The increasing usage of personal care products, coupled with a growing emphasis on luxury perfume cosmetics products and increasing disposable income in developing regions, is driving the demand for the market.
Market Size – USD 5.16 billion in 2019, Market Growth - CAGR of 6.2%, Market Trends – The considerable growth of the perfume, deodorants, and air-freshener products.
The Global Aroma Chemicals Market is projected to reach USD 8.41 billion by 2027. The market is rising rapidly as the demand for the odorants, and fragrant intensifiers are growing considerably in the global market. Perfumes, body deodorants, air-fresheners, soaps, food-scented chemicals are some of the highly consumed end-use products which add to the aroma ingredients market value appreciably. Massive demand for the personal care industries specializing the skincare, hair care products, and a sudden enormous lift in the growth of the medicated personal care topical medicinal products have substantially propelled the overall market growth and expected to add to the market share predominantly in the forthcoming years. Chemical compounds such as Esters, terpenes have the most number of applications and hence have the highest demand from the end-users.
The COVID-19 impact:
The COVID-19 pandemic has created endless disruptions to the manufacturing or production industries due to a shortage of resources in different parts of the world. The leading players in the industry are skeptical about the market's future and try to redesign their strategies to support the challenge. The pandemic had a serious impact on the research development as the companies are being refrained from investing in any newer aspect of research or product innovation for the time being. The manufacturing industries also have been disrupted due to reduced available human resources. The companies are incorporating different techniques to increase the production volume and trying to develop innovative solutions at an affordable price, which can meet customer requirements at a much lower cost and support the overall breakthrough required for sustainability in the increased perfume deodorants product penetration.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/366
Key companies profiled in the Aroma Chemicals report are:
- BASF SE,
- International Flavors Fragrances Inc.,
- Privi Organics India Limited,
- Hindustan Mint Agro Products Pvt. Ltd.,
- Takasago International Corporation,
- Fairchem Speciality Ltd,
- and PFW Aroma Chemicals,
- among others.
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/366
Aroma Chemicals Market Segmentation based on Types:
Aroma Chemicals Market Segmentation based on Application:
- Cosmetics Toiletries
- Household Products
- Foods Drinks
- Medical Usage
The regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To know more about the report @ https://reportsanddata.com/report-detail/aroma-chemicals-market
Further key findings from the report suggest:
Esters include some acetates, butyrate, propionate and some other organic compounds. Mostly, floral, sweet, and fruity are the type of fragrances which are derived from this chemical compound and has got the highest market share of about 25.3% in 2019. The CAGR for this sub-segment is calculated to be 5.5% throughout the forecast period.
Floral fragrances owing to its maximum end usages, possesses the highest market share of 16.3% in 2019 and would grow fastest at a rate of 6.1% during the forecast period. These fragrances are used in the perfumes, deodorants, cologne scents, fragrance powder, and soaps, among others. Rose, lilac, and lavender are some of the most used floral fragrances.
Medical usage consists of the healthcare medicated products and the treatments done with the aroma ingredients. Aromatherapy reduces mental and physical stress and also diminishes several mental ailments as well as severe headache. Aromatic products arouse the sexual appealing by stimulating the hormonal secretions. The sub-segment is expected to achieve a higher market share by 2027.
Request a customization of the report @ https://reportsanddata.com/request-customization-form/366
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
We are a boutique market intelligence and strategic consulting firm dedicated to make an meaningful impact on businesses across the globe. Our stellar estimation and forecasting models have earned recognition across majority of the business forum across the globe. Our services are arrayed over diverse sectors and industries looking to expand in alternative regions and products.
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370