Aroma chemicals market is currently moving at a tremendous pace with focused approach of the industry players to sustain in the competitive scenario. The expansive use of these chemicals in food and beverages and various cosmetics and personal care products is majorly influencing the market growth phenomenally.
Aroma chemicals are odor active chemicals that are naturally present in the foods, flowers, and juices that are being globally consumed. Originally, aromas and flavors were made of materials extracted from different living materials. However, with each passing day and evolution of science, field experts have begun breaking down the constituents of these natural extractives, while identifying individual compounds with materials. Once tested, these can then be synthesized in laboratories to produce synthetic aroma chemicals, paving way for the emergence of the modern flavor industry.
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A research report by Global Market Insights Inc., predicts that the global aroma chemicals market is anticipated to be valued at USD 7.5 billion by 2026 end, given its massive applications in F&B, cosmetics, household, toiletries, and several other sectors. Moreover, it is expected that the enormous expansion of food and beverage industry globally would prove to be remunerative for the aroma chemicals market over the next few years.
Aroma chemicals| Applications in food and beverages industry
A food or beverage is combination of both flavor and aroma that are inseparably tied together, making the ability to distinguish and detect particular flavor and aroma components crucial to sensory analysis.
Key odorants have been deemed as one of the most important types of aroma chemicals that induce characteristic aroma to a particular food. Aroma chemicals play a pivotal role in the production of flavorants, that are used in abundance in the food service industry to enhance the appeal of their products.
Although aroma chemicals are massively being used across the globe, the safety pertaining to its consumption is still being questioned. However, according to numerous reports, the U.S Food and Drug Administration has certified aroma chemicals as GRAS (Generally Recognized As Safe) prior to its consumption by the public, i.e., any aroma chemical that a flavorist wants to add must initially be certified by the FDA and then used accordingly.
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Unveiling competitive trends across aroma chemicals market
Let alone food industry, aroma chemicals are also extensively being used in cosmetics and personal care applications. Companies operating in these business spaces have been engaging in M&As, and new product launches while scoring a competitive edge over the market rivals.
A vital testament for the above mentioned stated is provided by Fairfax India’s acquisition of 51 per cent stake of Privi Organics. According to official sources, Fairfax India Holdings Corp. on July 2016 announced taking over 51 per cent stake in Privi Organics for a financial amount of about 370 crore rupees. Besides, Fairfax owns nearly 49 per cent of the merged business and is renamed as Fairchem Speciality Ltd.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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