Global Aroma Chemicals Market is published to reach USD 8.41 billion by 2027. The market is rising rapidly as the demand for the odorants, and fragrant intensifiers are growing considerably in the global market. Perfumes, body deodorants, air-fresheners, soaps, food-scented chemicals are some of the highly consumed end-use products which add to the aroma ingredients market value appreciably. Massive demand for the personal care industries specializing the skincare, hair care products, and a sudden enormous lift in the growth of the medicated personal care topical medicinal products have substantially propelled the overall market growth and expected to add to the market share predominantly in the forthcoming years. Chemical compounds such as Esters, terpenes have the most number of applications and hence have the highest demand from the end-users.
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BASF SE, International Flavors Fragrances Inc., Privi Organics India Limited, MANE, Hindustan Mint Agro Products Pvt. Ltd., SymriseAG, Takasago International Corporation, Givaudan, Fairchem Speciality Ltd, and PFW Global Aroma Chemicals, among others.
Further key findings from the report suggest:
Floral fragrances owing to its maximum end usages, possesses the highest market share of 16.3% in 2019 and would grow fastest at a rate of 6.1% during the forecast period. These fragrances are used in the perfumes, deodorants, cologne scents, fragrance powder, and soaps, among others. Rose, lilac, and lavender are some of the most used floral fragrances.
Medical usage consists of the healthcare medicated products and the treatments done with the aroma ingredients. Aromatherapy reduces mental and physical stress and also diminishes several mental ailments as well as severe headache. Aromatic products arouse the sexual appealing by stimulating the hormonal secretions. The sub-segment is expected to achieve a higher market share by 2027.
Advancement in manufacturing techniques, a higher availability of the resources for the manufacturing units, dexterous processing technique, higher production capacity, increased consumers, and favorable business models of export import, the Asia Pacific developing countries have been in trend for the raw material and chemical products outsourcing.
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The global Global Aroma Chemicals market is rapidly expanding over the last few years and is expected to register a robust CAGR in the coming years. Technological advancements, increasing need to develop sustainable and biodegradable products, and rising disposable income across the globe are key factors boosting global market growth. Increasing investments and funding from government to support materials and chemical industry and increasing demand for chemicals and raw material in various sectors including pharmaceutical and biotechnology, food and beverage, and increasing awareness about organic soaps and perfumes are further expected to fuel market growth.
The global Global Aroma Chemicals market is extremely competitive and comprises various regional and global market players. These key players are involved in various strategies such as mergers and acquisitions, collaborations, partnerships joint ventures and new product launches to gain robust footing in the market.
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Global Aroma Chemicals Market segmentation by Types:
Global Aroma Chemicals Market segmentation by Application:
The regional analysis covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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