Aroma ingredient is a naturally or synthetically produced compound, which is added to food products or cosmetics to impart the desired fragrance. Natural aroma ingredients are extracted from natural sources such as flowers, fruits, wood, and spices, whereas synthetic aroma ingredients are produced from chemical compounds such as esters, aldehydes, alcohols, musk chemicals, and terpenes. Various methods used for extracting aromatic compounds from raw materials include distillation, expression, solvent extraction, enfleurage, or sieving. The results of the extracts depend upon the amount of waxes present in the extracted product, which is either absolutes, essential oils, concretes, or butters. Aroma ingredients are majorly applicable across the personal care industry.
Improvement in standard of living has necessitated to spend more time for personal care & hygiene, which acts as a key factor that fuels the demand for aroma ingredients, as they are majorly used in personal care, cosmetic, and therapeutic products. In addition, the unique & exotic fragrance of these ingredients attracts consumers and helps in uplifting their mood, thereby boosting the demand for scented personal care & cosmetic products. Moreover, rise in disposable income increases the spending on personal care and cosmetic products, which is expected to drive the market growth. In addition, shift in consumer preference toward natural ingredients such as rosemary essential oils, lavender essential oils, grapefruit essential oils, and orange essential oils for therapies to combat stress, oily, and congested skin as well as to improve digestion, cold, flu, sinus infection, and other respiratory health condition is anticipated to accelerate the growth of the market. Furthermore, aggressive marketing strategies adopted by major market players attract huge customer base, drives the market growth.
However, allergic issues such as headache, sneezing, and itching related to natural or synthetic aroma ingredients hamper the growth of the aroma ingredients market. In addition, enforcement of stringent regulations toward the use of synthetic ingredients extracted from alcohol restrain the market growth. Moreover, the shelf life of natural aroma ingredients is short, which hinders the growth of the market. Conversely, strong innovations and investments in R&D in cosmetics and personal care industry and increase in consumer preferences for natural and bio-based aroma ingredients are anticipated to offer lucrative opportunity for market expansion.
The global aroma ingredients market is segmented based on type, application, and region. Depending on type, the aroma ingredients market is categorized into synthetic ingredients and natural ingredients. The applications covered in the study include homecare, personal care, fine fragrances and perfumes, others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players operating in the aroma ingredients market are BASF SE, Firmenich SA, Givaudan, International Flavors & Fragrances Inc. (IFF), Robertet SA, S H Kelkar and Company Limited., Sensient Technologies Corporation, Symrise, T. Hasegawa Co., Ltd., and Takasago International Corporation.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Type
o Synthetic Ingredients
o Natural Ingredients
By Application
o Homecare
o Personal Care
o Fine Fragrances and Perfumes
o Others
By Region
North America
Europe
Asia-Pacific
LAMEA
Improvement in standard of living has necessitated to spend more time for personal care & hygiene, which acts as a key factor that fuels the demand for aroma ingredients, as they are majorly used in personal care, cosmetic, and therapeutic products. In addition, the unique & exotic fragrance of these ingredients attracts consumers and helps in uplifting their mood, thereby boosting the demand for scented personal care & cosmetic products. Moreover, rise in disposable income increases the spending on personal care and cosmetic products, which is expected to drive the market growth. In addition, shift in consumer preference toward natural ingredients such as rosemary essential oils, lavender essential oils, grapefruit essential oils, and orange essential oils for therapies to combat stress, oily, and congested skin as well as to improve digestion, cold, flu, sinus infection, and other respiratory health condition is anticipated to accelerate the growth of the market. Furthermore, aggressive marketing strategies adopted by major market players attract huge customer base, drives the market growth.
However, allergic issues such as headache, sneezing, and itching related to natural or synthetic aroma ingredients hamper the growth of the aroma ingredients market. In addition, enforcement of stringent regulations toward the use of synthetic ingredients extracted from alcohol restrain the market growth. Moreover, the shelf life of natural aroma ingredients is short, which hinders the growth of the market. Conversely, strong innovations and investments in R&D in cosmetics and personal care industry and increase in consumer preferences for natural and bio-based aroma ingredients are anticipated to offer lucrative opportunity for market expansion.
