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Aroma Chemicals Market by Chemical Type, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 12
  • SKU: IRTNTR44678
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The aroma chemicals market share is expected to increase by USD 1.76 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.6%.

The market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers segmentation by type (terpenes, benzenoids, musk chemicals, and others), application (soaps and detergents, cosmetics and toiletries, fine fragrances, and others), and geography (APAC, North America, Europe, MEA, and South America). This market report also offers information on several market vendors, including BASF SE, Ernesto Ventos SA, Eternis Fine Chemicals Ltd., Givaudan SA, Kao Corp., Kuraray Co. Ltd., S H Kelkar and Co. Ltd., Symrise AG, Takasago International Corp., and Zeon Corp. among others.

What will the Aroma Chemicals Market Size be During the Forecast Period?

Aroma Chemicals Market Size

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Aroma Chemicals Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and after the post-COVID-19 era. The change in consumer preferences is notably driving the market growth, although factors such as high r&d cost may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Aroma Chemicals Market Driver

One of the key factors driving the market is the change in consumer preferences. Not only in women but also among men, there has been a significant increase in the acceptance of personal care products with enhanced perfumes have been observed in recent years. The men's grooming industry is growing rapidly, and a wide range of personal care products has been introduced. Moreover, consumers are also spending more on quality products as their lifestyles change as a result of rising disposable incomes and increased health concerns. Furthermore, the middle class wants to improve their lifestyles and has more purchasing power, and they are becoming more conscious of beauty and personal grooming, which is driving demand for aroma chemicals. In addition, as consumer awareness of personal hygiene has grown in recent years, the use of perfumed cleaning and home care products has increased. During the forecast period, such factors are expected to fuel market growth.

Key Aroma Chemicals Market Trend

The surge in demand for natural aroma chemicals is another factor supporting the market growth in the forecast period. As a result of the increased use of fragrance and aroma products derived from synthetic sources, health problems such as allergies, skin problems, migraines, eczema, and carcinogenic effects are on the rise. Approximately 90% of synthetic aroma chemicals come from petroleum and natural gas. Furthermore, these chemicals are absorbed by the skin when they come into contact with it or when it is exposed to the fragrance, and they accumulate in the body. Some of the compounds commonly found in petroleum oil fractions and their negative effects, such as parabens, disrupt the normal hormonal cycle by interfering with the hormone cycle. Phthalates, on the other hand, are carcinogenic and can harm the liver and kidneys. In addition, consumers are becoming more aware of the various health risks associated with synthetic products. As a result, they've shifted their focus to natural aroma chemicals. Furthermore, plants provide natural chemicals and isolates (flowers, fruits, sap, seeds, plant skin, bark, etc.). These are environmentally friendly, safe, and have improved properties, and they are in high demand in a variety of applications.

Key Aroma Chemicals Market Challenge

High R&D costs will be a major challenge for the market during the forecast period. Aroma chemicals are essential in the production of many products. Despite the high cost of raw materials, manufacturers are under pressure to spend more on research and development in order to improve products and retain existing customers. Furthermore, changing consumer preferences are affecting the global market, necessitating the development of new and interesting solutions to meet the needs of customers. The certification process, which ensures the product's quality and safety, is also a costly procedure. As a result, the high R&D costs associated with the market pose a challenge to market vendors. To compete in today's market, they must invest a substantial amount of money in R&D each year. Furthermore, due to complex R&D processes, there may be a time lag between demand for aroma chemicals and delivery. In addition, vendors are focusing on aroma chemical R&D based on client requirements for the development of aroma chemicals that are tailored to the customer's needs. They also collaborate with various research centers around the world to deliver innovative, one-of-a-kind, and natural products, raising costs and impeding the market growth.

This aroma chemicals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global aroma chemicals market as a part of the global diversified chemicals market. Furthermore, high demand from developing economies, increasing demand for natural colorants and flavors, and continuous product innovation are some of the factors driving the globally diversified chemical market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Aroma Chemicals Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • BASF SE
  • Ernesto Ventos SA
  • Eternis Fine Chemicals Ltd.
  • Givaudan SA
  • Kao Corp.
  • Kuraray Co. Ltd.
  • S H Kelkar and Co. Ltd.
  • Symrise AG
  • Takasago International Corp.
  • Zeon Corp.

