Global Aroma Chemicals Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
29 May, 2023
The global aroma chemicals market size is expected to grow from $5.41 billion in 2022 to $5.81 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global aroma chemicals market size is expected to reach $7.42 billion in 2027 at a CAGR of 6.3%.
Global Aroma Chemicals Market Key Driver
The rising demand for cosmetics and personal care products is likely to fuel the expansion of the aroma chemicals industry. Cosmetics and personal care goods are chemicals that are applied to the human body in order to clean, enhance, make it more appealing, or generally affect the way it looks. Aroma chemicals are largely utilised in cosmetics and personal care goods to create various sorts of beauty products, flavours, and scents. Consumer demand for cosmetics and personal care items is increasing, which enhances the market for fragrance chemicals.
Get a sample of the global aroma chemicals market reportGlobal Aroma Chemicals Market Segments
The global aroma chemicals market is segmented:
1) By Product: Benzenoids, Terpenoids, Musk Chemicals, Other Products
2) By Source: Natural, Synthetic, Natural-identical
3) By Application: Food And Beverages, Fine Fragrances, Cosmetics And Toiletries, Soaps And Detergents, Other Applications
4) By Geography:The regions covered in the aroma chemicals market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global aroma chemicals market.
Major Aroma Chemicals Industry Players
BASF SE, Solvay S.A., Takasago International Corporation, Kao Corporation, Hindustan Mint And Agro Products Pvt. Ltd., Givaudan, Privi Speciality Chemicals Limited, SymriseAG, Robertet SA, International Flavors And Fragrances Inc., Treatt PLC, Firmenich SA, Bell Flavors & Fragrances, Cedarome Canada Inc., Eternis Fine Chemicals Ltd.
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Aroma Chemicals Market Overview
Aroma chemicals refer to natural or artificial chemical compounds that chemical substances that impart an enticing fragrance and odor. They are frequently very volatile, whose main function is to impart flavor or aroma. Aroma compounds are created in chemical reactors using synthetic starting materials and go through a significant chemical transition.
Aroma Chemicals Global Market Report 2023 provides data on the global aroma chemicals market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aroma chemicals market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.