Aroma Chemicals Market
Segments - 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.
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 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 Aroma Chemicals Market 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.
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Attributes |
Details |
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Report Title |
Aroma Chemicals Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2021 |
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Historic Data |
2019–2020 |
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Forecast Period |
2021–2028 |
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Segmentation |
Types (Natural and Synthetic) and Applications (Food & Beverage, Fine Fragrances, Cosmetics & Toiletries, Soaps & Detergents, and Household) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
BASF SE, Bell Flavors & Fragrances, Givaudan, Kao Corporation, Symrise, and Takasago International Corporation |
Aroma Chemicals 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.
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.
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.
Segments
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
Competitive Landscape
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.
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
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
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