Burgeoning developments in the production of cosmetics, pharmaceuticals and fragrances are likely to add impetus to the anisole market over the forecast spell of 2018-2024. Anisole is made via methylation of sodium phenoxide and methyl chloride or dimethyl sulfate, and has myriad advantageous characteristics like good solubility in many organic solvents including ethanol, benzene, chloroform, and diethyl ether, among others.
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These features, quite overtly, make it a favored precursor to insect pheromones and solvent in organic compounds synthesis.
Rising per capital incomes, higher demand for high-quality skin-care products and the increasing focus on image consciousness among the working classes, particularly the middle- and high-income groups have led to a considerable demand surge for anisole from the cosmetics industry.
Furthermore, suitable demographics and the advent of social media are contributing towards the heightening awareness pertaining to personal care items and instilling a sense of fashion in the population of various metropolitan and Tier 1 & 2 cities. The improving lifestyle conditions and shift towards a modern culture are likely to boost global anisole market outlook during the estimated timeline.
As per authentic reports, the global anisole market is expected to cross $105 million over 2024.
In recent years there has been a significant paradigm shift in the male perception regarding skin health and personal care. Men are growing more aware of the importance of maintaining their personal appearance and are investing more frequently in cosmetic and personal care products, like creams and face cleansers. This shift in the men’s cosmetics segment will drive anisole market trends by 2024.
Apparently, the Personal Appearance Survey statistics by Euromonitor International in developed nations suggest that men prefer using beard creams, beard shampoos, foundations, and lip balms. Moreover, as men grow more conscious about their appearance, their focus on grooming habits increases, thereby presenting lucrative production opportunities to key manufacturers in the men’s cosmetics sector.
In terms of revenue, APAC was the dominant region in 2017, having held over 30% of anisole market share, as a result of higher disposable incomes, dependence on quality personal care items, global influence on lifestyles and the rising prevalence of foreign brands in the region. Likewise, changing weather conditions in the region will spur the utilization of sunscreen products with SPF properties.
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The APAC region is also likely to witness elevated demand for anisole application in pesticides owing to the robust growth of the regional agricultural sector. For example, the Chinese government is largely focused on agricultural reformation.
On a similar note, the Indian government has initiated several measures for the augmentation of the agricultural sectors, including the ‘Pradhan Mantri Fasal Bima Yojana’ and ‘Paramparagat Krishi Vikas Yojana’, among others. The Indian government has also made investments of over $ 470 million under the “Blue Revolution Vision”, in an attempt to gain an annual growth rate of over 6-8% for the agricultural sector and other related verticals.
With regards to the application spectrum, the cosmetics segment is projected to hold majority share of over 35% by 2024 in the overall anisole market. This segment demonstrates commendable application potential in the manufacture of fragrances, perfumes and other aromatic beauty products.
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On the other hand, the pharmaceuticals segment is expected to register a CAGR of 4.4% through 2024, in the global anisole market. Anisole products are used as chemical intermediate in the production of bulk pharmaceutical products such as Dextromethorphan, Raloxifene and various expectorant and antiseptic substrates, among others.