Phenylethyl Market Size & Share, by Type (Alcohol, Formate, Acetate); Application (Pharmaceuticals, Research Institutes) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5499
  • Published Date: Jan 05, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Phenylethyl Market size is expected to reach USD 573 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of phenylethyl was over USD 285 Billion. Over the past decade, customer demand for natural products over synthetic chemicals has increased along with knowledge of conservation. According to a global survey, in 2021 approximately 44 percent of consumers will be more inclined to buy from brands that are committed to sustainability. Several impacted industries, including food, personal care, home care, and lawn and garden, are seeing significant market adjustments due to this shifting demand, which is also fuelling the natural goods sector's rapid expansion. Consumers are increasingly favoring products with natural ingredients. Phenylethyl, derived from natural sources like roses, aligns with this trend, leading to higher demand for natural fragrances and flavorings, thus driving the growth of the phenyl ethyl market.

Further, there is an opportunity for phenylethyl market players to focus on product innovation, such as developing new fragrance combinations or enhancing the properties of phenylethyl-based products. This helps companies gain a competitive edge and propel the market’s growth in totality.

Phenylethyl Market
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Phenylethyl Market: Key Insights

Base Year


Forecast Year



~ 6%

Base Year Market Size (2023)

~ USD 285 Billion

Forecast Year Market Size (2036)

~ USD 573 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Phenylethyl Sector: Growth Drivers and Challenges


Growth Drivers

  • Expanding Use in Pharmaceutical Industry- Phenylethyl has applications in the pharmaceutical industry, particularly in producing certain drugs and medications. The increasing prevalence of pharmaceuticals utilizing this compound contributes to the phenylethyl market growth.
  • Rising Demand in Food and Beverage Industry - Phenylethyl is used as a flavoring agent in various food and beverage products. With the growing demand for natural and floral flavors in food items and beverages, the market for phenylethyl in this sector is expanding.
  • Increasing demand in the Cosmetics and toiletries Industry - Phenylethyl finds its place in various Cosmetic Bioactive ingredients  and toiletry products, such as lotions, soaps, and shampoos, owing to its fragrance and other properties. The continual growth in the cosmetics and toiletries industry contributes significantly to the demand for phenylethyl.


  • Supply Chain Disruptions- Phenylethyl is often derived from natural sources like roses or synthetically manufactured. Any disruptions in the supply chain, whether due to weather conditions affecting rose cultivation or issues in the synthetic production process, can lead to inconsistent supply and affect market stability.
  • Fluctuations in the prices of raw materials used to produce phenyl ethyl, tends to cause market hindrance.
  • Market competition from alternative markets.

Phenylethyl Segmentation

Type (Alcohol, Formate, Acetate)

The phenylethyl alcohol segment is poised to garner largest revenue share, accounting for 52% of the global phenylethyl market. Increasing demand for Phenyl ethyl alcohol in the pharmaceutical segment. Around 10,000 tonnes of 2 PE per year are produced in the world. Further, phenylethyl alcohol is used in cosmetics and personal care products. For instance, it is used as a main component in the rose oils that are obtained from rose blossom as it has a mild rose odor. All these cumulatively propel the market’s growth.

Application (Pharmaceuticals, Research Institutes)

The pharmaceutical segment in the phenylethyl market is anticipated to hold the dominant revenue share during the forecast period. Phenylethyl’s alcohol form is used as an excipient in the pharmaceutical industry, which is then used as a carrier or diluent for active ingredients. Further, phenylethyl is used as a preservative and antimicrobial agent to prevent the growth of microorganisms in the products and is responsible for the segment’s growth. Additionally, it is also used in the synthesis of various drugs and APIs. The increasing demand for pharmaceuticals globally, driven by an aging population and the growing prevalence of chronic diseases, is expected to drive the demand for phenyl ethyl alcohol in the pharmaceutical segment. 

Our in-depth analysis of the global phenylethyl market includes the following segments:


  • Alcohol
  •  Formate
  • Acetate


  • Pharmaceuticals
  •  Research Institutes

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Phenylethyl Industry - Regional Synopsis

North American Market Forecast

North America phenylethyl market is estimated to hold the largest revenue share, amounting to 42%. The region showcases a robust growth trajectory, driven primarily by its wide-ranging applications across multiple industries. With the region’s increasing demand for fragrances and scented products, phenylethyl has emerged as a key component in the fragrance industry, prominently featured in perfumes, cosmetics, and personal care items. Additionally, its utilization extends to the pharmaceutical sector, where it contributes to the formulation of various medications. The food and beverage industry in North America also witnessed the integration of phenylethyl as a natural flavoring agent, enhancing the sensory experience of numerous products.

Asia Pacific Market Statistics

The Asia Pacific phenylethyl market showcases significant growth and potential, buoyed by several key factors. This region, known for its burgeoning fragrance, cosmetics, and pharmaceutical industries, has witnessed an upsurge in demand for phenylethyl. Its role as a vital ingredient in perfumes, scented products, and personal care items has contributed to the market’s expansion. As per estimates, the flavors and fragrances sector in 2019 amounted to  USD 12 billion. With a rapidly growing population and increasing disposable income in countries like China, India, and Japan, there’s a heightened consumer inclination toward scented products, driving the demand for phenylethyl.

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Phenylethyl Market size
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Companies Dominating the Phenylethyl Landscape

    • Kdac Chem Pvt. Ltd. 
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Novorate Biotech Co., Ltd.
    • Becton, Dickinson, and Company
    • Penta Manufacturing Company
    • Ungerer & Company 
    • Harmony Organics PVT LTD.
    • Givaudan
    • Augustus Oils Ltd.
    • Axxence Aromatic GmbH


In The News

  • Specialty chemicals business Harmony Organics announced today that it has successfully funded Rs 225 crore from Piramal Alternatives, the fund management arm of the prestigious Piramal Group. This is a calculated effort to capitalize on the expanding prospects within the global fragrance and flavor market. The purpose of this investment is to support Harmony Organics' growth objectives and fortify the company's position in the fragrance chemical industry.
  • Tennants Fine Chemicals, a UK-based specialty chemicals company, had been acquired by Eternis Fine Chemicals for an unknown amount. Through the acquisition, the company hopes to increase the variety of fragrance chemicals it offers and make use of multi-location manufacturing and distribution systems.

Author Credits:  Smruti Ranjan, Rajrani Baghel

  • Report ID: 5499
  • Published Date: Jan 05, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing demand from the fragrance industry, increasing utilization in pharmaceutical production, rising consumer awareness of personal care products, expansion of the cosmetics industry, and advancements in synthesis sand extraction techniques are some of the major growth drivers for the phenylethyl market.

The market size of phenylethyl is anticipated to attain a CAGR of 6 % over the forecast period, i.e., 2024-2036.

The major players in the market are Novorate Biotech Co., Ltd., Becton, Dickinson, and Company, Penta Manufacturing Company, Ungerer & Company, Harmony Organics PVT LTD., AGROCHEMICALS, BEIJING LYS CHEMICALS CO., LTD., Augustus Oils Ltd., Axxence Aromatic GmbH, Tokyo Chemical Industry Co., Ltd., and others.

The Phenylethyl alcohol segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Phenylethyl Market Report Scope

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