According to this report, the Global Aroma Chemicals Market accounted for $4.08 billion in 2016 and expected to grow at a CAGR of 6.8% to reach $6.48 billion by 2023.
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Factors like change in consumer preferences, healthy and green sustainability package among the consumers and growth in end user markets are boosting the market growth.
High R&D cost and compliance with quality and regulatory standards will impede the market growth. Furthermore, surge in demand for natural aroma chemicals and advances in technology and emerging applications, increased penetration in emerging markets and the demand for custom fragrances are few trends market is likely to observe.
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Terpenes segment dominated the market due to easy availability of raw materials and the increase in usage of terpenes in industrial applications. Soaps and detergents segment accounted for the largest market share because most of the soap makers source fragrance chemicals from suppliers that manufacture fragrance ingredients.
Asia Pacific region accounted for the largest market share due to huge domestic consumption of aroma chemicals in India. Europe is expected to be a significant revenue generating region during forecast period.
Some of the key players in Global Aroma Chemicals Market are BASF, Bell Flavors and Fragrances, Givaudan, Jiaxing Wintrust Flavours Co.,Ltd, Kao Corporation, Kerry Group, S H Kelkar and Company Limited, Sensient Technologies, Symrise, Takasago International Corporation, Treatt, Vigon International, YingYang (China) Aroma Chemical Group, International Flavors and Fragrances Inc and China Flavors and Fragrances.
Chemical Types Covered:
-Terpenoids & Terpenes (Cyclic and Acyclic)
-Other Chemical Types
-Synthetic Aroma Chemicals
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-Cosmetics and Toiletries
-Food and Beverages
-Soaps and Detergents
- Mosquito Repellent
- Rest of Europe
- New Zealand
- Rest of Asia Pacific
-Rest of the World
- Middle East
- South Africa
10.2 Bell Flavors and Fragrances
10.4 Jiaxing Wintrust Flavours Co.,Ltd
10.5 Kao Corporation
10.6 Kerry Group
10.7 S H Kelkar and Company Limited
10.8 Sensient Technologies
10.10 Takasago International Corporation
10.12 Vigon International
10.13 YingYang (China) Aroma Chemical Group
10.14 International Flavors and Fragrances Inc
10.15 China Flavors and Fragrances
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