Global Aroma Chemicals Market to Reach US$ 11.2 Billion by 2032, Stimulated by Expanding Fragrance Industry

August 23, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Aroma Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” the global aroma chemicals market size reached US$ 6.9 Billion in 2023. Aroma chemicals are synthetic or naturally derived substances used extensively in the fragrance and flavour industries to impart pleasant scents to various products. These chemicals are responsible for creating the distinctive and enticing aromas found in perfumes, colognes, cosmetics, toiletries, cleaning agents, and food and beverage products. Aroma chemicals are carefully crafted to replicate the aroma of natural substances, such as flowers, fruits, spices, and other botanical sources. They offer consistency and reproducibility, ensuring that fragrances maintain their desired profile across different batches and products. Additionally, these chemicals allow perfumers and flavorists greater control over the scent and flavour compositions, enabling them to create unique and captivating experiences for consumers.

Global Aroma Chemicals Market Trends:

The rising demand for scented products across various industries, including cosmetics, personal care, and homecare, is driving the global market. Additionally, the expansion of the global fragrance industry and the growing popularity of premium and luxury fragrances have also contributed to the market's growth. Aroma chemicals are essential ingredients in formulating these high-end perfumes and colognes, making them a crucial factor in the industry's success. Moreover, rapid urbanization and improving living standards in emerging economies have strengthened the consumption of aroma chemicals in these regions. As disposable incomes increase, consumers are more willing to invest in scented products, fueling market demand further. Furthermore, the trend towards natural and sustainable ingredients in fragrances has led to a rise in the use of naturally derived aroma chemicals, such as essential oils and plant extracts. This growing inclination towards eco-friendly products has provided new opportunities for manufacturers in the aroma chemicals market. Looking forward, the market value is projected to reach US$ 11.2 Billion by 2032, expanding at a CAGR of 5.3% during 2024-2032.

Market Summary:

  • Based on the type, the market has been segmented into natural and synthetic. Currently, the the synthetic type represents the largest market segment.
  • On the basis of the product, the market has been divided into benzenoids, musk chemicals, terpenoids, and others. Among these, the terpenoids exhibit a clear dominance in the market.
  • Based on the application, the market has been bifurcated into soaps and detergents, cosmetics and toiletries, fine fragrances, and others. Among these, soaps and detergents accounts for the largest market share.
  • Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Among these, Asia Pacific holds the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Agilex Flavors & Fragrances, Aromatech, BASF, Bedoukian Research, Belmay (Symrise AG), Cargill, China Flavors and Fragrances and Comax Flavors.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Type
  • Product
  • Application
  • Region
Types Covered Natural, Synthetic
Products Covered Benzenoids, Musk Chemicals, Terpenoids, Others
Applications Covered Soaps and Detergents, Cosmetics and Toiletries, Fine Fragrances, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Agilex Flavors & Fragrances, Aromatech, BASF, Bedoukian Research, Belmay (Symrise AG), Cargill, China Flavors and Fragrances, Comax Flavors, etc.
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)

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Global Aroma Chemicals Market to Reach US$ 11.2 Billion by 2032, Stimulated by Expanding Fragrance Industry
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