Global Aroma Ingredients Market is valued approximately at USD 2.29 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 4.31% over the forecast period 2019-2026. Aroma ingredients are substances added to the various products in order to to incorporate the desired odor. Aroma ingredients find application in several consumer products including fine fragrances, toiletries and cosmetics. The cosmetic market majorly constitutes skincare, hair care, make up and oral cosmetic products. According to a report published by Statista, the global cosmetic industry grew by 5.5 percent in 2018 when compared to 2017 owing to rising consciousness amongst people pertaining to skincare, hair care and rising disposable income. Therefore, the increasing demand for of cosmetics is contributing to the aroma ingredients market growth. Further, change in lifestyle and consumer preferences is also a factor driving the market growth. Furthermore, considering the The side effects of using synthetic/chemical- based products, is one of the reason of the consumer preference is shifting towards natural personal care products. Natural aroma ingredients are used to incorporate desired odor in natural and organic beauty products The natural and organic beauty products require natural aroma ingredients for incorporating desired odor. According to a report published by Statista, the natural and organic beauty market is growing rapidly and is expected to reach USD 22 billion by 2024. Therefore, the rise in natural and organic beauty product market is expected to contribute significantly to the aroma ingredients market growth. However, stringent government regulations on production of aroma ingredients and high R&D cost are factors likely to hinder the aroma ingredients market growth over the forecast period.
The regional analysis of global Aroma Ingredients Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the large customer base in the region. Also, the leading manufactures of aroma ingredients and personal care products are based in Europe which is factor contributing to the leading position of the region. Further, most of the perfume industry players are based in Germany, Italy, UK and France.
Major market player included in this report are:
International Flavors & Fragrances Inc. (IFF)
Takasago International Corporation
ROBERTET Robertet SA
Sensient Technologies Corporation
T. Hasegawa Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Aroma Ingredients Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers