July 07, 2020
According to the research report titled ‘Global Aroma Chemicals Market – Analysis By Type (Natural, Synthetic), Product (Benezenoids, Musk Chemicals, Terpenoids, Others), Application, By Region, By Country (2020 Edition): Opportunities and Forecast (2020-2025)’, available with Market Study Report LLC, global aroma chemicals market was worth USD 5315.26 million in 2019 and is expected to record significant growth through 2025.
Increasing awareness pertaining to personal hygiene and easy availability of various skin care products as well as toiletries are major factors driving the growth of aroma chemicals market. Wide variety of deodorants and perfumes, growing population and escalating disposable income in developing nations such as China and India have impelled the demand for aroma chemicals, which in turn stimulating the industry outlook.
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As per type, global aroma chemicals market is divided into synthetic and natural. The report states that natural aroma chemicals market segment is slated to acquire appreciable revenues in the ensuing years. The ingredients of natural aroma chemicals are acquired from plants instead of petrochemicals, which in turn is contributing towards popularity of the product across the globe.
Based on product landscape, the market is split int terpenoids, musk chemicals, benezenoids and others. The report projects that terpenoids segment to expand substantially during the forecast period. The product possesses strong odor and is widely adopted in various applications including essential oils, fragrance ingredient in food & beverages, perfumery, and alternative medications such as aromatherapy.
The application scope of aroma chemicals market includes cosmetics, personal & household care, food & beverage and others. The food & beverage segment accounted for a considerable market share in 2019 and is reckoned to witness rapid expansion in the forthcoming years.
Considering the geographical landscape, worldwide aroma chemicals market is split into regions namely, North America, Europe and Asia-Pacific with key focus on regions like South Korea, Japan, China, India, U.K., Spain, France, Germany, Canada and U.S. among others.
The report cites that North America aroma chemicals market is anticipated to showcase high CAGR through 2025, with U.S. and Canada being the major revenue generators. Improving economic conditions and increasing production capacities are complementing the business outlook in the region.
PFW Aroma Chemicals B.V., Robertet Group, Sensient Technologies Corporation, Veera Fragrances Private Limited, YingYang (China) Aroma Chemical Group, Firmenich SA, Symrise AG, Givaudan, S.H. Kelkar & Co. Pvt. Ltd. and International Flavors & Fragrances among others.