Aroma Chemicals Market to Grow with a CAGR of 4.33% through 2028
According to
TechSci Research report, “Aroma Chemicals Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Aroma Chemicals Market stood at USD 5.38 billion in 2022 and is
anticipated to grow with a CAGR of 4.33% in the forecast period, 2024-2028.
This can be attributed to the globalization of the fragrance industry. The
fragrance industry has witnessed globalization, with consumers around the world
embracing a diverse range of scents. This globalization has opened up new
markets for aroma chemicals, creating opportunities for manufacturers to cater
to different cultural and regional preferences.
Furthermore, the
integration of digital technologies into fragrance experiences is an emerging
trend set to reshape how consumers interact with scents. Virtual reality (VR)
and augmented reality (AR) applications will allow consumers to explore and
experience fragrances in a digital space, influencing purchasing decisions and
expanding the reach of aroma chemicals into the virtual realm.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on
"Global Aroma Chemicals Market”
Aroma chemicals
play a crucial role in enhancing the taste of beverages and processed food,
with flavors being a key determinant of palatability in edible products. The
growing demand for health-conscious and wellness-oriented foods, along with
regulatory measures and restrictions on certain synthetic flavors, is
propelling the expansion of natural aroma chemicals. The market's growth is
driven by the versatility of natural flavors for various applications, the
additional health advantages offered by specific natural flavors, and
advancements in technological innovation.
During the
COVID-19 pandemic, the World Health Organization (WHO) issued guidelines
emphasizing water hygiene and sanitation practices. Following these
recommendations, consistent washing and cleanliness measures in households,
communities, marketplaces, schools, healthcare facilities, and prisons are
highlighted as crucial in preventing human transmission of the coronavirus.
This emphasis on hygiene has led to a surge in demand for soaps and detergents,
especially in the most affected regions globally.
Consumers
have been reallocating their financial resources from non-essential items to
stockpile essential products, including disinfectants and hygiene and cleaning
items. In India, the immediate impact of COVID-19 on hygiene product categories
was observed in March 2020, with a notable 25% and 60% increase in demand for
floor cleaners and hand washes, respectively. These trends significantly
contribute to the heightened demand for aroma chemicals utilized in the
production of soaps and detergents.
The Global Aroma
Chemicals Market is segmented into source, application, chemicals, regional
distribution, and company.
Based on its source,
the synthetic source segment emerged as the dominant force in the market in
2022, primarily driven by the increased adoption of synthetic products in the
realms of cosmetics, personal care, and food & beverages. Synthetic aromas
play a pivotal role as essential components in the creation of bespoke and
high-quality fragrances. These synthetic aromas find extensive use in cosmetics
catering to diverse user groups, including women, men, and children. The
anticipated rapid growth in demand for synthetic products is attributed to
their ready availability and cost-effective production.
Based on chemicals,
the terpenes & terpenoids segment asserted its dominance in the aroma
chemicals market in 2022. This significant market share can be attributed to
the natural availability of the product and the expanding use of terpenes resin
in various applications, including paints & printing inks, rubber
adhesives, pressure-sensitive tapes, and chewing gums.
Major companies
operating in Global Aroma Chemicals Market are:
- Privi Organics Ltd
- Takasago International Corp USA
- Hindustan Mint & Agro Products Pvt
Ltd
- BASF SE
- Symrise AG
- Firmenich SA
- Agilex Flavors & Fragrances Inc
- Givaudan SA
- Robertet SA
- Bell Flavors & Fragrances Inc
Download Free Sample Report
Customers can
also request for 10% free customization on this report
“The global
aroma chemicals market is on the cusp of transformative trends that will
redefine the landscape of the fragrance and flavor industries. From the rise of
natural and sustainable fragrances to the integration of biotechnology,
customization, and digital experiences, these upcoming trends reflect the
dynamic nature of the aroma chemicals market. Industry stakeholders embracing
these trends are likely to stand at the forefront of innovation, catering to
the evolving preferences of consumers in a scented tomorrow,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Aroma Chemicals Market By Source
(Natural, Synthetic, Natural-identical), By Application (Flavors, Fragrance),
By Chemicals (Benzenoids, Musk chemicals, Terpenes & Terpenoids, Others
(Ketones, Esters, Aldehydes)), By Region, By
Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Aroma Chemicals Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Aroma Chemicals Market.
Contact
TechSci
Research LLC
420
Lexington Avenue, Suite 300,
New York,
United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com