Hinokitiol Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Canada, UK - Size and Forecast 2024-2028

Hinokitiol Market Size 2024-2028

The global hinokitiol market size is forecast to increase by USD 13942.2 Th at a CAGR of 4.36% between 2023 and 2028. The market growth is driven by several factors, including the increasing demand for personal care and cosmetics products, the rising use of hinokitiol as a preservative in food and beverages, and its expanding applications in pharmaceutical and healthcare products. These trends highlight hinokitiol's versatility and growing importance across multiple industries. As consumer awareness of natural and effective ingredients increases, the market for hinokitiol is expected to continue expanding, supported by its benefits and diverse applications. This multi-industry demand underscores the compound's potential for sustained growth and innovation.

What will be the Size of the Market During the Forecast Period?

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Market Dynamics

The market is expanding due to its versatile applications across various industries. Known for its anti-fungal effect, hinokitiol is widely used in toothpaste to combat gum inflammation, bad breath, and even yellow smoke spots on teeth. In cosmetics, it's a key component in pearlescent emulsions and transparent anti-dandruff water products, such as Ottoman zinc (ZPT) based formulations. Additionally, hinokitiol finds use in food preservatives and food antiseptics due to its antimicrobial properties. The market's growth is influenced by the availability of raw materials and raw material price volatility, impacting chemical and materials companies. Its presence in detergent, fragrance, pan,  and bath products further highlights its versatility as a cosmetic ingredient.

Key Market Driver

The rising use of hinokitiol as a preservative in food and beverages is the key factor that drives the market growth. One of the main benefits of hinokitiol as a preservative is its antibacterial properties. It has been shown to be effective against a wide variety of microorganisms including bacteria, fungi, and viruses. This makes it an excellent choice for extending the shelf life of various foods and beverages, as it inhibits the growth of organisms that contribute to their contamination and spoilage.

Furthermore, in the beverage industry, hinokitiol can be used to inhibit the growth of various yeasts and molds in products such as fruit juices and soft drinks. This ensures drinks stay fresh and can be safely consumed for a longer period of time. Hence, these factors are expected to grow the demand for hinokitiol in the food and beverage industry, which will drive the growth of the market during the forecast period. 

Significant Market Trends

Rising awareness about the antimicrobial properties of hinokitiol is the primary trend in the market. This growing awareness has led to increasing demand for hinokitiol in various industries, such as cosmetics, pharmaceuticals, and personal care. In the cosmetic industry, hinokitiol has gained popularity as an active ingredient in skin care products. Likewise, the pharmaceutical industry has recognized the potential of hinokitiol as an effective antimicrobial agent. In addition, the personal care industry has also adopted the antibacterial properties of hinokitiol.

Furthermore, the antibacterial properties of hinokitiol have been extended to household products. Hinokitiol is now incorporated into cleaning agents, disinfectants, and air fresheners to provide a safer and more hygienic environment. Its ability to effectively kill bacteria and fungi provides an extra layer of germ protection in households and public areas. Therefore, such factors are expected to grow the adoption of hinokitiol, which will drive the growth of the market during the forecast period. 

Major Market Challenge

High production costs of hinokitiol is the challenge that affects the growth of the market. The high production cost of hinokitiol can be attributed to various factors, such as raw material prices, labor costs, and high energy consumption. These costs affect the overall competitiveness of hinokitiol products in the market. One of the main factors contributing to the increased cost of hinokitiol production is the sourcing and processing of raw materials. Hinokitiol is mainly derived from the wood of trees of the family Cupressaceae.

In addition, the production of hinokitiol may also require the use of specialized machinery operated by skilled technicians, which further increases labor costs. Energy consumption is another important factor that contributes to the increased cost of hinokitiol production. The energy costs associated with the operation and maintenance of devices significantly increase the overall production cost. The high production cost of hinokitiol has an effect on its competitiveness in the global market. As a result, such factors are expected to impede the growth of the market during the forecast period. 

Key Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Xi an Xszo Chem Co. Ltd.: The company offers hinokitiol as an essential ingredient for cosmetics, emphasizing its antibacterial and antifungal effects.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Abcam plc
• AbMole BioScience
• Alfa Chemical Co. Ltd.
• Capot Chemical Co. Ltd.
• Cayman Chemical
• ChemScene
• Glentham Life Sciences Ltd.
• Glixx Laboratories Inc.
• J and K Scientific LLC
• Kisei Tech Co. Ltd.
• Kukjeon Pharmaceutical Co. Ltd.
• Merck KGaA
• Santa Cruz Biotechnology Inc.
• StressMarq Biosciences Inc.
• Tianjin YR Chemspec Technology Co. Ltd.
• Tokyo Chemical Industry Co. Ltd.
• Toronto Research Chemicals Inc.
• Wuhan ChemFaces Biochemical Co. Ltd.
• Zhejiang Multinpharma Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By Application

The cosmetics/personal care ingredients segment is estimated to witness significant growth during the forecast period. An example of the use of hinokitiol in cosmetics is as an antibacterial agent. Hinokitiol's antibacterial properties make it an effective ingredient in various skin care products, such as cleansers, toners, and creams. Another example is the use of hinokitiol as an anti-aging agent. It has antioxidant properties that help to protect the skin from free radical damage.

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The cosmetics/personal care ingredients segment was the largest segment and valued at USD 35,439.2 th in 2018. Hinokitiol may also help promote hair growth by improving scalp health and nourishing hair follicles. By formulating shampoos and conditioners that contain hinokitiol, cosmetic companies are able to provide hair care products that not only clean and condition the hair, but also provide additional benefits for scalp health and hair growth. Therefore, such benefits are expected to grow the adoption of hinokitiol in the cosmetic ingredients segment, which will drive the growth of the market during the forecast period. 

By Region

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North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Rising demand for natural and bio-based ingredients in various consumer products is the key factor for the growth of the regional market. The region has seen a shift in consumer preference towards sustainable and eco-friendly alternatives, leading to an increasing use of hinokitiol.

Furthermore, hinokitiol is widely used in the healthcare industry in North America. Its antibacterial properties make it an effective ingredient in wound-healing products and antiseptic formulations. In addition, hinokitiol has demonstrated its potential as an anti-cancer agent, opening new research and development (R&D) avenues in the pharmaceutical industry. Its use in various healthcare applications has driven demand for hinokitiol in North America. Hence, such factors are expected to drive market growth in this region during the forecast period.  

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Thousand" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Application Outlook
  • Cosmetic/personal care ingredient
  • Food ingredient
  • Pharmaceuticals and life science
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile 
    • Brazil 
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

The market is gaining traction due to its multifaceted applications. Hinokitiol is prominently used as a food preservative and food antiseptic, leveraging its antimicrobial properties to ensure food safety. In personal care, it's a key ingredient in anti-dandruff water product, pearlescent emulsion, and hand soap, enhancing the efficacy and appeal of these items. The market is influenced by raw material availability, which can impact production and pricing. Beyond personal care, hinokitiol finds applications in the automotive and consumer goods industries, showcasing its versatility. As demand for effective, multi-purpose ingredients rises, hinokitiol's role in products ranging from soap to food safety solutions underscores its growing importance across sectors.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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