The aroma chemicals market is projected to grow at a CAGR of 5.51% to reach US$4.773 billion by 2024, from US$6.585 billion in 2018. Aroma chemicals can be defined as the aromatic compounds which have aromatic synthetic aromas. These chemicals are widely used in perfume, cosmetics and food and beverages industries. Flourishing flavor and fragrance industry is driving the aroma chemicals market growth. Rapid urbanization across the globe is leading to an increased demand for fragrance products among the young population which is augmenting the demand for aroma chemicals in the personal care industry. The market is expected to grow at a steady pace owing to its increased usage in the food and beverage industries.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the aroma chemicals value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the aroma chemicals market.
Major industry players profiled as part of the report are BASF SE, YingYang (China) Aroma Chemical Group, Advanced Biotech, Shanghai Pu-Jie Fragrance Co., Ltd., Silverline Chemicals, WILD Flavors and Specialty Ingredients, International Flavors & Fragrances Inc., Kao Corporation, Fairchem Speciality Limited, and Vigon International.
The aroma chemicals market has been analyzed through the following segments:
Cosmetic and Toiletries
Soaps and Detergents
Middle East and Africa