 

This statistical study of the encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as pricing, quality, product innovation, brand reputation & identity, and expansion of distribution channels to compete in the market.

Product Insights and News

  • BASF SE ? The company offers different types of aroma ingredients such as biotech-based, rose, citrus, lavender, muguet, menthol, and others.
  • Givaudan SA - The company through its fragrance and beauty business segment offers fine fragrances and aromatic ingredients under the product lines such as fragrance molecules, naturals, and naturality platform.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Aroma Chemicals Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global diversified chemicals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.

 

Which are the Key Regions for Aroma Chemicals Market?

Aroma Chemicals Market Market segmentation by region

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40% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the aroma chemicals market in APAC. Market growth in this region will be faster than the growth of the other regions.

A growing population with rising disposable incomes and growing demand for better lifestyles among consumers will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in the APAC region had an adverse effect on several end-user industries, including fine fragrances and cosmetics, and personal care, owing to the temporary closure of several production plants and retail outlets. However, with the lifting of lockdowns and restrictive measures, the regional personal care market is expected to grow gradually, which, in turn, will propel the growth of the market focus during the forecast period.

What are the Revenue-generating Type Segments in the Aroma Chemicals Market?

Aroma Chemicals Market Segmentation

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The  market share growth in the soap and detergent segment will be significant during the forecast period. Increasing awareness regarding health and personal hygiene has increased the demand for aroma chemicals in soaps and detergents. The market for soap and detergents has the largest presence in APAC, followed by Europe and North America. Furthermore, the rise in the demand for premium soaps in emerging markets, primarily those in the Middle East, South America, and APAC, will further drive the segment growth during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Aroma Chemicals Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.6%

Market growth 2021-2025

$ 1.76 billion

Market structure

Fragmented

YoY growth (%)

5.10

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 40%

Key consumer countries

US, China, India, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

BASF SE, Ernesto Ventos SA, Eternis Fine Chemicals Ltd., Givaudan SA, Kao Corp., Kuraray Co. Ltd., S H Kelkar and Co. Ltd., Symrise AG, Takasago International Corp., and Zeon Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Aroma Chemicals Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive aroma chemicals market growth during the next five years
  • Precise estimation of the aroma chemicals market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the aroma chemicals industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of aroma chemicals market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
  • 2.2 Market characteristics
    • Exhibit 02: Market characteristics
  • 2.3 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Diversified chemicals

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Soaps and detergents - Market size and forecast 2020-2025
      • Exhibit 17: Soaps and detergents - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Soaps and detergents - Year-over-year growth 2020-2025 (%)
    • 5.4 Cosmetics and toiletries - Market size and forecast 2020-2025
      • Exhibit 19: Cosmetics and toiletries - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Cosmetics and toiletries - Year-over-year growth 2020-2025 (%)
    • 5.5 Fine fragrances - Market size and forecast 2020-2025
      • Exhibit 21: Fine fragrances - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Fine fragrances - Year-over-year growth 2020-2025 (%)
    • 5.6 Others - Market size and forecast 2020-2025
      • Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by Application
      • Exhibit 25: Market opportunity by Application

    6 Market Segmentation by Chemical type

    • 6.1 Market segments
      • 6.2 Comparison by Chemical type
        • 6.3 Terpenes - Market size and forecast 2020-2025
          • Exhibit 28: Terpenes - Market size and forecast 2020-2025 ($ million)
          • Exhibit 29: Terpenes - Year-over-year growth 2020-2025 (%)
        • 6.4 Benzenoids - Market size and forecast 2020-2025
          • Exhibit 30: Benzenoids - Market size and forecast 2020-2025 ($ million)
          • Exhibit 31: Benzenoids - Year-over-year growth 2020-2025 (%)
        • 6.5 Musk Chemicals - Market size and forecast 2020-2025
          • Exhibit 32: Musk Chemicals - Market size and forecast 2020-2025 ($ million)
          • Exhibit 33: Musk Chemicals - Year-over-year growth 2020-2025 (%)
        • 6.6 Others - Market size and forecast 2020-2025
          • 6.7 Market opportunity by Chemical type

