Global Aroma Chemicals Market Estimated to Reach US$ 6,574.0 Mn by 2024: Transparency Market Research

Transparency Market Research has published a new report titled “Aroma Chemicals Market by Type (Natural and Synthetic), Product (Terpenoids, Benzenoids, Musk Chemicals for Personal Care, Household Care and Others (Medical, Food & Beverages) Applications – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024” According to the report, the global aroma chemicals market was valued at US$ 3,858.8 Mn in 2015 and is anticipated to reach US$ 6,574.0 Mn by 2024, expanding at a CAGR of 6.2% between 2016 and 2024.

The subtleties of aroma chemicals market is prominently region specific and illustrate peculiar trends in different regions. Europe held significant share of the global aroma chemicals market in 2015. Expansion of the numerous end user industries of aroma chemicals such as cosmetics, toiletries, laundry etc. is the key factor propelling the growth of this market. Europe was followed by North America and Asia Pacific. North America along with Asia Pacific accounted for more than 50% of the global aroma chemicals market in 2015. In terms of personal care segment demand was particularly high for cosmetics & toiletries applications. Increasing disposable income along with growing consciousness for personal hygiene among consumers are the factors driving the cosmetics & toiletries industry across the globe.

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Geographically, Europe held dominating share of the global aroma chemicals market in 2015. The market is expected to witness steady growth during the forecast period owing to the growth of fragrance industry in this region. Presence of large manufacturers of aroma chemicals such as Givaudan, Firmenich SA, Symrise, BASF SE, Solvay, Robertet SA, and numerous small players are estimated to boost the market in Europe. The market for aroma chemicals market in North America is robust owing to the high disposable income of the people.

Availability of raw materials required for the production of both natural and synthetic aroma chemicals is the factor that is primarily driving the market in North America. Production facilities of major aroma chemicals companies such as International Flavors & Fragrances and Sensient Flavors and Fragrances is the factor propelling the growth of aroma chemicals in this region. Asia Pacific accounted for promising share of the global aroma chemicals market in 2015 and is anticipated to offer lucrative opportunities during the forecast period. Availability of raw materials coupled with cheap labor are the factors that is causing major players operating in aroma chemicals to shift their production bases in Asia Pacific.

Ascending disposable income of consumer in developing economies such as India and China is fueling the aroma chemicals market in this region. Latin America is foreboded to offer high growth owing to the rapid industrial development that will create lucrative opportunities for aroma chemicals in the region. Middle East & Africa (MEA) accounted for small share of the global aroma chemicals market in 2015 and is anticipated to witness sluggish growth during the forecast period.

The aroma chemicals market has been divided into the following segments:

Aroma Chemicals Market – Type Analysis

  • Natural
  • Synthetic

Aroma Chemicals Market – Product Analysis

  • Terpenoids
  • Benzenoids
  • Musk Chemicals
  • Others (include Aldehydes, Ketones, Esters, etc.)

Aroma Chemicals Market – Application Analysis

  • Personal care
    • Fine Fragrances
    • Cosmetics & Toiletries
  • Household Care
    • Laundry
    • Dishwashing
    • Others (include Mosquito Repellant, Candles, etc.)
  • Others (include Food & Beverages, Medical, Others )

Aroma Chemicals Market – Regional Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific (APAC)
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America (LATAM)
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa (MEA)

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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