Press
Release

Global Aroma Chemicals Market to Grow at CAGR of ~6% in 2019–2027, Expected to Reach Value of ~US$ 7.8 Bn: TMR

• Growing focus of major vendors to use advanced technologies in manufacturing will help in rapid expansion of the global aroma chemicals market. Increased trend of using natural products by major end users is foreseen to impact positively on the market growth. 
• Asia Pacific will show prominent growth avenues in the aroma chemicals market.

Transparency Market Research, New York: Aroma chemicals are generally obtained from aromatic compounds and essential oils. They are used as a raw material in the manufacturing of gamut of personal care products including cosmetics, fine fragrances, and toiletries. Similarly, they find application in the production of many household care products such as dishwashing, and laundry. Depending on the source, there two types of aroma chemicals, namely, natural and synthetic.

Analysts at TMR highlight that the aroma chemicals market will show promising growth during the tenure of 2019 to 2027. The present valuation of this market is ~US$ 4.6 Bn, and it is projected to touch the value of ~US$ 7.8 Bn by 2027 end. On regional front, Asia Pacific and Europe hold significant shares in the aroma chemicals market.

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Key Findings of Aroma Chemicals Market Report

• The global aroma chemicals market is expected to show growth at a CAGR of around 6 % during the tenure of 2019 to 2027.
• The valuation of this market is projected to touch the value of ~US$ 7.8 Bn by 2027.
• Of various product types, benzenoids segment accounted for prominent shares of the global aroma chemicals market in 2018.
• With regard to source, synthetic is dominating market segment.
• Geographically, Europe was prominent market region in 2018.
• Among all regions, Asia Pacific aroma chemicals market is expected to show rapid growth in the upcoming period.
• The aroma chemicals market is consolidated in four important vendors.

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Aroma Chemicals Market: Key Driving Factors and Promising Avenues

• Many companies engaged in the global aroma chemicals market using advanced technologies such as artificial intelligence (AI) in their production processes. As a result, they are producing newer, greener, and safer products. This factor is expected to help in the expansion of the global aroma chemicals market in the years to come.
• Major population from all across the world is inclined toward the use of products manufactured using natural ingredients. As a result, manufacturers of cosmetics and personal care products are growing use of natural aroma chemicals. This factor is foreseen to generate demand avenues in the natural segment of the global aroma chemicals market in the forthcoming years.
• The market is projected to experience outstanding development opportunities in Asia Pacific. Key reasons attributed to this growth are remarkable increase in population, improved disposable income, and lifestyle improvements of major populace in this region.

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Aroma Chemicals Market: Competitive Assessment

Several companies engaged in the global aroma chemicals market are increasing spending on research activities. The main motive of these activities is to combine fragrances with diverse home care products.

Many vendors from the aroma chemicals market are concentrating on collaboration and partnership agreements with detergent manufacturers as well as washing machine manufacturing companies. By using this strategy, they are chasing the possibility of manufacturing cost-efficient and superior-quality detergents for customers. All these activities connote that the aroma chemicals market is expanding at promising rate.

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The list of key companies operating in the global aroma chemicals market includes Symrise AG, Givaudan, Firmenich S.A., International Flavors & Fragrances Inc., Tennants Fine Chemicals Ltd., BASF SE, Kao Corporation, Takasago International Corporation, Eternis Fine Chemicals Ltd., Yingyang (China) Flavors & Fragrance Group, QINGDAO COSO, INTERNATIONAL TRADING CO., LTD., and Privi Organics India Limited.

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The Aroma Chemicals Market can be segmented as follows:

Source

• Natural
• Synthetic

Product

• Terpenoids
• Benzenoids
• Musk Chemicals
• Others (Aldehydes,Ketones, Esters,etc.)

Application

• Personal Care
• Fine Fragrances
• Cosmetics and Toiletries
• Household Care
• Laundry
• Dishwashing
• Others (Candles, Incense Sticks, etc.)
• Others (Food & Beverages, Medical, etc.)

Region

• North America
• Europe
• Asia Pacific
• Middle East &Africa
• Latin America

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