Terpenoids has been gaining popularity among other segments of aroma chemicals and is expected to keep major market share in the forecast period

Date: 1 March 2020

According to a research report published by Azoth Analytics in February 2020, the Global Aroma Chemicals Market was valued at USD 5315.26 Million in the year 2019. Primarily, the growth in market can be attributed to growing awareness among consumers towards hygiene coupled with increasing awareness about personal hygiene, availability of various options in skin care products and toiletries, wide portfolio of perfumes and deodorants, ever-growing population, and growth in disposable income in emerging economies such as India and China that is boosting the demand for fragrances among consumers. This in turn will drive the aroma chemicals market.

According to the Azoth Analytics Research Report GlobalAroma Chemicals  Market, the market is analysed on the basis Product (Benezenoids, Musk Chemicals, Terpenoids, Others), By Type (Natural, Synthetic), By Application (Food & Beverages, Personal & Household Care, Cosmetics and Others) By Region (North America, Europe, APAC) and By Country (United States, Canada, Germany, United Kingdom, France, Spain, India, China, Japan, South Korea.).

Among the Product segment in the Aroma Chemicals market (Benezenoids, Musk Chemicals, Terpenoids, Others), Terpenoids has been gaining popularity among other segments and is expected to keep major market share in the forecast period because they have the strong odor and are used in various applications such as in perfumery, in alternative medicines such as aromatherapy, as a fragrance ingredient in food and beverages, and essential oils.

Based on Type (Natural, Synthetic), Natural Aroma Chemicals dominates the market share in year 2019 and is also expected to show dominance during the forecast period. The reason for the growth could be that Natural aroma chemicals are primarily produced from ingredients harvested from grown plants, rather than from petrochemicals. Natural chemicals are considered safer, greener, therapeutic, and more maintainable by purchasers.

Based on Application (Food & Beverages, Personal & Household Care, Cosmetics and Others), Food & Beverages dominates the market share in year 2019 and is also expected to show dominance during the forecast period. The reason for the growth in the ?r?m? ?h?m???l? market ?r? its application as ????n?? ?r fl?v?r ?ngr?d??nt in the f??d and b?v?r?g?? ?ndu?tr?. ?n?r????ng growth of f??d and b?v?r?g?? ?ndu?tr? ?? ?????t?d to ?r??t? demand for ?r?m? ?h?m???l? ?v?r the f?r????t ??r??d. Aroma compounds can be found in food, wine, spices, floral scent, perfumes, fragrance oils, and essential oils.

Among the regions, North America market is estimated to be the leading market for Aroma Chemicals during the forecast period with United Sates being the leading country in the region followed by Canada. North America Aroma Chemicals market emerges as most productive market. Attributing to the high consumption potential, increasing production capacities, and rising economic growth rate exclusively, the region is expected to witness significant growth throughout the forecast period. North America market is primarily being driven by the growing high-income class and the increased spending by consumers on premium products. Moreover, the growth in the market can also be attributed to increase in consumer spending on beauty and personal care items in the region.
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