Supported by demand from the fine perfume industry in Asia-Pacific to produce 1.8 times more aromatic chemicals than in Europe and the United States

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Personal care and cosmetics industry well positioned to create access demand for aromatic chemicals through 2031

Fact.MR’s latest research study conducted on the The Aromatic Chemicals market offers critical trends influencing market growth along with several macroeconomic indicators. The study explains vital dynamics such as opportunities, drivers, and restraints affecting the demand outlook for the Aromatic Chemicals market in terms of source, chemical type, and application.

NEW YORK, September 17, 2021 / PRNewswire / – According to an in-depth analysis by Fact.MR, the global aromatic chemicals market is expected to show steady growth in the forecast year 2021 to 2031. Growing application of aromatic chemicals in perfumes, cosmetics and food and beverages industry is believed to be the driving force behind market growth for aromatic chemicals.

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In recent years, there has been a rapid shift in consumer preference from using synthetic aromatic chemicals to natural chemicals, due to its healing attributes such as improving energy. , mood enhancement, calming and relaxation. For this reason, the main players are launching new products, capacity extensions and strategic alliances to meet the growing demand for natural chemical flavors.

For example, in September 2019, BASF, the German multinational chemical company, announced the acquisition of Isobionics, a leading biotechnology company specializing in aromatic chemicals, and the conclusion of a partnership with Conagen, a leading biotechnology research company . The strategy will help the company expand its portfolio of natural flavors and fragrance ingredients. These developments in the landscape are expected to propel the demand for natural flavor chemicals.

Aromatic chemicals are widely used in personal care and cosmetic products, such as face masks, creams, body lotions, aftershaves, soaps and shampoos, etc. Thus, the increase in disposable income per capita and the rise in the standard of living of the population increase the demand for the aforementioned products, which in turn stimulates the sales of aromatic chemicals.

“Growth aromatherapy trend for the maintenance of psychological and emotional well-being and the increasing adoption of chemical flavors of natural origin in food and cosmetic products should facilitate the growth of the market in the years to come ”, says a Fact.MR analyst.

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Key points to remember from Aromatic chemicals Market research

  • Europe is believed to remain one of the most lucrative aromatic chemicals markets, driven by the strong presence of leading UK manufacturing companies and Germany.

  • The United States is expected to dominate the market in North America, due to the growing demand for food and beverage, cosmetics and personal care products in the country.

  • Driven by the growing number of companies manufacturing soaps, detergents and home care products in India, the country is expected to forecast robust growth over the assessment period.

  • The China should represent an important part of the Asia Pacific market, supported by the rapid expansion of the fine perfume sector in the country.

  • Based on the type of chemical, benzenoids are expected to generate maximum sales in the segment, due to their ability to mix with other aromatic chemicals and their ease of availability.

Key factors

  • Growing demand from the personal care and food and beverage industries in countries like the United States and China stimulates the sale of aromatic chemicals.

  • Growing awareness of the health benefits associated with natural aromatic chemicals, such as improved energy and improved mood, is expected to drive the market growth.

  • The increasing adoption of organic food products with zero or minimum additives is fueling the demand for natural chemical flavors.

Key restrictions

  • The high cost of producing perfumes using natural aromatic chemicals and the lack of availability of raw materials are the factors hampering the demand for natural aromatic chemicals.

  • The increase in diseases such as allergies, cancer, asthma, and birth defects associated with the use of petroleum-based aromatic chemicals is slowing the growth of the market.

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Competitive landscape

Leading companies in the landscape focus on new product development, expansion and investments to expand their product portfolio. Some of the players are adopting expansion strategies such as acquisition, collaboration, merger and partnership with other players to increase market revenue share. For example,

  • In July 2021, P2 Science, Inc., an innovative green chemistry company, has announced the launch of a new herbal aromatic chemical named Herbenone. The product is made from natural herbs and flowers such as fresh basil, anise and jasmine and can be used with all types of cosmetics and personal care products.

  • In May 2021, Azelis, a leading global provider of innovation services to the specialty chemicals and food ingredients industry, announced the acquisition of a specialty US manufacturer and ingredient supplier for fragrances, aromas and cosmetics. The acquisition will help the company strengthen its presence in the US flavor and fragrance market.

Some of the major market players presented by Fact.MR are:

  • Bell flavors & Parfums Inc.

  • International Takasago Company

  • Yingyang Flavor and Fragrance Group

  • Fairchem Specialty Limited

  • Zhejiang Newfine Industry Co. Ltd.

  • Wild Flavors and Specialty Ingredients Inc.

  • Sensitive Technology Society

  • Hindustan Mint & Agro Products Pvt. Ltd.

  • Ungerer & Compagnie, Robertet SA

  • Givaudan SA

  • Firmenich AG

  • Bedoukian Research Inc.

  • Aroma Tech Inc.

  • Kao Company

  • Hasegawa Co. Ltd.

  • Tadimety Aromatics Pvt. Ltd.

  • Oriental Aromatics Limited,

  • Dongying Kehong Chemical Co. Ltd.

More valuable information on Aromatic chemicals Marlet

Fact.MR in its new report offers an unbiased analysis of the global Aromatic Chemicals market, analyzing forecast statistics to 2021 and beyond. The survey reveals growth projections for the Aromatic Chemicals market with detailed segmentation:

By provenance

By chemical type

  • Benzenoids

  • Terpenoids

  • Musk Chemicals

  • Other

By application

Key questions addressed in the Aromatic chemicals Market report

  • The market study also highlights the expected sales growth of the Aromatic Chemicals market between 2021 and 2031.

  • Report provides insight into Aromatic Chemicals Demand Outlook for 2021-2031

  • Analysis of the aromatic chemicals market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, collaborations or partnerships, etc.

  • The analysis of the Aromatic Chemicals market identifies key growth drivers, restraints, and other forces impacting the prevailing trends and evaluating the current market size and forecast and technological advancement within industry

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