Published Date: November 2024
Aroma Ingredients Market was valued at US$ 5.7 Billion in 2024 and is projected to grow at a CAGR of 9.7% to reach US$ 13.3 Billion by 2034.
Aroma ingredients market is expected to register moderate growth over the forecast period. This is attributed to increasing demand for aroma ingredients in end-use applications such as toiletries, cosmetics, perfumes, colognes, body mists, and deodorants, coupled with rising consumption of personal care products across the globe.
High growth potential from emerging economies is expected to create lucrative growth opportunities for new as well as existing players to gain a competitive edge.
Key Market Insights from the report:
The market report has been segmented on the basis of product, application, and region.
- By type, the synthetic ingredients segment accounted for a major revenue share in 2019. Synthetic ingredients are compounds artificially made through chemical reactions. Synthetic ingredients have characteristic odors and are synthesized using various artificial chemicals primarily derived from coal tar and petroleum. Synthetic ingredients are less costly as well as consistent in quality and price, unlike natural ingredients.
- By application, the fine fragrance segment holds for major revenue share in 2019, owing to increasing demand for perfumes, colognes, deodorants, and body mists across the globe
- By region, the European aroma ingredients market accounted for a major revenue share of the aroma ingredients market and is further anticipated to maintain its dominance over the forecast period, owing to the strong foothold of manufacturers of personal care products in France, Germany, Italy, and the UK. The market in Latin America is expected to account for the second-highest revenue share in 2019.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Aroma Ingredients Market”, by Type (Synthetic Ingredients and Natural Ingredients), by Application (Fine Fragrances, Toiletries, and Cosmetics), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)- forecast till 2034"
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The prominent players operating in the aroma ingredients market include Symrise AG, Takasago International Corporation, Sensient Technologies Corporation, MANE Inc., Robertet SA, T. Hasegawa Co., Ltd., Frutarom Industries Ltd., Givaudan SA, Firmenich International SA, and International Flavors & Fragrances Inc.
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