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Aroma Chemicals Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | BASF SE, Solvay S.A., Takasago International Corporation, Kao Corporation, Hindustan Mint And Agro Products Pvt. Ltd
Aroma Chemicals Market Characteristics
The Business Research Company offers in-depth market insights through Aroma Chemicals Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The aroma chemicals market size has grown strongly in recent years. It will grow from $5.75 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to growth in fragrance and flavors industry, consumer preference for natural ingredients, rise in personal care products demand, globalization of the perfume market, urbanization and changing lifestyles..
The aroma chemicals market size is expected to see strong growth in the next few years. It will grow to $8.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to sustainability and green chemistry practices, rising popularity of home fragrances, alternative sources for aroma chemicals, consumer awareness and transparency, increasing disposable income.. Major trends in the forecast period include natural aroma chemicals, demand for customized fragrances, biodegradable aroma chemicals, olfactory science and research, adoption of microencapsulation technology, innovation in sustainable sourcing..
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Market Segmentation:
The aroma chemicals market covered in this report is segmented -
1) By Product: Benzenoids, Terpenoids, Musk Chemicals, Other Products
2) By Source: Natural, Synthetic, Natural-identical
3) By Application: Food And Beverages, Fine Fragrances, Cosmetics And Toiletries, Soaps And Detergents, Other Applications
Major Driver - Rising Consumer Demand Boosts Aroma Chemicals Market In Cosmetics And Personal Care Industry
The increasing demand for cosmetics and personal care products is expected to propel the growth of the aroma chemicals market. Cosmetics and personal care items are those made of chemicals that are applied to the human body in an effort to clean, enhance, make it more appealing, or otherwise change the way it looks. Aroma chemicals are primarily used in cosmetics and personal care products to manufacture different types of beauty products and flavors and fragrances. Consumer demand for cosmetics and personal care items is growing, which boosts the market for aroma chemicals. For instance, in January 2021, according to an article shared by Automat.ai, a Canada-based business services, software, and computer software company, in the US, sales of skincare products increased by 13% last year, while sales of makeup items increased by 1%. At that time, the growth of online beauty merchants was 24%, with skincare taking the lead. Therefore, increasing demand for cosmetics and personal care products is driving the growth of the aroma chemicals market.
Competitive Landscape:
Major companies operating in the aroma chemicals market report are BASF SE, Solvay S.A., Takasago International Corporation, Kao Corporation, Hindustan Mint And Agro Products Pvt. Ltd., Givaudan, Privi Speciality Chemicals Limited, SymriseAG, Robertet SA, International Flavors And Fragrances Inc., Treatt PLC, Firmenich SA, Bell Flavors & Fragrances, Cedarome Canada Inc., Eternis Fine Chemicals Ltd., Sensient Technologies, Frutarom, Mane, T. Hasegawa, Shandong Yingyang Flavors & Fragrance Co.Ltd., Huabao International Holdings, Jiaxing Wintrust Flavours, CPL Aromas, Silverline Chemicals, Vigon International, Alpha Aromatics, Grupo Indukern S.L., Veera Fragrances, TFF Group, Wild Flavors Inc., Berjé Inc., Zhejiang Newfine Industry Co. Ltd., The Lebermuth Co. Inc., Synerzine, Triveni Aromatics and Perfumery .
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Top Trend - Key Players Introducing Innovative Aroma Solutions And Sustainable Herbal Aroma Chemical
Product innovations are a key trend gaining popularity in the aroma chemicals market going forward. Major companies operating in the aroma chemicals market are focused on developing innovative solutions to strengthen their position in the market. For instance, in May 2021, P2 Science, Inc. (P2), a US-based green chemistry company, launched Herbenone, a new patented renewable aroma chemical. Herbenone is a new herbal top note made with patented green chemistry from sustainable forestry-derived feedstock. It imparts herbal, anise, fresh basil, and a tad of jasmine notes to all kinds of cosmetics and personal care products. Herbenone is based on the same green chemical platform as other P2 products. As a result, it comes from recycled forestry feedstocks made from certified pine trees by the Forest Stewardship Council.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aroma Chemicals Market Characteristics
3. Aroma Chemicals Market Trends And Strategies
4. Aroma Chemicals Market - Macro Economic Scenario
5. Aroma Chemicals Market Size And Growth
…..
27. Aroma Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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