The Eugenol Market Demand Is Anticipated to Surpass USD 1,012 Million by 2032 End

Posted on 2022-10-18 by Fact.MR in Industrial // 0 Comments

Eugenol is found in essential oils of various plants. Eugenol is considered as versatile molecule used as an ingredient in various products including pharmaceutical, food industry, fragrance, flavor, cosmetics, etc. Eugenol also exhibits antioxidant, antibacterial, anti-microbial, anti-cancer, and anti-inflammatory activities. Around 80-90% of eugenol is present in clove bud oil, while around 82-88% of eugenol is present in clove leaf oil. Hence, clove is considered as the main source of eugenol. Manufacturers are also practicing new methods for extracting eugenol from clove oil. Solvent extraction, microwave-assisted extraction, and hydro-distillation are some of the highly-preferred extraction processes employed by producers. The food industry is moving towards the application of eugenol in food preservation owing to its antimicrobial properties. The rise in foodborne diseases worldwide is driving the demand for eugenol as a part of an effective preservation strategy.

Meanwhile, pharmacological properties of eugenol are also driving the demand for eugenol in the pharmaceutical industry. Various studies have also been carried out to show the mechanism behind the activity of eugenol. Eugenol also has the capability to reduce viral infection. It has also been found that the epoxide from of eugenol is one of the potential drug candidates in order to induce apoptosis in breast cancer cells. Having a natural bioactive compound, eugenol is being considered on a large scale in the treatment of several disorders.

As per the latest report by Fact.MR, the global market for eugenol is expected to witness robust growth during 2017-2026. The global eugenol market is also projected to increase to 5.4% CAGR in terms of volume. It is estimated to reach US$ 745.1 million revenue by the end of 2026.

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Clove and Cinnamon to Emerge as an Important Source of Eugenol

Based on the source type, clove is likely to emerge as a vital source of eugenol. By the end of 2026, clove is estimated to surpass US$ 600 million revenues.

On the basis of end use, the food industry followed by the pharmaceutical industry is expected to witness the highest growth during the forecast period. The food industry is projected to bring in exceed US$ 200 million revenue towards 2026 end.

Based on the application, eugenol is likely to find the largest application as the base ingredient. By the end of the forecast period, eugenol as the base ingredient is estimated to bring in more than US$ 200 million revenue.

What is the North America Eugenol Market Scenario?

The current situation in North America has all of the hallmarks of a Goldilocks economy. Most economic indices, particularly GDP, indicate that economic activity in North America will be mild. Despite a variety of pressures, inflation and deflation remain under control, and unemployment has not increased.

The manufacturing activity in the U.S. is showing spurt, with production increasing at a faster rate than the overall economy. In Canada, encouraging fiscal policy, coupled with gains in household wealth, are likely to revive business investment.

Further, surcharges on export to the U.S., especially on lumber, are projected to lead to losses worth $10 billion; however, rebound in commodity prices can offset these challenges. The focus of the federal government under Trudeau has led to improvement in the employment scenario. The spurt in federal investment, especially in education and housing sector, are expected to sustain the growth of economy.

However, the eugenol market in North America is likely to observe growth in coming years. It is projected to gain 62 BPS and likely to hold nearly 1/6th global market share by the end of 2032.

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Competitive Landscape: Top Companies in Eugenol Market

Majority of companies discussed in the report have focused on product development and expansion of manufacturing units across developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.

Also, the key companies have adopted numerous strategies including merger & acquisition partnership, etc. product development is the key strategy to upscale their market presence among consumers.

Fact.MR has provided detailed information about price points of top manufacturers of eugenol market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance: On 23rd April 2021, Bukoola Chemical Industries, an Uganda based agro-chemical distributing company became partners with the ACN (Anti-Counterfeit Network) to unveil a campaign with an aim to create awareness among people related to fake agro-chemical inputs available in the market.

Key Companies Profiled:

Van Aroma
Nile Chemicals
Sigma-Aldrich
Nusaroma Indonesia Essential Oil
Berjé
Indaroma
Extrasynthese
Penta Manufacturing Company
Vigon International
Boc Sciences.
Other Key Players

Global Eugenol Market Segments

By Source Type :

Cloves
Cinnamon
Nutmeg
Basil
Other Source Types

By End-Use :

Food Industry
Pharmaceutical Industry
Personal Care
Other End Use Industry

By Application :

Base Ingredient
Stabilizers & Antioxidants
Antiseptic & Anaesthetic
Perfumeries, Flavorings, Essential Oils
Other Applications

By Region :

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

Report Summary

The study offers comprehensive analysis on diverse features, including price point analysis at each product and brand level, consumer survey analysis, social media sentiment analysis, product benchmarking and revenue generation from eugenol providers across the globe.

A comprehensive estimate on the market has been provided, taking into account the revenue of eugenol providers during the forecast period.

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