A recent study on the Aroma Chemicals Market closely examines the performance of the major market vendors operating in the Aroma Chemicals Market for the forecast period 2020 to 2027.
New York, NY -- (SBWIRE) -- 11/26/2020 -- The growing consumption of personal care products like luxury perfume and cosmetics items due to a rise in disposable incomes is stimulating the industry growth.
Market Size – USD 5.16 billion in 2019, Market Growth - CAGR of 6.2%, Market Trends – Growing demand for deodorants, perfume, and air-freshener products.
According to a new report by Reports and Data, the Global Aroma Chemicals Market size is estimated to reach USD 8.41 billion from USD 5.16 billion in 2019, delivering a CAGR of 6.2% through 2027. The market growth is driven by increased demand for aroma chemicals arising from the personal care industries specializing in hair care and skincare products. Massive growth in topical medicines and medicated personal care products will also supplement the aroma chemicals market share substantially.
Over the past few years, the consumption of certain products like odorants, fragrant intensifiers perfumes, air-fresheners, body deodorants, food-scented chemicals, soaps, and others has exponentially increased. The production of these highly consumed end-use products relies heavily on aroma chemicals. The key players in the global aroma chemicals market are investing heavily in the research & development of the development of unique fragrances, which is positively impacting the synthetic aromas market as well. A few of the most renowned companies operating in the aroma chemicals market are Perfumery, Perfumers Apprentice, and Oil Perfumery.
Prominent players in the market are BASF SE, Privi Organics India Limited, International Flavors & Fragrances Inc., MANE, SymriseAG, Hindustan Mint & Agro Products Pvt. Ltd., Takasago International Corporation, PFW Aroma Chemicals, and Givaudan, Fairchem Speciality Ltd, among others.
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Some of the extensively discussed topics in the aroma chemicals market report are synthetic perfume ingredients, perfume chemical ingredients, perfume ingredients by brand, perfume ingredients label, to name a few.
The COVID-19 impact:
The outbreak of the COVID-19 pandemic has shaken all markets by creating supply chain and market disruption, which has led to affected production and demand. The industry players are incorporating different methods to roll out products at an affordable price to meet customer requirements at a much lower cost in these times of crisis. The solution to various multi-layered uncertainties experienced by product manufacturers and industries involved in the supply chain are covered in this research report.
The aroma chemicals market report has been segmented by Reports and Data on the basis of type of fragrance, chemical compounds, sales channel, applications, and region:
Type of Fragrance Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Chemical Compounds Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Cosmetics & Toiletries
Foods & Drinks
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- North America
o Rest of Europe
- Asia Pacific
o Rest of APAC
o Saudi Arabia
o Rest of MEA
- Latin America
o Rest of LATAM
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Further key findings from the report suggest
On the basis of type, the floral fragrances segment accounted for 16.3% of the aroma chemicals market share in 2019 and is estimated to grow at a CAGR of 6.1% through 2027. The segmental growth can be attributed to the extensive product usage in perfumes, cologne scents, deodorants, soaps, fragrance powder, and others.
Based on chemical compounds, the esters segment held the highest market share of nearly 25.3% in 2019 and is projected to grow at 5.5% over the analysis period. Esters category include butyrate, propionate, acetates, and some other organic compounds. Floral, fruity and sweet, are the common type of fragrances which are derived from esters. Increasing consumer inclination towards organic fragrances will boost segmental growth over the coming years.
Based on application, the medical usage segment is poised to grow significantly over the analysis period due to the growing popularity of aromatherapy for its mental and physical stress-reducing properties.
Regionally, Europe is anticipated to sustain its dominance in the market with the maximum revenue share over the analysis period. The robust growth can be attributed to the extensive R&D spending in the perfume & cosmetics industries by France, Germany and England, along with the availability of the region's century-old aromatic formulations.
The developing countries of the Asia Pacific region have been in trend for the chemical products and raw material outsourcing. The region is estimated to contribute significantly to the aroma chemicals market share through 2027 due to a plethora of factors, including a higher availability of the resources for the manufacturing units, advancement in manufacturing techniques, higher production capacity, favorable business models of export & import, and expanding consumer base.
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