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.
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 10.9 Billion by 2030 |
| Growth Rate | CAGR of 4.5% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Source, Chemical, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Privi Organics India Limited; BASF SE; Kao Corporation; Takasgo International Corporation; Givaudan; Bell Flowers & Fragrances; Symrise; S H Kelkar and Company |
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
- Flavors
- 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
- North America
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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
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Aroma Chemicals Market, By Source
7.1. Aroma Chemicals Market, by Source, 2021-2030
7.1.1. Natural
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Synthetic
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Natural-identical
7.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Aroma Chemicals Market, By Chemicals
8.1. Aroma Chemicals Market, by Chemicals, 2021-2030
8.1.1. Benzenoids
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Musk Chemicals
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Terpenes & Terpenoids
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Others (Ketones, Esters, Aldehydes)
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Aroma Chemicals Market, By Application
9.1. Aroma Chemicals Market, by Application, 2021-2030
9.1.1. Flavors
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Fragrance
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Aroma Chemicals Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Source (2017-2030)
10.1.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.1.3. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Source (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Source (2017-2030)
10.1.5.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Source (2017-2030)
10.2.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.2.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Source (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Source (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Source (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Source (2017-2030)
10.2.7.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Source (2017-2030)
10.3.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.3.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Source (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Source (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Source (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Source (2017-2030)
10.3.7.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Source (2017-2030)
10.4.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Source (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Source (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Source (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Source (2017-2030)
10.4.7.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Source (2017-2030)
10.5.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Source (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Source (2017-2030)
10.5.5.2. Market Revenue and Forecast, by Chemicals (2017-2030)
10.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. Privi Organics India Limited
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. BASF SE
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Kao Corporation
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Takasgo International Corporation
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Givaudan
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Bell Flowers & Fragrances
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Symrise
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. S H Kelkar and Company
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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