Aroma Chemicals Market: Moving Towards Brighter Future
Added: (Tue Oct 01 2019)
Aroma compounds are mainly recognised for odorants and for their smell. Aroma chemicals are mainly produced from natural oils and fats. These chemicals have wide applications in manufacturing variety of lifestyle products. There are several properties offered by aroma chemicals including volatility, polarity, stability, and surface activity. Global aroma chemicals market is expected to rise to an estimated value of USD 6.5 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. Top Manufacturers Covered in the Report: H Kelkar and Company, Givaudan, KAO CHEMICALS EUROPE, S.L, Symrise, BASF SE, Takasago International Corporation, Agilex Fragrances, AromaTech International, Bell Flavors & Fragrances, Kalpsutra Chemicals Pvt Ltd, Silverline Chemicals, Hindustan Mint & Agro Products Pvt Ltd, Veera Fragrances P.Ltd, PFW Aroma Chemicals B.V, YingYang (China) Aroma Chemical Group
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Segmentation: Global Aroma Chemicals Market
Global Aroma Chemicals Market By Type (Erpenes, Benzenoids, Musk Chemicals, Others)
Ingredients (Alcohols, Aldehydes, Esters, Ketones, Lactones, Thiols and Others)
Application (Soap & Detergents, Cosmetics & Toiletries, Fine Fragrances, Household Products, Food & Beverage, Others)
Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Key Developments in the Market:
- In November 2018, IMCD, a leading distributor of food ingredient and speciality chemicals acquired Aroma Chemical Agencies Ltd. and Alchemie Agencies Pvt. Ltd. The main aim behind this acquisition is to expand their product portfolio in coatings, plastics and other specialty chemical industries in order to gain high profit from it, which will further lead in the upliftment of the global aroma chemicals market
- In January 2018, SH Kelkar & Company Ltd acquired an Italian fragrance firm Creative Flavours and Fragrances. The main aim of this acquisition is to expand their international footprint and further emerge as one of the top 15 global players in the market which will ultimately boost the market growth.
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Market Drivers:
- Growing need for effective health additives can act as a driver for the growth of this market
- Growing demand of aroma chemicals in foods and beverages will also drive the growth of the market
- Growing awareness among consumers towards hygiene propels the market growth
- Growing expenditure on beauty and personal care products will also impede the market growth
Market Restraints:
- High cost of aroma products can hamper the market growth
- Volatility in raw material cost can act as a factor is restricting the growth of this market
- High cost incurred in the research and development process can also act as market growth barrier
Competitive Analysis:
Global aroma chemicals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of aroma chemicals market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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Submitted by:Sopan Gedam