Aroma chemical is a complex fusion of natural and/or synthetic ingredients that are added to various products in order to incorporate desired odor. These ingredients are widely used in consumer care and personal care products. Personal care industry is one of the major application industry for aroma ingredients market. The global aroma ingredients market has witnessed steady growth over the recent past owing to increasing demand for natural aroma ingredients. Soaps and detergent is estimated to account for a significant share in the global aroma ingredients market followed by cosmetics and toiletries applications. The global aroma ingredients market is expected to register a steady growth during forecast period.
Global Aroma Ingredients Market: Drivers: Introduction of innovative and novel products especially in cosmetics, toiletries, and skin care and hair care products has driven the overall growth of the global aroma ingredients market. The increasing demand for natural ingredients coupled with change in consumer preferences are considered to be the important driver for global aroma ingredients market. Furthermore, significant technological advancements have also fuelled the growth of the market. Moreover, the increase in demand from the emerging and developing nations for natural fragrance due to health concerns related to synthetic chemicals is likely to act as an opportunity for the growth of the global aroma ingredients market. These factors are likely to drive the global aroma ingredients market during the forecast period. A key trend witnessed in global aroma chemicals market is that the key aroma chemical producers are responding to growing opportunities by expanding their global presence. One of the major factor that is likely to restrict growth in demand for natural aroma ingredients is high costs associated with switching from synthetic chemical to natural ingredients.
Essential oils segment can further be sub-segmented into menthe arvensis, cedar wood, orange, eucalyptus, citronella and others (basil, clove, jamrosa, litsea cubica, sassafras, coriander, patchouli, camphor and lemon grass) Whereas, aroma chemicals segment can further be sub-segmented into turpenes, musk chemical, benzenoids and others (alicyclic, heterocyclic and aliphatic compounds).
Global Aroma Ingredients Market: Region Wise Outlook :On the basis of regions, Europe is expected to be a promising revenue generating region for the global aroma ingredients market and is expected to grow at steady growth rate during forecast period. Latin America and Asia Pacific are anticipated to witness relatively faster growth both in terms of value and in terms of volume. Potential opportunities in Asia Pacific and Latin America due to availability of labor and low cost of raw materials are expected to drive growth in these regions over the forecast period. North America and Middle East & Africa are also expected to show positive growth in the near future.
Global Aroma Ingredients Market: Key Players: Some of the key players identified in the global aroma ingredients market are as follows:BASF SE,Mane SA,International Flavors and Fragrances Inc.,Givaudan SA,Fermenich International SA,Frutarom Industries Ltd.,Symrise AG,Agilex Flavors and Fragrances, Inc.,Hindustan Mint & Agro Products Pvt. Ltd.
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