Global Aroma Chemicals Market - Segmented by Type, Structure, Application and Geography – Trends and Forecasts (2017 - 2022)
The market has been valued at USD XX billion in 2016 and is expected to reach USD XX billion by 2022, growing at a CAGR of 5.62% during the forecast period, 2017-2022.
Chemicals that have an odor or smell are known as aroma chemicals. These compounds are also known as aromas, flavors, fragrances, or odorants. They have their use in myriad applications like cosmetics, soaps, detergents, beverages, food products and other household products. They are also used in odorless gases, which can be detected when there are leakages. They are used in food products to enhance the flavor, thus, increasing the demand for the products.
The aroma chemicals market is driven by high-demand in the end-user industries, coupled with changing preferences of consumers from toxic chemical products to natural products. The major restraint is the high-costs of research and development programs. Owning to changing consumer preferences, manufacturers are investing more in R&D facilities as they are under pressure to develop innovative solutions to meet the customer demand.
Aroma chemicals are segmented by type into natural and synthetic. Natural aroma chemicals are extracted from natural sources like plants with the help of processes such as distillation and extraction. Whereas, synthetic aroma chemicals are made from synthetic aromatic raw materials. Aroma chemicals are also categorized by structure into aromatics, esters, amines, cyclic terpenes and linear terpenes. Depending on the application, they are used in different products like soaps and detergents, cosmetics and toiletries, fine fragrances, household products and food.
The market has been geographically segmented into North America, Asia-Pacific, Europe, South America and the Rest of the World. Asia-Pacific and South America are anticipated to experience high growth rates in the aroma chemicals market due to the economic growth in these regions. In Europe, the use of products containing natural ingredients that are free of toxic chemicals has increased the demand for natural aroma products.
Opportunities and Major Players
Advancements in technology and the merging of manufacturers, globally, are likely to be opportunities for the aroma chemicals market. Globally, there are around XX suppliers competing in the sector, with the top 10 suppliers accounting for almost XX% of the overall market.
Some of the major companies in the aroma chemicals market are:
YingYang (China) Aroma Chemical Group
Key Deliverables in the Study
Market analysis for the global aroma chemicals market, with region-specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global aroma chemicals market on both, global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.
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