Global Aroma Chemicals Market 2017-2021
About Aroma Chemicals
Aroma chemicals, also called odorants or fragrances, are natural or synthetic compounds that are characterized by their pleasant smell. These compounds are usually obtained from essential oils and the aromatic compounds. They have a molecular weight less than 300 Da and are extremely volatile and tend to vaporize. Aroma chemicals are used in the products to provide a specific fragrance or to mask the smell of the other product ingredients.
Technavio’s analysts forecast the global aroma chemicals market to grow at a CAGR of 5.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global aroma chemicals market for 2017-2021. To calculate the market size, the report considers the sales of different types of aroma chemicals used in soaps and detergents, cosmetics and toiletries, fine fragrances, household products, food and beverages, and other application segments in key regions. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aroma Chemicals Market 2017-2021
Technavio recognizes the following companies as the key players in the global aroma chemicals market: S H Kelkar And Company, Givaudan, Kao Corporation, Symrise, and Takasago International Corporation.
Other Prominent Vendors in the market are: Agilex Flavors & Fragrances, AromaTech International, BASF, Bell Flavors & Fragrances, China Flavors & Fragrances, CPL Aromas, Eternis, Firmenich, Hindustan Mint and Agro Products, ICC Industries, International Flavors & Fragrances, Kalpsutra Chemicals, Robertet, Silverline Chemicals, Solvay, T. Hasegawa, V. MANE FILS SA, Veera Fragrances, and Wangxiang International.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is surge in demand for natural aroma chemicals. Health problems such as allergies, skin problems, migraines, eczema, and carcinogenic effects are on the rise due to the increase in the use of fragrance and aroma products derived from the synthetic sources. Around 90% of the synthetic aroma chemicals are derived from petroleum and natural gas.”
According to the report, one of the major drivers for this market is change in consumer preferences. The study of perception and consumer buying behavior is one the key factor in analyzing the performance and growth perspective of an industry. The consumer behavior indicates how individuals and organization select, use, and dispose the goods or services.
Further, the report states that one of the major factors hindering the growth of this market is high R&D cost. Aroma chemicals are crucial for manufacturing many products. Though the cost of raw materials is high, manufacturers are under pressure to spend more on R&D to improve the products and retain existing customers. Changing consumer preferences is affecting the global aroma chemicals market, which requires manufacturers to develop new and interesting solutions to cater to the customer's needs. The certification process that ensures the quality and safety of the product is also an expensive procedure. Therefore, the high R&D costs involved in the aroma chemicals market is a challenge to the vendors in the market.
S H Kelkar And Company, Givaudan, Kao Corporation, Symrise, Takasago International Corporation, Agilex Flavors & Fragrances, AromaTech International, BASF, Bell Flavors & Fragrances, China Flavors & Fragrances, CPL Aromas, Eternis, Firmenich, Hindustan Mint and Agro Products, ICC Industries, International Flavors & Fragrances, Kalpsutra Chemicals, Robertet, Silverline Chemicals, Solvay, T. Hasegawa, V. MANE FILS SA, Veera Fragrances, Wangxiang International.
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