Aroma chemicals are an essential group of organic molecules used as ingredients in flavor and fragrance compositions. It imparts a pleasing scent to consumer goods such as perfumes, toiletries, cosmetics, detergents and household cleaners. Aroma chemicals consist of natural and artificial molecules. There are 3,500 different molecules used to make fragrance and flavor compositions. Synthetic ingredients play a major role as a component due to their existing availability and relatively lower cost as compared with natural molecules.
The worldwide market for aroma chemicals is expected to grow at moderate rate owing to favorable economic conditions and increase in disposable incomes along with enhanced end user awareness of personal grooming and hygiene. Furthermore, demand from companies that manufacture food, soaps and detergents, cosmetics, toiletries, and household products may boost the market growth in upcoming years. Additionally, rise in demand from the developing countries coupled with significant technological advancements has helped in the fragrance ingredients market. Consolidation of aroma chemical manufacturers is a key trend contributing to the growth of this market. However, factors such as expensive R&D programs and the need for compliance with regulatory standards may curtail the market growth.
The report covers forecast and analysis for the aroma chemicals market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on revenue (USD Million). The study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period. Additionally, the report includes study of opportunities available in the aroma chemical market on a global level.
Global aroma chemicals market has been segmented on the basis of type and region. On the basis of type, aroma chemical market is classified into natural aroma chemicals and synthetic aroma chemicals. Geographically, aroma chemical market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific region is estimated to emerge as the fastest growing region due to huge domestic consumption of aroma chemicals in India. Furthermore, rapid urbanization and growing disposable income have increased the demand for cosmetics and processed foods in the region which may further boost the demand for market. The market for aroma chemicals in Latin America is anticipated to grow significantly owing to increasing economic scenario in the countries such as Brazil. Growing income levels in the region is expected to impel the demand for cosmetics, food, and personal care products which may fuel the market.
Key players in the global aroma chemicals market are Hindustan Mint and Agro Products Pvt. Ltd., Kalpsutra Chemicals Pvt. Ltd., Takasago International Corp., Veera Fragrances Pvt. Ltd, Silverline Chemicals Ltd, J. K. Fragrances, and Agilex Flavors & Fragrances among others.
This report segments the aroma chemicals market as follows:
Aroma Chemicals Market: Type Segment Analysis
- Natural aroma chemicals
- Synthetic aroma chemicals
Aroma Chemicals Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa