Aroma Ingredients Market - Global Industry Analysis

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Aroma ingredients are chemical compounds added to products to obtain the desired aroma. These ingredients have major applications in various industries, such as cosmetics, soaps, and detergents. Chemicals such as terpenes, musk chemical, benzenoids, and aliphatic are largely used as aromatic ingredients.

In the past few years, tremendous growth has been observed in the aroma ingredients market globally. The end-users are shifting their preference toward novel innovative organic cosmetics, skin care, and hair care, among various other products. The cosmetic industry, which is one of the major end-user of aroma ingredients, is expected to have a market value of around USD 20million by 2025. The Indian cosmetic industry is growing at the rate of 13–18%, which is more than the American and European regions. Furthermore, various technological developments are fuelling the demand for the aroma ingredients market. The regulatory bodies in various regions are taking several initiatives and conducting various R&D in order to support the expansion of the market. However, high production and R&D costs are acting as the restraining factors for this market. Nevertheless, high growth potential witnessed across the emerging economies, such as India and China, is expected to provide ample growth opportunities to the key players working in the global aroma ingredients market.

The global aroma ingredients market is fragmented based on type and application. Cosmetics segment is likely to be the most dominant in the global aroma ingredients market in the forecast timeframe. Increase in the use of cosmetics by people of all age groups is projected to drive the demand for aroma ingredients market in the forecast timeframe.

The Asia Pacific region contributed a major share in the aroma ingredients market in terms of volume during 2017. This growth is attributed to the huge developments made in the cosmetic industry during the past few years. Moreover, an increase in the demand from the end-users in this region is largely supporting this market growth. The North American aroma ingredients market is also anticipated to witness noteworthy growth over the next few years.

Some major players operating in the global aroma ingredients market areGivaudan, Firmenich SA, International Flavors & Fragrances Inc. (IFF), Symrise, Bell Flavors & Fragrances, Ogawa & Co., Ltd., Huabao, Solvay, Kao Corporation, and Robertet SA, among others.