The Global Synthetic Camphor Market size is expected to generate revenue of USD 1,819.2 million in 2021 and is projected to reach USD 2,537.6 million by 2028 growing at a CAGR of 4.9% during the forecast period (2021-2028). The growth can be attributed to factors such as increasing demand for food-grade camphor products across the globe and the rapid emergence of the pharmaceutical industry in emerging economies such as China and India owing to rising disposable incomes among consumers coupled with favorable government regulations towards manufacturing pharmaceutical drugs domestically. In addition, increasing consumption of synthetic camphor in the agriculture sector due to its broad-spectrum antibacterial properties against various pests is also driving the growth of this market globally.
Synthetic camphor is a type of aromatic material that has been manufactured synthetically. It falls under the category of colorless, odorless, and crystalline solid substance with a melting point (mp) of 68°C to 71°C. Synthetic Camphor can be degraded into simpler compounds by mild oxidizing agents like hydrogen peroxide. In pharmaceutical industries, it is used as a preservative and antioxidant in various products. Synthetic Camphor has been also extensively used for the preparation of other chiral compounds like CINNAMALDEHYDEs or CARVACROL. In the food industry, synthetic camphor has shown to be effective against termites when mixed with white sugar since its odor can't be detected by the termite's olfactory system. It is also used as an agent which creates mild fragrance in some foods and beverages such as ice cream, chocolate, etc.
On the basis of Types, the market is segmented into Powder Camphor, Oil Camphor, and Tablets Camphor.
Powder Camphor, the most common form of camphor in the market with a share of over 60%. Camphor powder is mostly used in pharmaceuticals and perfumes. It can also be used as a preservative, flavoring agent, antimicrobial agent, or plasticizer.
Oil Camphor is a liquid form of camphor, which contains more than 70% of the substance. It can be used as an ingredient in food processing and pest control products such as insecticides due to its low toxicity.
Tablets Camphor is the least common form of camphor in the market with a share below 20%. Tablets Camphor are usually used for pharmaceuticals and perfumes.
On the basis of Application, the market is segmented into Pharmaceuticals, Food, Agriculture, Chemicals, and Others.
The use of Synthetic Camphor in Pharmaceuticals is primarily for the extraction and purification of natural camphor. It can also be used as a preservative, flavoring agent, or antimicrobial agent. Synthetic Camphor aids to cure ailments such as asthma, pain relief from arthritis, and muscular aches due to cold and flu. The Tablets form of Synthetic Camphor is often prescribed by physicians during pregnancy since it does not affect fetal development unlike other forms like Oil Camphor which should not be consumed during pregnancy unless medically advised.
The Oil Camphor form of Synthetic Camphor is often used as a flavoring agent in food items like ice cream, chocolates, and baking. Others forms like Tablets or Powders are also used as preservatives to prevent the growth of fungi which causes spoilage.
Some Synthetic Camphor forms like powder and oil are also used as pesticides for crops. They are also used in controlling the growth of bacterial pathogens, nematodes, and fungi.
The Tablets or Powders form of Synthetic Camphor is also used in the production of solvents and other volatile organic compounds. The oil form is also used as a solvent in the production of paints, lacquers, and varnishes. Both powder and oil forms are also found to be useful in making plasticizers for polyesters.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
In North America, an increase in the demand for synthetic camphor products such as pharmaceuticals, food, and agriculture is driving the market growth in this region. In Latin America, the significant share of 46% held by the Asia Pacific countries has been due to an increase in demand for pharmaceutical applications followed by Europe with 32%. On account of growing preference towards natural ingredients over processed ones, there is an expected increase in production or consumption expenditure on natural ingredients that will provide an opportunity for manufacturers operating in this segment.
In the Asia Pacific - In 2017, the market in this region witnessed a growth of over 13% owing to new product launches by major companies operating in the global synthetics camphor markets such as Givaudan SA, Firmenich S.A., and Kao Corporation Limited for pharmaceuticals application which led to an increase in demand during last five years' period from 2012 to 2017.
The Middle East & Africa - This region is witnessing significant growth due to increased awareness about synthetic camphor products among people living here driven by increasing health concerns related to natural ingredients usage especially herbal medicines consumption that has been evolving into trend given its potential benefits on wellness regime both locally and globally.
The global synthetic camphor market is expected to witness significant growth in the years to come as a result of factors such as increased awareness about benefits of synthetics, rising health concerns related to natural ingredients usage especially herbal medicines consumption that has been evolving into trend given its potential benefits on wellness regime both locally and globally. Moreover, increasing demand from pharmaceuticals application was witnessed during the last five years' period 2012-2017 which led to an increase in demand for synthetic camphor products over traditional ones. Henceforth the rise in the number of consumers who are willing to pay higher prices when it comes to marketing their brands will also further augment this industry's revenue figures over time due to profit margins being almost four times what they were ten years ago.
Up Market Research published a new report titled “Synthetic Camphor Market research report which is segmented by Types (Powder Camphor, Oil Camphor, Tablets Camphor), By Applications (Pharmaceuticals, Food, Agriculture, Chemicals, Others), By Players/Companies Apt Exim, Beijing Herbal Health Biotech, Benefont, Camphor & Allied Products, Jadran Galenski Laboratorij, Malligha Asafoetida, Recochem, Fujian Green Pine, Hiya International”.
|Report Attributes||Report Details|
|Report Title||Synthetic Camphor Market Research Report|
|By Type||Powder Camphor, Oil Camphor, Tablets Camphor|
|By Application||Pharmaceuticals, Food, Agriculture, Chemicals, Others|
|By Companies||Apt Exim, Beijing Herbal Health Biotech, Benefont, Camphor & Allied Products, Jadran Galenski Laboratorij, Malligha Asafoetida, Recochem, Fujian Green Pine, Hiya International|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||229|
|Number of Tables & Figures||161|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Powder Camphor, Oil Camphor, Tablets Camphor and By Application Pharmaceuticals, Food, Agriculture, Chemicals, Others.
Some of the companies that are profiled in this report are:
Synthetic Camphor Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Synthetic Camphor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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