Aroma Chemical Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Aroma Chemical Market Trends and Forecast

The future of the aroma chemical market looks promising with opportunities in the flavor and fragrance applications. The global aroma chemical market is expected to reach an estimated $7.3 billion by 2028 with a CAGR of 5.1% from 2023 to 2028. The major drivers for this market are huge requirement for flavor in edible products, increasing inclination towards natural and bio-based chemicals, and growing application of flavors & fragrance in various end use industry products, such as cosmetics & toiletries, soaps & detergents, and food & beverages.

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Aroma Chemical Market by Segment

The study includes a forecast for the global aroma chemical market by source, chemical, application, and region, as follows:

Aroma Chemical Market by Source [Value ($B) Shipment Analysis from 2017 to 2028]:

• Natural
• Synthetic
• Natural-Identical

Aroma Chemical Market by Chemical [Value ($B) Shipment Analysis from 2017 to 2028]:

• Benzenoids
• Musk Chemicals
• Terpenes & Terpenoids
• Others

Aroma Chemical Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Flavors
  • Confectionery
  • Convenience Food
  • Bakery Food
  • Dairy Products
  • Beverages
  • Others
• Fragrance
  • Fine Fragrance
  • Cosmetics and Toiletries
  • Soaps and Detergents
  • Others

Aroma Chemical Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Aroma Chemical Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies aroma chemical companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the aroma chemical companies profiled in this report include.

• BASF SE
• Privi Organics
• Takasago International
• Kao
• Bell Flowers & Fragrances

Aroma Chemical Market Insights

• Lucintel forecasts that synthetic will remain the largest segment over the forecast period due to the considerable usage of synthetic aromas in a variety of products, including cosmetics, personal care items, and food and beverages because they are readily available and produced at a low cost.
• Fragrance is expected to witness highest growth over the forecast period due to the increasing use of aromatic chemicals to produce sophisticated fragrance that can be both light and powerful in nature.
• APAC will remain the largest region due to the growing food and beverage industry and extensive demand for satisfying fragrances and flavors in developing countries like India.

Features of the Aroma Chemical Market

• Market Size Estimates: Aroma chemical market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Aroma chemical market size by various segments, such as by source, chemical, application, and region
• Regional Analysis: Aroma chemical market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by source, chemical, application, and regions for the aroma chemical market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the aroma chemical market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the aroma chemical market size?

Answer: The global aroma chemical market is expected to reach an estimated $7.3 billion by 2028.

Q2. What is the growth forecast for aroma chemical market?

Answer: The global aroma chemical market is expected to grow with a CAGR of 5.1% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the aroma chemical market?

Answer: The major drivers for this market are huge requirement for flavor in edible products, increasing inclination towards natural and bio-based chemicals, and growing application of flavors & fragrance in various end use industry products, such as cosmetics & toiletries, soaps & detergents, and food & beverages.

Q4. What are the major segments for aroma chemical market?

Answer: The future of the aroma chemical market looks promising with opportunities in the flavor and fragrance applications.

Q5. Who are the key aroma chemical companies?

Answer: Some of the key aroma chemical companies are as follows:

• BASF SE
• Privi Organics
• Takasago International
• Kao
• Bell Flowers & Fragrances

Q6. Which aroma chemical segment will be the largest in future?

Answer: Lucintel forecasts that synthetic will remain the largest segment over the forecast period due to the considerable usage of synthetic aromas in a variety of products, including cosmetics, personal care items, and food and beverages because they are readily available and produced at a low cost.

Q7. In aroma chemical market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to the growing food and beverage industry and extensive demand for satisfying fragrances and flavors in developing countries like India.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the aroma chemical market by source (natural, synthetic, and natural-identical), chemical (benzenoids, musk chemicals, terpenes & terpenoids, and others), application (flavors and fragrance), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?