Global Aroma Ingredients Market Is Set For A Rapid Growth And Is Expected To Reach Around USD 3.05 Billion By 2024

31-Oct-2018 | Zion Market Research

Zion Market Research has published a new report titled “Aroma Ingredients Market by Type (Synthetic Ingredients and Natural Ingredients) and by Application (Fine Fragrances, Toiletries, and Cosmetics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017-2024’’. According to the report, the global aroma ingredients market was valued at around USD 2.24 billion in 2017 and is expected to reach approximately USD 3.05 billion by 2024, growing at a CAGR of slightly above 4.5% between 2018 and 2024.

Chemicals majorly derived from petroleum or other natural raw materials are used in various products, such as cosmetics, detergents, and soaps, among others, to give them the required fragrance. These fragrance ingredients are also used as stabilizers and antioxidants in many industries. Their increasing use in the spa industry for aromatherapy has gained momentum in the past five years, due to improved lifestyle choices and an increase in the disposable income of people.

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Global Aroma Ingredients Market

Cosmetics products usually consist of decomposable constituents that might deteriorate due to the presence of the microbes, which, in turn, causes odor. Aromatic ingredients helping to overcome the odor problem in beauty products. Various technical advancements are being done in the extraction process of aroma ingredients along with other development techniques to boost this market growth. Rising disposable income and better access to quality brands of consumers, due to an effective supply chain, are driving this market growth. The Asia Pacific region is estimated to have the highest market share, due to the huge demand from the end-users of aroma ingredients. 

The major restraining factor pertaining to the global aroma ingredients market is their high production and R&D costs. However, the high growth potential of emerging economies, such as India and China, is likely to provide many opportunities for the key players operating in the global aroma ingredients market.

The global aroma ingredients market is segmented based on type and application. The cosmetics segment is likely to be the most dominant in the global aroma ingredients market in the upcoming years. Increase in the use of cosmetics by people of all age groups is anticipated to drive the demand for aroma ingredients in the forecast timeframe.

On a regional basis, the global aroma ingredients market is segmented into Europe, Asia Pacific, North America, Latin-America, and the Middle East and Africa. The Asia Pacific region contributed a significant share toward the aroma ingredients market in terms of volume during 2017. This is due to the huge developments made in the cosmetic industry in this region. The North American aroma ingredients market is also likely to witness noteworthy growth in the near future.

Some major players operating in the global aroma ingredients market areGivaudan, Firmenich SA, International Flavors & Fragrances Inc. (IFF), Symrise, Bell Flavors & Fragrances, Ogawa & Co., Ltd., Huabao, Solvay, Kao Corporation, and Robertet SA, among others.

This report segments the global aroma ingredients market as follows:

Global Aroma Ingredients Market: Type Analysis

  • Synthetic Ingredients
  • Natural Ingredients

Global Aroma Ingredients Market: Application Analysis

  • Fine Fragrances
  • Toiletries
  • Cosmetics 

Global Aroma Ingredients Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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