Linalool Market Expected To Reach $696.2 Million by 2030

According to a new published report by Allied Market Research titled, “Linalool Market by Type, Application and End-user Industry: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global linalool market size was valued at $462.6 million in 2020, and is forecasted to reach $696.2 million by 2030, growing at a CAGR of 4.2% from 2021 to 2030.

Linalool is commonly found in areas with a boreal environment. It's especially good for muscle relaxants, smooth muscular spasm relievers, skincare, and aroma therapists in Ayurveda and herbal medicine. Other applications, such as skin inflammations (usually in the form of tea tree oil) and skin alignments for a variety of end-use applications, have also aided the linalool market's growth. Linalool is frequently utilized as a chemical intermediate in the chemical industry, which is propels the growth of the linalool market. There is rise in demand for linalool due to increased usage in cleaning goods, perfumed hygiene, and smell elements such as soaps, lotions, detergents and shampoos. It is also used to calm people down. Furthermore, it is employed in a variety of end-use applications, including pest controllers for insects such as fruit flies, cockroaches, and fleas. Linalool is a popular vitamin E backend product.

The linalool market is segmented on the basis of type, application, end-user and region.

By type, the global linalool market is segmented into natural and synthetic. The synthetic segment accounted for the largest share in 2020, while natural segment is projected to grow at the highest CAGR of 6.4% during the forecast period.

Applications of Linalool include essential oils, anti-inflammatory, anti-epileptic, sedative and others. The essential oils segment accounted for the largest linalool market share in 2020, while the sedatives segment is projected to be the fastest growing segment at a CAGR of 4.8% during the forecast period.

By end-user, the global linalool market is segmented into pharmaceutical, chemical, cosmetics & personal care, and others. The chemical segment accounted for the largest share in the global linalool market, while pharmaceutical segment is the fastest growing segment, registering 6.4% CAGR over the forecasted period.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region accounted for the largest share in the global linalool market in 2020 and is projected to grow at CAGR of more than 5.0% during the forecast period.

The global linalool industry is consolidated in nature with a few players, such as BASF, Royal DSM, Arora Aromatics Pvt. Ltd., Chemical Point UG, Ernesto Ventós S.A., Symrise, Axxence Aromatic GmbH, Menthaallied, Phoenix Aromas & Essential Oils LLC and Robertet Group. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.

Key Findings Of The Study

• On the basis of type, the synthetic segment emerged as the global leader by acquiring more than 93% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
• On the basis of application, the essential oils segment accounted for more than 80% of the global market share in FY2020.
• On the basis of end-user, the chemical segment accounted for more than 55% of the global market share in FY2020.
• On the basis of region, Asia-Pacific is the major consumer of linalool among other regions. It accounted for around 38% of the global market share in 2020.

Impact Of Covid-19 On The Global Linalool Market

• COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11th, 2020.
• Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
• In many countries, the economy has dropped due to the halt of several industries. Demand for the product has been hindered as there is no development due to the lockdown.
• The demand–supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the linalool market during the COVID-19 pandemic.
• Due to a scarcity of resources in various parts of the world, the COVID-19 pandemic has impacted negatively on the commercial and industrial sector. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.