Aroma Chemicals Market Sales to Top US$ 8.11 Billion by 2032; Synthetic Segment to Enhance Growth Prospects | Fact.MR

The Aroma Chemicals market reached a valuation of US$ 5.21 Billion in 2022. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a 4.7% CAGR, reaching US$ 8.11 Billion. Increased use of flavors and fragrance products in the food and beverage, cosmetics and toiletries, and soaps and detergents industries is credited with driving the expansion of the aroma chemicals market.

Due to their expanding application potential in important end-use industries like dairy, soaps and detergents, fine fragrances, processed food, bakery foods, and confectioneries, aroma chemicals are in higher demand. The main factors propelling the industry’s growth include rising demand for beverages with fewer calories and expansion of the beverage market.

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Aroma Chemicals Market Scope:

Since flavors play a significant role in how edible products taste, aroma chemicals are used to enhance the flavor of beverages and processed foods. The rise of natural aroma chemicals is being fueled by the rising demand for healthy and wellness food products, regulation, as well as the ban on the use of some synthetic flavors. The main factors influencing market growth are the suitability of natural flavours in a wider range of applications, additional health advantages of specific natural flavours, and cutting-edge technological innovation.

Additionally, manufacturers are adopting and developing new extracting technologies that are cleaner and less damaging to the environment. Privi Speciality Chemicals Limited, for instance, aims to reduce emissions, improve eco-friendly operations, and recycle waste through its manufacturing processes. The company uses high-value chemicals of aroma from Crude Sulphate Turpentine (CST) and agrochemicals from by-products, thus reducing the waste and enhancing profits.

Key Takeaways from the Market Study

• According to Fact.MR, a CAGR of 1% was recorded for the Aroma Chemicals market from 2017-2022
• In FY 2022, the Aroma Chemicals market reached a valuation of US$ 5.21 Billion
• The market is likely to register a Y-o-Y growth rate of 1.0% in 2023
• By Source, the Synthetic Aroma Chemicals Segment is expected to dominate the market, documenting a 4.6% value CAGR
• As per Fact.MR’s projections, the market for Aroma Chemicals in Asia Pacific will likely expand at a 6.1% CAGR
• The Aroma Chemicals market in North America is expected to expand at a 5.6% CAGR

“The growing demand for Aroma Chemicals in the food & beverages industry for enhancing the taste is one of the major factors that is expected to fuel the demand for aroma chemicals during the forecast period,” comments an analyst at Fact.MR.

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 Competitive Landscape

Prominent players in the Aroma Chemicals Industry are taking advantage of the rapidly increasing demand for the Aroma Chemicals in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale players. Some prominent market developments are as follows:

• In December 2021, Firmenich SA announced the commissioning of a new production unit for renewable ingredients at its facility located in Castets, France. The new production plant was expected to be operational from January 2022.
• In June 2020, Givaudan launched VivaScentz™, a leading-edge fragrance innovation to enhance consumer well-being with offering benefits across all categories of perfume including fine fragrance, personal, home, and fabric care as well as oral care flavours. This new technology, at the forefront of the fragrance industry, aims to help consumers achieve a holistic sense of wellbeing.

Prominent Players in The Global Market

• Kelkar Group
• BASF SE
• Hindustan Mint and Agro Products
• Solvay
• Symrise AG
• Robertet
• Kao Corporation,
• Privi Organics Ltd.
• Kalpa Sutra Chemicals,
• Bell Flavors & Fragrances

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global Aroma Chemicals market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of application (soaps & detergents, cosmetics & toiletries, and food & beverages ingredients), by compound (alcohol-based aroma chemicals, acids-based aroma chemicals, esters-based aroma chemicals, aldehydes–based aroma chemicals, ketones-based aroma chemicals, and hydrocarbons-based aroma chemicals), by source (natural aroma chemicals, and synthetic aroma chemicals), by type (benzenoids-based aroma chemicals, musk aroma chemicals, and terpenoids-based aroma chemicals), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

Key Segments Covered in the Industry Survey

• B Application:

• • Soaps & Detergents
  • Cosmetics & Toiletries
  • Food & Beverages Ingredients

• By Compound:

• • Alcohol-based
    • Saturated Alkyl-Alcohol
    • Unsaturated Alkyl-Alcohol
    • Complex Fragrance Alcohol
    • Aromatic and Aralkyl Alcohol
    • Phenolic
  • Acids-based
    • Saturated Aliphatic Acid
    • Unsaturated Aliphatic Acid
    • Aromatic Acid
  • Esters-based
    • Saturated Esters
    • Unsaturated Esters
    • Aromatic Esters
    • Lactones- Gamma and Delta
    • Synthesis of Ester
  • Aldehydes–based Aroma Chemicals
    • Aliphatic Aldehyde
    • Unsaturated Aldehyde
    • Acetals
    • Aromatics
    • Nitriles
  • Ketones-based
  • Hydrocarbons-based

• By Source:

• • Natural Aroma Chemicals
  • Synthetic Aroma Chemicals

• By Type:

• • Benzenoids-based
  • Musk
  • Terpenoids-based

• By Region:

• • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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