Increasing consumer spending on personal care products like luxury perfumes, deodorants, cosmetics, and air-fresheners is propelling industry growth.
Market Size – USD 5.16 billion in 2019, Market Growth - CAGR of 6.2%, Market Trends – Growing product usage in cosmetics and new product line-ups.
The Global Aroma Chemicals Market size was valued at USD 5.16 Billion in 2019 and is estimated to reach USD 8.41 billion, exhibiting a CAGR of 6.2% through 2027. The market growth is propelled by increasing consumer spending on products like perfumes, soaps, essential oils, body deodorants, food-scented chemicals, air-fresheners, and others.
Medical products and treatments using aroma ingredients are providing impetus to the aroma chemicals industry growth. Consumers are more inclined towards aromatherapy for stress relieving and augmenting mental health. Also, massive demand for fragranced personal care products is stimulating the synthetic aromas market. Futhermore, high R&D investments by the industry's leading players will foster aroma chemicals market size over the forecast period.
The COVID-19 impact:
The outbreak of coronavirus pandemic has led to unprecedented disruptions in the production and manufacturing industries due to affected supply chains and resource shortage. The pandemic had a serious impact on the majority of industries. This is prompting companies to develop innovative solutions at an affordable price to support the breakthrough required for sustainability in product demand and sales. The solution to various multi-layered uncertainties experienced by several industries and product manufacturers involved in the supply chain are covered in this research report.
Topics like perfume ingredients label, synthetic perfume ingredients, perfume chemical ingredients, and perfume ingredients by brand, and factors influencing the market growth are discussed in detail in the aroma chemicals market report.
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Further key findings from the report
suggest
- On the basis of chemical compounds, the Esters segment held 25.3% of the market share in 2019 and forecast to witness a substantial growth rate of 5.5% over the analysis period. Floral, fruity and sweet, and are the common type of fragrances sourced from esters.
- Based on type, the floral fragrances segment is likely to contribute significantly to the aroma chemicals revenue share at a CAGR of 6.1% through 2027. The robust growth can be attributed to the high usage of floral fragrances in perfumes, cologne scents, deodorants, soaps, fragrance powder, essential oils, and others. Lavender, Rose, and lilac are some of the most commonly used floral fragrances in personal care products.
- Based on Application, Medical usage is anticipated to achieve a higher market share by 2027 due to increasing consumer preference for aromatherapy to treat stress-related issues.
- In the regional landscape, North America is estimated to register a notable growth rate of 6.4% through 2027 due to high consumer spending on premium personal care products.
- The Asia Pacific aroma chemicals market is anticipated to gain major traction due to favorable business models of export & import as well as raw material & chemical products outsourcing in the region.
- Europe is likely to be the highest revenue generator for the aroma chemicals market share over the analysis period due to high R&D in the perfume & cosmetics industries across England, Germany, and France.
- Key players contributing to the global aroma chemicals market share are BASF SE, Privi Organics India Limited, International Flavors & Fragrances Inc., MANE, SymriseAG, Hindustan Mint & Agro Products Pvt. Ltd., Takasago International Corporation, PFW Aroma Chemicals, and Givaudan, Fairchem Speciality Ltd, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/global-aroma-chemicals-market-2017-forecast-to-2022
The global aroma chemicals market
report is segmented on the basis of type of fragrance, chemical compounds,
sales channel, applications, and region:
Type of Fragrance Outlook (Revenue: USD
Billion; 2017-2027)
·
Floral
·
Woody
·
Citrus
·
Fruity
·
Musky
·
Menthol
·
Spicy
·
Oceanic
·
Savory
·
Others
Chemical Compounds Outlook (Revenue:
USD Billion; 2017-2027)
·
Esters
·
Terpenes
·
Alcohols
·
Aldehydes
·
Ketones
·
Lactones
·
Aromatic
·
Others
Sales Channel Outlook (Revenue: USD
Billion; 2017-2027)
·
Online
Retails
·
Offline
Retails
Applications Outlook (Revenue: USD
Billion; 2017-2027)
·
Cosmetics
& Toiletries
·
Household
Products
·
Foods
& Drinks
·
Medical
Usage
·
Others
Regional Outlook (Revenue: USD Billion;
2017-2027)
·
North
America
o
U.S
o
Canada
·
Europe
o
Germany
o
U.K
o
France
o
BENELUX
o
Rest
of Europe
·
Asia
Pacific
o
China
o
India
o
Japan
o
Rest
of APAC
·
MEA
o
Saudi
Arabia
o
UAE
o
Rest
of MEA
·
Latin
America
o
Brazil
o
Rest
of LATAM
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