The global mesifurane market size is expected to reach USD 153.8 million by 2025, expanding at a CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. Inclination of consumers towards high-quality processed foods in emerging economies such as India and China is likely to boost demand for fresh and aromatic food additives such as mesifurane.
The compound occurs naturally in fruits such as strawberries, and has a strong, fruity aroma, making it ideal for cosmetic and personal care applications such as fragrances. Flavor & fragrance companies are also shifting their focus towards development of innovative organic flavors for various applications.
Companies such as Frutarom and Firmenich have developed unique products and technologies respectively, to cater to transitioning consumer food preferences. The cosmetics & personal care industry is also generating demand for mesifurane compounds as manufacturers seek to substitute other potentially toxic chemicals with these safer alternatives.
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Further key findings from the report suggest:
The global mesifurane demand was estimated at 6,080 tons in 2015 and is expected to grow at a CAGR of 4.8% from 2016 to 2025
Animal feed is expected to emerge as the second fast-growing segment after food & beverages owing to increasing meat consumption & the demand for nutritional, yet flavorsome animal feed products
Global pharmaceuticals industry is also expanding at a rapid rate, specifically in emerging economies as a result of rising geriatric population and prevailing diseases
The food & beverages segment is expected to remain the dominant application, occupying about 61% of the volume share in 2015, as strawberry-flavored drinks are gaining popularity
Consumers are also increasingly preferring exotic fruits as compared to seasonal products, while favorable regulations encouraging foreign investments in this sector are contributing to industry expansion
Manufacturers are increasingly preferring the chemical as an intermediate in various cosmetic formulations owing to its strong and pleasant fragrance
Asia Pacific is anticipated to emerge as the fastest-growing region with 5.2% CAGR in terms of volume from 2016 to 2025. Favorable government policies in emerging economies regarding agricultural development is boosting animal feed market growth which is conducive to mesifurane demand
Key suppliers and developers in the mesifurane market include Sigma-Aldrich, The Good Scents Company, Shandong Yaroma Perfumery Co. Ltd., Ruiyuan Flavor Co. Ltd., Penta Manufacturing Co., Natural Advantage and United International Co. Ltd.