Introduction : Myrcene, also known as β-myrcene, is classified as a monoterpene. Myrcene is derived from β-pinene by thermally isolating it. Myrcene is a light yellow oily liquid with a balsamic odor. Myrcene is majorly used as an intermediate in producing citronellol, menthol, geraniol, linalool, nerol, and lyral, among other terpene-based aromatic chemicals. The compounds being stable and readily soluble in water are much widely used in the beverage industry. Myrcene is unstable in air, and therefore is converted into myrcenol to be used is the perfumery industry. Myrcene is also used to provide a peppery aroma in alcoholic drinks. Myrcene is also called 7-methyl-3-methyleneocta-1, 6-diene.
Myrcene is a significant element found in parsley, hops, cardamom, wild thyme, bay, and ylang-ylang plants. Myrcene is also stated to show health benefits such as easing chronic pain. Terpenes containing myrcene potentially absorb blood brain barrier boosting the analgesic responses.
Myrcene Market: Dynamics : The myrcene compound is mainly found in cannabis, and has proven to have anti-oxidation properties. Hence, the demand for myrcene is anticipated to increase, owing to the increasing research for novel products and enhanced properties of myrcene. Moreover, the perfume industry, including the flavor and fragrance industry, has been growing at a positive rate. Given its application as an intermediate in the industry, the consumption of myrcene is anticipated to register a marginal growth over the forecast period.
However, growing concerns from the World Health Organization (WHO) International Agency for Research on Cancer (IARC) over myrcene being a potential carcinogen limits its penetration in the mass market. Coupled with that, myrcene being derived from cannabis, the political and cultural factors may act as a restraining factor for the advancement of the global myrcene market. Furthermore, being unstable, the myrcene compound is not directly used in its applications, and its derivatives find limited use in the perfumery industry. This acts as a key factor that limits the growth of the market in value – volume terms.
Being naturally derived from plants, myrcene is demanded in applications requiring natural ingredients. This trend is anticipated to continue in the future until an alternative product for myrcene is not found.
Myrcene Market: Segmentation : The global myrcene market can be segmented on the basis of concentration and application. On the basis of concentration, the global myrcene market can be segmented into: ≤ 80% Myrcene, 80% – 90% Myrcene, ≥ 90% Myrcene. On the basis of application, the global myrcene market can be segmented into: Fragrance Intermediate, Flavor Intermediate.
Myrcene Market: Regional Outlook : From a regional point of view, the Asia Pacific region is estimated to hold a larger share in the consumption of myrcene, due to the growing population. Also, China has been noted to be one of the high intensity regions producing myrcene, given the lesser restrictions and lower labor costs there. Due to the demand for natural ingredients in the perfumery industry, the North American myrcene market is anticipated to follow Asia Pacific in terms of volumetric consumption. With the European flavor and fragrance market at an optimum stance, it is expected that the consumption of myrcene will grow in tandem with it. The perfume industry in the Middle East and Africa, though small, is growing at the fastest rate, and the myrcene market will follow the same. Countries in Eastern Europe and Latin America are expected to experience comparatively slower growth, and hold a minor, but vital share in the global myrcene market.
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Some of the market participants in the global myrcene market identified across the value chain include DRT, SPECTRUM LABORATORY PRODUCTS INC, YASUHARA CHEMICAL CO., LTD., Ernesto Ventós, S.A., Sky Dragon Fine-Chem Co., Ltd., Deqing Wansong Forestry Perfume Manufacturing Co., Ltd.., Jiangxi Hessence Chemicals Co., Ltd., EcoGreen International Group Limited., Zhejiang Xinhua CHEMICAL CO.,LTD, and Toronto Research Chemicals.