September 21, 2020

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Research Report with COVID-19 Forecasts – Chiral Chemicals Market 2020-2024 | Increasing Demand for Chiral Chemicals from the Pharmaceutical Sector to Boost Market Growth | Technavio

LONDON–(BUSINESS WIRE)–#ChiralChemicalsMarket–The chiral chemicals market is expected to grow by USD 5.89 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Chiral chemicals exhibit superior properties such as varying hardness characteristics and several geometrical and superimposable properties. They are widely used in the pharmaceutical industry as antihistamines, antivirals, antibiotics, antidiabetics, and cancer therapies. They also find many applications in chemical diagnostics and research activities in the pharmaceutical industry. Over recent years, the pharmaceutical industry has witnessed significant growth, especially in North America due to the rapid expansion of the geriatric population. This has increased investments in a number of R&D activities for the development of new drug formulations. These factors have increased the consumption of chiral chemicals in the pharmaceutical sector, which is driving the growth of the market.

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As per Technavio, the high demand for chiral chemicals from the flavors and fragrance industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Chiral Chemicals Market: High Demand for Chiral Chemicals from the Flavors and Fragrance Industry

Chiral chemicals such as menthol, carvone, methyl dihydro jasmonate, and ambergris are widely used in the flavors and fragrance industry. Some of their major applications include lip balms, cough medicines, decongestants, perfumes, and aftershaves. Over the years, the global chiral chemicals market has witnessed a significant increase in the annual production of menthol from countries such as Brazil, India, and China. Besides, the high growth rate of the personal care and cosmetic industry is expected to boost the growth of the global chiral chemicals market during the forecast period.

“Strategic initiatives by major vendors and the growing agriculture industry will

further boost market growth during the forecast period”, says a senior analyst

at Technavio.

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Chiral Chemicals Market: Segmentation Analysis

This market research report segments the chiral chemicals market by Application (Pharmaceutical, Agrochemical, Flavors and fragrance, and Others) and Geography (North America, APAC, Europe, South America, and MEA).

The North America region led the chiral chemicals market in 2019, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the expansion of production bases by global vendors in the region.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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