Aroma Chemicals Market to hit USD 7.5 Bn by 2026 | Key Players are BASF, Kao Corporation, MANE, Robertet, SymriseAG, Solvay, Givaudan

As per Global Market Insights, Inc., report, Aroma chemicals market recorded a valuation of USD 5.10 billion in 2019 and is estimated to reach USD 7.5 billion by 2026, increasing at an anticipated CAGR of 6% over 2020-2026. Additionally, the document also includes pivotal information on the current market scenario, advancing technologies, expansive competitive landscape, industry strategies, growth prospects, and market segmentation.

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Aroma chemicals market is currently moving at a tremendous pace with focused approach of the industry players to sustain in the competitive scenario. The expansive use of these chemicals in food and beverages and various cosmetics and personal care products is majorly influencing the market growth phenomenally.

Aroma chemicals have been become a highly sought-after compound in the production of flavorant that is used in the food and beverage industry to boost and enhance the appeal of the products. As such, demand for aroma chemicals in essential oils, fragrance oils, food, wine and spices has become more pronounced in recent years. Accordingly, use of aroma compounds such as esters, ketones, amines and aldehydes has surged in food and beverage products, thereby fueling growth in the aroma chemicals market.

Major key players in the aroma chemicals market are BASF SE, Fairchem Speciality Ltd, International Flavors & Fragrances Inc., Hindustan mint & agro products pvt. ltd., Kao Corporation, PFW Aroma Chemicals (Kelkar Group), Privi Organics India Limited, MANE, Robertet, S H Kelkar And Company, SymriseAG, Solvay, Takasago International Corporation, Givaudan.

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A research report by Global Market Insights, Inc., predicts that the global aroma chemicals market is predicted to grow significantly in the coming year. end, given its massive applications in F&B, cosmetics, household, toiletries, and several other sectors. Moreover, it is expected that the enormous expansion of food and beverage industry globally would prove to be remunerative for the aroma chemicals market over the next few years.

Forward-looking companies are eyeing to inject funds in South American countries such as Brazil where availability of cheap labor and low cost of raw materials have instilled confidence among stakeholders. Global Market Insights, Inc., projects Latin America aroma chemicals market to grow steadily at a compound annual growth rate of over 4% through 2026.

Prominent companies envisage Asia Pacific as an investment hub as they look for product launches and mergers & acquisitions. Emerging economies such as India and China are witnessing traction for food and beverage industry and cosmetics, thereby showcasing positive business outlook in aroma chemicals market.

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