Aroma Chemicals Market Report

Market Insights

Aroma Chemicals Market is likely to witness an impressive CAGR of 5.4% during the forecast period. The prime factor contributing to the robust demand for aroma chemicals is the food and beverage as well as the fragrance industries. Further, increasing demand for health and wellness foods, regulations, and a ban on the use of synthetic flavors are triggering the growth of natural aroma chemicals.

Segment Analysis

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Aroma Chemicals Market Share: By Product Type

Based on the product type, the aroma chemicals market is segmented as terpenes, benzenoids, musk chemicals, and others. The musk chemicals segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. Robust demand for chemicals in various applications such as in soaps and detergents production to incorporate strong and sweet musk odor is expected to augment the market growth over the forecast period.

Aroma Chemicals Market Share: By Application Type

Based on the application type, the aroma chemicals market is segmented as soap and detergents, cosmetics and toiletries, fine fragrances, household products, food and beverage, and others. The food and beverage segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. The growth of this segment is attributed to the huge food demand across the globe owing to awareness towards healthy diet and growing popularity of easy-to-consume food products. Aroma chemicals are also majorly used in cosmetics and toiletries including aftershave, gels, lipstick, foundation, moisturizer, nail polish, shampoo, body wash, hand wash, mascara, sunscreen and toner.

Aroma Chemicals Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for aroma chemicals during the forecast period, followed by North America and Europe, with developing economies such as China, India, and Japan being the major countries with lucrative growth opportunities. Initiatives including “Made in China 2025” and “Make in India” aiming to boost inland production and tax incentives for manufacturers’ establishment in the region will propel industry growth.

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Market Scope & Segmentation

Aroma compounds, also known as fragrances and odorants, are used to replicate a desired composition resembling natural fragrances. Aroma chemicals are produced using natural fats and oils as raw materials, and they are specifically used in a wide variety of lifestyle products.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The aroma chemicals market is segmented into the following categories. 

Aroma Chemicals Market Size, Share, & Forecast, by Product Type:

• Terpenes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Benzenoids (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Musk Chemicals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aroma Chemicals Market Size, Share, & Forecast, by Application Type:

• Soap and Detergents (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Cosmetics and Toiletries (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fine Fragrances (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Household Products (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Food and Beverage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aroma Chemicals Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the major companies into this market are-

• BASF SE
• Fairchem Speciality Ltd
• International Flavors & Fragrances Inc.
• Hindustan Mint & Agro Products Pvt. ltd.
• Kao Corporation
• PFW Aroma Chemicals (Kelkar Group)
• Privi Organics India Limited
• MANE
• Robertet
• S H Kelkar And Company
• SymriseAG
• Solvay and Takasago International Corporation.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.