Aroma Ingredients Market Share and Forecast by 2028

The aroma ingredients market was valued at US$ 5376.90 million in 2021 and is projected to reach US$ 7692.62 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028.

Aroma ingredients are basically complex compounds that are added to cosmetics and personal care as well as home care and other products to impart desired fragrance. The aroma ingredients can be natural or synthetic. The aroma ingredients include essential oils, attar, isolates, oleoresins, absolutes, aroma chemicals, and special aroma ingredients among others. The transitioning personal care and cosmetics industry has provided numerous new growth opportunities for the aroma ingredients market and is expected to drive the market over forecast period.

In 2020, Asia Pacific dominated the global aroma ingredients market and is expected to retain its dominance during the forecast period. In recent years there has been an increased consciousness regarding personal appearance among individuals in the Asia Pacific region which has led to increasing demand for cosmetic products resulting in the growth of the cosmetic market in the region. The desire for a presentable personal image among Asian consumers has led to an increased awareness of personal hygiene habits. The consumer’s growing concern about their health and hygiene has led to an increased demand for personal care, cosmetics as well as cleaning, and sanitization products providing fragrance or aroma, in turn, leading to increased demand for aroma ingredients. Moreover, Asia-Pacific consists of countries such as India and China that have turned into manufacturing hubs for numerous end-use markets that utilize aroma ingredients. The growing population in developing countries of Asia-Pacific along with the rising disposable income have led to increased demand for personal care and cosmetic products. The demand has led to higher domestic production of personal care products resulting in increased consumption of aroma ingredients in the region.

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Aroma Ingredients Market: Strategic Insights

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Market Insights

Various Application of the Aroma Ingredient

The increased usage of aroma ingredients in various applications such as air care, fine fragrance and perfumes, household products, food and beverage, and pharmaceutical is leading to an increased demand for aroma ingredients. Fine fragrances include major application fields, such as perfumes, colognes, body mists, and deodorants. Aroma ingredients are one of the essential elements used in formulations of fine fragrances. Along with this, aroma ingredients are being used in household products such as cleaners, hand and dishwashing liquids, laundry care and fabric softeners, wipes, and aqueous dyes. Thus, an increased application of aroma ingredients will drive the growth of the aroma ingredient market.

Product Type Insights

Based on product type, the aroma ingredients market is segmented into natural and synthetic. In 2020, the natural segment was the fastest-growing segment in the aroma ingredient market. The increase in the health concerns related to synthetic chemicals has led to increased demand for natural aroma ingredients from the consumers. However, the synthetic aroma ingredients are comparatively easier to produce on a large scale while maintaining the same quality throughout all the batches. The consistent quality of synthetic ingredients has therefore resulted in larger market share due to expansive use especially in fast moving consumer goods industry.

Takasago International Corporation; BASF SE; Firmenich S.A.; Givaudan S.A.; International Flavors & Fragrances Inc.; Robertet Group; Symrise; Mane; Zhejiang NHU Co., Ltd.; and Phoenix Aromas & Essential Oils, LLC; are among the key players operating in the aroma ingredients market. The leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.  

Aroma Ingredients Market Regional Insights

The regional trends and factors influencing the Aroma Ingredients Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aroma Ingredients Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Aroma Ingredients Market Report Scope

Aroma Ingredients Market Players Density: Understanding Its Impact on Business Dynamics

The Aroma Ingredients Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Aroma Ingredients Market are:

1. Takasago International Corporation
2. BASF SE
3. Firmenich S.A.
4. Givaudan S.A.
5. International Flavors & Fragrances Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Report Spotlights

• Progressive trends in the aroma ingredients industry to help players develop effective long-term strategies
• Business growth strategies adopted by companies to secure growth in developed and developing markets
• Quantitative analysis of the global aroma ingredients market from 2019 to 2028
• Estimation of the demand for aroma ingredients across various industries
• Porters analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
• Recent developments to understand the competitive market scenario and the demand for the aroma ingredients  
• Market trends and outlook coupled with factors driving and restraining the growth of the aroma ingredients market
• Understanding regarding the strategies that underpin commercial interest with regard to the global aroma ingredients market growth, aiding in the decision-making process
• Aroma ingredients market size at various nodes of market
• Detailed overview and segmentation of the global aroma ingredients market as well as its industry dynamics
• Aroma Ingredients market size in various regions with promising growth opportunities

The "Global Aroma Ingredients Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global aroma ingredients market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The aroma ingredients market is segmented on the basis of product type, application, and geography. Based on product type, the market is segmented into natural and synthetic. Based on application, the market is segmented into air care, cleaning and sanitization, personal care and cosmetics, fine fragrances and perfumes, and others. Based on geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.

Company Profiles

• Takasago International Corporation
• BASF SE
• Firmenich S.A.
• Givaudan S.A.
• International Flavors & Fragrances Inc.
• Robertet Group
• Symrise
• Mane
• Zhejiang NHU Co., Ltd.
• Phoenix Aromas & Essential Oils, LLC.