Coumarin Market size is poised to reach USD 556 Million by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of coumarin was USD 182 Million. The reason behind the growth is due to the rising cases of cardiovascular diseases across the globe. Coumarins have been shown to have benefits on the cardiovascular system, especially in patients with arterial fibrillation, one of the most prevalent cardiac conditions. The primary clinical application of Coumarin-based anticoagulants is to prevent stroke or systemic embolism. Over the last 30 years, fatalities from cardiovascular disease increased by more than 55% worldwide.
The growing usage of anti-cancer agents is believed to fuel the market growth. Coumarin derivatives have been used to treat several malignant conditions owing to their strong anti-tumor properties and a range of anti-tumor mechanisms and they may also slow the growth of tumor mass.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~8% |
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Base Year Market Size (2023) |
~ USD 182 Million |
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Forecast Year Market Size (2036) |
~ USD 556 Million |
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Regional Scope |
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Application (Medicine, Detergents, Electroplating and Coating, Perfumery and Fragrances)
The perfumery and fragrances segment is estimated to account for 35% share of the global coumarin market in the coming years owing to the rising personal disposable income. Almost every form of cosmetic and toiletry contains perfume, which is intended to make the product smell nice and pleasant. It is projected that changing lifestyles and greater disposable income will increase demand for more expensive eau de perfumes. Furthermore, the majority of people's standard of living is improving in urban areas as consumers, particularly the younger generation, choose more expensive scents. These causes may increase coumarin consumption in the next years.
Coumarin is a common ingredient in perfume formulations that may have the aroma of freshly cut hay, vanilla, and almonds, and encourage scents of herbs such as oakmoss, citrus oils, lavender, and rosemary. It is obtained primarily from the tonka bean, but it can also be found in other plants. Furthermore, coumarin is best described as a thick, nut-like scent that is pleasant, fragrant, and creamy, and it can be used as a fixative in a variety of fragrances. Global disposable incomes and household spending increased by 2.5% in 2022, according to estimates.
Type (Pharmaceutical Grade, Cosmetic Grade, Chemical Grade)
Coumarin market from the cosmetic grade segment is set to garner a notable share. Cosmetic-grade coumarin is frequently utilized in the production of several cosmetic goods such as skin care, suntan, cleansing, bubble baths, and aftershave lotion. Moreover, in the cosmetic industry, coumarin is utilized for its scent-enhancing qualities and is thought to be present in more than 85% of cosmetic goods and as an ingredient in different essential oils.
Our in-depth analysis of the global coumarin market includes the following segments:
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Type |
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Application |
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North American Market Forecast
Coumarin market in North America is predicted to account for the largest share of 30% by 2036 propelled by the rising spending in skincare and makeup products. It is expected that the entry of younger consumers into the market, consumers' evolving lifestyles, the rising incidence of skin conditions, and the growing desire for organic and chemical-free products have fueled the demand for skincare products in the region which may create a huge demand for coumarin in the coming years. Moreover, coumarin derivatives are used for the preparation of drugs for treating skin diseases, and these derivatives are also used to formulate skin care products and suntan products. For instance, more than USD 89 billion is spent on beauty items by US consumers each year.
European Market Statistics
The Europe Coumarin market is estimated to be the second largest, during the forecast timeframe led by the presence of a well-established healthcare industry. In Germany, the health sector is among the most significant business sectors which is leading in Europe in terms of market size, patient population, medical technology producers, and healthcare providers. This may result in higher demand for coumarin as it is used in several pharmaceuticals.
Author Credits: Radhika Pawar
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