            7 Customer Landscape

            8 Geographic Landscape

            • 8.1 Geographic segmentation
              • Exhibit 38: Market share by geography 2020-2025 (%)
            • 8.2 Geographic comparison
              • Exhibit 39: Geographic comparison
            • 8.3 APAC - Market size and forecast 2020-2025
              • Exhibit 40: APAC - Market size and forecast 2020-2025 ($ million)
              • Exhibit 41: APAC - Year-over-year growth 2020-2025 (%)
            • 8.4 North America - Market size and forecast 2020-2025
              • Exhibit 42: North America - Market size and forecast 2020-2025 ($ million)
              • Exhibit 43: North America - Year-over-year growth 2020-2025 (%)
            • 8.5 Europe - Market size and forecast 2020-2025
              • Exhibit 44: Europe - Market size and forecast 2020-2025 ($ million)
              • Exhibit 45: Europe - Year-over-year growth 2020-2025 (%)
            • 8.6 MEA - Market size and forecast 2020-2025
              • Exhibit 46: MEA - Market size and forecast 2020-2025 ($ million)
              • Exhibit 47: MEA - Year-over-year growth 2020-2025 (%)
            • 8.7 South America - Market size and forecast 2020-2025
              • Exhibit 48: South America - Market size and forecast 2020-2025 ($ million)
              • Exhibit 49: South America - Year-over-year growth 2020-2025 (%)
            • 8.8 Key leading countries
              • Exhibit 50: Key leading countries
            • 8.9 Market opportunity by geography
              • Exhibit 51: Market opportunity by geography ($ million)

            9 Drivers, Challenges, and Trends

            • 9.1 Market drivers
              • 9.2 Market challenges
                • 9.3 Market trends

                  10 Vendor Landscape

                  • 10.1 Vendor landscape
                    • Exhibit 53: Vendor landscape
                  • 10.2 Landscape disruption
                    • Exhibit 54: Landscape disruption
                    • Exhibit 55: Industry risks
                  • 10.3 Competitive scenario

                    11 Vendor Analysis

                    • 11.1 Vendors covered
                      • Exhibit 56: Vendors covered
                    • 11.2 Market positioning of vendors
                      • Exhibit 57: Market positioning of vendors
                    • 11.3 BASF SE
                      • Exhibit 58: BASF SE - Overview
                      • Exhibit 59: BASF SE - Business segments
                      • Exhibit 60: BASF SE - Key news
                      • Exhibit 61: BASF SE - Key offerings
                      • Exhibit 62: BASF SE - Segment focus
                    • 11.4 Ernesto Ventos SA
                      • Exhibit 63: Ernesto Ventos SA - Overview
                      • Exhibit 64: Ernesto Ventos SA - Product and service
                      • Exhibit 65: Ernesto Ventos SA - Key offerings
                    • 11.5 Eternis Fine Chemicals Ltd.
                      • Exhibit 66: Eternis Fine Chemicals Ltd. - Overview
                      • Exhibit 67: Eternis Fine Chemicals Ltd. - Product and service
                      • Exhibit 68: Eternis Fine Chemicals Ltd. - Key offerings
                    • 11.6 Givaudan SA
                      • Exhibit 69: Givaudan SA - Overview
                      • Exhibit 70: Givaudan SA - Business segments
                      • Exhibit 71: Givaudan SA - Key news
                      • Exhibit 72: Givaudan SA - Key offerings
                      • Exhibit 73: Givaudan SA - Segment focus
                    • 11.7 Kao Corp.
                      • Exhibit 74: Kao Corp. - Overview
                      • Exhibit 75: Kao Corp. - Business segments
                      • Exhibit 76: Kao Corp. - Key news
                      • Exhibit 77: Kao Corp. - Key offerings
                      • Exhibit 78: Kao Corp. - Segment focus
                    • 11.8 Kuraray Co. Ltd.
                      • Exhibit 79: Kuraray Co. Ltd. - Overview
                      • Exhibit 80: Kuraray Co. Ltd. - Business segments
                      • Exhibit 81: Kuraray Co. Ltd. - Key news
                      • Exhibit 82: Kuraray Co. Ltd. - Key offerings
                      • Exhibit 83: Kuraray Co. Ltd. - Segment focus
                      • Exhibit 84: S H Kelkar and Co. Ltd. - Overview
                      • Exhibit 85: S H Kelkar and Co. Ltd. - Business segments
                      • Exhibit 86: S H Kelkar and Co. Ltd. - Key offerings
                      • Exhibit 87: S H Kelkar and Co. Ltd. - Segment focus
                      • Exhibit 88: Symrise AG - Overview
                      • Exhibit 89: Symrise AG - Business segments
                      • Exhibit 90: Symrise AG - Key news
                      • Exhibit 91: Symrise AG - Key offerings
                      • Exhibit 92: Symrise AG - Segment focus
                      • Exhibit 93: Takasago International Corp. - Overview
                      • Exhibit 94: Takasago International Corp. - Business segments
                      • Exhibit 95: Takasago International Corp. - Key news
                      • Exhibit 96: Takasago International Corp. - Key offerings
                      • Exhibit 97: Takasago International Corp. - Segment focus
                      • Exhibit 98: Zeon Corp. - Overview
                      • Exhibit 99: Zeon Corp. - Business segments
                      • Exhibit 100: Zeon Corp. - Key news
                      • Exhibit 101: Zeon Corp. - Key offerings
                      • Exhibit 102: Zeon Corp. - Segment focus
                    • 11.9 S
                      • Kelkar and Co. Ltd 125
                        • Symrise AG 127
                          • Takasago International Corp 129
                            • Zeon Corp 131
                              • Appendix 133
                                • Scope of the report 134
                                  • Currency conversion rates for US$ 135
                                    • Research methodology 136

