“Aroma Chemicals Market is valued at USD 5.16 Billion in 2019 and expected to reach USD 7.81 Billion by 2026 with the CAGR of 6.1% over the forecast period”
Global Aroma Chemicals Market :Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027– Increasing demand for healthcare products, food, personal care, and household products across the globe is expected to drive the growth of Global Aroma Chemicals Market over the forecast period.
Scope of Global Aroma Chemicals Market Report–
Aroma chemicals are a particular chemical substance which has a unique smell and has the volatility to reach the olfactory nerves of the nose. The aroma chemicals are made by the combination of natural and synthetic ingredients which is used for consumer care or personal care. These are widely used due to their physical properties like volatility, polarity, stability and surface activity. Some of the aroma chemicals are; geranyl acetate, methyl formate, methyl acetate, ethyl acetate, nerol, linalool, menthol, eugenol, thymol, indole, etc. These are used by various industries such as personal care, medical, food & beverages and others. The creation of new and unique aroma chemicals has always represented a pursuit of effectiveness and cost-efficiency, but with today’s heightening ecological sensitivities, there is the additional concern that aroma chemicals and their processes be sustainable as well.
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Global aroma chemicals market report is segmented on the basis of product type, application, and region & country level. Based on product type, global aroma chemicals market is classified as the natural aroma chemicals and synthetic aroma chemicals. Based upon application, global aroma chemicals market is classified into foods and beverages, cosmetics, personal and household care and others.
The regions covered in this aroma chemicals market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of aroma chemicals is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Aroma Chemicals-
Some major key players for global aroma chemicals market are BASF, Solvay, Kao, Takasago, Bell Flavors and Fragrances, Sensient Technologies, Symrise, Vigon International, Givaudan, Robertet, T.Hasegawa, Treatt, Jiaxing Wintrust Flavours Co., Ltd., YingYang (China) Aroma Chemical Group, Silverline Chemicals Ltd., PFW Aroma Chemicals B.V and others.
BASF Acquired Isobionics
September 26th, 2019; BASF acquired Isobionics. By acquiring Isobionics, an innovation leader in biotechnology which is serving the global market for natural flavours and fragrances (F&F) BASF enters the market for natural F&F ingredients. Being known as a leading supplier of synthetic aroma ingredients, the company now broadens its portfolio with natural ingredients such as nootkatone and valencene. BASF intends to advance the technology for biotech-based aroma ingredients by combining its own R&D excellence and broad market access with the know-how and expertise of Isobionics.
Global Aroma Chemicals Market Dynamics–
The global aroma chemicals market is growing at a significant pace owing to the various driving factors such as increasing demand for health additives in the healthcare industry due to its certain characteristics of making the food healthier. According to the World Health Organization (WHO), the global food & beverage industry is growing at around 5% a year and global expenditure on food products by consumers is expected to reach 20 trillion by 2030. Moreover, the growing consumer preferences coupled with growth in the retail sector in emerging economies is also supplementing the demand for cosmetics and healthcare products, which in turn is driving growth of aroma chemicals market globally. However, high volatility in price due to the changing behaviour of consumer is projected to hinder the growth of aroma chemicals market.
Global Aroma Chemicals Market Regional Analysis–
North America is expected to dominate the global aroma chemicals market due to high disposable income led to the increased demand for cosmetics, personal care products, and food and beverages in this region. North America will hold a major share in the global aroma chemicals market, due to a huge demand for lifestyle products in the region. According to World Organization (WHO), in 2018, the cosmetics and personal care industry is worth 89.5 billion in the U.S. Subtracting the personal care share of 22.54 billion, this would mean the cosmetics market is worth approximately 66.96 billion.
Asia Pacific is projected to experience fastest growth among the regions owing to growth in India and China. The major factors such as increasing disposable income have generated demand for cosmetic and healthcare products, which in turn fuels the growth of aroma chemicals market. According to World Organization (WHO) in 2016, the estimated 50 billion in domestic sales 7% to 10% annual growth predicted in China is projected to become the largest for personal care and cosmetics products globally in the next five to ten years. In addition, developing retail sector especially in India and China and increasing disposable income and consumer awareness on hygiene and personal care are also supplementing the market growth in this region.
Key Benefits for Global Aroma Chemicals Market Report–
- Global Aroma Chemicals Market report covers in depth historical and forecast analysis.
- Global Aroma Chemicals Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global Aroma Chemicals Market report helps to identify opportunities in market place.
- Global Aroma Chemicals Market report covers extensive analysis of emerging trends and competitive landscape.
Global Aroma Chemicals Market Segmentation:–
By Product Type:
- Natural Aroma Chemicals
- Synthetic Aroma Chemicals
- Foods and Beverages
- Personal and Household Care
By Regional & Country Analysis:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- The Middle East and Africa
- Rest of Middle East and Africa
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