Eugenol is found in essential oils of various plants. Eugenol is considered as versatile molecule used as an ingredient in various products including pharmaceutical, food industry, fragrance, flavor, cosmetics, etc. Eugenol also exhibits antioxidant, antibacterial, anti-microbial, anti-cancer, and anti-inflammatory activities. Around 80-90% of eugenol is present in clove bud oil, while around 82-88% of eugenol is present in clove leaf oil. Hence, clove is considered as the main source of eugenol. Manufacturers are also practicing new methods for extracting eugenol from clove oil. Solvent extraction, microwave-assisted extraction, and hydro-distillation are some of the highly-preferred extraction processes employed by producers. The food industry is moving towards the application of eugenol in food preservation owing to its antimicrobial properties. The rise in foodborne diseases worldwide is driving the demand for eugenol as a part of an effective preservation strategy.
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As per the latest report by Fact.MR, the global market for eugenol is expected to witness robust growth during 2017-2026. The global eugenol market is also projected to increase to 5.4% CAGR in terms of volume. It is estimated to reach US$ 745.1 million revenue by the end of 2026.
Clove and Cinnamon to Emerge as an Important Source of Eugenol
Based on the source type, clove is likely to emerge as a vital source of eugenol. By the end of 2026, clove is estimated to surpass US$ 600 million revenue.
On the basis of end use, the food industry followed by the pharmaceutical industry is expected to witness the highest growth during the forecast period. The food industry is projected to bring in exceed US$ 200 million revenue towards 2026 end.
Based on the application, eugenol is likely to find the largest application as the base ingredient. By the end of the forecast period, eugenol as the base ingredient is estimated to bring in more than US$ 200 million revenue.
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Asia Pacific Excluding Japan (APEJ) to Witness Robust Growth in the Global market for Eugenol
APEJ is likely to witness the significant growth in the global eugenol market during the forecast period 2017-2026. Clove is considered a precious spice in APEJ and is also used in various food products to enhance the taste. Clove has one of the richest sources of phenolic compounds known as eugenol. Hence, the production of eugenol is increasing in APEJ region. Indonesia, China, and India are the countries in APEJ witnessing the highest growth in eugenol. Manufacturers are also looking for investing in these countries due to the large availability of sources for eugenol including cloves, nutmeg, cinnamon, basil, etc. Increasing application of essential oils in perfumes, cosmetics, and medicines in APEJ region for a long time is also driving demand for eugenol in essential oils, owing to its various anti-microbial properties.
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Key Competitors
Some of the leading companies operating in the global eugenol market are Boc Sciences, Vigon International, Penta Manufacturing Company, Extrasynthese, CV. Indaroma, Berjé, Nusaroma Indonesia Essential Oil, Sigma-Aldrich, Nile Chemicals, and Van Aroma.
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