The global aroma chemical market is projected to reach $7.3 billion by 2028, at a CAGR of 5.1% during 2023-2028. The growth of aroma chemical market is driven by huge requirement for flavor in edible products, increasing inclination towards natural and bio-based chemicals, and growing application of flavors & fragrance in various end use industry products, such as cosmetics & toiletries, soaps & detergents, and food & beverages.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the aroma chemical market by source
(natural, synthetic, and natural-identical), chemical (benzenoids, musk
chemicals, terpenes & terpenoids, and others), application (flavors and
fragrance), and region (North America, Europe, Asia Pacific, and the Rest of
the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the aroma chemical market?
Q.4 What are some
changing demands of customers in the aroma chemical market?
Q.5 What are the new
developments in the aroma chemical market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this aroma chemical area and how big of a
threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this aroma chemical market?
Market Segmentation:
Based on source, the
aroma chemical market is segmented into natural, synthetic, and
natural-identical. The synthetic segment accounted for the largest share of the
market in 2023 and is expected to register the highest CAGR during the forecast
period, due to the considerable usage of synthetic aromas in a variety of
products, including cosmetics, personal care items, and food and beverages
because they are readily available and produced at a low cost.
APAC will remain the
largest region due to the growing food and beverage industry and extensive
demand for satisfying fragrances and flavors in developing countries like
India.
Key Players in the aroma
chemical market are BASF SE, Privi Organics, Takasago International, and Bell
Flowers & Fragrances.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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