Phenylethyl Market Size

Phenylethyl Market size is expected to reach USD 573 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of phenylethyl was over USD 285 Billion. Over the past decade, customer demand for natural products over synthetic chemicals has increased along with knowledge of conservation. According to a global survey, in 2021 approximately 44 percent of consumers will be more inclined to buy from brands that are committed to sustainability. Several impacted industries, including food, personal care, home care, and lawn and garden, are seeing significant market adjustments due to this shifting demand, which is also fuelling the natural goods sector's rapid expansion. Consumers are increasingly favoring products with natural ingredients. Phenylethyl, derived from natural sources like roses, aligns with this trend, leading to higher demand for natural fragrances and flavorings, thus driving the growth of the phenyl ethyl market.

Further, there is an opportunity for phenylethyl market players to focus on product innovation, such as developing new fragrance combinations or enhancing the properties of phenylethyl-based products. This helps companies gain a competitive edge and propel the market’s growth in totality.