Summary£ºIn the daily chemical industry, essences and fragrances are used for researching and developing formulas, featuring powerful functionality, simple operation, low maintenance costs, long service life, and high production efficiency.
¡¡¡¡Since the 19th century, the spice industry around the world has developed rapidly, and from food to daily use, people are increasingly inseparable from various spice ingredients. There are thousands of fragrance ingredients currently in use worldwide, mainly from three major sources. One is natural plants, such as essential oils and extracts of various flowers; Secondly, animals such as musk; The third is synthesis, which refers to various pure aromatic raw materials with single molecular structures. Therefore, according to the source, the classification of essence and fragrances can include natural plant extracts, animal sources and chemical synthesis.
In short, essence and spice can be divided into essence and spice, with market share close to 50%, while spice can be divided into natural flavor and synthetic flavor. There are a wide variety of synthetic spice products with diverse product structures, which can better meet downstream demand and account for over 70% of the spice market share. The process of blending essence involves a variety of spices. The blending formula is more differentiated and diversified. Essence and spice products are diversified, which can meet customers' differentiated needs and improve customer stickiness.
At present, the global daily chemical market is growing steadily, and the demand for related essence and fragrances is rising steadily. According to the prediction of Data Bridge, with the increasing demand for detergent functionalization and the rapid growth of demand in emerging markets, the global liquid detergent market is expected to maintain a rapid growth, and the demand for related detergent essence and spices is also expected to increase accordingly. From 2005 to 2019, the global cosmetics market sales increased from approximately $267 billion to approximately $500 billion, with an average annual compound growth rate of about 4.6%, maintaining stable growth; With the steady growth of cosmetics market demand, it can be predicted that the market demand for daily chemical essence and fragrance products will also maintain a steady growth.
¡¡¡¡In the future, with the development of China's economy and the improvement of national living standards, the scale of downstream food, daily necessities and other industries will be improved, and the industry will be upgraded. China's essence and spice market will also continue to flourish. In the diversified downstream development environment, Wanxiang Technology, as an excellent enterprise with a certain position in the industry and products recognized by the market, will also continuously improve the company's profitability and industry influence by deeply cultivating the market, refining products, and catering to market demand with differentiated products.
Laundry products include soap and synthetic detergents, and in recent years, the Chinese detergent industry has maintained a sustained development momentum. The sub industry of washing products in our country is presenting a new competitive pattern, and the product structure is showing a trend of continuous optimization. Since essence plays a major role in synthetic detergents, especially liquid detergents, and to some extent reflects the quality and grade of products, the adjustment of the product structure of detergent products is more conducive to the development of the fragrance essence industry. Data shows that from January to November 2020, China's synthetic detergent production reached 10.089 million tons, a year-on-year increase of 7.6%.
Oral cleaning products mainly include soap toothpaste and washing toothpaste, tooth fixative paste and tooth fixative powder, mouthwash, oral cleaner and spray, etc. The sustained population growth and income increase, coupled with product innovation, public health programs, and advertising promotion, have driven the growth of the toothpaste market. China is the country with the largest production and sales volume of toothpaste in the world, and the top ten leading toothpaste giants in the world have all entered the Chinese market.
In an era where people are increasingly concerned about their own image and appearance, cosmetics have become a rigid demand. As an emerging market for cosmetics, China's cosmetics consumption is in a stage of rapid growth. Data shows that the overall market capacity of China's cosmetics industry reached 477.72 billion yuan in 2019, with an average annual compound growth rate of 9.9% from 2014 to 2019. The cosmetics industry is currently in a period of high-speed growth. It is expected that the market capacity of China's cosmetics industry will reach 828.2 billion yuan by 2024, with an average annual compound growth rate of about 11.6% from 2019 to 2024.
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