The global mesifurane market is expected to reach USD 153.8 million by 2025 according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 6.0%. Growing demand for processed foods and increase in demand for food flavors is anticipated to propel the market growth in the forecast period. Shift in consumer preference is most likely to enhance the market demand in the coming years.
Worldwide, mesifurane, a natural compound is used as a flavoring agent in the food processing industry. It is a significant flavorant used for mangoes, strawberries, arctic brambles, other fruits and berries. The growing technological advancements enable a shift in consumer preference towards organic ingredients and encourages manufacturers to adapt and produce novel products within the consumer food industries. End-use products cater to pharma industry, personal care, and animal industry since it is eco-friendly and non-toxic by nature.
Surge in product innovations followed by the significance of research & developments exhibit lucrative opportunities for market growth in the consumer goods sector. For instance, it is widely used in the personal care industry to manufacture scent and perfumes. Consumer consciousness towards synthetic care products is instrumental in boosting the demand. Apart, mesifurane finds a significant use in the animal feed industry that offers nutritional value to animal food and supplements their health.
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Further key findings from the report suggest:
· Pharmaceuticals are expected to witness a significant reception with a steady CAGR during the forecast period. Growing use of flavorants in the pharmaceutical and industrial synthesis is likely to enhance the market growth in the forecast period
· Food & beverages led the application category and accounting for a major market share. Several expansion in the food and beverage sector is likely to drive the market demand in the near future. The segment is expected to touch a CAGR of 4.9% in the coming years
· Asia Pacific is a dominant market attributing to the government policies and presence of major players in the food industry that supplements the growth of mesifurane market. China is expected to maintain a high dominance throughout the forecast period due to change in consumer lifestyles and presence of healthy food alternatives
· The key players are adopting mergers, acquisitions, strategic partnerships and collaborations as growth strategies to enhance their market position
Major industry participants include:
· Shandong Yaroma Perfumery Co
· Ruiyuan Flavor Co Ltd
· Natural Advantage
· United International Co Ltd
· The Good Scents Company
· Penta Manufacturing Co Ltd
Some of the major developments that have taken place over the past few years include:
· In 2019, a study involved quantitative insights on proteomics and metabolite profiles that included fruit ripening behaviour in Fragaria
· Since 2019, the manufacturers are emphasizing on chemical intermediates for various cosmetic formulations for pleasant fragrance by mesifurane
