Global Aroma Chemicals Market to Grow at a CAGR of 5.2% During 2021-2026, Driven by the Rising Sales of Cosmetics Products

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 2021, 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:

• By aroma type, the global aroma chemicals industry can be bifurcated into natural and synthetic aromas.
• On the basis of chemicals, the industry is categorised into benzenoids, musk chemicals, and terpenoids, among others. 
• On the basis of applications, the industry is divided into soaps and detergents, cosmetics and toiletries, fine fragrances, and others. 
• Region-wise, the global market for aroma chemicals can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for aroma chemicals is being driven by the thriving personal care and cosmetics industry. 
• Rising disposable incomes and rapid urbanisation, coupled with the growing trend of aromatherapy, is providing a further impetus to the industry. 
• The growing focus of manufacturers to launch products with enhanced properties is aiding the industry further. 
• The changing consumer preferences, which are leading to the increased demand for natural aromas, is providing a boost to the industry. 
• Increased government regulations regarding the use of green chemicals are also aiding the industry growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for aroma chemicals for the periods (2016-2020) and (2021-2026). 
• The report offers historical (2016-2020) and forecast (2021-2026) market information for the aroma types, chemicals, applications, and major regions of aroma chemicals.
• The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of aroma chemicals. 
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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