Beta Pinene Market Size, Share, Growth, and Industry Growth, By Type (Above or Equal 95% and Below 95%), By Application (Fragrance Ingredients, Terpene Resin, Pharmaceutical Intermediate, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Beta Pinene Market REPORT OVERVIEW

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The global beta pinene market size was USD 177.6 million in 2021 and is projected to grow USD 250.9 million by 2031, at a CAGR of 3.5% during the forecast period.

Beta pinene is a type of organic compound that is found in plants. It is an isomer of pinene, and the other one is alpha-pinene. It is a colorless compound soluble in alcohol and insoluble in water. It smells like woody-green pine. It is released by forest trees and is one of the most abundant compounds. It is an essential oil for plants and has a role in the metabolite of plants. It has a turpentine-like odor and is a colorless, transparent liquid. It tastes like piney turpentine and has a boiling point of 166.0 degrees Celsius. Its melting point is -61.25 degrees Celsius and a flashpoint of 88 degrees Fahrenheit.

The compound is soluble in alcohols such as benzene, ether, and other solvents. But, it is insoluble in water. This liquid is very soluble in chloroform and almost insoluble when mixed in propylene glycol. Additionally, this compound is soluble in oils. It releases irritating fumes and acrid smoke when heated to decomposition. Generally, it can be found in pine trees and in turpentine oils.  It is a significant ingredient in the deodorant disinfectant concentrate. 

Covid-19 Impact: Lockdown Caused Supply Chain Disturbance Which Hindered Growth

The pandemic outbreak created outrage in the healthcare industry due to the rising number of patients. Every market was affected by the epidemic, which had a long-lasting impact on its expansion. The rapid pandemic had an impact on the beta pinene market in a number of ways, including by impeding demand, manufacturing, and shipping. In the international market, there have been significant upheavals. The market experienced a decline in manufacturing, supply, and demand. Due to decreased production and supply of the product, the industry experienced a decline in growth. The market's growth rate was impacted by the market's slow demand-supply balance. During the projected period, it is expected that the market will recover from the effects of the pandemic. Additionally, the pandemic led to an improvement in the healthcare system, which encouraged the use of affordable, sustainable, and energy-efficient technologies. 

LATEST TRENDS

"Use of Product in Food Additives to Surge Growth"

The beta pinene is now also used in the food industry. The product is used as a flavoring agent as it is rich in adding fragrances and flavors. It is a rich class of naturally occurring small molecules by planet mass. It also has potential cognitive health benefits, which are projected to increase beta pinene market growth. This liquid is significant in aroma, and thus, it plays a prominent role in the perception of food.  It is used as an additive for enhancing the taste of food & beverages in snacks, dairy products, confectionery, sauces, and bakeries. It is important to conceal the odor of the ingredient as it mixes with the various ingredient odor and creates a fusty odor. Thus, it is used in covering and giving a soothing fragrance to food and beverages. These factors are projected to boost beta pinene market growth. 

Beta Pinene Market Segmentation

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• By Type Analysis

By type, the market is segmented into above or equal 95% and below 95%.

• By Application Analysis

Based on application, the market is classified into fragrance ingredients, terpene resin, pharmaceutical intermediate, and others. 

DRIVING FACTORS

"Increasing Product Demand from the Food and Cosmetic Industries to Propel Market Growth"

Rising demand for the product due to increasing economies worldwide is projected to contribute to the growth of the market. The adoption of cosmetics and food is increasing due to the rising population across the globe. It is widely used as a flavoring agent in food and cosmetics. It is additionally used as an aromatic compound, carvone, and verbenone, and as an insect repellent and in perfumes. Beta pinene is also used in the pharmaceutical industry. These factors are projected to aid the beta pinene market growth in the aforementioned period. Moreover, it is also used in cosmetics to add fragrance in products. 

"Various Properties of the Product to Enhance Product Demand"

Beta pinene is used in the manufacturing of various medicines. It has various properties such as anti-inflammatory properties, helpful in reducing anxiety, and others. It helps in reducing breathing issues and in preventing respiratory illness. It is induced with antimicrobial properties that control the growth of harmful bacteria inside the human body. Additionally, it is used in the manufacturing of neuroprotective tablets and medications. It is used in the treatment of kidney, bladder, and urinary stones. These factors are projected to surge growth in the market. 

RESTRAINING FACTORS

"Side Effects Associated With the Product to Hamper the Market Growth"

Consuming beta pinene in excess quantities may cause skin irritation or affect the respiratory system. It has flammable and viscous properties, which is forecasted to hamper the adoption of the product. Moreover, recycling beta pinene is challenging, which may limit the market's growth.

Beta Pinene Market REGIONAL INSIGHTS

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"North America to Lead Market Owing to Higher Product Consumption"

North America is projected to hold the maximum part of the beta pinene market share owing to the higher consumption of the product in the food and pharmaceutical industry. 

Asia Pacific is likely to account for a sizable growth due to higher demand and consumption of the product from developing countries such as India, China, and Japan. Additionally, the growth is attributable to the rising demand for personal care products in the region.  

KEY INDUSTRY PLAYERS

"Companies to Invest On Research and Development to Gain a Competitive Advantage"

Leading manufacturers are concentrated on continuously improving their product line by introducing cutting-edge features to set their products apart from those of other companies. Competitors underline the need of maintaining the market's intense rivalry. The main rivals are using a range of analytical techniques. Major players also place a strong emphasis on expanding their reach through partnerships, agreements, joint ventures, expansions, and investments. The introduction of cutting-edge chemicals is anticipated to boost product demand and promote the expansion of the market. Additionally, the key players are investing more on the development of beta pinene. 

List of Market Players Profiled

• Kraton (U.S.)
• DRT (U.S.)
• Sky Dragon Fine-Chem (China)
• Socer Brasil (Brazil)
• GuangDong Pine Forest Perfume (China)
• Sociedad de Resinas Naturales (Spain)
• Xinghua Natural Spice (China)
• Zhongbang Chemicals (China)
• Yasuhara Chemical (Japan)
• Ganzhou Taipu Chemical Co., Ltd. (China)
• Yunnan Linyuan Perfume (China)
• Lush Forest Chemical Co., Ltd (Australia)
• Nippon Terpene Chemicals (Japan)
• Foreverest Resources Ltd (China)

REPORT COVERAGE

The report offers a comprehensive overview of the market, which includes various factors such as growth rate, COVID-19 impact, market drivers, and other such factors. The qualitative and quantitative insights of the market are represented in the report. The report also offers an elaborative analysis of the market and factors expected to surge or retard the growth of the market. Various market insights are covered in the report. Porter’s five force analysis and SWOT analysis are completed to gain market insights. The report also represents the information about the key market players. The trends driving growth in the industry are also shown in the report.