Aroma Chemicals Market revenue to surpass USD 9 Billion by 2033
According to the analysts at Zion Market Research, The global aroma chemicals market size is projected to expand at ~5% CAGR between 2023 and 2033. The market is expected to garner a revenue of USD 9 billion by the end of 2033, up from a revenue of ~USD 6 billion in the year 2022.
Few of the well-known industry leaders in the aroma chemicals market that are profiled by
- Symrise AG
- Givaudan
- Firmenich S.A.
- International Flavors & Fragrances Inc.
- BASF SE
- Takasago International Corporation
- Eternis Fine Chemicals Ltd.
- and Kao Corporation
- Tadimety Aromatics Pvt. Ltd.
- Tennants Fine Chemicals Ltd.
- QINGDAO COSO INTERNATIONAL TRADING CO.
- Hindustan Mint & Agro Pvt. Ltd
- Privi Organics India Limited
- Solvay
- MANE
- Yingyang (China) Flavors & Fragrance Group
- Cedarome
- Nimble Technologies Pvt Ltd.
- Oriental Aromatics Limited
- Anthea Aromatics
- Robertet SA
- Sensient Flavors & Fragrances Group
- Dongying Kehong Chemical Co.
Increasing Demand For F&B Product To Boost The Global Aroma Chemicals Market Growth
The growth of the global aroma chemicals market is driven by several factors such as altering customer preference, increasing disposable income, the rising demand for home & personal care along with food & beverage products, and growing rural penetration. The rise in the stipulation for natural aroma chemicals along with improvements in technology and rising applications are expected to bring up new avenues for the market players further boosting its growth. Customers are more keen to experiment and shifting to using premium products. The expansion in the end-user industry has resulted in a noteworthy spur in the global aroma chemicals market.
Global Aroma Chemicals Market Likely To Be Ruled By Benzenoids Aroma Chemicals
In 2018, the benzenoids product segment ruled the global aroma chemicals market as a result of their exceptional properties to reproduce the natural aroma and better mixing properties with other chemicals. Another factor propelling the expansion of this segment is the ease of availability. Nevertheless, the terpenoids segment is anticipated to grow at a substantial rate in the years to come. Terpenoids can be obtained from natural sources like flowers and plants. Thereby, an increase in the need for natural products is projected to drive the terpenoids segment in the near future.
Asia Pacific To Be Witness Considerable Growth During The Forecast Period
In 2018, Asia Pacific, in terms of volume, grabbed a considerable share in the global aroma chemicals market. The market expansion in this region can be attributed key to the rising need for personal care products, like toiletries, household care products, mainly dishwashing & laundry detergents, and fine fragrances, among customers in the region. Further, noteworthy rise in the need for high-value perfumes & modern skincare products, an increase in customers’ disposable income, and a rise in publicity to global markets via e-commerce has spurred the need for personal care products in this region. This is likely to help the aroma chemicals market grow considerably in the region.
The global aroma chemicals market is segmented as follows:
By Source
- Synthetic
- Natural
By Product
- Terpenoids
- Benzenoids
- Musk Chemicals
- Others (including Aldehydes and Ketones)
By Application
- Personal CareFine FragrancesCosmetics & Toiletries
- Household CareLaundryDishwashingOthers (including Candles and Incense Sticks)
- Musk Chemicals
- Others (including Food & Beverages and Medical)
By Region
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
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