Methyl Anthranilate Market

Methyl Anthranilate Market is projected to grow at a CAGR of 18% between 2021 and 2032. The rise in the market is due to increasing use of such applications in different industries which drives the market along with the increasing transactions between countries which too is a major driver of the market.

The major drivers of the Methyl Anthranilate Market are its wide range of applications in different industries, its economic availability and the good growth prospects of the industries that use 

Some of the major advantages of the Methyl Anthranilate Market are as follows:

1) Methyl Anthranilate is used as a flavouring agent in several food and beverages products. This is anticipated to drive the growth of the Methyl Anthranilate market.

2) Moreover, it is also used as an insecticide for killing harmful insects and pests in crops. This will create better opportunities for the growth of the Methyl Anthranilate market.

3) Additionally, it can be used in pharmaceuticals industry to treat allergies and inflammatory conditions. Hence, this application segment is expected to grow at a rapid pace during the forecast period.

4) Methyl Anthranilate Market has witnessed a great demand over past few years due to its wide range of applications such as paints & coatings, flavouring agent, agricultural chemicals, etc; hence it’s estimated that this trend will continue over the next few years too.

Market Value and CAGR of the Methyl Anthranilate Market

The current value and the CAGR of the Methyl Anthranilate Market is expected to be at USD 820.53 million by 2032 and is estimated to grow at a CAGR of 7.5% from 2022 to 2032.

The market value is expected to rise as the global demand for fragrances, flavours and cosmetics increases with consumer awareness towards branded products.

The challenges of the Methyl Anthranilate Market are as follows:

Restrictions on the use of Methyl Anthranilate due to its toxic nature is expected to hamper the growth of the methyl anthranilate market. This is a major problem as the topic nature of the product reduces its applicability resulting in losses which may be suffered and as restrictions are being imposed, companies will be aware about its usage which is a drawback of the market.

However, due to its varied application, there is an increasing demand of the Methyl Anthranilate Market and this is only expected to rise in the future.

Key Players 

Some of the key players operating in the global methyl anthranilate market are BASF SE (Germany), Celanese Corporation (U.S.), Emerald Performance Materials Inc. (U.S.), Tri-K Industries, Inc. (U.S.), and Wacker Chemise AG (Germany) among others. 

There is competition in the market as new innovations and technologies are coming up and the company which is able to come up with the latest technology will become be the most beneficial in the market.

Segment analysis

By Application: The applications of Methyl Anthranilate include flavourings, fragrances, insecticide, and others. the sectors for insecticides are anticipated to develop at the greatest CAGR among these applications over the forecast period.

By End-Use Industry: The end-use industries of Methyl Anthranilate are food & beverage, pharmaceuticals, personal care & cosmetics and others. The food and beverage category among these applications is anticipated to expand at the highest CAGR over the forecast period.

By Region: The market share of methyl anthranilate in different regions depends on the consumer preferences, economic conditions and production capabilities in that region.

The major consumer markets of Methyl Anthranilate are North America, Europe and Asia Pacific due to their large population base who prefer quality products over unbranded products. Emerging markets like South America and Africa have recently shown a good growth potential due to the growing middle-class population who are willing to spend money on branded cosmetics, fragrances and other food items.

On the basis of geography, the global methyl anthranilate market has been categorized into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).

Impact of Covid-19

Covid-19 has had a significant impact on the methyl anthranilate market. The demand for methyl anthranilate has declined sharply as a result of the lockdown measures implemented by governments across the world to contain the spread of the virus. This has led to a decline in production and sales of methyl anthranilate. The prices of methyl anthranilate have also declined due to the decrease in demand.

The Covid-19 pandemic is expected to have a negative impact on the global economy, which will likely lead to a further decline in the demand for methyl anthranilate. The market is expected to recover from the impact of the pandemic over the next few years. With the companies getting back on track, the market too is slowly rising.

Key development in the Methyl Anthranilate Market

In January 2019, Clariant AG, one of the leading specialty chemical companies announced that it was going to supply Methyl Anthranilate (MA) to TDA Research Inc. the business has created a novel method for generating aromatic compounds, such as MA, with the least amount of waste. This is expected to offer a wide range of benefits in terms of lower costs associated with its production.

In January 2019, Clariant AG announced that it was going to supply high quality methyl anthranilate to the extrusion specialist - Techno-Pom Ltd. The deal will help Clariant make inroads into various applications and business sectors including mining, electronics, food packaging, construction and medical technology. The future of the market is expected to change due to such new innovations and technologies which are now being created for better efficiency and working conditions. As the demand increases over time, the requirements of innovation will also rise to meet up the demand. 

Methyl Anthranilate Market Scope

Key Segments of the Methyl Anthranilate Market

Type Overview, (USD million)
        • Methyl Anthranilate Below 99%
        • Methyl Anthranilate Above 99%
Application Overview, (USD million)
        • Flavour and Fragrance Industry
        • Pharmaceutical Industry
        • Others
Regional Overview,(USD million)
North America
        • U.S
        • Canada
Europe 
        • Germany
        • France
        • UK
        • Rest of Europe
Asia Pacific
        • China
        • India
        • Japan
        • Rest of Asia Pacific
South America
        • Mexico
        • Brazil
        • Rest of South America 
        • Middle East and South Africa