Phenolic Compounds Market – Dynamics: Reach, Worth, Emerging Patterns, Projections, and Sector Analysis
Executive Summary Phenolic Compounds Market :
The phenolic compounds market is expected to witness market growth at a rate of 6.90% in the forecast period of 2021 to 2028 and is expected to reach USD 39.64 billion by 2028
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Phenolic Compounds Market Overview
The global phenolic compounds market is segmented based on source, type, and application. Natural and synthetic are the two primary sources of phenolic compounds, with the natural segment expected to witness significant growth due to the rising consumer preference for organic and natural products. In terms of types, the market includes benzoic acid, phenol, salicylic acid, flavonoids, and quinones, among others. Each type has unique properties and applications, contributing to the diversification of the market. Furthermore, the application segment of the market covers functional food and beverages, pharmaceuticals, cosmetics, agriculture, and others. The increasing awareness regarding the health benefits of phenolic compounds across various industries is driving market growth.