The new report by Expert Market Research titled, ‘Global Aroma Chemicals Market Share, Size, Growth, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aroma chemicals market, assessing the market based on its segments like aroma type, chemicals, application, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 5.2%
The market for aroma chemicals has seen substantial growth due to factors such as increasing demand for natural flavours and fragrances. The industry is further supported by the growing personal care and cosmetics sector.
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Also, increased knowledge across different industries offers an enormous market opportunity for key players in the aroma chemicals market. With and customer perception of hygiene, demand for items such as fine fragrances, room fresheners, and toiletries is on the rise, boosting the global growth of the aroma chemicals industry.
Additionally, the emerging trend of aromatherapy, as well as the major players’ increasing investment in R&D, will provide additional impetus to the industry’s growth. The industry is expected to expand even further, thanks to increasing disposable ines and a growing customer preference for natural goods.
The industry is being boosted by rising manufacturing standards and the introduction of strict regulations by various government authorities around the world that favour the use of green fragrances. With consumers’ preference for cleanly labelled goods growing, manufacturers are concentrating their efforts on having their products certified by fair trade labelling organisations. Technological advances and new product launches are expected to help the global aroma chemicals market’s growth over the forecast period.
Aroma Chemicals Industry Definition and Major Segments
Aroma chemicals, also known as odorants, are a class of molecules that are used to add flavour and fragrance to a variety of products. They are made from synthetic, natural, and nature-identical materials. Manufacturers use this chemical to add flavour to baked goods, candies, beverages, and other items, as well as fragrance to cosmetics, toiletries, and cleaning products.
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Based on the aroma type, the industry is divided into:
Based on the chemicals, the industry is divided into:
- Musk Chemicals
Based on the application, the industry is divided into:
- Soaps and Detergents
- Cosmetics and Toiletries
- Fine Fragrances
The regional markets for aroma chemicals include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Aroma Chemicals Market Trends
Geographically, because of the increased consumer health awareness and demand for organic and natural products in the region, Europe is one of the leading markets in the industry. Strict regulations governing the use of synthetic chemicals, as well as incentives for manufacturers to use green fragrances, are helping the region’s industry.
Furthermore, in developed countries such as the United States, increased legislation and improved industrial standards aimed at preventing the use of any potentially hazardous chemicals in the cosmetics sector are expected to provide the industry with a variety of growth opportunities. Over the forecast era, the industry’s growth is expected to be aided by the increasing popularity of green or natural aroma chemicals over synthetic ones.
The growing demand for organic products is causing manufacturers to produce products made from high-quality ingredients that are free of synthetic additives, which is propelling the growth of this segment and, as a result, the overall industry.
Key Market Players
The major players in the market are ordas-SA, Emerald Kalama Chemical, Kao Chemicals Europe. S.L., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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