Coumarin Market: Current Analysis and Forecast (2022-2028)
Emphasis on application (Medicine, Active Pharmaceutical Ingredient, Perfumery & Fragrance and Detergents, Electroplating & Coating) and Grade (Pharmaceutical industry and Cosmetic Industry) and Region/Country
The Global Coumarin Market was valued at ~ USD 350 million in 2021 & is expected to grow at a CAGR of ~6.5% from 2022-2028. The increase in Coumarin use in the food and beverages industry is expected to fuel the market growth globally. Coumarin is less expansive and is widely used in the food industry as an alternative to vanilla, due to its similar aroma and flavor it is commonly added to baked foods and beverages. Additionally, coumarin has various medicinal properties such as anti-coagulant, anti-oxidant, and anti-inflammatory owing to this it is widely used in the preparation of medication by pharmaceutical companies.
Some of the major players operating in the market include Alfa Aesar, Thermo Fisher Scientific., Omkar speciality chemicals Ltd., Eternis aroma chemicals, NS Chemicals, Yingyang (china) Aroma Chemical Group, Anhui Jinpeng, Shanghai Brightol International Co., Ltd, TCI AMERICA, Merck KGaA, MP BIOMEDICALS.
Insights Presented in the Report
“Amongst application, the medicine segment is anticipated to grow with the significant CAGR in the forecasting period”
By application, the market is segmented into medicine, active pharmaceutical ingredients, perfumery & fragrance, detergents, and electroplating. The medicine segment is expected to grow with a significant CAGR during the forecasting period. Coumarin is a potent antioxidant that can help the body to protect against stress and damage caused by oxygen-free radicals. Additionally, coumarin has other medicinal properties such as anti-inflammatory and blood thinning properties. Thus, owing to the wide range of medicinal properties the market is anticipated grow with a significant CAGR during the forecasting period.
“Amongst grade, the pharmaceutical industry segment held the majority share of the market in 2021”
By grade, the market is bifurcated into pharmaceutical and cosmetic industries. Amongst these, the pharmaceutical industry, segment is expected to grow at a significant growth rate during the forecasting period. This is attributed to its pharmacological application, owing to this it is widely being used in the treatment of chronic ailments such as antitumor, photo-chemotherapy, anti-HIV, antibacterial and antifungal, anti-inflammatory, and anticoagulant. Additionally, the rise in the prevalence of chronic disease globally is fueling the market growth. For instance, according to the world heart federation organization, 2022 report, around 5-10% of the 28 million individuals living with familial hypercholesterolemia, a genetic disorder responsible for the elevated LDL levels in the blood. Thus, the above-mentioned factors are anticipated to fuel the market growth in the forecast period.
“North America dominated the Coumarin market in 2021”
North America dominated the Coumarin market in 2021. This is due to the increase in the use of Coumarin in the production of cosmetics and fragrant products. Coumarin has a vanilla-like fragrance that is commonly used in perfumes, lotions, and other personal care products. This is increasing the demand for the use of Coumarin-based products. Additionally, the shifting consumer preference towards non-hydrated hygiene items to reduce foul odors is driving the market growth of this segment.
Coumarin Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global coumarin market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Coumarin Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Coumarin market were the three major steps undertaken to create and analyze the adoption of Coumarin in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Coumarin market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Coumarin market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Coumarin market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report application and grade. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Coumarin market. Further, we conducted factor analysis using dependent and independent variables such as application and grade of the Coumarin market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Coumarin market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Coumarin market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Coumarin market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Coumarin market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global coumarin market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global Coumarin market.
The main Objective of the Global Coumarin Market Study
The current & future market trends of the global Coumarin market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Coumarin Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the application and grade
- Define and analysis of the regulatory framework for the Coumarin industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviours of the industry
- Analyze the current and forecast market size of the Coumarin market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Coumarin market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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