The growing awareness toward natural and organic cosmetic products and ingredients is driving the global farnesene market.
At a compound annual growth rate of 3.7%, the size of the worldwide Farnesene market is projected to reach US$ 2688.01 million in 2028.
COVID-19 Impact & Market Status
COVID-19's global spread prompted lockdowns in key cities, ports, and manufacturing facilities, which is expected to have a short- and medium-term impact on farnesene and its raw materials costs and supplies. During the COVID-19 spread in the worldwide market, however, farnesene demand was also influenced. Increased demand for natural and organic products in the food and beverage sector resulted from rising customer worries about healthy diets as a result of developing inflectional illnesses such as COVID-19. Over the projected period, this will improve overall growth and demand for farnesene in the flavours and fragrances business.
The report identifies the markets and companies that may be attractive currently and forthcoming years. The report analyzes the changes in production growth, income, demographics, changing price patterns, and other several factors. The report analyses the global farnesene market by identifying the most attractive investors, and assesses the opportunities, market size, risks, and growth potential of the market. The report assesses the major trends influencing the global farnesene market, global farnesene market structure, investment opportunities, and emerging market having attractive opportunities. The report identifies the growth segments, geopolitical scenarios, regulatory environment, technological innovations in the global farnesene market.
North America Dominated the Market
The farnesene market in North America was worth over USD 55 million in 2020, and it is expected to develop rapidly in the future years. Rising demand for adhesives in the region due to the shift in preference for electric vehicles in the United States is expected to boost market statistics in North America.
Adhesives Industry To Drive The Demand For Farnesene
Adhesives allow the attachment of various automotive panels in a durable, flexible, and safe manner while ensuring aesthetic features. Moreover, the extreme durability and superior strength of these products make them suitable for transmission, radiators, and batterises, stimulating the market size.
Also, due to the rising demand for natural ingredients in the beauty and personal care sector, farnesene's use in cosmetics and personal care accounted for the biggest share of over 35 percent in 2020 and is expected to rise at a considerable CAGR.
The expanding elderly population and the resulting need for anti-aging goods such as anti-wrinkle creams and moisturizers is driving the global farnesene market.
Owing to benefits such as muscle relaxer, calming and sedative effects, anti-fungal, and antibacterial, anti-inflammatory, tooth decay prevention, insect repellent, healthy digestion, the farnesene is experiencing rapid adoption as opposed to traditional chemical compounds thus fostering progress in global farnesene market.
The key factors such as boom in cosmetic industry, increasing demand for flavours and fragrances, and increasing fuels and lubes applications is boosting the global farnesene market.
Farnesene is unique and attractive as a scaffold for specialty chemical applications and offers unique physical properties and chemical reactivity for new materials. The Farnese is used in many products and provides advantages to health. These factors collectively influence adoption of Farnesene thus influencing thumping growth of global Farnesene market. The global farnesene market is estimated to reach close to 16.38 million with an annualized growth rate of 6% between 2022 and 2029. The growth of global farnesene market is mainly attributed to rising awareness of people about natural and organic cosmetic goods and components.
Farnesene plays a key role in production of specialty feedstock for different chemical transformations. Farnese is used as main ingredient in the production of a wide variety of commodity products, ranging from cosmetic oils, lubricants to fuels
The aroma of gardenia or the distinctive smell of green apples is created by combining natural farnesenes acquired from the covering of fruits or essential oils.
There is just one isomer of farnesene that occurs naturally. The E isomer is found in a variety of essential oils. Aphids also emit it as an alarm pheremone when they die to keep other aphids away. This pheromone is synthesised by a variety of plants, including potato species, and is used as a natural insect repellant.
Farnesene is used to create bath oils, makeup foundations, lipsticks, eyeliners, moisturisers, sunscreens, nail polishes, cleansers, body powders, and other skin care products in the cosmetics and personal care business. Farnesene is also often found in moisturisers, anti-aging treatments, and cosmetic formulas.
However, due some sedative effects of Farnesene many production plants, manufacturers or companies do not use it. This is losing the market value of Farnesene. Also, the fluctuating raw material prices is hampering the manufacturers’ profitability and increasing the retail prices. This is impeding the overall global farnesene market.
Furthermore, during covid-19 the demand for farnesene saw a tremendous increase due to rising health concerns and shift of consumers towards healthy diets. This led to more demand of natural and organic ingredients in the food and beverage industry. This is anticipated to be a growth opportunity for the global farnesene market.
The key players global farnesene market are ALFA, American Enzyme Company, U.S. Biological Life Sciences, Glentham Life Sciences, Antai Fine Chemical, Triveni chemicals, , Toronto Research Chemicals, ADL Biopharma, Santa Cruz Biotechnology, Tate and Lyle, Precigen, and Amyris among others.
Latest Developments In The Farnesene Market: A Snapshot
- In August 2021, Amyris Biotechnologies announced its collaboration with Queer Eye’s Jonathan Van Ness and will come up with hair care products.
Farnesene Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 16.38 million|
|Growth Rate||CAGR of 6 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||ALFA, American Enzyme Company, U.S. Biological Life Sciences, Glentham Life Sciences, Antai Fine Chemical, Triveni chemicals, , Toronto Research Chemicals, ADL Biopharma, Santa Cruz Biotechnology, Tate and Lyle, Precigen, and Amyris among others.|
Key Segments of the Global Farnesene Market
Type Overview, 2019-2029 (USD Million)
Application Overview, 2019-2029 (USD Million)
- Coatings And Sealants
- Vitamin Precursors
- Crop Protection
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa