Myrcene Market

Get up-to-date information on the Myrcene market, including market size, growth prospects, and industry challenges

Increasing Applications in Flavors and Fragrances Industry Driving Market Growth

Category: Food & Beverages Published Date : Feb-23 ID: CVC-89659 Format: PDF Pages: 275

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.

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Report Includes

Research Scope/Taxonomy
Market Analysis by Concentration:

  • ? 80% Myrcene
  • 80% – 90% Myrcene
  • ? 90% Myrcene

Market Analysis by Application:

  • Fragrance Intermediate
  • Flavor Intermediate

Market analysis by region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Middle East & Africa
  • East Asia
  • South Asia & Pacific

Analyst Credentials

Key Companies Profiled

  • DRT
  • Ernesto Ventós, S.A.
  • Sky Dragon Fine-Chem Co., Ltd.
  • Deqing Wansong Forestry Perfume Manufacturing Co., Ltd..
  • Jiangxi Hessence Chemicals Co., Ltd.
  • EcoGreen International Group Limited.
  • Zhejiang Xinhua CHEMICAL CO.,LTD
  • Toronto Research Chemicals.

1.1. Global Market Snapshot

1.2. Key Success Factors

1.3. Strategic Analysis and Recommendations

2.1. Market Taxonomy

2.2. Market Definitions

3.1. Preliminary Investigation & Research Design

3.2. Secondary Research & Primary Research

3.3. Data Analysis & Econometric Modelling

3.4. Expert Data Validation

4.1. Supply-Side Trends

4.2. Demand-Side Trends

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

6.1. 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

7.1. Cross Analysis of Type W.R.T. Application

8.1. Regional Supply Vs. Demand Gap Assessment

8.2. Top Producing Countries Analysis

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

10.1. 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

11.1. 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

12.1. 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

13.1. 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 U.S. 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

14.1. 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 Brazil Mexico 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

15.1. 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 Germany Italy France UK Spain Netherlands Norway Russia 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

16.1. 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 China Japan South Korea India Indonesia Thailand Vietnam Australia & New Zealand 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

17.1. 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 Saudi Arabia Turkey U.A.E. 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

18.1. 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 South Africa Nigeria Egypt 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

19.1. 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

20.1. 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



20.4. 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.