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Pulished Date February, 2020
ID: 8103
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Aroma Ingredients Market By Type (Synthetic Ingredients, Natural Ingredients), Application (Fine Fragrances, Toiletries, Cosmetics, And Others), By Region - Global Industry Analysis, Size, Share, Growth, Investment, Forecast (2020 - 2025)

Pulished: February, 2020
ID: 8103
Pages: 175

Aroma Ingredients Market Size, Trends & Growth (2020 - 2025)

The Global Aroma Ingredients Market size was around USD 2.30 Billion by revenue, at the end of 2020. It is anticipated to grow at a CAGR of 4.9 % to reach close to USD 2.89 Billion by the end of 2025.

Aroma chemical is a complicated fusion of natural and/or artificial ingredients which are added to different products in order to incorporate required odor. Aroma ingredients have artificial and natural substances that when added to the goods give them required fragrance. They are highly employed in products like detergents, cosmetics, soaps, toiletries, and others. Aroma ingredients are a collaboration of various chemicals that try and give fragrance which is alike to an aroma. These ingredients are usually obtained from natural or petroleum crude materials. Fragrances are highly employed in the personal care and other customer products. The components added to cosmetics and personal care & home care products for the need fragrance are considered as Aroma Ingredients. They are highly employed in wine, food, perfumes, floral scent, essential oils and fragrance oils. Particularly these aroma ingredients are broadly employed in the production of flavorants employed in food business to improve the flavour and the look of products.

Recent Developments 

  • During April 2018, Mane SA started its new production facility in Colombia with a vision to bolster its position in order to serve the consumers in a better way in the Andean region and capture growth opportunities in fragrances markets.

  • In October 2017, Givaudan opened a new fragrance creative center in Mexico City, Mexico. This was done in order to boost the company’s position in the European region and to cater to the local demands.

  • International Flavours & Fragrances focused on mergers and acquisitions strategy and acquired Frutarom, which is one of the largest manufacturers in the segment. They also opened an ingredients plant in China to strengthen their existing presence in the region. 

Drivers and Restraints in the Aroma Ingredients Market

Aroma ingredients are broadly employed in customer care and personal care products. Personal care business is one of the key application industries for aroma ingredients business. The worldwide aroma ingredients industry has showcased steady expansion over the recent past due to rising call for natural aroma ingredients. Rising customer base, constant product innovation, and increasing call for air fresheners like aerosol sprays, room fresheners, and car air fresheners estimate to propel the worldwide industry expansion. Rising importance and increase in the awareness relating from aromatherapy owing to enhanced living standards gives rise to the market expansion. Rising employment of fragrance ingredients in the household products like scent sticks and candles boost the global aroma ingredients market. Technological developments and rising preferences for natural fragrances show a considerable development in the industry.

The rising call for natural ingredients together with change in customer preferences is known to be the significant driver for global aroma ingredients industry. Moreover, major technological developments have also boosted the expansion of the industry. Furthermore, the rise in call from the growing and developing nations for natural fragrance owing to health issues related to artificial chemicals is probable to act as an opportunity for the expansion of the worldwide aroma ingredients industry. These factors are probable to drive the global industry during the foreseen period. Due to globalization and urbanization, advancing the middle class, and enhanced disposable income the worldwide industry is showing a positive result. Large capital investment is needed for R&D programs, rising production price, and rising health worries relating to allergies and skin problems hinder the aroma ingredients industry to some extent.

Aroma Ingredients Market segmentation as per the research report until 2025.

Aroma Ingredients Market - By Type

  • Synthetic ingredients
  • Natural ingredients

Based on type, synthetic segment is likely to dominate the market in the forecasted period of 2020 to 2025. The growing penetration rate of exotic flavours is driving the market in this segment. Natural fragrances industry is also growing as it can be extensively applied as perfumes, colognes, and deodorants. This is a cardinal factor driving the fine fragrance business.

Aroma Ingredients Market- By Application

  • Fine fragrances
  • Toiletries
  • Personal Care
  • Food & Beverage
  • Cosmetics

The aroma ingredients market has been segmented into various categories including fine fragrances, personal care, cosmetics and others. The fine fragrances segment is foreseen to lead the aroma ingredients market in terms of value during the outlook period of 2020 to 2025. Fine fragrance is a terminology used for products distilled with alcohol and contain a high concentration of aroma ingredients. They include major application fields that include perfumes, colognes, body mists, and deodorants. Aroma ingredients are cardinal components used in formulations of fine fragrances.

Food and beverage industry is also a very big market with an amalgam of local and foreign players. The growing affluence of people has caused an incline in demand more varieties of food products that have attractive aromas.

Aroma Ingredients Market - By Region

The Aroma Ingredients Report includes the segmentation of Regions with their respective Countries.

  • North America Aroma Ingredients Industry includes U.S, Canada.

