Aroma Chemicals Market (By Source: Natural, Synthetic, Natural-identical; By Chemicals: Benzenoids, Musk Chemicals, Terpenes & Terpenoids, Others (Ketones, Esters, Aldehydes); By Application: Flavors, Fragrance) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global Aroma Chemicals market size is expected to be worth around US$ 10.9 billion by 2030, according to a new report by Vision Research Reports.

The global Aroma Chemicals market size was valued at US$ 6.2 billion in 2020 and is anticipated to grow at a CAGR of 4.5% during forecast period 2021 to 2030.

Report Coverage

Growth Factors

The growth is majorly driven by increasing utilization of the product in the formulation of numerous food and beverages, soaps and detergents, cosmetics and toiletries, and other products, especially in emerging economies of the Asia Pacific region.

The demand for the product is anticipated to be driven by increased consumption of flavors and fragrance products in the food and beverages, soaps and detergents, and cosmetics and toiletries industries. The aroma chemical manufacturers are focusing on developing natural products to comply with stringent environmental norms. Additionally, consumers are increasingly becoming more aware of the product benefits, which has compelled the suppliers to maintain high-quality levels by integrating themselves into production.

By Source Analysis

The synthetic source segment dominated the market for aroma chemicals and accounted for the largest revenue share of 69.6% in 2020. This is attributed to the growing demand for synthetically produced aroma products in food and beverages, personal care, and cosmetics. 

naturally derived aroma chemicals are observed to be a prominent source for flavors and are extracted from pine trees by natural extraction methods. Globally, consumers are getting aware of the effects of artificial additives and ingredients in food products.

Natural flavors can interact with other ingredients in unexpected ways. Also, natural flavor or scents can sometimes be difficult to produce as various natural ingredients do not have the capacity required for blending with the other fragrances.

By Chemical type Analysis

The terpenes and terpenoids chemicals segment dominated the market for aroma chemicals and accounted for the largest revenue share of 38.4% in 2020. Its high share is attributable to its natural availability and the increased utilization of terpenes resin in paints and printing inks, pressure-sensitive tapes, rubber adhesives, and chewing gums.

Terpenes also play an essential role as fragrances and flavoring agents for several end-use applications. The food and beverages and rubber industries hold a major share in the consumption of terpenes.

The benzenoids segment is growing rapidly owing to their increasing commercial importance. They are being utilized, owing to their fragrance, in various applications such as soaps and detergents, cosmetics and personal care products, food and beverages, and other household products.

By Application Analysis

The fragrance application segment dominated the market for aroma chemicals and accounted for the largest revenue share of 68.9% in 2020. Its high share is attributable to the growing demand for unique fragrances and growth in emerging application areas such as men’s fragrance, cosmetics, and others. 

The high demand for natural flavoring products is a prominent driver for the product manufacturers. Further, emerging economies are expected to have great potential for the aroma chemicals market.

The fine fragrance market is driven by the high demand for organic perfumes, unique fragrances, and increasing consumer awareness about organic products. Organic perfumes are certified by PETA and are completely vegan.

By Regional Analysis

Asia Pacific dominated the market for aroma chemicals and accounted for the largest revenue share of 31.1% in 2020. The market is anticipated to witness a CAGR of 6.2% from 2021 to 2030. 

The product market is expected to grow moderately in countries such as the U.S. and Canada owing to rising demand for low carbohydrate and low-fat food and beverage products and consumer goods coupled with expanding food processing industry. 

Europe emerged as a significantly growing market for the product, and this trend is expected to continue over the forecast period owing to the rapid growth of the personal care and cosmetics market.

Key Players

• Privi Organics India Limited

• BASF SE

• Kao Corporation

• Takasgo International Corporation

• Givaudan

• Bell Flowers & Fragrances

• Symrise

• S H Kelkar and Company

Market Segmentation

• By Source 

  • Natural

  • Synthetic

  • Natural-identical

• By Chemicals 

  • Benzenoids

  • Musk Chemicals

  • Terpenes & Terpenoids

  • Others (Ketones, Esters, Aldehydes)

• By Application 

  • Flavors

    • Confectionery

    • Convenience Food

    • Bakery Food

    • Dairy Products

    • Beverages

    • Others

  • Fragrance

    • Fine Fragrance

    • Cosmetics and Toiletries

    • Soaps and Detergents

    • Others

• Regional

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

The Aroma Chemicals market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Aroma Chemicals market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Aroma Chemicals market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Aroma Chemicals market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Aroma Chemicals market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Aroma Chemicals capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Aroma Chemicals by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Aroma Chemicals market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Aroma Chemicals market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Aroma Chemicals market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Aroma Chemicals industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Aroma Chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Aroma Chemicals market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Aroma Chemicals market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Aroma Chemicals market. These factors have benefited the growth of the global market for Aroma Chemicals. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Aroma Chemicals. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Aroma Chemicals are as follows:

• History Year: 2017-2020

• Base Year: 2021

• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.