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Aroma Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Type (Terpenes, Benzenoids, Musk Chemicals, and Other Types), Application (Soap and Detergents, Cosmetics and Toiletries, Fine Fragrances, Household Products, Food and Beverage, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

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Market Snapshot

Aroma Chemicals Market Overiew
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: >5 %
Aroma Chemicals Market Key Players

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Market Overview

The aroma chemicals market is expected to register a CAGR of over 5% during the forecast period. The major factors driving the market studied include the blooming use in the fragrance industry.

  • High cost for R&D is expected to significantly hinder the growth of the market studied.
  • Europe is expected to dominate the global market during the forecast period.
  • Advancements in technology is likely to act as an opportunity in the future.

Scope of the Report

The aroma chemicals market includes:  

Type
Terpenes
Benzenoids
Musk Chemicals
Other Types
Application
Soap and Detergents
Cosmetics and Toiletries
Fine Fragrances
Household Products
Food and Beverage
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Growing Demand from Fine Fragrances Application

  • Aroma chemicals are an important group of organic molecules used as ingredients in flavors and fragrances.
  • Formulations of fragrance from aroma chemicals are used globally, for imparting attractive aroma and pleasing scents to perfumes, toiletries, and detergents.
  • The growth of the fragrance industry is primarily driven by the increase in demand for natural fragrances from developing nations and significant technological advancements to meet the changing consumer demands.
  • Additionally, the increasing demand for customizable and niche fragrances is driving the consumption of aroma chemicals, since consumers are looking for personalized fragrance experiences and exotic scents.
  • Further, the rising importance of organic and natural fragrances in aromatherapy, which influences the emotional and psychological wellbeing, is expected to drive the demand for the market studied.
Aroma Chemicals Market Key Trends

China to Dominate the Asia-Pacific Market

  • China is the world’s second-largest economy in terms of growth and the increasing level of income of the country’s population is further driving the economy. Though the economy witnessed a steady growth in the past years, it is likely to recover and expand at a significant rate.
  • In China, the largest fragrance markets are predictably located in the most developed cities, such as Beijing and Shanghai.
  • The demand for fragrance in soaps and detergents was one of the market drivers, and this segment is estimated to continue to grow during the forecast period, primarily due to the increasing household applications.
  • China has the largest personal care market in Asia-Pacific, which is estimated to grow around 7-10% annually, throughout the forecast period.
  • Furthermore, countries, such as India and Japan have also been contributing to the growth of the market studied. This is expected to further drive the demand for the aroma chemicals market over the forecast period.
Aroma Chemicals Market Growth by Region

Competitive Landscape

The aroma chemicals market is fragmented in nature. Some of the major players of the market studied include Takasago International Corporation, Solvay, Kao Corporation, HINDUSTAN MINT & AGRO PRODUCTS PVT. LTD., and BASF SE, among others.

Aromatech, BASF SE, Fairchem Speciality Ltd, HINDUSTAN MINT & AGRO PRODUCTS PVT. LTD., Kalpsutra Chemicals Pvt. Ltd, Kao Corporation, PFW Aroma Chemicals

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Blooming Use in Fragrance Industry

      2. 4.1.2 Increasing Demand from Asia-Pacific and South America

    2. 4.2 Restraints

      1. 4.2.1 High R&D Costs

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Terpenes

      2. 5.1.2 Benzenoids

      3. 5.1.3 Musk Chemicals

      4. 5.1.4 Other Types

    2. 5.2 Application

      1. 5.2.1 Soap and Detergents

      2. 5.2.2 Cosmetics and Toiletries

      3. 5.2.3 Fine Fragrances

      4. 5.2.4 Household Products

      5. 5.2.5 Food and Beverage

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Aromatech

      2. 6.4.2 BASF SE

      3. 6.4.3 Fairchem Speciality Ltd

      4. 6.4.4 HINDUSTAN MINT & AGRO PRODUCTS PVT. LTD.

      5. 6.4.5 Kalpsutra Chemicals Pvt. Ltd

      6. 6.4.6 Kao Corporation

      7. 6.4.7 PFW Aroma Chemicals (Kelkar Group)

      8. 6.4.8 Robertet

      9. 6.4.9 S H Kelkar And Company

      10. 6.4.10 Sensient Technologies

      11. 6.4.11 Silverline Chemicals

      12. 6.4.12 Solvay

      13. 6.4.13 SymriseAG

      14. 6.4.14 Takasago International Corporation

      15. 6.4.15 Treatt Plc

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Advancements in Technology

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Aroma Chemicals Market market is studied from 2016 - 2026.

The Aroma Chemicals Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

Takasago International Corporation, Solvay, Kao Corporation, BASF SE, HINDUSTAN MINT & AGRO PRODUCTS PVT. LTD. are the major companies operating in Aroma Chemicals Market.

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