Fact.MR's latest research study conducted on thearoma chemicals market propounds critical trends influencing growth of the market along with several macro-economic indicators. The study explicates on vital dynamics, such as the opportunities, drivers, and restraints affecting the demand outlook for aroma chemicals market in terms of source, chemical type and application
NEW YORK, Sept. 17, 2021 /PRNewswire/ -- As per in-depth analysis by Fact.MR, the global aroma chemicals market is anticipated to exhibit steady growth during the forecast year from 2021 to 2031. Increasing application of aroma chemicals across fragrance, cosmetics, and food & beverage industry is estimated to drive the growth of aroma chemicals market.
In recent years, a rapid shift in consumer preference from using synthetic aroma chemicals to natural ones is witnessed, due to its healing attributes such as energy enhancing, mood lifting, calming, and relaxing. On account to this, leading players are initiating new product launches, capacity expansions, and strategic alliances to meet the increasing demand for natural aroma chemicals.
For instance, in September 2019, BASF, the German multinational chemical company, announced acquiring Isobionics, a leading biotechnology firm focus aroma chemicals, and entering into a partnership with Conagen, a leading biotechnology research firm. The strategy will assist the company to broaden its natural flavors and fragrance ingredients portfolio. These developments in the landscape is expected to propel the demand for natural aroma chemicals.
Aroma chemicals are extensively used in personal care and cosmetic products, such as facemasks, creams, body lotions, aftershaves, soaps, and shampoos others. Thus, the increase in per capita disposable income and rise in standard of living of the population is augmenting the demand for aforementioned products, in turn, spurring the sales of aroma chemicals.
"Growing trend of aromatherapy for maintaining psychological and emotional wellbeing and increasing adoption of naturally sourced aroma chemical in food and cosmetics products are estimated to facilitate the market growth in the coming years," says a Fact.MR analyst.
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Leading companies in the landscape are focusing on development of novel products, expansion, and investments to expand its products portfolio. Some of the players are adopting expansion strategies such as acquisition, collaboration, merger, and partnership with other players to increasing the market revenue share. For instance,
In July 2021, P2 Science, Inc., an innovative green chemistry company, announced launching new herbal aroma chemical named, Herbenone. The product is made using natural herbs and flowers such as fresh basil, anise, and jasmine and can be used all types of cosmetics and personal care products.
In May 2021, Azelis, a leading global innovation service provider for the specialty chemicals and food ingredients industry, announced acquiring, an American specialty manufacturers and supplier of ingredients for fragrances, flavor, and cosmetics. The acquisition will assist the company to strengthen its footprint in America flavor and fragrance market.
Some of the key players in the market profiled by Fact.MR are:
Bell Flavors & Fragrances Inc.
Takasago International Corporation
Yingyang flavors & fragrances group
Fairchem Specialty Limited
Zhejiang Newfine Industry Co. Ltd.
Wild Flavors and Specialty Ingredients Inc.
Sensient Technologies Corporation
Hindustan Mint & Agro Products Pvt. Ltd.
Ungerer & Company, Robertet SA
Bedoukian Research Inc.
Aroma Tech Inc.
Hasegawa Co. Ltd.
Tadimety Aromatics Pvt. Ltd.
Oriental Aromatics Limited,
Dongying Kehong Chemical Co. Ltd.
More Valuable Insights on Aroma ChemicalsMarket
Fact.MR, in its new report, offers an unbiased analysis of the global aroma chemicals market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in aroma chemicals market with detailed segmentation:
By Chemical Type
Food & Beverage
Cosmetics & Personal Care
Soaps & Detergents
Key Questions Covered in the Aroma ChemicalsMarket Report
The market survey also highlights projected sales growth of the aroma chemicals market between 2021 and 2031
The report offers insight into aroma chemicals demand outlook for 2021-2031
Aroma chemicals market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Aroma chemicals market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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