Gum turpentine Market Intelligence

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  • Supplier Shortlisting Tool*

With this purchase you will be subscribed for a 12-month PRO membership to the upcoming all new Beroe LiVE (launching in Q3, 2020)

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Are you looking for answers on Gum Turpentine category?

Are you looking for answers on Gum Turpentine category?

  • What are the key trends in Gum Turpentine category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Gum Turpentine industry?
  • How is Gum Turpentine industry performing?

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Report Coverage

  1. Market Dynamics
  2. Turpentine Market Analysis
  3. Value Chain Analysis
  4. Production Trends

Production Size

Global Production Size/ Capacity

$29.5 Bn

CAGR

6-7%

Production Size China

5,429 $/MT

Table of Contents

  1. Executive Summary
  2. Global Fragrance Market
  3. Market Dynamics of Top Fragrances (Agro-based)
  4. Sourcing Strategies for CPG Companies
  1. Market Analysis
  2. Global Flavor and Fragrance Market –Overview
  3. Market Dynamics
  4. Flavor & Fragrance Industry Structure
  1. Turpentine Market Analysis
  2. Value Chain Analysis
  3. Production Trends
  4. Price Analysis
  5. End-use Industry Analysis
  6. Global Trade Dynamics
  7. Cost Structure Analysis
  1. Industry Analysis
  2. Porter’s Five Forces Analysis
  3. Innovations/Technology Trends
  1. Procurement Insights
  2. Procurement Strategy – Best Practices

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Gum Turpentine Global Market Outlook:

Market Size (2019): $29.5 billion (expected to grow at a CAGR of 6–7 percent from 2019 to 2022)

Cost Drivers: Turpentine, raw material cost (43 percent)

Key Market Drivers (2019):
• Rapidly rising income and increased per capita spending on personal grooming
• Rising demand for natural fragrances, due to health impact

Key Market Constraints (2019):
• High initial and R&D costs in the Flavors & Fragrance (F&F) business
• Weather fluctuations
• Labor shortage

Porter's Analysis on Gum Turpentine

Supplier Power

  • Suppliers to fragrance houses have low power, as this industry is fragmented
  • Increase in regulation cost, coupled with erratic supplies of natural ingredients, involves a huge cost in mechanizing and accumulating inventory, which will eventually reduce the profit margins of fragrance houses

Barriers to New Entrants

  • Technical capabilities and access to raw materials are the key risks for new entrants in the fragrance industry
  • Complying several government regulations on safety and sustainability also prevent new entrants to sustain in the market in the long term

Intensity of Rivalry

  • The fragrance industry is highly consolidated with the top 10 fragrance houses, which hold around 80 percent of the total supply
  • High competition, coupled with maturing markets, is intensifying the rivalry
  • Suppliers are attempting to achieve competitive advantage through technological innovation

Threat of Substitutes

  • Switching cost will be high, as most fragrances are formulae patented by FMCG clients
  • As the personal care fragrance industry is highly dominated by synthetic ingredients, threat of substitution from natural products is low

Buyer Power

  • Consumer companies have to completely depend on unique fragrances manufactured by fragrance houses
  • Quality and sustained supplies remain the key factors, which reduces switching among suppliers

With this purchase you will be subscribed for a 12-month PRO membership to the upcoming all new Beroe LiVE (launching in Q3, 2020)

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