Aroma Chemicals Market Driven by Surge in Adoption of Benzenoids Chemical: Fact.MR
Market players are launching new ranges of aroma chemicals that boost flavour and offer unique fragrance. They are now making fragrances and perfumes that could be custom-made and personalized for users.
ROCKVILLE, MD / ACCESSWIRE / December 22, 2020 / The global aroma chemicals market is likely to record a steady CAGR of about 4% during the assessment period of 2020-2030. Growing demand for aroma chemicals in the food & beverage and fragrance industry will underpin the growth of the market. Strict regulations in relation to artificial flavours are complimenting to the expansion of natural aroma chemicals in the food sector.
“Adoption of artificial intelligence (AI) by top market players to grow attractive fragrances will bolster the advancement of the aroma chemicals market. In APAC, the expanding industrial sector, due to supportive government initiatives, will fuel market expansion.” says a Fact.MR analyst.
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- Europe is anticipated to remain lucrative throughout the forecast period, however, APAC will be recording fastest growth pace.
- Rising use of aroma chemicals in perfume, as well as in the cosmetics & toiletries industry will fuel market growth.
- Benzenoids will be dominating the chemicals segment owing to their availability and ability to effortlessly mix with other aroma chemicals.
- Rising awareness amid consumers for hygiene is driving the market as aroma chemicals are extensively utilized to produce cleaning products.
- Growing demand for aroma chemicals from the food sector is projected to augment market growth.
- Increasing adoption of greener fragrances in perfumes is creating lucrative prospects for the market players.
- Health troubles triggered by aroma chemicals is limiting the market growth.
- Strict regulations considering the contamination caused amid the production of aroma chemicals, might hamper the growth of the market.
Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 outbreak has had a huge impact on the worldwide economy, and has posed a similar influence on the aroma chemicals market. The market has been faced with the lack of migrant labor, supply chain disruptions, shutdown of manufacturing activities, to name a few.
However, progression in the benzenoids segment is likely to have a positive influence on the market amid this crisis. Moreover, increase in investments by governments for food security are likely to impact market developments in the post-pandemic years.
Explore the global aroma chemicals market with 138 figures, 80 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/5374/aroma-chemicals-market
The global aroma chemicals market is highly competitive. Due to augmented product demand, key companies are engaged in mergers & acquisitions, investment strategies, and expansion to enhance their product portfolios. Some of the key companies in the market are Takasago International Corporation, Bell Flavors & Fragrances Inc., Yingyang flavors & fragrances group, Zhejiang Newfine Industry Co. Ltd., Fairchem Specialty Limited,Wild Flavors and Specialty Ingredients Inc., Hindustan Mint & Agro Products Pvt. Ltd., Sensient Technologies Corporation,Ungerer & Company, Givaudan SA, Robertet SA, Firmenich SA, Aroma Tech Inc., Bedoukian Research Inc.,Kao Corporation, Tadimety Aromatics Pvt., Ltd., Hasegawa Co. Ltd., Dongying Kehong Chemical Co. Ltd. and Oriental Aromatics Limited.
More on the Report
The Fact.MR’s market research report provides in-depth insights into the aroma chemicals market. The market is scrutinized on the basis of application (cosmetics & toiletries, food & beverages, essential oils, perfumes, soap & detergents and others), chemical type (benzenoids, musk chemicals, terpenoids & terpenes (cyclic and acyclic), and other chemical types), across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
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