New York, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Increasing demand for natural aroma ingredients coupled with high investment in R&D of aroma ingredients are fueling the market growth.
The global aroma ingredients market is forecast to reach USD 3.60 Billion by 2026, according to a new report by Reports and Data. The market is rising rapidly as the demand for odorants, and fragrant intensifiers are growing considerably in the global market. Perfumes, body deodorants, air-fresheners, soaps, food-scented ingredients are some of the highly consumed end-use products which add to the aroma ingredients market value appreciably.
The high consumers’ preferences for the natural ingredients have also been helping in the aroma ingredients market growth notably due to non-toxic, harmless and safe usage in its applications. Chemical compounds such as Esters, and Terpenes have the most number of applications and hence have the highest demand from the end-users. The European region is forecasted to sustain its domination in the market with the highest revenue of USD 1.12 Billion in the year 2026, owing to its century-old formulations and R&D in the perfume & cosmetics industries from pioneer countries of this market such as France, England, and Germany.
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Further key findings from the report suggest
- Cosmetics & toiletries had the highest market share of 37.8% in 2018 and will be growing at a CAGR of 5.8% during the forecast period. Cosmetics & toiletries segment includes perfumes, shaving products, soaps, shampoos, lotions, creams, toothpaste, and other odorized personal care and baby care products and also the toilet accessories.
- Medical usage consists of healthcare & medicated products and the treatment done with the aroma ingredients. Aromatherapy reduces mental and physical stress and also diminishes several mental ailments as well as severe headache. Aromatic products arouse sexual appealing by stimulating the hormonal secretions. The segment will achieve a market revenue of USD 0.40 Billion by 2026.
- Floral fragrances owing to its maximum end usages, possesses the highest market share of 16.3% in 2018 and would grow fastest at a rate of 6.1% during the forecast period. These fragrances are used in the perfumes, deodorants, cologne scents, fragrance powder, and soaps, among others. Rose, lilac, and lavender are some of the most used floral fragrances.
- Esters include some acetates, butyrate, propionate and some other organic compounds. Mostly, floral, sweet, and fruity are the type of fragrances which are derived from this chemical compound and has got the highest market share of about 25.3% in 2018. The CAGR for this segment is calculated to be 5.5% throughout the forecast period.
- Natural ingredients are extracted from the fruits, flowers, herbs, shrubs, and also from the animal body parts, goes through certain synthetic processing in order to function as an active aroma ingredient. As these ingredients are completely harmless and safe to be used in sensitive applications, the demand for the same has been rising in recent days. The natural ingredients segment will grow with a CAGR of 4.6% from 2019 to 2026.
- Key participants include International Flavors & Fragrances Inc., Symrise AG, Takasago International Corporation, Mane SA, Robertet Group, Sensient Technologies Corporation, T. Hasegawa Co., Ltd., Frutarom Industries Ltd., Givaudan and Bell Flavors & Fragrances.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global aroma ingredients market on the basis of the type of fragrances, chemical compounds, type, applications, and region:
Type of Fragrances Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Floral
- Woody
- Citrus
- Fruity
- Musky
- Menthol
- Spicy
- Oceanic
- Savory
- Others
Chemical Compounds Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Esters
- Terpenes
- Alcohols
- Aldehydes
- Ketones
- Lactones
- Aromatic
- Others
Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Natural Ingredients
- Synthetic Ingredients
Applications Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Cosmetics & Toiletries
- Interior Usage Products
- Foods & Drinks
- Medical Usage
- Others
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Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East and Africa
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