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Aroma Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
Market Overview:
The global aroma chemicals market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Aroma chemicals or odorants are a group of molecules that are used as an ingredient to add flavor and fragrances to various products. They consist of synthetic, natural and nature-identical components. The natural compounds are extracted from plants and animals, whereas the nature-identical and synthetic compounds are manufactured artificially in labs using various oils and fats. Perfumers blend specific quantities of aroma chemicals to create a perfume formula. They can also be added in baked products, candies, alcoholic and non-alcoholic beverages, and to add fragrance to cosmetics, toiletries and cleaning products.
The rising demand for natural fragrances and aromas across the globe is the key factor driving the growth of the market. With the increasing disposable incomes, consumers are now more inclined toward spending on premium products for personal care, beauty, medicines and homecare, which are available in a variety of fragrances. Furthermore, growing consumer awareness regarding the maintenance of hygiene has significantly impacted the demand for cleaning products and toiletries that use aroma chemicals as one of their key ingredients. Also, perfume manufacturers are experimenting with new synthetic fragrances to replicate the natural ones by incorporating aspects of biochemical sciences. Moreover, there is an increase in the usage of sulfur-containing compounds in perfumes as they are some of the strongest odorants that provide distinctive aromas to scents. Other factors such as the rising trend of aromatherapy for maintaining emotional and psychological wellbeing and increased focus of research and development (R&D) are also significantly contributing to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global aroma chemicals market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on type, product and application.
Breakup by Type:
- Natural
- Synthetic
Breakup by Product:
- Benzenoids
- Musk Chemicals
- Terpenoids
- Others
Breakup by Application:
- Soaps and Detergents
- Cosmetics and Toiletries
- Fine Fragrances
- Others
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the major players operating in the industry.
IMARC Group’s latest report provides a deep insight into the global aroma chemicals market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the aroma chemicals industry in any manner.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2020 |
| Historical Period | 2015-2020 |
| Forecast Period | 2021-2026 |
| Units | US$ Billion |
| Segment Coverage | Type, Product, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Question Answered in this Report
We expect the global aroma chemicals market to exhibit a CAGR of around 5% during 2021-2026.
The rising demand for natural fragrances and growing inclination towards fragrant intensifiers and odorants, represent some of the factors driving the global aroma chemicals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in a shift from luxury products towards essential goods, thereby hampering the sales of various aroma chemicals-based end products.
Based on the type, the global aroma chemicals market can be segregated into natural, and synthetic chemicals. Among these, synthetic chemicals account for the majority of the global market share.
Based on the product, the global aroma chemicals market has been categorized into benzenoids, musk chemicals, terpenoids and others. Currently, terpenoids account for the largest market share.
Based on the application, the global aroma chemicals market can be bifurcated into soaps and detergents, cosmetics and toiletries, fine fragrances, and others. Among these, soaps and detergents exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global aroma chemicals market include Agilex Flavors & Fragrances, Aromatech, BASF, Bedoukian Research, Belmay, Cargill, China Flavors and Fragrances, Comax Flavors, etc.
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