Aroma Chemicals Market Pegged for Robust Expansion During 2017 - 2025

Aroma Chemicals Market: Drivers and Restraints

Personal expenditure on consumer durables has increased significantly in the last decade. This has increased global spending on beauty and personal care products, medicines, and household care products, which is driving growth of the aroma chemicals market across the globe. Rise in population will also play a key role in increasing demand for essential consumer products, such as cleaning products and cosmetics that use aroma chemicals as ingredients. Growing awareness among consumers towards hygiene is expected to drive growth of the aroma chemicals market in the coming years. Perfumers are looking to create new fragrances with traditionally-used aroma chemical flavours.

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For instance, the use of fruit and chocolate notes in perfumes have opened doors for a new range of consumer products, owing to the growing demand for custom fragrances. Aroma chemical manufactures are looking forward to developing the next generation of speciality flavouring and fragrance ingredients through collaboration with leading academic groups in biochemical sciences and innovation focused local players. End products that use aroma chemicals are price sensitive and fall under a highly competitive marketplace.

Consumer behaviour puts a major restraint on this market, since consumers may shift to substitute products available at less prices. So, aroma chemical providers face the challenge of offering aroma chemicals at the least possible cost, so as to ultimately reduce the cost of end products. Aroma chemicals also need to meet relevant food, health, and safety and quality standards, including ISO 9000, HACCP and Kosher, which may limit introduction of new chemicals in the market.

Aroma Chemicals Market: Region-Wise Outlook

The global aroma chemical market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). APEJ is expected to emerge as a relatively fast growing region among the rest, owing to increasing disposable income, specifically in emerging economies, such as India and China.

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The market for aroma chemicals in Latin America will be led by Brazil. It is projected to grow significantly due to the growing demand for cosmetics, food & beverages, and personal grooming products in the region. However, North America and Europe will hold a major share in the global aroma chemicals market, due to a huge demand for lifestyle products in the region.

Aroma Chemicals Market: Market Participants

Examples of some of the market participants in the global aroma chemicals market identified across the value chain include: S H Kelkar And Company, Givaudan, Kao Corporation, Symrise, BASF, Takasago International Corporation, Agilex Flavors & Fragrances, AromaTech International, Bell Flavors & Fragrances, Kalpsutra Chemicals, Silverline Chemicals, Hindustan Mint and Agro Products, Veera Fragrances.

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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.

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