Mesifurane Industry size is expected to register 3.9% CAGR between 2024 and 2032 propelled by increasing demand in the food industry.
Selbyville, Delaware , June 05, 2024 (GLOBE NEWSWIRE) — Mesifurane Market is estimated to be valued at USD 190.7 million in revenue by 2032, as per a recent study by Global Market Insights Inc.
The eco- friendliness of mesifurane and its potential as a renewable alternative to traditional petrochemicals is driving the market growth. With the growing awareness of environmental issues and regulations emphasizing sustainability, industries are looking for greener alternatives, further increasing the product adoption in various applications, such as packaging, solvents, and biofuels.
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As a solvent, mesifurane has excellent solubility and low toxicity, making it attractive for use in pharmaceuticals and personal care products. For instance, in January 2024, Givaudan, a top fragrance and beauty company, launched Scentaurus™ Vanilla to its fragrance precursor collection for offering a fresh and long-lasting powdery and creamy effect. Mesifurane also boasts of a potential to work as a biofuel additive to cater to opportunities in the field of renewable energy. The continuous R&D activities aimed at expanding applications will also prove favorable for the product demand.
Synthetic mesifurane to gain prominence
Synthetic mesifurane market is slated to record high demand between 2024 and 2032 due to its consistent quality, scalability, and reduced dependency on natural resources. Unlike its natural biomass-derived counterpart, synthetic mesifuran offers producers greater control over production processes for ensuring a reliable and standardized supply. Synthetic mesifurane also addresses the issues of sustainability and availability of biomass raw materials, thus providing a more sustainable and economically viable solution for various applications.
Rising adoption in pharmaceuticals
Mesifurane industry share from the pharmaceuticals application segment is poised to grow at a substantial rate during 2024-2032, owing to its versatility in drug formulation. Mesifurane provides excellent solubility, low toxicity and compatibility with many active pharmaceutical ingredients, emerging an attractive solvent for pharmaceutical formulations. Given its ecological nature, mesifurane further meets the growing demand for sustainable and bio-based pharmaceutical ingredients.
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Asia Pacific to emerge as a lucrative market
Asia Pacific mesifurane market size will register a strong CAGR through 2032, attributed to the burgeoning automotive sector in the region. The use of mesifurane as a bio-based solvent in automotive coatings and paints is becoming increasingly popular due to its low emission of volatile organic compounds (VOCs) to meet the strict environmental requirements. The growing demand for environmentally friendly solvents in booming construction industry, driven by infrastructure development projects will further stimulate the regional market growth.
Mesifurane Market Participants
Some of the renowned mesifurane companies are Bell Flavors & Fragrances, BASF SE, Treatt Plc, Comax Flavors, Takasago International Corporation, Firmenich SA, T. Hasegawa Co., Ltd., Frutarom Industries (now part of IFF), Symrise AG, Givaudan SA, Sensient Technologies Corporation, International Flavors & Fragrances Inc. (IFF), Robertet Group, Kerry Group, and Mane SA. These market participants are focusing on several innovative and growth-based strategies to widen their product range and customer base. To illustrate, in April 2023, Sensient Savory Flavors France launched Nacre umami booster extract portfolio for food manufacturers.
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