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Report Highlights
According to a research survey conducted by ChemView Consulting, Myrcene Market is estimated to be worth US$ 115.312 Mn in 2023. The market is expected to grow at a CAGR of 4.30% between 2023 and 2033 to hit US$ 175.67 Mn by 2033 end.
Key Market Trends
Myrcene Market Goes High-Tech: Advancements in Extraction and Processing
Myrcene is a terpene commonly found in cannabis and hops that has a range of potential medical benefits, including pain relief, anti-inflammatory properties, and sedation. With the growing demand for natural remedies and the legalization of cannabis in many parts of the world, the market for myrcene is expanding rapidly. To keep up with this demand, companies are investing in high-tech extraction and processing methods to improve the quality and quantity of myrcene production. This includes the use of advanced technologies such as supercritical CO2 extraction, ultrasound-assisted extraction, and nanotechnology-based processing techniques. As a result, the myrcene market is expected to experience significant growth in the coming years, as more companies adopt these cutting-edge technologies.
Myrcene and the Future of Personalized Medicine
Personalized medicine is an emerging field that aims to tailor medical treatments to an individual’s unique genetic makeup, lifestyle, and environmental factors. Myrcene is one compound that has shown promising potential for personalized medicine, due to its varied effects on different people. For example, some individuals may experience pain relief from myrcene, while others may not. This variability in response is thought to be related to differences in genetics and other factors. Researchers are exploring how myrcene can be used in personalized medicine, including developing myrcene-based therapies that can be customized for each patient’s needs. As a result, the myrcene market is poised to play a significant role in the future of personalized medicine, as more research is conducted and more applications are discovered.
Market Drivers
Rising Demand for Natural Flavouring and Fragrance Products to Boost the Myrcene Market
Myrcene is a natural organic compound that is commonly found in essential oils, such as those derived from bay leaves, hops, and lemongrass. It is widely used in the production of fragrance and flavouring products due to its pleasant aroma and taste. The global myrcene market is expected to witness significant growth in the coming years, driven by the increasing demand for natural and sustainable ingredients in various industries. Consumers are becoming more conscious of the health and environmental impacts of synthetic ingredients, and are therefore seeking out natural alternatives. Myrcene offers a safe and natural option for enhancing the aroma and flavor of food and beverages, as well as personal care and household products. This is expected to drive the demand for myrcene in the food and beverage, cosmetics, and cleaning product industries.
Growing Demand for Cannabis-Derived Products to Drive the Myrcene Market
Myrcene is a terpene that is found in high concentrations in cannabis plants. It is believed to have various medicinal properties, such as anti-inflammatory and pain-relieving effects. As the legalization of cannabis continues to spread across the world, the demand for cannabis-derived products is expected to grow, which in turn will drive the myrcene market. Myrcene is an important component of some cannabis strains that are used to treat chronic pain, anxiety, and insomnia, among other conditions. Additionally, myrcene is believed to have a synergistic effect with other cannabinoids, such as THC and CBD, which could further increase its potential medical benefits. As more research is conducted on the medicinal properties of myrcene and other cannabis compounds, the demand for myrcene is expected to grow in the pharmaceutical industry.
Segmentation Insights
After conducting a thorough analysis of the Myrcene Market, we have identified the top three trending segments in the industry. These segments are experiencing high demand, strong market growth, and extensive adoption. Here are the top three segments, presented in a professional and attractive manner:
Most Popular (Fastest Growth Rate)
Fragrance Intermediate (≥ 90% Mycrene)
Fragrance Intermediate is the most popular application in the Myrcene Market, particularly for Myrcene with a concentration of ≥ 90%. This high concentration Myrcene is known for its powerful fragrance and is widely used as a key ingredient in the production of perfumes, colognes, and other fragrances. The unique and alluring scent of ≥ 90% Myrcene concentration make it the preferred choice for consumers seeking high-quality fragrance intermediates.
Most Selling (Largest Market Share)
Flavor Intermediate (80% – 90% Myrcene)
Flavor Intermediate is the most selling product in the Myrcene Market, particularly for Myrcene with a concentration of 80% – 90%. This intermediate is known for its pleasant and unique flavor profile and is widely used as a flavoring agent in the food and beverage industry. The high-quality and versatile flavor properties of 80% – 90% Myrcene concentration make it the go-to choice for consumers seeking effective and reliable flavor intermediates.
