A recent study by Fact.MR suggests that, rising demand for aroma chemicals in the fragrance and food & beverage industry is expected to increase the growth of the aroma chemicals market. Aroma chemicals are molecules that increase flavour and fragrance when added to products. They consist of natural compounds that are extracted from plants and animals, and synthetic compounds that are created in laboratories using oils and fats. Stringent regulations regarding artificial flavours have contributed to the growth of natural aroma chemicals in the food industry.
Aroma chemicals are key ingredients in various products such as baked items, perfumes, candies, alcoholic and non-alcoholic beverages, toiletries, and cleaning products. They are used to enhance taste in canned foods too. Growing demand for luxury and healthcare has increased demand for aroma chemicals in the market.
Key Takeaways from Aroma Chemicals Market Report
- The aroma chemicals market is projected to grow at a steady CAGR due to rising application in the healthcare sector.
- Due to the ongoing COVID-19 pandemic, caution regarding hygiene and sanitation has risen, increasing the use of aroma chemicals in sanitary products.
- Asia Pacific is expected to dominate the global aroma chemicals market due to increasing demand in household products and rising favorability for processed foods.
- Synthetic aroma chemicals showcase more demand due to easy accessibility and cost efficiency.
“The COVID-19 pandemic will have a mixed impact on the growth of the aroma chemicals market. Post pandemic, the market will get back to its original growth trajectory,”says a Fact.MR analyst.
Research & Development Efforts to Boost Growth
Regulations and ban on chemicals that trigger allergies and other side effects have impacted the aroma chemicals market. This has led players to increase innovation and developments in the application of aroma chemicals. Growing concerns regarding environmental issues have increased demand for natural aroma chemicals.
Increase in disposable income and people’s favorability for luxurious and aromatic self-care products have propelled demand. Players are introducing new varieties of aroma chemicals that offer unique fragrance and boost flavour. They are now creating perfumes and fragrances that can be personalized and custom-made for users.
Some of the key players in the aroma chemicals market 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.
Valuable Insights into Aroma Chemicals Market
Fact.MR has compiled a report on the aroma chemicals market, and presented an assessment for the years 2020-2030. In order to provide detailed analysis, the market has been divided into several segments on the basis of application into cosmetics & toiletries, food & beverages, essential oils, perfumes, soap & detergents and others. Rising use of aroma chemicals in cosmetics and toiletries, as well as in the perfume industry is expected to drive market growth.
Based on chemical type, the market is segmented into benzenoids, musk chemicals, terpenoids & terpenes (cyclic and acyclic), and other chemical types. Benzenoids are projected to dominate the segment due to their accessibility and ability to easily mix with other aroma chemicals. Musk chemicals are expected to sought-after significantly due to their natural extraction properties and increasing use in toiletries.
Key Questions Answered in Fact.MR’s Aroma Chemicals Market Report
- Which regions will continue to remain the most profitable regional markets for aroma chemicals market players?
- Which factors will induce a change in the demand for aroma chemicals during the assessment period?
- How will changing trends impact the aroma chemicals market?
- How can market players capture the low-hanging opportunities in the aroma chemicals market in developed regions?
- Which companies are leading the aroma chemicals market?
- What are the winning strategies of stakeholders in the aroma chemicals market to upscale their position in this landscape?
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