Global Sclareol demand is
expected to witness a steady growth on account of its increasing as a
flavouring agent. Sclareol is an organic compound with a chemical formula
C20H36O2. It is an amber colour solid like appearance and is slightly soluble
in water. It derives its name from the fragrant chemical compound clary sage.
Sclareol is broadly classified as bicyclic diterpene alcohol. Usage of sclareol
as a food flavouring is a major application driving the overall demand. This
compound is used in the manufacturing of confectioneries, cookies, pastries and
candies. This chemical is widely used to increase the food aroma and give the
consumers a rich feel and taste. Growing demand from confectionary
manufacturing provides great opportunities in near future.
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Further, sclareol is used as a
cosmetic additive, which drives the market demand, especially in Europe.
Perfumes, deodorants, and skin creams contain sclareol which enhances the
fragrance. The perfume and cosmetic industry are expected to provide great
opportunities for propelling the demand in near future. These compounds are
used in detergents and soaps to increase its fragrance capabilities. Sclareol
usage in the field of medical sciences is expected to provide great
opportunities in the near future. They are used to kill human cells and colon
cancer cells. Apoptosis is a medical treatment used for killing leukemic cells
which use sclareol. Government regulations and safety related to this organic compound
offers a major challenge for the overall industry growth. Availability of
substitutes is expected to hamper the growth of overall industry in near
future. Advancement of technology has resulted in the development of new
flavouring agents which is expected to challenge this industry. There are
significant threats for the vendors due to backward integration by the end user
industries.
Market segmentation is done on
the basis of its end use industry, which includes food, cosmetics and
healthcare. Food industry accounts for maximum segment share owing to its high
usage as a flavouring agent. Segmentation demand is followed by cosmetics owing
to its wide application as a fragrant. Increasing disposable income and rising
standard of living in Asia Pacific coupled with retail sector growth has
propelled the demand for detergents and soaps.
Asia Pacific has been the leading
market in recent years in terms of demand and is expected to continue its
increasing application in food industry. China has shown substantial production
and consumption of sclareol as a food flavouring agent. Emerging economies such
as India and China are expected to witness a significant growth on account of
high investment in organic chemical manufacturing. Further, regional demand is
followed by North America mainly on account of increasing usage in the
healthcare industry. Government initiatives in the field of medical research
have fuelled the demand in the developed economies such as the US and Canada.
Europe is expected to show a steady growth over the forecast period with
increasing demand on account of perfume and cosmetic applications. South
America and Africa is expected to witness a stagnant growth owing to the slow
growth of overall development of application industries.
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Major players operating in the market are Vitas laboratories, BOC
sciences, Tractus, Norris Pharm, ChemMol, AN Phamatech, Syntree, King
scientific, biosynth. Companies are focussing on research and development in
order to find out new applications for sclareol. This is expected to diversify
the application portfolio and therefore propelling the demand in near future.
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