Trending (Gaining Traction)
Fragrance Intermediate (≤ 80% Myrcene)
Fragrance Intermediate with ≤ 80% Myrcene Concentration is gaining significant traction in the Myrcene Market. This lower concentration Myrcene is known for its subtle and delicate fragrance, making it ideal for use in light and refreshing fragrances. The gentle and elegant scent of ≤ 80% Myrcene concentration make it the trending choice for consumers seeking high-quality fragrance intermediates that provide a refined and sophisticated aroma.
Regional Insights
Increasing demand for natural flavor and fragrance compounds drives the Asia Pacific Myrcene market
The Asia Pacific Myrcene market is expected to experience significant growth in the coming years due to the increasing demand for natural flavor and fragrance compounds. Myrcene, a natural terpene found in plants such as hops, mangoes, and bay leaves, is commonly used in the production of fragrance and flavor compounds. Furthermore, the Asia Pacific region is home to a large number of flavor and fragrance manufacturers, which further supports the growth of the Myrcene market in the region.
Rising Popularity of Cannabis-based Products Boosts North America’s Myrcene Market
The North America Myrcene Market is experiencing a significant boost in demand due to the rising popularity of cannabis-based products. Myrcene is one of the most common terrenes found in cannabis plants and is responsible for the distinctive aroma of cannabis. It is also known for its medicinal properties, including pain relief, anti-inflammatory, and sedative effects. The increasing legalization of cannabis in North America has led to a surge in demand for cannabis-based products like oils, tinctures, and edibles, which are rich in myrcene.
Research Scope/Taxonomy
Market Analysis by Concentration:
Market Analysis by Application:
Market analysis by region:
Key Companies Profiled
1. Executive Summary
1.1. Global Market Snapshot
1.2. Key Success Factors
1.3. Strategic Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definitions
3. Research Methodology
3.1. Preliminary Investigation & Research Design
3.2. Secondary Research & Primary Research
3.3. Data Analysis & Econometric Modelling
3.4. Expert Data Validation
4. Key Emerging Trends Analysis
4.1. Supply-Side Trends
4.2. Demand-Side Trends
5. Global Myrcene Market Value (US$ Mn) and Volume (Tons) Analysis
5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032
5.2. Incremental $ Opportunity Index, 2022-2032
5.3. Global Market Volume (Tons) Analysis, 2017 – 2032
6. Global Myrcene Market Pricing Analysis
6.1. Regional Level Pricing Analysis and Forecast
6.1.1. Manufacturers Level Pricing
6.1.2. Distributor Level Pricing
6.2. Global Pricing Analysis Benchmark
6.3. Cost Breakdown Analysis
7. Cross-Sectional Analysis
7.1. Cross Analysis of Type W.R.T. Application
8. Supply Vs. Demand Analysis
8.1. Regional Supply Vs. Demand Gap Assessment
8.2. Top Producing Countries Analysis
9. Market Background
9.1. Macroeconomic Factors
9.2. Forecast Factors
9.3. Market Dynamics
9.3.1. Driver
9.3.2. Restraint
9.3.3. Opportunity
9.4. Supply Chain Analysis
9.4.1. List Raw Material Suppliers
9.4.2. List of Manufacturers
9.4.3. List of Distributors
9.4.4. List of End-Users
9.4.5. End-Users Consumption Analysis
9.4.6. Average Profitability Margin Analysis
9.5. Covid-19 Impact Assessment
9.5.1. Economy/Cluster Projections
9.5.2. Covid-19 Economic Assessment
9.5.3. Impact on Target Market
9.5.4. Recovery Scenario
9.6. Regulatory Framework
9.6.1. Regulations of Key Countries
9.6.2. Potential Impact of Regulations
9.7. Porter’s Five Forces Analysis
9.8. Technology Landscape
10. Global Myrcene Market 2017 – 2032 By Concentration
10.1. Introduction
10.2. Key Market Trends
10.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Concentration [Value (US$ Mn) and Volume (Tons) Analysis]
