Pune, India, Feb. 23, 2022 (GLOBE NEWSWIRE) --
The global aroma chemicals market size is expected to showcase a strong growth during the forecast period, attributed to the growing awareness of the importance of personal care. Aroma chemicals are popularly used in cosmetic products, fragrances, perfumes, skincare products, essential oils, detergents, and food & beverages. The rising demand for organic ingredients among customers is likely to augment the production of natural aroma chemicals. The trends that may help the industry share grow are mentioned below:
Asia Pacific (regional valuation may cross 2.5 billion):
High use of terpenoid as a flavoring agent:
The Asia Pacific aroma chemicals market size from terpenoid aroma chemicals is estimated to register more than 6.5% CAGR through 2027. Terpenoids are being widely used as essential oils, flavoring agents, and fragrances in the residential and commercial sectors.
They are also finding widespread applications in herbal medicines and supplements as they have anti-inflammatory and anti-cancer properties. The growing occurrence of chronic diseases, such as cardiovascular ailments, diabetes, and hypertension have increased the demand for herbal supplements, thereby boosting the production of terpenoids in the region.
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Use of aroma chemicals in cosmetics and toiletries grows:
The cosmetic and toiletry applications captured a share worth $350 million in the Asia Pacific market in 2020. Aroma chemicals are gaining traction among cosmetic and toiletry manufacturers as they leave a pleasant odor to hide any foul smell and can enhance a customer’s experience. Some of the popular cosmetic & toiletry products that use aroma chemicals include soaps, shampoos, makeup products, toothpastes, and lotions.
China aroma chemicals market size grows:
China held a significant share of the Asia Pacific market in 2020 as the government is launching various cleanliness initiatives across cities. Moreover, the need for essential cleaning products is growing in the country’s healthcare sector, which will propel the demand for soaps and detergents that use natural aroma chemicals.
North America (regional valuation expected to reach $2.25 billion):
Musk chemicals primarily used in perfumes and fragrances:
The regional industry size from musk aroma chemicals is likely to witness more than 5.5% CAGR through 2026. Musk chemicals are popularly used by fragrance, perfume, and cosmetic product manufacturers as they are focusing on developing products that can enhance their customer’s experience. In addition, the strict regulations placed by governments regarding the extraction of these chemicals from animals has impelled the demand for synthetic musk chemicals.
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Natural aroma chemicals gain traction among customers:
Natural sources are predicted to hold a sizeable share of the market by 2026. Many customers in the U.S. and Canada are increasing their demand for natural ingredients since they are aware of the health hazards of using chemicals in personal care and cosmetic products.
Additionally, the adoption of natural fragrances has increased at a notable rate in recent years to cater to the customer’s demand for organic perfumes, which will have a positive influence on the use of natural aroma chemicals.
Growing application of aroma chemicals in soaps and detergents:
The soap and detergent applications held a share worth $165 million in the North America aroma chemicals market in 2019. Natural and synthetic aroma chemicals are being extensively used in the production of soaps and detergents to render them a good fragrance. Detergents and soaps can not only eliminate harmful germs but also leave a pleasant scent to remove bad odor, which will boost the use of aroma chemicals in these cleaning products.
Europe (regional valuation expected to surpass $2.6 billion):
Demand for musk chemicals grows:
Musk aroma chemicals are likely to hold a share worth $140 million in the European market by 2026, while registering a CAGR of more than 6%. The demand for musk chemicals is growing at a robust rate among customers as they offer a pleasing odor and are used in a variety of cosmetic products, perfumes, fragrances, and skincare products.
Since customers are increasingly demanding skincare products made with organic ingredients, musk chemicals will be popularly used in these items. However, since governments have enforced strict rules and regulations with respect to producing natural musk chemicals, the production of their synthetic variant may pick up the pace across the region.
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Synthetic aroma chemicals widely used in pharma products:
The synthetic sources is anticipated to register over 6% CAGR through 2026. Since synthetic aroma chemicals contain petrochemicals, they have a denser fragrance as compared to the natural ones. Also, the production of essential oils, aromatic products, and fragrances is growing to meet the rising need for a luxurious experience among customers.
Synthetic aroma chemicals are being heavily used in pharmaceutical and cosmetic products, such as fragrances and essential oils, as they have durable and intense aromatic features, which will positively impact their adoption among customers.
Role of aroma chemicals in fine fragrances:
Fine fragrances are estimated to hold a share worth $750 million in the Europe aroma chemicals market by 2026. Some of the popular types of fine fragrances include colognes and perfumes. The millennial generation is splurging on these products due to their rising income level. Furthermore, the demand for personal grooming products is rising among the male population, which will further bolster the use of fine fragrances.
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