High Demand From EMEA to Boost the Global Farnesene Market | Technavio

The latest market research report by Technavio on the global farnesene market predicts a CAGR of more than 26% during the period 2017-2021.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171205006237/en/

The report segments the global farnesene market by application (cosmetics, flavor and fragrances, lubricants, and performance materials), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global farnesene market, according to Technavio chemicals and materials researchers:

• Increasing demand for cosmetics: a major market driver
• In 2016, the cosmetics segment dominated the market with close to 40% share
• EMEA dominated the global farnesene market with close to 47% share in 2016
• Amyris, Intrexon, Toronto Research Chemicals, Chromatin, and Penta Manufacturer are the leading players in the market

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Increasing demand for cosmetics: a major market driver

Increasing demand for cosmetics is one of the major factors driving the global farnesene market. In the cosmetic industry, the trend of using bio-based resources over synthetic products for various anti-aging cream, lotion, and other cosmetics is taking precedence. The demand for bio-based products is growing at a steady rate year-on-year. This trend is aiding in the high consumption of farnesene in the cosmetics sector, owing to its less toxicity and excellent biodegradable characteristics.

According to Mohd Shakeel Iqbal, a lead analyst at Technavio for specialty chemicals research, “The increasing older population and the subsequent demand for anti-aging products such as creams, moisturizers, anti-wrinkle creams, and skin whitening products will drive the global farnesene market during the forecast period. The demand for youthful, skin-brightening and anti-aging cosmetic products is quite high, which augurs well for the global farnesene market.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

EMEA: largest farnesene market

Technavio researchers anticipate high growth for the global farnesene market in EMEA due to the high demand for cosmetics and flavor and fragrances. The Middle East is also a growing market for farnesene, owing to high demand from the cosmetics industry. This is attributed to high disposable income in the region, which fosters the demand for cosmetic products.

In Europe, Germany is a leading market for farnesene. It is one of the manufacturers and consumers of cosmetics in the world. Also, the support from the European Commission also aids in developing alternate applications for the consumption of farnesene such as the tire industry. Such developments augur well for the growth of the market during the forecast period.

Competitive vendor landscape

The global farnesene market is very niche. It is very concentrated due to the presence of only a few players. The major vendors of the farnesene market compete on the basis of factors such as operation cost, price, economies of scale, product quality, and innovation. The major players in the farnesene market can drive down the market prices because of the economies of scale in the production.

Get a sample copy of the global farnesene market report free of cost

Access Technavio’s continuously growing specialty chemicals research library and find expert analysis on hundreds of markets.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171205006237/en/