Backed by Demand from Fine Fragrance Industry, Asia Pacific to Produce 1.8X More Aroma Chemical then Europe and US

Personal Care and Cosmetic Industry Positioned Well to Create Access Demand for Aroma Chemicals through 2031

Fact.MR's latest research study conducted on the aroma chemicals market propounds critical trends influencing growth of the market along with several macro-economic indicators. The study explicates on vital dynamics, such as the opportunities, drivers, and restraints affecting the demand outlook for aroma chemicals market in terms of source, chemical type and application

NEW YORK, Sept. 17, 2021 /PRNewswire/ -- As per in-depth analysis by Fact.MR, the global aroma chemicals market is anticipated to exhibit steady growth during the forecast year from 2021 to 2031. Increasing application of aroma chemicals across fragrance, cosmetics, and food & beverage industry is estimated to drive the growth of aroma chemicals market.

In recent years, a rapid shift in consumer preference from using synthetic aroma chemicals to natural ones is witnessed, due to its healing attributes such as energy enhancing, mood lifting, calming, and relaxing. On account to this, leading players are initiating new product launches, capacity expansions, and strategic alliances to meet the increasing demand for natural aroma chemicals.

For instance, in September 2019, BASF, the German multinational chemical company, announced acquiring Isobionics, a leading biotechnology firm focus aroma chemicals, and entering into a partnership with Conagen, a leading biotechnology research firm. The strategy will assist the company to broaden its natural flavors and fragrance ingredients portfolio. These developments in the landscape is expected to propel the demand for natural aroma chemicals.

Aroma chemicals are extensively used in personal care and cosmetic products, such as facemasks, creams, body lotions, aftershaves, soaps, and shampoos others. Thus, the increase in per capita disposable income and rise in standard of living of the population is augmenting the demand for aforementioned products, in turn, spurring the sales of aroma chemicals.

 "Growing trend of aromatherapy for maintaining psychological and emotional wellbeing and increasing adoption of naturally sourced aroma chemical in food and cosmetics products are estimated to facilitate the market growth in the coming years," says a Fact.MR analyst.

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Key Takeaways from Aroma Chemicals Market Survey

• Europe is estimated to remain one of the most lucrative aroma chemical market, favored by the high presence of leading manufacturing companies in the U.K. and Germany.
• The U.S. is expected to lead the market in North America, owing to rising demand for food & beverages, cosmetics, personal care products in the country.
• Driven by the increasing number of soap, detergents, and home care manufacturing companies in India, the country is anticipated to project a robust growth in the assessment period.
• The China is predicted to account for a significant share in the Asia Pacific market, supported by rapidly expanding fine fragrance sector in the country.
• Based on chemical type, benzenoids are projected to contribute maximum sales in the segment, due to its ability to mix with other aroma chemicals and ease of availability.

Key Drivers

• Surging demand from the personal care and food & beverages sectors across countries like the U.S. and China is spurring the sales of aroma chemical.
• Growing awareness regarding the health benefits associated with the natural aroma chemicals such as energy enhancing and mood lifting is expected to drive the market growth.
• Increasing adoption of organic food products with zero or minimum additives is fueling the demand for natural aroma chemicals.

Key Restraints

• High cost to fragrance produce using natural aroma chemicals and shortfall in availability of raw materials are the factor hampering the demand for natural aroma chemicals.
• Increasing ailments such as allergies, cancer, asthma, and birth defects associated with the use of petroleum-based aroma chemicals is restraining the growth of the market.

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Competitive Landscape

Leading companies in the landscape are focusing on development of novel products, expansion, and investments to expand its products portfolio. Some of the players are adopting expansion strategies such as acquisition, collaboration, merger, and partnership with other players to increasing the market revenue share. For instance,

• In July 2021, P2 Science, Inc., an innovative green chemistry company, announced launching new herbal aroma chemical named, Herbenone. The product is made using natural herbs and flowers such as fresh basil, anise, and jasmine and can be used all types of cosmetics and personal care products.
• In May 2021, Azelis, a leading global innovation service provider for the specialty chemicals and food ingredients industry, announced acquiring, an American specialty manufacturers and supplier of ingredients for fragrances, flavor, and cosmetics. The acquisition will assist the company to strengthen its footprint in America flavor and fragrance market.

Some of the key players in the market profiled by Fact.MR are:

• Bell Flavors & Fragrances Inc.
• Takasago International Corporation
• Yingyang flavors & fragrances group
• Fairchem Specialty Limited
• Zhejiang Newfine Industry Co. Ltd.
• Wild Flavors and Specialty Ingredients Inc.
• Sensient Technologies Corporation
• Hindustan Mint & Agro Products Pvt. Ltd.
• Ungerer & Company, Robertet SA
• Givaudan SA
• Firmenich SA
• Bedoukian Research Inc.
• Aroma Tech Inc.
• Kao Corporation
• Hasegawa Co. Ltd.
• Tadimety Aromatics Pvt. Ltd.
• Oriental Aromatics Limited,
• Dongying Kehong Chemical Co. Ltd.

More Valuable Insights on Aroma Chemicals Market

Fact.MR, in its new report, offers an unbiased analysis of the global aroma chemicals market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in aroma chemicals market with detailed segmentation:

By Source

• Natural
• Synthetic

By Chemical Type

• Benzenoids
• Terpenoids
• Musk Chemicals
• Other

By Application

• Food & Beverage
• Fine Fragrances
• Cosmetics & Personal Care
• Soaps & Detergents
• Household
• Others

Key Questions Covered in the Aroma Chemicals Market Report 

• The market survey also highlights projected sales growth of the aroma chemicals market between 2021 and 2031
• The report offers insight into aroma chemicals demand outlook for 2021-2031
• Aroma chemicals market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Aroma chemicals market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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