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The global aroma chemicals market reached a value of US$ 6.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2027, exhibiting a CAGR of 6% during 2022-2027. 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 are volatile chemical compounds made using synthetic or natural compounds, which are extracted from plants or animals. They act as essential raw materials in formulating a unique blend of flavors and perfumes. They are also utilized in the manufacturing of cosmetics, baked products, candies, and alcoholic and non-alcoholic beverages. They also find application in fast-moving consumer goods (FMCG), including cleaning and personal care products.
A significant rise in the demand for exotic fragrant intensifiers and odors supported by the growing global population and inflating income levels of individuals represents one of the key factors positively influencing the global aroma chemicals market share. In addition, the rising awareness among the masss about personal grooming and hygiene is increasing the adoption of cleaning, home, and personal care (HPC) products with appealing fragrances. Besides this, the burgeoning travel and tourism sector and the expansion of hotels, restaurants, cafes, and bars are catalyzing the need for toiletries with exotic fragrances. Apart from this, the growing inclination of consumers toward natural ingredients that are non-toxic, free from allergic reactions, and harmless to the skin is driving the demand for bio-based aroma chemicals worldwide. Furthermore, the rising usage of organic, natural, and soothing fragrances in aromatherapy as they influence the psychological and emotional well-being of individuals is propelling the market growth. Moreover, increasing investments by the leading players in research and development (R&D) activities to develop innovative products with smart pricing strategies are anticipated to strengthen the market growth.
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 2022-2027. Our report has categorized the market based on type, product and application.
Breakup by Type:
Synthetic aroma chemicals hold the largest market share as they are long lasting and enable perfumers to customize a variety of scents.
Breakup by Product:
Terpenoids account for the majority of the share due to its the medicinal and therapeutic properties.
Breakup by Application:
Soaps and detergents exhibit a clear dominance in the market due to the escalating demand for toiletries and personal care products formulated with aromatic chemicals.
Breakup by Region:
Asia Pacific holds the majority of the market share on account of the increasing population and the growing demand for personal care products in the region.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles 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 Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| 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$ 2499 Five User License: US$ 3499 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) |
We expect the global aroma chemicals market to exhibit a CAGR of 6% during 2022-2027.
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.
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