Jasmal Market Size Growth 2024 Forecast Research ReportMay 5, 2021
Jasmal is the trade name given to chemicals with chemical formula C14H18O. These chemicals are used in the production of perfumes. Physical appearance of jasmal is mostly colorless to pale yellow clear liquid with long shelf life. It is stored in cool and dry place in tightly sealed containers protected from heat and light. Jasmal has a typical odor of herbal oily green jasmine. Thus, it is commercially useful for the manufacture of jasmine perfumes. Perfumes can be described as the complex mixture of synthetic/natural substances and solvents in order to provide pleasant odor to humans, objects, living space, and food, among others. Jasmal is mixed with solvents or fixatives for the production of perfumes; the most commonly used solvents are alcohols. Other types of solvents include coconut oil, jojoba oil, and liquid waxes.
The market for jasmal is compact; it accounts for small share of the global fragrance market owing to the presence of various economical and efficient substitutes. However, the jasmal market is anticipated to expand during the forecast period due to the ever-increasing demand for jasmine perfumes among women across the globe. Rise in population and ascending demand for personal care products are the key factors propelling the jasmal market. Increasing in consumer income is expected to be another factor driving the demand for jasmine perfumes. Fragrances are considered to have positive effects on people. For instance, they are known to alleviate stress levels among consumers. This is also anticipated to propel the demand for perfumes, thereby boosting the jasmal market.
Usage of certain personal care products such as perfumes can potentially cause skin problems such as allergies. It can even cause skin cancer. This is one of the factors that can hamper market growth. Implementation of stringent government regulations on the usage of certain chemicals can also adversely affect the jasmal market. REACH is an example of such regulatory boards that govern in Europe, REACH is an abbreviation which stands for registration, evaluation, authorization and restriction of chemicals which is legislated in the European Union.
In terms of geography, Europe accounted for major share of the jasmal market in 2015. Its share is anticipated to expand at a significant pace owing to the strong growth in the cosmetic industry in the region. Increase in disposable income of consumers in Europe and North America is likely to boost the demand for fragrance, thereby driving the demand for jasmal based jasmine perfumes in these regions. France and the U.K. are likely to constitute major share of the jasmal market during the forecasted period.
Manufacture of perfumes is expected to witness shift from mature markets of North America and Europe toward the developing economies of Asia Pacific such as India and China owing to the presence of less stringent government regulations in Asia Pacific compared to those in North America and Europe. The market for jasmal in Asia Pacific is expected to expand at a significant pace due to the changing lifestyle and increasing income of consumers in developing economies such as India and China. Technological advancement, competitive production cost, and high economic growth are some of the factors fueling the jasmal market in Asia Pacific.
Key players operating in the market of jasmal are The Good Scents Company, The Lermond Company, LLC, and International Flavors & Fragrances Inc.