Aroma Chemicals Industry 2019
Aroma Chemicals are nothing but synthetic aromas. All the perfumes available in the market are made up of aroma chemicals. These days, the demand for aroma is increasing in the global level due to consumer preference, improved lifestyle, demand for personal-care products and food-beverages and the increasing rural market. The increasing demand for natural aroma, advanced technology, and the emergence of varieties of application are the key factors for the increase in demand. The experts are predicting that the increase in the population of the end-user community will be the driving force to move forward.
The exploration of industries like pharmaceuticals, paints, food, coatings, beverages, rubber, and cosmetics are helping the aroma Chemicals to grow. The soaps and detergent sector accounts the largest share of the market as aroma Chemicals is a necessity in the manufacturing of these products. As shops and detergents are the daily necessities of the common people, the demand for these products will always remain high and so is for their raw materials.
Global Aroma Chemicals Market was valued US$ 3.89 Bn in 2017 and expected to grow at a CAGR of 6.5 % to reach US$ 6.45 Bn by 2026.
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Market Segmentation of Global Aroma Chemicals Market
The market has segmented into by Composition, by Application, and by Region. By Composition, the market can be segmented into Aromatic, Esters, Terpenes, and Amines. By Application, the market can be divided into Cosmetics and Toiletries, Soap and Detergents, Home Care Products, Food and Beverages, Fragrances and Others.
Geographical Segmentation of Global Aroma Chemicals Market
The region-wise segmentation of Aroma Chemicals industry includes regions like Europe, the Middle East and Africa, South America, North America and the Asia Pacific.
Some of the focused countries are the UK, Germany, China, Saudi Arabia, U.A.E., Canada, France, the USA, Japan, India, Brazil, Mexico, Italy, Russia, Indonesia, South Africa, Spain, and Argentina.
The USA contributed 33% while Europe represents 30% of the market. Japan is emerging as a surprise country, contributing 12%. Thanks to the high domestic consumption of aroma chemical in India, the Indo-Pacific region contributes to the largest market share.
Big Market Players in Global Aroma Chemicals Market
The big market players in the global Aroma Chemicals industry are Vigon International, SH Kelkar and Company Limited, YingYang Aroma Chemical Group, Takasago International Corporation, China Flavors and Fragrances, Treatt, International Flavors and Fragrances Inc, Symrise, Jiaxing Wintrust Flavours Co., Givaudan Ltd, Kerry Group, Sensient Technologies, Kao Corporation and Bell Flavors and Fragrances.
Current News from the Industry
In a recent development, a Netherland based company IMCD N.V., which is a leading distributor of chemicals and other food ingredients in Netherland acquired 100% shares of two India based companies Alchemie Agencies Pvt. Ltd. And Aroma Chemical Agency Pvt. Ltd.
IMCD N.V. merged the two companies into one and named it AROMA. The headquarter of Aroma situated in Mumbai and having a chain of offices in different parts of the country.
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