Aroma Ingredients Market is expected to reach US$ 7,692.62 Million by 2028

Increased Demand from the Personal Care and Cosmetic Industry to Escalate Aroma Ingredients Market Growth During 2021–2028

According to our latest market study on " Aroma Ingredients Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Synthetic and Natural) and Application (Air Care, Cleaning and Sanitization, Personal Care and Cosmetics, Fine Fragrances and Perfumes, and Others),” the aroma ingredients market was valued at US$ 5376.90 million in 2021 and is projected to reach US$ 7692.62 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players and their progress in the market.

Aroma ingredients refer to a complex fusion of natural as well as synthetic ingredients which is used in various products to provide the desired fragrance. The ingredients are being increasingly used in personal care and cosmetics as well as in fine fragrances and perfumes.

The growing cosmetic industry across the world has led to an increased demand for aroma ingredients.  According to the data from L’oreal, the global cosmetic industry is growing on a yearly basis and in 2019 the industry witnessed a growth rate of 5.5% as compared to 2018. According to Cosmetics Europe, the personal care association, in 2019, the European cosmetic market grew from US$ 89.30 in 2018 to US$ 90.66 in 2019. Thus, the growing cosmetic industry has led to an increased demand for products such as creams, and lotions providing desired fragrance or aroma. Thus, the growing cosmetic industry along with the change in consumers’ perception about the use of fragrance in cosmetic and personal care products is driving the growth of the market across the world.

Takasago International Corporation; BASF SE; Firmenich S.A.; Givaudan S.A.; International Flavors & Fragrances Inc.; Robertet Group; Symrise; Mane; Zhejiang NHU Co., Ltd.; and Phoenix Aromas & Essential Oils, LLC; are among the well-established players constituting the majority of aroma ingredients market share.

Impact of COVID-19 Pandemic on Aroma Ingredients Market

The COVID-19 pandemic negatively impacted the chemicals and materials industry with the shutdown of manufacturing facilities, difficulty in procuring raw materials and components, and restrictions on logistic operations. The disruptions in the supply of raw materials to manufacturers hampered aroma ingredients’ production. However, during the pandemic, the demand for aroma ingredients increased due to consumers becoming more and more health-conscious. The demand for personal hygiene and home care products had increased and is expected to rise further due to the growing awareness among consumers in the wake of the COVID-19 pandemic. The fragrance companies are producing essential components for sanitary, hygiene, and disinfecting products, which are recognized as vital products in combating viral pathogens.

Aroma Ingredients Market Size, by Region, 2021–2028

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Aroma Ingredients Market Share and Industry Analysis by 2028

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Aroma Ingredients Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Synthetic and Natural) and Application (Air Care, Cleaning and Sanitization, Personal Care and Cosmetics, Fine Fragrances and Perfumes, and Others)

The "Global Aroma Ingredients Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global aroma ingredients market trend analysis. The report aims to provide an overview of the market with detailed aroma ingredients market segmentation. The aroma ingredients market is segmented on the basis of product type, application, and geography. Based on product type, the market is segmented into natural and synthetic. Based on application, the aroma ingredients market is segmented into air care, cleaning and sanitization, personal care and cosmetics, fine fragrances and perfumes, and others. Based on geography, the market is segmented into five main regions North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.