The global eugenol market is estimated at USD 549 Million in 2022 and is forecast to surpass USD 1,012 Million by 2032, growing at a CAGR of 6.3% from 2022 to 2032.

A new study on the eugenol industry looks at the market’s growth prospects, prospective revenue sources, and the present and forecast values of its core sectors to analyse the economic impact of COVID-19. The extensive assessments include a list of the major trends driving revenue growth, essential growth drivers, and possible prospects. The global eugenol market dynamics include an assessment of the strategic environment of key regional markets, related regulatory obstacles, macroeconomic dynamics, and the impact of COVID-19 on communities globally. Market estimations were rigorously created by employing a wide range of innovative, sophisticated industry analytical methods.

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Clove and Cinnamon to Emerge as an Important Source of Eugenol

Based on the source type, clove is likely to emerge as a vital source of eugenol. By the end of 2026, clove is estimated to surpass US$ 600 million revenue.

On the basis of end use, the food industry followed by the pharmaceutical industry is expected to witness the highest growth during the forecast period. The food industry is projected to bring in exceed US$ 200 million revenue towards 2026 end.

Based on the application, eugenol is likely to find the largest application as the base ingredient. By the end of the forecast period, eugenol as the base ingredient is estimated to bring in more than US$ 200 million revenue.

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The majority of the businesses profiled in the report have prioritized product development and the expansion of their manufacturing footprint throughout emerging markets. Innovation, partnerships, strategic alliances, working with key players, and bolstering local and international distribution networks are all examples of strategies.

The major corporations have also adopted a variety of strategies, such as partnership, merger, and acquisition. The main tactic to boost their market presence among consumers is product development.

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