The aroma chemicals market (芳香化学品市場) reached a valuation of US$ 5.11 billion by 2021 and is projected to grow at a year-on-year (Y-o-Y) rate of 1.0% in 2022, closing at US$ 5.21 billion. Over the period from 2022 to 2032, the market is expected to accelerate its growth, reaching US$ 8.11 billion with a compound annual growth rate (CAGR) of 4.7%.

The global aroma chemicals market is experiencing significant growth and is expected to continue expanding in the coming years. Aroma chemicals are synthetic or natural compounds used to impart desired fragrance to various products, including perfumes, cosmetics, soaps, detergents, and candles. The market is driven by the growing demand for personal care and home care products, as well as the increasing preference for natural and sustainable ingredients.

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Market Dynamics

One of the key drivers of the aroma chemicals market (marché des produits chimiques aromatiques) is the rising demand for fragrances in the personal care industry. With increasing disposable income and a growing focus on personal grooming, the demand for perfumes, deodorants, and other personal care products is on the rise. Aroma chemicals play a crucial role in enhancing the fragrance of these products, thereby driving market growth.

Another factor driving the market is the growing demand for natural and organic aroma chemicals. Consumers are becoming more conscious about the ingredients used in the products they use, leading to a shift towards natural and sustainable alternatives. This trend is expected to drive the demand for natural aroma chemicals in the coming years.

However, the market faces challenges such as stringent regulations regarding the use of certain chemicals, as well as the high cost of natural aroma chemicals compared to synthetic ones. Companies in the market are focusing on research and development to develop innovative and cost-effective solutions to overcome these challenges.

Market Future Outlook

The aroma chemicals market (아로마 화학제품 시장) is expected to witness significant growth in the coming years, driven by the increasing demand for fragrances in various end-use industries. The market is also likely to benefit from the growing popularity of organic and natural products, as well as the rising disposable income in emerging economies.

Market Insights

Based on type, the aroma chemicals market can be segmented into synthetic and natural aroma chemicals. Synthetic aroma chemicals are widely used due to their cost-effectiveness and consistent quality. However, natural aroma chemicals are gaining popularity due to their perceived health and environmental benefits.

On the basis of application, the market can be segmented into fine fragrances, personal care products, household products, and others. The personal care products segment is expected to dominate the market, driven by the increasing demand for perfumes, deodorants, and other personal care items.

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Key Players

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

Competitive Landscape

Key players in the aroma chemicals industry are leveraging the growing demand for aroma chemicals across various applications. To expand their market reach, these players are focusing on collaborations, partnerships, and acquisitions with small, medium, and large-scale vendors. Some notable market developments include:

In December 2021, Firmenich SA announced the inauguration of a new production unit for renewable ingredients at its Castets facility in France. The new plant was scheduled to start operations in January 2022.

In June 2020, Givaudan introduced VivaScentz™, an innovative fragrance technology aimed at enhancing consumer well-being. This technology offers benefits across various perfume categories, including fine fragrance, personal care, home and fabric care, as well as oral care flavors.

In June 2020, BASF acquired Isobionics, a biotech company, to establish its own distillation plant for the production of new flavors and fragrances. The plant is planned to be located at the Brightlands Chemelot Campus in Geleen, the Netherlands. This strategic move aims to create new opportunities for market growth by enabling the company to produce and develop new fragrances in-house.

Key Segments Covered in the Industry Survey

• By Application:
• Soaps & Detergents
• Cosmetics & Toiletries
• Food & Beverages Ingredients
• By Compound:
• Alcohol-based 
• Acids-based 
• Esters-based 
• Aldehydes–based Aroma Chemicals
• 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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