Aroma Chemicals Market
REPORT DESCRIPTION
Aroma Chemicals Market (Type - Natural and Synthetic; Product -
Terpenoids, Benzenoids, and Musk Chemicals; Application - Personal
Care, Household Care, Medical, and Food & Beverages) - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 –
2024
The top four players in the global aroma chemicals market held nearly 54% share in 2015,
rendering its vendor landscape consolidated. Givaudan, Symrise, IFF, and Firmenich SA constitute
the leading market players. Constant effort of these companies towards technological innovations,
has resulted in low processing cost and high quality products, finds Transparency Market Research
(TMR) in a new study. Besides this, investment in research and development is escalating, creating
lucrative opportunities for the market’s growth.
The global aroma chemicals market is forecast to exhibit a CAGR of 6.2% between 2016 and 2024.
At this pace, the market’s valuation will reach US$6.57 bn by 2024, from US$3.85 bn in 2015.
Europe to Remain Dominant Regional Market for Aroma Chemicals
Among the key application segments, which include personal care, household care, and others, the
personal care segment held the dominant share of 47.2% in the market in 2015. While its dominance
will remain unaffected through the forecast period, the market is also expected to tread along a
positive curve in the household care segment.
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Regionally, North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa
constitute the key market segments. Europe emerged as the region holding the largest share of
33.3% in the global market in 2015. Besides this, Asia Pacific is demonstrating lucrative opportunities
for the market players. During the forecast period, the CAGR witnessed by the market in Asia Pacific
is expected to remain higher than other regions.
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