Aroma Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2026

Aroma Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2026

Aroma chemical, perceived as an invaluable group of molecules used in flavors and fragrance composition, has become one of the most marketable compounds in food and beverages, cosmetics, soap and fine fragrances sectors.

Consisting of natural, natural-identical and artificial molecules, manufacturers are emphasizing sustainability and enzymatic microbial developments in the biotech landscape. While there are consumer safety, risk, and environmental compatibility involved, aroma chemicals are an ideal compound for expanding the portfolio.

In the latest research report compiled by Global Market Insights, Inc., aroma chemicals market size is slated to grow robustly by 2026.

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Drivers: Gaining grounds in food and beverage sector

Aroma chemicals have been become a highly sought-after compound in the production of flavorant that is used in the food and beverage industry to boost and enhance the appeal of the products. As such, demand for aroma chemicals in essential oils, fragrance oils, food, wine and spices has become more pronounced in recent years.

Accordingly, use of aroma compounds such as esters, ketones, amines and aldehydes has surged in food and beverage products, thereby fueling growth in aroma chemicals industry.

Trends: Synthetic ingredient

Lately, synthetic ingredient been gaining impetus as a compelling trend owing to its convenient availability and comparatively lower costs as compared to natural molecules. Prominently, synthetic aroma chemicals are being used to mirror the scent of natural foods for snacks, candies and carbonated sodas.

While end-users continue to exhibit traction towards natural products in a slew of industries, fragrance, risk of skin sensitivities, and allergies have meant manufacturers are cashing in on synthetic aroma chemicals.

It is worth noting that manufacturers are investing in synthetic aroma chemicals to reproduce a strong natural scent without compromising on quality. Synthetic aroma chemicals may grow at a healthy CAGR of over 6% through 2026.

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Opportunities: investment in Latin America

Forward-looking companies are eyeing to inject funds in South American countries such as Brazil where availability of cheap labor and low cost of raw materials have instilled confidence among stakeholders. Global Market Insights, Inc., projects Latin America aroma chemicals market to grow steadily at a compound annual growth rate of over 4% through 2026.

Prominent companies envisage Asia Pacific as an investment hub as they look for product launches and mergers & acquisitions. Emerging economies such as India and China are witnessing traction for food and beverage industry and cosmetics, thereby showcasing positive business outlook in aroma chemicals market.

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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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