A recent report published by Infinium Global Research on aroma ingredients market provides an in-depth analysis of segments and sub-segments in the global as well as regional aroma ingredients market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional aroma ingredients market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global aroma ingredients market. According to the report, the global aroma ingredients market is projected to grow at a CAGR of 4.3% over the forecast period of 2018-2024.
Aroma Ingredients are the materials that are added to products to give them a unique aroma. These ingredients are widely used in cosmetics, toiletries, spray perfumes, home care skin care and hair products. Aroma ingredients consist of natural and synthetic substances. Aroma ingredients are extracted from fruits, flowers and herbs & shrubs.
Growing demand for consumer care and personal care products promote the growth of aroma ingredients market. Personal care industry is one of the major application industry for the aroma ingredients market. The aroma is the key factor that makes people buy it. This explains the importance of aroma ingredients for the industry. Around 3,000 aroma ingredients are used in fragrance formulations. Moreover, consumers’ preference towards natural ingredients coupled with the growing demand for air fresheners such as room fresheners, car air fresheners has driven the overall growth of the global aroma ingredients market. Furthermore, growing awareness about aromatherapy owing to the changing living of standard led the market growth.
Moreover, The use of fragrance to make consumers feel pleasant, bright and happy, Product safety and regulatory approval and growing use aroma ingredients in household products includes scent candles and sticks are some factors contribute to the growth of this market. However, strict government regulation related to the use of aroma ingredients and growing health concerns regarding skin diseases could restrain the growth of aroma ingredients market. Furthermore, major leading players are concentrate on developing and launching new aroma ingredients have a positive impact on the growth of the market during the forecast period. High growth potential from emerging economies and product innovations by the perfumery industry and cosmetics manufacturers are considered to be growth opportunities for the aroma ingredients market.
Europe is considered to be the largest region in aroma ingredients market due to the presence of leading manufacturers of aroma ingredients. Europe is a world leader in the cosmetics industry and dominant cosmetics exporter. In the Europe region, Germany, France, Italy, and the U.K are the major contributors to the aroma ingredients market. The Europe cosmetic industry is highly innovative. The European Commission Cosmetics Directive (ECCD) and other government bodies have implemented regulations on the manufacture and use of personal care products. The Asia Pacific region is expected to have a faster growth rate in the aroma ingredients market due to improving the standard of living and increasing manufacturing industries. The Middle East & Africa and North America region are expected to be the significant growth rate in this market during the forecast period.
The report on global aroma ingredients market covers segments such as type and application. On the basis of type, the sub-markets include natural ingredients and synthetic ingredients. On the basis of application, the sub-markets include cosmetics, fine fragrances, and toiletries.
The report provides profiles of the companies in the market such as International Flavors & Fragrances Inc., Firmenich SA, Givaudan, Frutarom, T. Hasegawa Co., Ltd., Robertet SA, BASF, Sensient Technologies Corporation, Takasago International Corporation, and Symrise.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of aroma ingredients market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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