The global aroma ingredients market is segmented based on type, application, and region. Depending on type, the aroma ingredients market is categorized into synthetic ingredients and natural ingredients. The applications covered in the study include homecare, personal care, fine fragrances and perfumes, others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players operating in the aroma ingredients market are BASF SE, Firmenich SA, Givaudan, International Flavors & Fragrances Inc. (IFF), Robertet SA, S H Kelkar and Company Limited., Sensient Technologies Corporation, Symrise, T. Hasegawa Co., Ltd., and Takasago International Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global aroma ingredients market from 2018 to 2026 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
KEY MARKET SEGMENTS
By Type
o Synthetic Ingredients
o Natural Ingredients
By Application
o Homecare
o Personal Care
o Fine Fragrances and Perfumes
o Others
By Region
North America
- U.S.
- Canada
- Mexico
Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Aroma Ingredients Market, By Type
Chapter 5: Global Aroma Ingredients Market, By Application
Chapter 6: Global Aroma Ingredients Market, By Region
Chapter 7: Competitive Landscape
Chapter 8: Company Profiles
Executive Summary
According to the report titled, 'Aroma Ingredients Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025,' the global aroma ingredients market size was valued at $11,391.0 million in 2018, and is expected to grow at a CAGR of 4.6% to reach $16,252.4 million by 2026. Aroma ingredients are complex compounds that are added to cosmetics, personal care & home care, toiletries, and skin care products to impart the desired fragrance. Aroma ingredients consist of natural ingredients extracted from fruits, flowers, and herbs & spices and synthetic compounds such as terpenes, benzenoids, musk chemicals, and others.The growth of the global aroma ingredients market is driven by upsurge in demand for consumer care and personal care products. Furthermore, increase in awareness about aromatherapy, owing to improvement in living standards has boosted the growth of the market.
Aroma ingredients are majorly applicable across the personal care industry. They play a major role in the production of soaps, shampoos, and detergents. They are infused with other ingredients such as essential oils in deodorants, perfumes, and colognes to impart the desired, long-lasting fragrance. The other applications of the aroma ingredient include air fresheners, car fresheners and scented candles. Thus, all these factors collectively contribute toward the global aroma ingredients market growth.
However, stringent government regulations related to the use of aroma ingredients and increase in health concerns regarding skin diseases restrain the growth of the aroma ingredients market. Concededly, major leading players focus on developing and launching new aroma ingredients, which is anticipated to have a positive impact on the growth of the market during the forecast period. High growth potential from emerging economies and product innovations by the perfumery industry and cosmetics manufacturers are expected to offer remunerative opportunities to the market.
Key Findings of the Aroma Ingredients Market:
In 2018, based on type, the natural segment accounted for around 41% of the aroma ingredients market share, registering a CAGR of 5.2% from 2019 to 2026.
The homecare segment garnered a share of 49%, and is expected to growth at the highest CAGR of 4.4%.
By application, personal care and fine fragrances & perfumes are anticipated to grow at significant CAGRs of 4.9% and 5.2%, respectively.
In 2018, based on region, the aroma ingredients market was dominated by North America and Europe as the major market with 62% market share and are expected to witness a CAGR of 4.9% and 4.0% during the forecast period.
The key players operating in the global aroma ingredients industry include BASF SE, Firmenich SA, Givaudan, International Flavors & Fragrances Inc. (IFF), Robertet SA, S H Kelkar and Company Limited., Sensient Technologies Corporation, Symrise, T. Hasegawa Co., Ltd., and Takasago International Corporation.
Companies Mentioned
- BASF SE
- Firmenich SA
- Givaudan
- International Flavors & Fragrances Inc. (IFF)
- Robertet SA
- S H Kelkar Company Limited.
- Sensient Technologies Corporation
- Symrise
- T. Hasegawa Co. Ltd.
- Takasago International Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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