Aroma Chemicals Market
REPORT
Aroma Chemicals Market – Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2016 – 2024
The competitive landscape in the global aroma chemicals market is highly consolidated, states a new
report by Transparency Market Research (TMR). The top four participants, namely, Givaudan,
Firmenich SA, Symrise, and IFF, held around 54% of the overall market in 2015. These companies
are investing heavily in research activities in order to develop technologically advanced products.
Going forward, a shift in their focus towards mergers, acquisitions, and strategic alliances can be
observed in the years to come, states the report.
As per the report’s estimations, the global aroma chemicals market, which stood at US$3.85 bn in
2015, is anticipated to rise at a CAGR of 6.20% over the period from 2016 to 2024 and reach a
valuation of US$6.57 by the end of the forecast period. Benzenoids have emerged as the most
valued product in this market and are anticipated to remain enjoying a strong demand across the
world over the next few years, notes the market study.
Browse Market Research Report @ http://www.transparencymarketresearch.com/aroma-
chemicals-market.html
Demand for Synthetic Aroma Chemicals to Remain High
In this research report, aroma chemicals have broadly been classified into two types; Natural and
synthetic. Among the two, the demand for synthetic aroma chemicals is greater among consumers.
Although analysts expect the trend to remain so over the forthcoming years, the demand for natural
aroma chemicals is likely to demonstrate a high-paced rise during the period of the forecast, thanks to
their increasing popularity as a safer, greener, therapeutic, and more sustainable alternative to
synthetic aroma chemicals.
The report further presents a geographical analysis of the worldwide market for aroma chemicals.
According to the study, the global market has its presence across North America, Europe, the Middle
East and Africa, Asia Pacific, and Latin America. Europe led the overall market in 2015 with a share of
33.3% and is anticipated to maintain its dominance throughout the period of the forecast. Asia Pacific,
among other regional markets, is expected to display promising growth potential in the near future,
states the research report.
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