Sustained demand for some of the most common aroma chemicals such as vanillin, citral, and menthol (mint) primarily drives the growth of aroma chemical market worldwide. Majorly consumed by food and beverage manufacturing companies, aroma chemicals also continue to witness ascending demand from manufacturers of cosmetics and personal care products, fragrances and perfumes, household cleaners, and air freshening products. Fairfield Market Research in its latest ongoing study intends to assess how the growth of global aroma chemical market will unfold over the course of next few years. Flavour extracts, essential oils, and synthetic flavours will continue to be some of the top-selling product categories in global aroma chemical market, suggests the report.
The Maximum Demand Generation Expected from F&B Industry Participants
F&B companies have been consuming measurably large volumes of aroma chemicals as a preferred means of flavouring, preservation, and fragrance. Their increasing use to uplift the existing aroma or flavour, and mask an unwanted odour is expected to enhance the growth prospects of the market. Moreover, several aroma chemicals also serve an important role in extending the shelf-life of the various F&B product categories by preventing any potential spoilage, which will encourage adoption to a large extent. Sustained demand for some of the most popular aroma chemicals like vanillin, ethylvanillin, and linalool is projected to uphold market growth over the foreseeable future. While the former two continue to witness traction in bakery industry, and ice cream and candy-like categories, the latter remains popular among the cosmetics, and perfumes brands.
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Natural Aroma Chemicals Continue to Garner Preference
Derived from plant, or animal sources, natural aroma chemicals continue to be in demand for a broad range of applications across key end-use industries, i.e., home and personal care, and F&B. The natural ingredient trend is likely to bode well for the growth of aroma chemical market. Owing to their plethora of advantages over their synthetic counterparts, natural aroma chemicals remain highly preferred when it comes to toxicity, sustainability, and fragrance quality. While food and beverage manufacturers strive to align with the proliferating consumer demand for natural ingredients-based products, it is likely to benefit the performance of natural aroma chemicals in aroma chemical market.
Asia Pacific Continues to Surge Ahead in Global Aroma Chemical Market
With just-below a third of the worldwide shipments in terms of value, Asia Pacific remains the top regional market for aroma chemical brands. While China spearheads, Thailand, India, and South Korea also represent the next biggest markets in the region. North America, followed by Europe, further represent the significant markets with around 22%, and 18% revenue share respectively. China has also been the largest importer across the region, followed by India, Singapore, Malaysia, and Vietnam. With the Asian subcontinent becoming the global industrial hub for cosmetics and personal care, home care, and F&B industries, aroma chemical consumption of likely to remain on an upswing through the foreseeable future.
Aroma Chemical Market Vendor Landscape
The report would provide readers with some of the most exclusive insights on the competition landscape of global aroma chemical space. International Flavours & Fragrances Inc., Firmenich SA, Givaudan, Symrise AG, Mane SA, and Takasago International Corporation constitute some of the prominent players stirring competition in aroma chemical market.
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Aroma Chemicals Market: Key HighlightsIn terms of value, the global aroma chemicals market is anticipated to expand at a CAGR of ~6% from 2019 to 2027.The personal care segment accounted for a major share of the global aroma chemicals market in 2018, owing to the rise in the consumption of aroma chemicals in fine fragrances and cosmetics & toiletries, and growth in the fast moving consumer goods (FMCG) industry across the globe.In terms of source, the synthetic segment dominated the global aroma chemicals market in 2018, due to easy availability and better mixing properties with other chemicals.The aroma chemicals market in Asia Pacific is estimated to expand at a CAGR of more than 6% during the forecast period, owing to the rise in the demand for aroma chemicals in personal care and household care products.Request A Sample of Aroma Chemicals Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=2134Benzenoids Aroma Chemicals Dominate Aroma Chemicals MarketIn terms of product, the benzenoids segment led the global aroma chemicals market in 2018, due to their excellent properties to replicate the natural aroma and superior mixing properties with other chemicals.
Terpenoids can be derived from natural sources such as plants and flowers.
Thus, rise in the demand for natural products is likely to fuel the terpenoids segment during the forecast period.Complex Quality and Regulatory Standards Pose Significant Challenges for ManufacturersThe International Fragrance Association (IFRA) has banned several aroma chemicals that are potentially harmful, as prolonged usage of these can cause various allergic reactions, asthma attacks, nausea, and even skin cancer.
Consequently, regulations have been implemented on these chemicals across the globe to avert ecological issues.Implementation of strict guidelines for manufacturers to gauge and maintain (within stipulated limits) the emissions of VOCs during the production of aroma chemicals poses a challenge for the aroma chemicals market.Asia Pacific to be Highly Lucrative Region in Global Aroma Chemicals MarketIn terms of volume, Asia Pacific constituted a prominent share of the global aroma chemicals market in 2018.
This is positively impacting the demand for aroma chemicals in the region.The penetration of premium brands of fine fragrances in countries such as China, India, and Indonesia is also augmenting the demand for aroma chemicals in Asia Pacific.Global Aroma Chemicals Market – Key DevelopmentsOn October 4, 2018, International Flavors & Fragrances Inc. acquired 100% equity of Frutarom Industries Ltd. Frutarom Industries Ltd., an Israel-based company, which is in the business of development, production, and marketing of flavors and fine ingredients used in manufacturing food, beverages, flavors, and fragrances and personal care products.On April 6, 2018, MANE opened a new manufacturing site in Colombia.
The new manufacturing site is estimated have facilities such as production, creative center, and sales & marketing offices for fragrances and flavors for Colombia and the Andean region.Aroma Chemicals Market – Competition LandscapeThe global aroma chemicals market is highly consolidated.