  • Europe Aroma Ingredients Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

  • Asia Pacific Aroma Ingredients Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

  • Latin America Aroma Ingredients Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

  • Middle East & Africa Aroma Ingredients Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

Asia Pacific region is expected to post the fastest growth, growing at a CAGR of 6.7% during the predicted period of 2020 to 2025. This growth rate can be credited to the easy access of raw materials and the mounting call from several industry verticals. The demand for exotic scents has also increased in many Asian countries and thus caters to the growing opportunities for the fragrance market in the area.

Europe is the largest market for Aroma Ingredients, and it is also estimated to register a CAGR of 4.6% during the forecast period. Countries such as Germany, France and Switzerland are expected to account for the largest share of the market in Europe till 2025. The increasing disposable income & consumption levels and the growing purchasing power of European consumers will help the natural fragrance industry to grow stronger in the continent.

Major companies plying their trade in the Aroma Ingredients Market include Symrise (Germany), T.Hasegawa Co., Ltd. (Japan), Sensient Technologies Corporation (US), Takasago International Corporation (Japan), MANE (France), Firmenich SA (Switzerland), Frutarom (Israel), Robertet SA (France), Givaudan (Switzerland), and International Flavors & Fragrances Inc. (US) are the leading shareholders of the Global Aroma Ingredients Market. There is a constant competition between these companies based on the pricing and quality of the product. They are currently focused on providing expansion strategies to improve their market value and position.

Impact of COVID-19 on Global Aroma Ingredients Market:

The coronavirus pandemic has affected all the small and large economies of the world. Natural fragrance industry witnessed a slump in demand during this period. As a result of that, the production of Aroma Ingredients dipped, and the industry witnessed recession. Many production activities were put on hold in this period, as fragrances were not considered to be essential items and naturally were not given much importance by the users. The European region recorded a hard hit by the pandemic during the early stages of the outbreak. Many manufacturing industries have been shut for some time now, for instance, the food and beverage industry also suffered severe consequences and witnessed low demand during this period. The recovery has started in the regions, but many experts believe that a second wave might be coming and can disrupt the market once again.

The effect of this pandemic is almost similar in the Asia Pacific countries, which implemented the same process of economic lockdown as adopted by the nations in Europe. The investment opportunities reduced significantly, and market slowed down. The recovery of the aroma ingredients market is supposed to resume in the middle of 2021.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                           

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                              

                2.2 Research Phases                      

                                2.2.1 Secondary Research            

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling     

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                      

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                             

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                      

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market               

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 Synthetic Ingredients         

                                5.1.3 Natural Ingredients             

                                5.1.4 Y-o-Y Growth Analysis, By Type      

                                5.1.5 Market Attractiveness Analysis, By Type    

                                5.1.6 Market Share Analysis, By Type      

                5.2 Application                 

                                5.2.1 Introduction           

                                5.2.2 Fine Fragrances    

                                5.2.3 Toiletries 

                                5.2.4 Cosmetics

                                5.2.5 Others      

                                5.2.6 Y-o-Y Growth Analysis, By Application         

                                5.2.7 Market Attractiveness Analysis, By Application        

                                5.2.8 Market Share Analysis, By Application         

6. Geographical Analysis                                              

                6.1 Introduction                              

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Type

                                                6.1.3.3 By Application

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Type

                                                6.1.4.3 By Application

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Type

                                                6.1.5.3 By Application

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy           

                                6.2.6 France      

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan        

                                6.3.5 Australia  

                                6.3.6 South Korea           

                6.5 Latin America                            

                                6.4.1 Introduction           

                                6.4.2 Brazil         

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America         

                6.6 Middle East & Africa               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa        

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental      

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry      

8. Market Leaders' Analysis                                        

                8.1 Givaudan                                      

                                8.1.1 Overview

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Symrise                        

                8.3 Sensient Technologies Corporation                  

                8.4 Takasago International Corporation                 

                8.5 MANE                           

                8.6 T.Hasegawa Co., Ltd.                              

                8.7 International Flavors & Fragrances Inc.                           

                8.8 Frutarom                     

                8.9 Robertet SA                                

                8.10 Firmenich SA                           

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                        

                9.3 Agreements, collaborations and Joint Ventures                          

                9.4 New Product Launches                          

10. Market Outlook and Investment Opportunities                                          

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • The segment-level analysis in terms of By Diagnostic Wearable Devices, and Therapeutic Wearable Devices along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Aroma Ingredients Market Market By Region, From 2020-2025 ( USD Billion )

  2. Global Aroma Ingredients Market Market By Type, From 2020-2025 ( USD Billion )

  3. Global Synthetic Ingredients Market By Region, From 2020-2025 ( USD Billion )

  4. Global Natural Ingredients Market By Region, From 2020-2025 ( USD Billion )

  5. Global Aroma Ingredients Market Market By Application, From 2020-2025 ( USD Billion )

  6. Global Fine Fragrances Market By Region, From 2020-2025 ( USD Billion )

  7. Global Toiletries Market By Region, From 2020-2025 ( USD Billion )

  8. Global Cosmetics Market By Region, From 2020-2025 ( USD Billion )

  9. Global Others Market By Region, From 2020-2025 ( USD Billion )

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