10.3.1. ? 80% Myrcene
10.3.2. 80% – 90% Myrcene
10.3.3. ? 90% Myrcene
10.4. Market Attractiveness Analysis by Concentration
11. Global Myrcene Market 2017 – 2032 by Application
11.1. Introduction
11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
11.2.1. Fragrance Intermediate
11.2.2. Flavor Intermediate
11.3. Market Attractiveness Analysis by Application
12. Global Myrcene Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032 by Region
12.1. Introduction
12.2. Key Market Trends
12.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. Asia-Pacific
12.3.5. Middle East
12.3.6. Africa
12.4. Market Attractiveness Analysis by Region
13. North America Myrcene Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
13.1. Introduction
13.2. Key Market Trends
13.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
13.3.1. By Country
13.3.1.1. U.S.
13.3.1.2. Canada
13.3.2. By Concentration
13.3.3. By Application
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Concentration
13.4.3. By Application
14. Latin America Myrcene Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
14.1. Introduction
14.2. Key Market Trends
14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
14.3.1. By Country
14.3.1.1. Brazil
14.3.1.2. Mexico
14.3.1.3. Rest of Latin America
14.3.2. By Concentration
14.3.3. By Application
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Concentration
14.4.3. By Application
15. Europe Myrcene Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
15.1. Introduction
15.2. Key Market Trends
15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
15.3.1. By Country
15.3.1.1. Germany
15.3.1.2. Italy
15.3.1.3. France
15.3.1.4. UK
15.3.1.5. Spain
15.3.1.6. Netherlands
15.3.1.7. Norway
15.3.1.8. Russia
15.3.1.9. Rest of Europe
15.3.2. By Concentration
15.3.3. By Application
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Concentration
15.4.3. By Application
16. Asia-Pacific Myrcene Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
16.1. Introduction
16.2. Key Market Trends
16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
16.3.1. By Country
16.3.1.1. China
16.3.1.2. Japan
16.3.1.3. South Korea
16.3.1.4. India
16.3.1.5. Indonesia
16.3.1.6. Thailand
16.3.1.7. Vietnam
16.3.1.8. Australia & New Zealand
16.3.1.9. Rest of Asia-Pacific
16.3.2. By Concentration
16.3.3. By Application
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Concentration
16.4.3. By Application
17. Middle East Myrcene Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
17.1. Introduction
17.2. Key Market Trends
17.3. Pricing Analysis
17.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
17.4.1. By Country
17.4.1.1. Saudi Arabia
17.4.1.2. Turkey
17.4.1.3. U.A.E.
17.4.1.4. Rest of the Middle East
17.4.2. By Concentration
17.4.3. By Application
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Concentration
17.5.3. By Application
18. Africa Myrcene Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
18.1. Introduction
18.2. Key Market Trends
18.3. Pricing Analysis
18.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
18.4.1. By Country
18.4.1.1. South Africa
18.4.1.2. Nigeria
18.4.1.3. Egypt
18.4.1.4. Rest of Africa
18.4.2. By Concentration
18.4.3. By Application
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Concentration
18.5.3. By Application
19. Competition Analysis
19.1. Tier Structure Breakdown
19.2. Market Share Analysis
19.3. Concentration Capacity Analysis
19.4. Company Footprint Analysis
19.4.1. Product Footprint of Players
19.4.2. Regional Footprint of Players
19.4.3. Channel Footprint of Players
19.5. Brand Preference Analysis
19.6. Competition Dashboard
20. Company Profiles
20.1. DRT.
20.1.1. Company Overview
20.1.2. Product & Financial Portfolio
20.1.3. Manufacturing Facilities
20.1.4. Recent Developments
20.1.5. SWOT Analysis
20.1.6. Strategy Overview
20.2. SPECTRUM LABORATORY PRODUCTS INC
20.3. YASUHARA CHEMICAL CO., LTD.
20.4. Ernesto Ventós, S.A.
20.5. Sky Dragon Fine-Chem Co., Ltd.
20.6. Deqing Wansong Forestry Perfume Manufacturing Co., Ltd..
20.7. Jiangxi Hessence Chemicals Co., Ltd.
20.8. EcoGreen International Group Limited.
20.9. Zhejiang Xinhua CHEMICAL CO.,LTD
20.10. Toronto Research Chemicals.
21. Assumptions and Acronyms
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