Aroma Chemicals Market 2019:Quantitative Analysis By Hindustan Mint & Agro Products Pvt Ltd, Veera Fragrances P.Ltd, PFW Aroma Chemicals B.V, YingYang (China) Aroma Chemical Group & Others
Global aroma chemicals market is expected to rise to an estimated value of USD 6.5 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. The high growth of this market is due to the increasing expenditure on beauty and personal care products in developed countries such as China, and U.S
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Key Market Competitors:
Few of the major competitors currently working in the global aroma chemicals market are S H Kelkar and Company, Givaudan, KAO CHEMICALS EUROPE, S.L, Symrise, BASF SE, Takasago International Corporation, Agilex Fragrances, AromaTech International, Bell Flavors & Fragrances, Kalpsutra Chemicals Pvt Ltd, Silverline Chemicals, Hindustan Mint & Agro Products Pvt Ltd, Veera Fragrances P.Ltd, PFW Aroma Chemicals B.V, YingYang (China) Aroma Chemical Group , Jiaxing WinTrust Flavours Co., Ltd., T.Hasegawa Inc., Vigon International, Inc., Solvay among others.
Global aroma chemicals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of aroma chemicals market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Growing need for effective health additives can act as a driver for the growth of this market
Growing demand of aroma chemicals in foods and beverages will also drive the growth of the market
Growing awareness among consumers towards hygiene propels the market growth
Growing expenditure on beauty and personal care products will also impede the market growth
High cost of aroma products can hamper the market growth
Volatility in raw material cost can act as a factor is restricting the growth of this market
High cost incurred in the research and development process can also act as market growth barrier
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Segmentation: Global Aroma Chemicals Market
Soap & Detergents
Cosmetics & Toiletries
Food & Beverage
Middle East and Africa
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Key Developments in the Market:
In November 2018, IMCD, a leading distributor of food ingredient and speciality chemicals acquired Aroma Chemical Agencies Pvt. Ltd. and Alchemie Agencies Pvt. Ltd. The main aim behind this acquisition is to expand their product portfolio in coatings, plastics and other specialty chemical industries in order to gain high profit from it, which will further lead in the upliftment of the global aroma chemicals market
In January 2018, SH Kelkar & Company Ltd acquired an Italian fragrance firm Creative Flavours and Fragrances. The main aim of this acquisition is to expand their international footprint and further emerge as one of the top 15 global players in the market which will ultimately boost the market growth
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
Data Bridge Market Research
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