Westford USA, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The global Aroma Chemicals market size is expected to reach USD 8.19 billion by 2030 and exhibit a CAGR of 5.4% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing consumer preference for natural and organic fragrances, increasing demand from the food and beverage industry for flavor enhancements, rising demand for personal care and cosmetic products, and expanding applications in the pharmaceutical and healthcare sectors are fueling the market's growth.
According to SkyQuest's latest global research of the Aroma Chemicals market, increasing demand for clean-label and sustainable aroma chemicals, the growing popularity of natural and plant-based aroma chemicals, rising interest in unique and exotic fragrances, expanding applications in homecare and household products, adoption of aroma chemicals in industrial and cleaning products, are the trends that aid in the market's growth.
Browse in-depth TOC on "Aroma Chemicals Market"
- Pages - 242
- Tables - 61
- Figures -75
Aroma chemicals are organic compounds that have a pleasant odor. They are used in a variety of applications, including perfumes, cosmetics, food, and beverages. Aroma chemicals can be either natural or synthetic. Natural aroma chemicals are derived from plants, animals, or other natural sources. Synthetic aroma chemicals are created in a laboratory.
Prominent Players in Aroma Chemicals Market
- BASF
- Firmenich
- IFF
- Symrise
- Takasago International
- Sensient Technologies
- Mane
- Givaudan
- Robertet
- Xiamen Huize Biotechnology
- Ningbo Jinnan
- Penta Manufacturing
- Sensient Cosmetic Ingredients
- Hangzhou Dayang Technology
- Hangzhou Sage Chemical
- Jiangxi Sanxin Industrial
- Anhui Jinding
- Vigon International
- Treatt
- Frutarom
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 5.38 Billion |
| 2030 Value Projection | 8.19 Billion |
| CAGR | 5.38% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Synthetic Aroma Chemicals Demand to Grow Substantially in the Forecast Period
Synthetic aroma chemicals dominate the global online market as they have wide availability, consistent quality, and cost-effectiveness. Synthetic aroma chemicals are created through chemical synthesis, allowing for a diverse range of fragrance profiles, making them popular choices for various applications in the fragrance and flavour industries.
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Fine Fragrances are the Leading Application Segment
In terms of application, Fine fragrances are the leading segment and are a key component of personal care and luxury products, including perfumes, colognes, and high-end cosmetics. As disposable incomes rise and consumer preferences shift towards premium products, there is an increasing demand for fine fragrances, which, in turn, drives the demand for aroma chemicals used in these products.
Asia Pacific is the leading Market Due to the Largest Consumers Base
Region-wise, Asia Pacific is one of the largest growing markets due to the largest consumers. The region has a significant presence in the fragrance and flavor industry, driven by factors such as a large population, rising disposable incomes, a growing middle-class consumer base, and a thriving personal care and cosmetics sector. The region's demand for aroma chemicals is also supported by the expanding food and beverage industry and the increasing consumption of processed and packaged foods.
A recent report thoroughly analyzes the major players operating within the Aroma Chemicals market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Aroma Chemicals.
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Key Developments in Aroma Chemicals Market
- In January 2023, Vigon International acquired Treatt, a UK-based flavour and fragrance company. This acquisition gave Vigon a stronger position in the European market for flavor and fragrance ingredients.
Key Questions Answered in Aroma Chemicals Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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