                                      Research Framework

                                      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                                      TechnavioINFORMATION SOURCES

                                      Primary sources

                                      • Manufacturers and suppliers
                                      • Channel partners
                                      • Industry experts
                                      • Strategic decision makers

                                      Secondary sources

                                      • Industry journals and periodicals
                                      • Government data
                                      • Financial reports of key industry players
                                      • Historical data
                                      • Press releases
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                                      TechnavioDATA ANALYSIS

                                      Data Synthesis

                                      • Collation of data
                                      • Estimation of key figures
                                      • Analysis of derived insights

                                      Data Validation

                                      • Triangulation with data models
                                      • Reference against proprietary databases
                                      • Corroboration with industry experts
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                                      TechnavioREPORT WRITING

                                      Qualitative

                                      • Market drivers
                                      • Market challenges
                                      • Market trends
                                      • Five forces analysis

                                      Quantitative

                                      • Market size and forecast
                                      • Market segmentation
                                      • Geographical insights
                                      • Competitive landscape
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                                      Aroma Chemicals Market market growth will increase by $1.76 bn during 2021-2025.
                                      The aroma chemicals market market is expected to grow at a CAGR of 5.6% during 2021-2025.
                                      Technavio has segmented the aroma chemicals market market by type (terpenes, benzenoids, musk chemicals, and others) ,application (soaps and detergents, cosmetics and toiletries, fine fragrances, and others) , and geography (APAC, North America, Europe, MEA, and South America).
                                      BASF SE, Ernesto Ventos SA, Eternis Fine Chemicals Ltd., Givaudan SA, Kao Corp., Kuraray Co. Ltd., S H Kelkar and Co. Ltd., Symrise AG, Takasago International Corp., Zeon Corp. are a few of the key vendors in the aroma chemicals market market.
                                      APAC will register the highest growth rate of 40% among the other regions. Therefore, the aroma chemicals market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                                      The key factors driving the aroma chemicals market market growth are:
                                      • change in consumer preferences
                                      • surge in demand for natural aroma chemicals
                                      The aroma chemicals market market vendors should focus on grabbing business opportunities from the terpenes segment as it accounted for the largest market share in the base year.
                                      • What are the key global market and the regional market share?
                                      • What are the revenue-generating key market segments?
                                      • What are the key factors driving and challenging this market’s growth?
                                      • Who are the key market vendors and their growth strategies?
                                      • What are the latest trends influencing the growth of this market?
                                      • What are the variables influencing the market growth in the primary regions?
                                      • What are the factors influencing the growth of the parent market?
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