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The Europe leads the global aroma chemicals industry owing to the increased sales of cosmetics and toiletries in the region. In Europe, factors like high consumer spending power and increased consumer awareness regarding personal hygiene are significantly aiding the regional industry growth. Globally, the aroma chemicals industry is witnessing an increased demand for green or plant-based aroma chemicals. The rising manufacturing standards in the chemical industry owing to the implementation of strict government regulations is providing a further impetus to the market. Some of the major players in the industry include Kao Chemicals Europe. S.L., a subsidiary of Kao Corporation (OTCMKTS: KAOOY), and Bordas-SA.
As aroma chemicals are used as building blocks in fine fragrances, personal care products, and laundry and cleaning materials, the growing consumption of these products by consumers is, in turn, aiding the aroma chemicals industry. In February 2020, Kao Corporation announced that the company would be launching a new face and body moisturising spray designed for consumers with dry and sensitive skin under its brand Curél. The Curél Deep Moisture Spray will first launch in Japan, and then it will be rolled out to the rest of Asia, thus, targeting consumers with sensitive skin and expanding its global reach.
Moreover, the growing consumer shift towards online platforms is leading to the increased sales of cosmetics and personal care products. In 2018, Amazon India (NASDAQ: AMZN) announced the launch of its own brand of beauty and personal care products, aiming to focus on the high margin cosmetics category, following the footsteps of other digital retailers like Flipkart. Such developments are expected to aid the growth of the aroma chemicals industry globally over the forecast period.
Market Breakup by Aroma Type, Chemical, Application, and Region:
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The major players in the global aroma chemicals market are Bordas-SA, Emerald Kalama Chemical, and Kao Chemicals Europe. S.L., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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