Aroma Chemical Market

Global Industry Analysis (2018 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

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Industry: Chemicals & Materials

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The demand for aroma chemical is increasing due to the growing demand from the food and beverage industry. Aroma chemicals are used to impart a desired flavor or scent to food and beverages. They are also used in cosmetics and personal care products. Some of the most common aroma chemicals include vanillin, menthol, and citral. Vanillin is used to add a vanilla flavor to food and beverages. Menthol is used to add a mint flavor to food and beverages. Citral is used to add a citrus flavor to food and beverages. Moreover, aroma chemicals are also used in the production of perfumes and fragrances. They are also used in the production of air fresheners and household cleaners.

Essential oils, flavor extracts, and artificial flavors are some of the most common aroma chemicals in the global aroma chemical market. These chemicals are majorly used in food and beverage applications. Essential oils are natural extracts that are derived from plants. They are often used to impart a particular flavor or scent to a product. Flavor extracts are also natural products, but they are made by extracting the flavor molecules from plant or animal materials.

Rapidly Expanding Food and Beverages Industry to Propel Demand for Aroma Chemicals

The food and beverage industry is one of the consumers of aroma chemical market. The demand for these chemicals is expected to grow in the next few years as the industry looks for ways to improve the quality of their products. Aroma chemicals are used in a variety of food and beverage applications, including flavoring, fragrance, and preservative agents. They can be used to enhance the flavor or odor of a product, or to mask unpleasant smells. Aroma chemicals are also used to extend the shelf life of food and beverages by preventing spoilage. There are many different types of aroma chemicals, each with its own unique properties. Some of the most common aroma chemicals include vanillin, ethylvanillin, and linalool.

The food and beverage industry has been using aroma chemicals for many years. In fact, the use of these chemicals dates back to the early 1800s, when vanillin was first used to flavor foods. Vanillin is a natural compound that is found in vanilla beans. It has a sweet, vanilla-like flavor and is used to add flavor to a wide variety of products, including ice cream, candy, and baked goods. Ethylvanillin is a synthetic compound that has a stronger vanilla flavor than vanillin. It is often used in conjunction with vanillin to create a more intense flavor. Linalool is a naturally occurring compound that has a floral scent. It is often used in perfumes and cosmetics.

Natural Aroma Chemical to Play Key Role in Aroma Chemical Market

Natural aroma chemicals are derived from plant or animal sources and are used in a wide range of applications, including food & beverage, personal care, and home care. They offer several advantages over synthetic aroma chemicals, such as superior fragrance quality, low toxicity, and eco-friendly composition. As a result, natural aroma chemical market is increasing rapidly across the globe. This has put pressure on product manufacturers to opt for natural ingredients in their products to meet the consumer demand. Moreover, increasing consumer awareness regarding the harmful effects of chemicals on human health, such as allergies and respiratory disorders, has proliferated the demand for natural aroma chemicals. The booming food & beverage industry is expected to remain a major contributor to the overall market revenue during the forecast period.

Asia Pacific to Dominate Aroma Chemical Market

Asia Pacific is the largest aroma chemical market. The region accounted for around 32% of global shipments in terms of value, followed by North America at 22%, Europe at 18% and the rest of the world accounting for about 25%. Asia Pacific dominated this industry, led by China. Some other major countries are India, Thailand and South Korea. These four countries alone accounted for nearly 70% of total aroma chemical shipments in Asia Pacific region. To be specific, China stood as the leading country to import aroma chemicals during last year. It took around one third portion of overall imports into Asia Pacific with a volume share exceeding 30%. Other key importers were India, Malaysia and Singapore each capturing 10-15% volumes respectively. While Vietnam is emerging as a potential destination for imports in the near future.

The growth in the market is primarily attributed to the increasing demand for aroma chemicals from various end-use industries, such as food & beverage, personal care, and home care. The Asia Pacific region has been registering a high growth rate due to the increasing population, rising disposable incomes, and changing lifestyles.

Vendor Landscape of Global Aroma Chemical Market

Some of the key players operating in aroma chemical market include Givaudan, Firmenich SA, International Flavors & Fragrances Inc., Symrise AG, Takasago International Corporation and Mane SA.

Givaudan, a Switzerland-based company, is present in the global flavors and fragrances market. The company offers products such as scaffolds, sweeteners, polymers and specialized chemicals for other applications such as coolants and masking flavors. Givaudan provides functional ingredients that add bulk to food or increase water retention capacity. It also offers other specialty ingredients such as antioxidants, preservatives and texture agents which help improve food stability and reduce cooking time. Givaudan's major product lines include natural rose flavor (rose oil), coumarin for use in pharmaceuticals besides being an important perfume ingredient; fine fragrance compounds; fruit essences; menthol; beverages containing essential oils; vanilla beans; terpenes used in the flavor and fragrance industry, and others.

Firmenich SA, another Switzerland-based company, is a key player in the global flavors and aroma chemical market. The company offers a wide range of products for food, beverage, personal care and household applications. These include flavors (natural and artificial), essential oils, high-functional ingredients, cosmetic active ingredients and fragrances. 

Key Elements Included In The Study: Global Aroma Chemical Market

  • Aroma Chemical Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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