PHENYL ETHYL MARKET ANALYSIS
Market Dynamics:-
Phenyl ethyl compounds are primarily used as preservative and scent enhancer in personal care products such as soaps and perfumes, thereby, increasing the shelf life of cosmetic products. It is also used as flavoring agent in food products. Growing personal care industry is one of the prime factors for growth of the phenyl ethyl market. For instance, according to India Brand Equity Foundation, India personal care market valued at US$ 6.5 billion in 2016, and is expecting to reach US$ 20 billion by 2025.
Phenyl ethyl isothiocyanate has potential for chemoprevention of cancers such as prostate cancer. Phenyl ethyl isothiocyanate not only prevents the initiation phase of carcinogenesis process but also inhibits the progression of tumor genesis. Globally, growing oncology industry would propel demand for phenyl ethyl isothiocyanate during the forecast period. According to Community Oncology Alliance, global oncology therapeutic medicine market is expected to reach US$ 200 billion by 2022.
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