Aroma Chemicals Growth is Expected to Accelerate at a Whopping 4.7% CAGR by 2032

As of 2022, Fact.MR expects the Aroma Chemicals industry to be valued at US$ 5.21 Billion

According to a recently updated analysis by Fact.MR, the global market for aroma chemicals is expected to reach US$ 8,115.52 million by 2022, increasing at a 4.7% value CAGR over that time. The market is anticipated to be worth US$5,110 Million by 2022. Large-scale applications in the food and beverage and cosmetic industries, respectively, are primarily responsible for growth.

The global market for aroma chemicals expanded at a CAGR of 3.4% from 2015 to 2021, reaching a value of US$ 5,110 Million at the conclusion of that time frame. Essential components of many goods, including baked goods, fragrances, candies, alcoholic and non-alcoholic beverages, toiletries, and cleaning solutions, are aroma compounds. They are also employed to improve the flavour of meals in cans.

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Key Takeaways from the Market Study

• Global market for aroma chemicals is likely to expand 1.6x from 2022 to 2032
• By source, sales of synthetic aroma chemicals to remain dominant, yielding 69% revenue in 2022
• Terpenoid aroma chemicals to account for a significant value share in the global market
• North America is likely to be an opportunistic market, expanding at a CAGR of 5.6% until 2032
• Asia Pacific to be another significant market, poised to register a growth rate of 6.1%
• Europe is likely to be the kingpin of the global aroma chemicals market, holding a value of US$ 1.8 Billion in 2021

Competitive Landscape

The majority of the industry's major players have been around for a long time and have large production capacities. As a result, in order to meet the growing demand from end-use markets, they are focusing on product launches, expansion, and acquisitions.

• BASF acquired Isobionics, a biotech company, in June 2020 to set up its own distillation plant for the production of new flavors and fragrances. The plant is expected to be built at the Brightlands Chemelot Campus in Geleen, Limburg, the Dutch province. This strategy entails establishing its own production unit for the manufacture and development of new fragrances, which is expected to create market growth opportunities.
• New fragrance technology in all perfume categories, including personal, fabric, fine fragrance, home, and oral care flavors. This technology will assist consumers in improving their overall sense of well-being.

Industry Report

• Aroma Chemicals by Application:
  • Aroma Chemicals for Soaps & Detergents
  • Aroma Chemicals for Cosmetics & Toiletries
  • Aroma Chemicals for Food & Beverages Ingredients
• Aroma Chemicals by Compound:
  • Alcohol-based Aroma Chemicals
    • Saturated Alkyl-Alcohol
    • Unsaturated Alkyl-Alcohol
    • Complex Fragrance Alcohol
    • Aromatic and Aralkyl Alcohol
    • Phenolic
  • Acids-based Aroma Chemicals
    • Saturated Aliphatic Acid
    • Unsaturated Aliphatic Acid
    • Aromatic Acid
  • Esters-based Aroma Chemicals
    • Saturated Esters
    • Unsaturated Esters
    • Aromatic Esters
    • Lactones- Gamma and Delta
    • Synthesis of Ester
  • Aldehydes–based Aroma Chemicals
    • Aliphatic Aldehyde
    • Unsaturated Aldehyde
    • Acetals
    • Aromatics
    • Nitriles
  • Ketones-based Aroma Chemicals
  • Hydrocarbons-based Aroma Chemicals
• Aroma Chemicals by Source:
  • Natural Aroma Chemicals
  • Synthetic Aroma Chemicals
• Aroma Chemicals by Type:
  • Benzenoids-based Aroma Chemicals
  • Musk Aroma Chemicals
  • Terpenoids-based Aroma Chemicals
• Aroma Chemicals by Region:North America Aroma Chemicals Market
  • Latin America Aroma Chemicals Market
  • Europe Aroma Chemicals Market
  • East Asia Aroma Chemicals Market
  • South Asia Aroma Chemicals Market
  • Oceania Aroma Chemicals Market
  • Middle East & Africa Aroma Chemicals Market

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global aroma chemicals market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of application (soaps & detergents, cosmetics & toiletries and food & beverages ingredients), compound (alcohols, acids, esters, aldehydes, ketones and hydrocarbons), source (natural and synthetic) and type (benzenoids, musk chemicals and terpenoids) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

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