Aroma Chemicals Market

Aroma Chemicals Market by Types (Natural and Synthetic), Applications (Food & Beverage, Fine Fragrances, Cosmetics & Toiletries, Soaps & Detergents, and Households), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.

  • Report ID: MC-1000
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 2
  • No. Of Pages: 170
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The aroma chemicals market size was valued at USD 5.5 billion in 2019 and is projected to grow at a CAGR of 5.8% during the forecast period. Growth of the market is attributed to rising usage from food & beverage and fragrance industry.

Aroma Chemicals Market Key Takeaways

Aroma compounds, commonly known as perfumes and odorants, are used to create a composition that mimics natural odors. Natural fats and oils are utilized as raw materials to make aroma compounds. Aroma chemicals are utilized in goods like perfumes, toiletries, and cleaning solutions. Aroma chemicals are used to enhance the flavor of processed foods and beverages since smell impacts the taste of edible goods. To achieve a competitive advantage in the market, aroma chemical companies are working on developing natural equivalents of synthetic flavoring compounds. Aroma chemicals have become essential ingredients in health, personal care, and food and beverage goods, making this a fairly stable sector with end products that are resistant to commodity cycles and recession. In 2019, synthetic aroma chemicals market accounted for 73.9% of total revenue, and is expected to continue over the projected period.

The Covid-19 pandemic affected the demand and supply of aroma chemicals market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising demand for fine fragrances is estimated to drive the market.
  • Increasing demand for aromas from food and beverages industries is projected to boost the market during the forecast period.
  • High cost of the products and unavailability of raw material is estimated to hamper the market.
  • R&D investment and technological advancement food and hospitality sector is projected to create lucrative opportunities for the market players.

Scope of the Report

The report on the aroma chemicals market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Aroma Chemicals Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2021–2028

Segmentation

Types (Natural and Synthetic) and Applications (Food & Beverage, Fine Fragrances, Cosmetics & Toiletries, Soaps & Detergents, and Household)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

BASF SE, Bell Flavors & Fragrances, Givaudan, Kao Corporation, Symrise, and Takasago International Corporation


Market Segment Insights:

The synthetic segment is anticipated to expand at a rapid pace
Based on types, the aroma chemicals market is segregated into natural and synthetic. The synthetic segment held a major market share of around 73.9% in 2019 and is projected to expand at rapid pace during the forecast period. The synthetic aroma has high demand for personal care, food and beverages, and cosmetics industries.

The natural aroma segment is projected to expand at a substantial CAGR during the forecast period. Natural aroma chemicals are considered therapeutic, greener, and sustainable by consumers. Lack of raw material coupled with high cost to produce fragrance by natural aroma chemicals is anticipated to hamper the market growth during the forecast period.

Aroma Chemicals Market By Types

The fine fragrance segment is anticipated to expand during the forecast period
On the basis of applications, the aroma chemicals market is segregated into food & beverage, fine fragrances, cosmetics & toiletries, soaps & detergents, and households. The fine fragrance segment held a major market share of about 69% share in 2019 and is projected to expand at a robust CAGR during the forecast period. The developing nations are projected to provide high growth opportunities. Major factors boosting the market include rising disposal income and increasing popularity of exotic flavors.

Aroma Chemicals Market By Applications

The market in Asia Pacific is projected to hold a major market share
In terms of regions, the aroma chemicals market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific was valued at 29.6% in 2019 and is projected to expand at a high CAGR during the forecast period. Developing countries such as China, India, and Japan are expected to grow rapidly in the near future. The market in North America is expected to expand in countries such as the United States, Canada, and Mexico due to rise in consumer goods and food processing industries.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Aroma Chemicals Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Aroma Chemicals Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Aroma Chemicals Market - Supply Chain
  4.5. Global Aroma Chemicals Market Forecast
     4.5.1. Aroma Chemicals Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Aroma Chemicals Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Aroma Chemicals Market Absolute $ Opportunity
5. Global Aroma Chemicals Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Aroma Chemicals Market Size and Volume Forecast by Types
     5.3.1. Natural Synthetic
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Aroma Chemicals Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Aroma Chemicals Market Size and Volume Forecast by Applications
     6.3.1. Food & Beverage Fine Fragrances Cosmetics & Toiletries Soaps & Detergents Household
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Aroma Chemicals Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Aroma Chemicals Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Aroma Chemicals Demand Share Forecast, 2019-2026
8. North America Aroma Chemicals Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Aroma Chemicals Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Aroma Chemicals Market Size and Volume Forecast by Types
     8.4.1. Natural Synthetic
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Aroma Chemicals Market Size and Volume Forecast by Applications
     8.7.1. Food & Beverage Fine Fragrances Cosmetics & Toiletries Soaps & Detergents Household
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Aroma Chemicals Demand Share Forecast, 2019-2026
9. Latin America Aroma Chemicals Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Aroma Chemicals Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Aroma Chemicals Market Size and Volume Forecast by Types
     9.4.1. Natural Synthetic
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Aroma Chemicals Market Size and Volume Forecast by Applications
     9.7.1. Food & Beverage Fine Fragrances Cosmetics & Toiletries Soaps & Detergents Household
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Aroma Chemicals Demand Share Forecast, 2019-2026
10. Europe Aroma Chemicals Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Aroma Chemicals Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Aroma Chemicals Market Size and Volume Forecast by Types
     10.4.1. Natural Synthetic
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Aroma Chemicals Market Size and Volume Forecast by Applications
     10.7.1. Food & Beverage Fine Fragrances Cosmetics & Toiletries Soaps & Detergents Household
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Aroma Chemicals Demand Share Forecast, 2019-2026
11. Asia Pacific Aroma Chemicals Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Aroma Chemicals Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Aroma Chemicals Market Size and Volume Forecast by Types
     11.4.1. Natural Synthetic
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Aroma Chemicals Market Size and Volume Forecast by Applications
     11.7.1. Food & Beverage Fine Fragrances Cosmetics & Toiletries Soaps & Detergents Household
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Aroma Chemicals Demand Share Forecast, 2019-2026
12. Middle East & Africa Aroma Chemicals Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Aroma Chemicals Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Aroma Chemicals Market Size and Volume Forecast by Types
     12.4.1. Natural Synthetic
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Aroma Chemicals Market Size and Volume Forecast by Applications
     12.7.1. Food & Beverage Fine Fragrances Cosmetics & Toiletries Soaps & Detergents Household
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Aroma Chemicals Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Aroma Chemicals Market: Market Share Analysis
  13.2. Aroma Chemicals Distributors and Customers
  13.3. Aroma Chemicals Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. BASF SE
     13.4.2. Bell Flavors & Fragrances
     13.4.3. Givaudan
     13.4.4. Kao Corporation
     13.4.5. Symrise
     13.4.6. Takasago International Corporation
Segments Covered in the Report
The aroma chemicals market is segmented on the basis of

Types
  • Natural
  • Synthetic
Applications
  • Food & Beverage
  • Fine Fragrances
  • Cosmetics & Toiletries
  • Soaps & Detergents
  • Household
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • BASF SE
  • Bell Flavors & Fragrances
  • Givaudan
  • Kao Corporation
  • Symrise
  • Takasago International Corporation

The major players in the aroma chemicals market include BASF SE, Bell Flavors & Fragrances, Givaudan, Kao Corporation, Symrise, and Takasago International Corporation.

Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.

 Aroma Chemicals Market By Key Players

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