Global Aroma Ingredients Market By Overview
Aroma Ingredients Market was valued at USD 5.7 Billion in 2024 and is projected to grow at a CAGR of 9.7% to reach USD 13.3 Billion by 2034.
Aroma ingredients are chemical compounds that have typical pleasant smell or fragrance. Aroma ingredients are added to cosmetic products to incorporate desire odor. Aroma ingredients are key compounds used in perfumes, colognes, deodorants, body mists, detergents, household products, and pesticides.
Increasing demand for aroma ingredients in fine fragrances such as perfumes, body mists, and deodorants as well as in toiletries and cosmetics is a major factor driving the growth of the aroma ingredients market. In addition, the growing adoption of personal care products among individuals is a factor promoting the growth of the target market. Furthermore, the rising demand for natural aroma ingredients across the globe fuels the growth of the aroma ingredients market. Moreover, changing lifestyles and consumer preferences across the globe is another factor expected to support the growth of the target market over the forecast period. However, cost efficiency regarding R&D innovations is restraining the growth of the aroma ingredients market.
aroma ingredients market has been segmented on the basis of type, application, and region. On the basis of type, the target market is categorized into synthetic ingredients and natural ingredients. On the basis of application, the aroma ingredients market is bifurcated into fine fragrances, toiletries, cosmetics, and others. Another application sub-segment is divided into detergents, household products, aroma therapy, and pesticides.
On the basis of region, the aroma ingredients market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market in Asia Pacific is expected to account for a major revenue share as compared to that of other regions. This can be attributed to the increasing number of manufacturers of personal care products in the countries of the region. Also, the market in Latin America is expected to account for revenue share in the global market, followed by the market in Asia Pacific. Moreover, the market in North America is projected to witness significant growth over the forecast period, owing to rising disposable income among individuals in the countries of the region.
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Global Aroma Ingredients Market By Competitive Landscape & Key Players
Key players operating in the aroma ingredients market
- Symrise AG
- Takasago International Corporation
- Sensient Technologies Corporation
- MANE Inc.
- Robertet SA
- T. Hasegawa Co., Ltd.
- Frutarom Industries Ltd.
- Givaudan SA
- Firmenich International SA
- International Flavors & Fragrances Inc.