Phenylethylamine Market Size, Industry Growth, Sales Revenue, COVID-19 Market Scenario, Opportunity, and Industry Expansion Strategies to 2027
The global phenylethylamine market is expected to be valued at USD 723.7 million in 2027 from USD 516.8 million in 2019, registering a CAGR of 4.2% through the forecast period. Phenethylamine is an organic compound and a natural monoamine that acts as a stimulant in the central nervous system of humans, often emulating the effects of epinephrine, dopamine, and norepinephrine. It is usually consumed to enhance athletic performance, trigger weight loss, reduce depression and stress levels, invigorate one’s mood. In its medical applications, the substance is used to treat various attention deficit disorders and chronic sleep disorders such as narcolepsy and insomnia. Phenylethylamine is known for its excellent antidepressant, anti-epileptic, and analgesic properties and is thus used in pharmaceutical, nutraceutical, food & beverage, and personal care products. The human body naturally produces phenylethylamine from the amino acid L-phenylalanine and enzyme aromatic L-amino acid decarboxylase through enzymatic decarboxylation.
However, the global phenylethylamine market growth is further fueled by the growing use of phenylethylamine in psychoactive and mind-relaxing products and the rising demand for medicated personal care products, such as fragrant, antiperspirant deodorants and oral care products. The growing focus on improving life’s quality, rising health & wellness trends, increasing demand for premium-quality beauty & personal care products, augmented usage of pain relief products, and soaring income levels of individuals are the other vital factors propelling the global market growth. Moreover, the increasing consumption of psychoactive substances, such as alcohol, tobacco, and cannabis, especially among the younger generation to treat anxiety or for recreation, is another crucial factor boosting the market growth. However, stringent government regulations against the use or consumption of phenylethylamine in several countries are expected to hamper market growth in the future.
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Key findings from report:
- Dark chocolate is one of the most commonly consumed products that contain phenylethylamine in high amounts. The ever-increasing demand for dark chocolates is a significant factor fueling the growth of the global phenylethylamine market. According to an article published in The New Indian Express in July 2020, dark chocolate significantly alleviates symptoms of depression and anxiety in people. Hence, the COVID-19 lockdown period witnessed a massive surge in dark chocolate sales. A majority of the populace started observing augmented stress levels and symptoms of depression due to self-isolation.
- Based on grade, the domestic grade sub-segment is the leading market segment, accounting for the highest revenue share. The increasing use of phenylethylamine in a wide range of personal care, nutraceutical, and pharmaceutical products intended for domestic use is a key parameter influencing this segment’s growth. The segment is poised to register the fastest CAGR of 5.3% over the forecast timeframe.
- Among the leading regional markets, the Asia Pacific phenylethylamine market holds the most significant market share. The increasing demand for nutraceuticals, increased purchase of pharmaceutical drugs like antidepressants and pain killers, escalating demand for luxury beauty & personal care products, and the surging focus on health & wellness are the key factors promoting market growth in this region.
- Leading market players include BASF SE, Phoenix Aromas & Essential Oils LLC, Purong Essences, Axxence Aromatic GmbH, Arora Aromatics Pvt. Ltd., Chemical Point UG, Jiaxing Sunlong Industrial & Trading, Robertet Group, Aroma Chemical Services International GmbH, and DSM.
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For the purpose of this report, the global phenylethylamine market has been segmented on the basis of product formation, grade, application, sales channel, and region:
By Product Formation (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
By Grade (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Industrial Grade
- Domestic Grade
By Application (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Food & Beverages
- Personal Care Products
- Chemical Industry
By Sales Channel (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Online Retail
- Offline Retail
By Region (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Table Of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Phenylethylamine Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
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