Aroma Chemicals Market Analysis, Future Trends 2028
The global aroma chemicals
market size is projected to reach USD 6,968.3 million by
2028. As the demand for natural ingredients is increasing, various
manufacturers are trying to create novel technologies to prevent environmental
damage or pollution. For instance, Privi Speciality Chemicals Limited utilizes
agrochemicals from by-products and high-value aroma chemicals from Crude
Sulphate Turpentine (CST) to improve eco-friendly operations and reduce
Business Insights™ published this information in a new
study, titled, “Aroma
Chemicals Market, 2021-2028.” As per the study, the market
stood at USD
4,976.0 million in 2020. It is set to exhibit a CAGR
of 4.5% during
the forecast period “between” 2021 to 2028.
Drivers & Restraints-
Rising Need to Maintain Formulations and Quality of Products to Aid Growth
Aroma chemicals are extensively used in toiletries and cosmetics, such as hand washes, lipsticks, gels, shampoos, body lotions, aftershaves, moisturizers, soaps, and others. Manufacturers are striving persistently to maintain the quality and formulations of these products by inducing natural scents. Hence, they are inclining rapidly towards organic ingredients.
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Fine Fragrances Segment to Dominate Stoked by Rising Technological Advancements
By source, the market is categorized into synthetic and natural. Based on the product, it is divided into terpenes/terpenoids, benzenoids, musk chemicals, and others. Lastly, by applications, it is fragmented into food & beverages, fine fragrances, cosmetics & toiletries, soaps & detergents, and others. Out of these, the fine fragrances earned 53.18% and 51.62% in terms of the aroma chemicals market share globally and in the U.S. in 2020. This segment is anticipated to remain at the forefront because of the ongoing technological advancements in this field.
A list of reputed manufacturers present in the global market:
- Privi Speciality Chemicals Limited (Navi Mumbai, India)
- BORDAS S.A. (Sevilla, Spain)
- BASF SE (Ludwigshafen, Germany)
- DSM (Heerlen, Netherlands)
- Hindustan Mint & Agro Products Pvt. Ltd. (Uttar Pradesh, India)
- International Flavors & Fragrances Inc. (New York, the U.S.)
- Kao Chemicals Europe (Barcelona, Spain)
- Symrise (Holzminden, Germany)
- Givaudan (Vernier, Switzerland)
- Solvay (Brussels, Belgium)
- Takasago International Corporation (Tokyo, Japan)
- Keva (Mumbai, India)
- Eternis Fine Chemicals Ltd. (Mumbai, India)
- Other Key Players
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