SAN FRANCISCO, Sept. 14, 2020 /PRNewswire/ -- The global aroma chemicals market size is expected to reach USD 8.2 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.8% from 2020 to 2027. The rapid expansion of the food and beverage industries and increasing consumer disposable income are expected to contribute to the demand for fragrances and flavors produced using aroma chemicals
Synthetic aroma chemicals provide variety for a wide range of flavors as well as fragrances. Owing to increasing consumer preferences for cosmetic products, these products are used to create various innovative and unique fragrances by the key players in the market. Exposure to international brands and consumer willingness to spend on these brands have led to the growth of the cosmetics market, which, in turn, is driving the consumption of these formulations in cosmetics.
Key suggestions from the report:
- Changing consumer lifestyle, along with consumer expenditure, is driving the demand for exotic flavors in the food and beverage industry, which, in turn, is anticipated to drive the market over the forecast period
- By source, synthetic aroma chemicals are being preferred over natural chemicals in several end-use industries, including cosmetics and personal care, owing to low cost and less exposure to allergies
- Favorable technological advancements are significantly contributing to the overall product demand by continuously enhancing both the chemical and microbiological qualities of the product.
Read 100 page research report with ToC on "Aroma Chemicals Market Size, Share & Trends Analysis Report By Source (Natural, Synthetic), By Chemical (Terpenes & Terpenoids, Benzenoids, Musk Chemicals), By Application (Flavors, Fragrances), And Segment Forecasts, 2020 - 2027' at: https://www.grandviewresearch.com/industry-analysis/aroma-chemicals-market
Demand for synthetic aroma chemicals is expected to witness an upsurge from the fragrances industry as they offer greater freedom of creativity to manufacturers, are long-lasting, and emit strong fragrance. Moreover, synthetic chemicals are comparatively less expensive than naturally sourced aroma chemicals.
Natural aroma chemicals are most widely used for the production of organic personal care and cosmetic products, which ultimately reduces the risk of harmful and artificial chemicals. Additionally, these natural aroma chemicals provide safety and therapeutic benefits to the consumers.
Most key companies are vertically integrated and they produce products that cater to various applications. Moreover, these players have integrated their production and distribution channels for better market accessibility.
Regulations related to aroma chemicals are not stringent, which proves to be beneficial for manufacturers. However, they have to abide by guidelines and regulations, published by regulatory authorities, such as the World Health Organization, European Food Safety Authority, U.S. Department of Agriculture (USDA), U.S. Food & Drug Administration (FDA), and Health Canada.
Grand View Research has segmented the global aroma chemicals market on the basis of source, chemical, application, and region:
- Aroma Chemicals Source Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Natural
- Synthetic
- Aroma Chemicals Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Terpenes & Terpenoids
- Benzenoids
- Musk Chemicals
- Others
- Aroma Chemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Flavors
- Confectionary
- Convenience Food
- Bakery Food
- Dairy Products
- Beverages
- Others
- Fragrances
- Fine Fragrances
- Cosmetics and Toiletries
- Soaps and Detergents
- Others
- Aroma Chemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
List of Key Players of Aroma Chemicals Market
- BASF SE
- Bell Flavors & Fragrances
- Givaudan
- Kao Corporation
- Symrise
- Takasago International Corporation
Find more research reports on Personal Care & Cosmetics Industry, by Grand View Research:
- Aromatherapy Market - Global aromatherapy market size was valued at USD 1.37 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 2020 to 2029.
- Aromatherapy Diffusers Market - Global aromatherapy diffusers market size was estimated at USD 1.59 billion in 2019 and is expected to register a revenue-based CAGR of 9.2% over the forecast period.
- Jojoba Oil Market - Global jojoba oil market size was valued at USD 133.2 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2020 to 2027.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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