Aroma Chemicals Global Market Report 2023

Major players in the aroma chemicals market are BASF SE, Solvay S.A., Takasago International Corporation, Kao Corporation, Hindustan Mint And Agro Products Pvt. Ltd., Givaudan, Privi Speciality Chemicals Limited, SymriseAG, Robertet SA, International Flavors And Fragrances Inc.

New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aroma Chemicals Global Market Report 2023" - https://www.reportlinker.com/p06464242/?utm_source=GNW , Treatt PLC, Firmenich SA, Bell Flavors & Fragrances, Cedarome Canada Inc., and Eternis Fine Chemicals Ltd.The global aroma chemicals market is expected to grow from $5.41 billion in 2022 to $5.81 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aroma chemicals market is expected to reach $7.42 billion in 2027 at a CAGR of 6.3%.The aroma chemicals market consists of sales of benzyl alcohol, acetone, linalool, ethanol, ethyl acetate, camphor, formaldehyde, methylene chloride, and limonene.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Aroma chemicals refer to natural or artificial chemical compounds that chemical substances that impart an enticing fragrance and odor.They are frequently very volatile, whose main function is to impart flavor or aroma.Aroma compounds are created in chemical reactors using synthetic starting materials and go through a significant chemical transition.Asia-Pacific was the largest region in the aroma chemicals market in 2022. The regions covered in the aroma chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of aroma chemical products are benzenoids, terpenoids,musk chemicals, and others.Benzenoids refer to aromatic compounds with benzene rings as the main structural component.Several types of sources includes are natural, synthetic, and natural-identical sources which are used for various applications such as food and beverages, fine fragrances, cosmetics and toiletries, soaps and detergents, and others.The increasing demand for cosmetics and personal care products is expected to propel the growth of the aroma chemicals market.Cosmetics and personal care items are those made of chemicals that are applied to the human body in an effort to clean, enhance, make it more appealing, or otherwise change the way it looks.Aroma chemicals are primarily used in cosmetics and personal care products to manufacture different types of beauty products and flavors and fragrances.Consumer demand for cosmetics and personal care items is growing, which boosts the market for aroma chemicals.For instance, in January 2021, according to an article shared by Automat.ai, a Canada-based business services, software, and computer software company, in the US, sales of skincare products increased by 13% last year, while sales of makeup items increased by 1%. At that time, the growth of online beauty merchants was 24%, with skincare taking the lead. Therefore, increasing demand for cosmetics and personal care products is driving the growth of the aroma chemicals market.Product innovations are a key trend gaining popularity in the aroma chemicals market going forward.Major companies operating in the aroma chemicals market are focused on developing innovative solutions to strengthen their position in the market.For instance, in May 2021, P2 Science, Inc. (P2), a US-based green chemistry company, launched Herbenone, a new patented renewable aroma chemical. Herbenone is a new herbal top note made with patented green chemistry from sustainable forestry-derived feedstock. It imparts herbal, anise, fresh basil, and a tad of jasmine notes to all kinds of cosmetics and personal care products. Herbenone is based on the same green chemical platform as other P2 products. As a result, it comes from recycled forestry feedstocks made from certified pine trees by the Forest Stewardship Council.In June 2021, Azelis Holding SA, a Belgium-based provider of specialty chemicals and ingredients, acquired Vigon International Inc. for an undisclosed amount. With this acquisition, Azelis Holding is able to establish a strong foothold in the expanding and non-cyclical flavor and fragrance markets in the Americas. Vigon International Inc. is a US-based chemical manufacturing company that offers essential oils, synthetic and natural ingredients, as well as natural aroma chemicals.The countries covered in the aroma chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The aroma chemicals market research report is one of a series of new reports that provides aroma chemicals market statistics, including aroma chemicals industry global market size, regional shares, competitors with aroma chemicals market share, detailed aroma chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the aroma chemicals industry. This aroma chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06464242/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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