Aroma Ingredients Market To Increase at Steady Growth Rate 2018-2026: BASF SE, Mane SA, Givaudan SA, Fermenich International SA, and International Flavors & Fragrances Inc., Bell Flavors and Fragrances, Givaudan, Kao Corporation, S H Kelkar and Company Li

Aroma ingredients are the basic substances used to make fragrance material for its anti-malodorous, smell enhancing, and blending properties. Aromatic ingredients can be obtained from physical operations of natural or synthetic/unnatural raw materials. On the basis of that it is segmented as synthetic and natural aroma ingredients. Aroma ingredients plays a predominant role developing additives or essence, which are used in food, cosmetic, and personal care industries, to improve quality of the products in terms of favor and essence.

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Key Players in the Global Aroma Ingredients Market:-

Major players in the global aroma ingredients market are BASF SE, Mane SA, Givaudan SA, Fermenich International SA, and International Flavors & Fragrances Inc., Bell Flavors and Fragrances, Givaudan, Kao Corporation, S H Kelkar and Company Limited, Symrise, Takasago International Corporation etc.

Market Dynamics:-

The major drivers for growth of the aroma ingredients market include growing global fragrance industry as aroma ingredients play primary role in the making of fragranced products such as perfumes, air fresheners, toiletries including deodorants, scented candles etc. For instance, according to International Fragrance Association, the global flavors and fragrance market was valued at US$ 29.0 billion in 2015, which is expected to reach US$ 70 billion by 2022, increasing at a CAGR of 6.2% during the forecast period.
Aroma ingredients are an important constituent of perfume. Global perfume market is growing due to rising trend of personal grooming especially in youth, increasing disposable income, and improving standards of living, which in turn promote growth aroma ingredients market. For instance, according Organization of Personal Care Council, in 2016 global beauty and personal care market was valued at US$ 444 billion and it is expected to reach to US$ 716.6 billion by 2025.
Market Outlook:-

On the basis of product type, cosmetic segment is expected to gain major traction in the aroma ingredients market due its significant use in the making of cosmetic products. Likewise floral, fruity, fantasy etc. fragrance work well on personal care categories such as lipstick, body lotion, face wash etc. For instance, according to European Commission, Directorate General for Enterprise and Industry 2007 report, EU is one of the region, which dominates the cosmetic market in the world, and was valued roughly at US$ 71.56 billion with five major countries (the U.K., Germany, Italy, France and Spain) valuing around 70% of the total market at retail sales prices. The economies with highest per capita spending on cosmetic products were Denmark and Sweden (US$ 194.38), Spain (US$ 192.11), France (US$ 188.70), thereby, increasing the market demand for aroma ingredients.

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Market Taxonomy:-

On the basis of product type, the global aroma ingredients market is segmented into:

Synthetic Ingredients
Natural Ingredients

On the basis of application, the global aroma ingredients market is segmented into:

Fine Fragrances
Home care
Personal Care
Pet Care
Food & Beverages
Others

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