USD 5.57 billion
Aroma Ingredients Market Size, Share, Growth Analysis, By Type(Synthetic and Natural aroma ingredients), By Application(Cosmetics, Food and beverages, and Household products), By Source(Botanical, Animal, and Chemical origins), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2317 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
88
|Figures:
76
Aroma Ingredients Market Insights
Global Aroma Ingredients Market size was valued at USD 5.57 billion in 2022 and is poised to grow from USD 5.80 billion in 2023 to USD 8 billion by 2031, at a CAGR of 4.1% during the forecast period (2024-2031).
The global aroma ingredients market is experiencing robust growth driven by increasing consumer demand for scented products across industries such as perfumes, cosmetics, and food.
As consumers place a greater emphasis on sensory experiences, manufacturers are focusing on developing innovative and high-quality aroma ingredients derived from natural sources.
This trend towards natural and sustainable ingredients is shaping the market landscape, with a strong emphasis on transparency and traceability.
Additionally, advancements in biotechnology and fragrance creation techniques are further fueling market expansion.
However, regulatory challenges and potential supply chain disruptions remain key considerations for industry players navigating this dynamic and evolving market.
US Aroma Ingredients Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Botanical
Fastest Growth
Animal
Growth Rate
4.1% CAGR
Global Aroma Ingredients Market ($ Bn)
Country Share for North America(%)
To get more reports on the above market click here to Buy The Report
Aroma Ingredients Market Segmental Analysis
The global aroma ingredients market can be segmented based on type, source, application, and region. Types include synthetic and natural aroma ingredients, sourced from botanical, animal, or chemical origins. Applications span across cosmetics, food and beverages, and household products. Geographically, the market is divided into regions like North America, Europe, Asia-Pacific, and Rest of the World.
Aroma Ingredients Market Analysis By Type
The largest sector is currently the natural ingredients category, driven by the rising demand for clean labels and natural products in the fragrance and flavor industries. Consumers' increasing preference for authentic and sustainable options has propelled the growth of this sector. Meanwhile, the fastest-growing sector in the aroma ingredients market is the synthetic ingredients category. Advancements in fragrance technology have led to the development of high-quality synthetic scents that closely resemble natural aromas.
Aroma Ingredients Market Analysis By Application
The largest sector is the personal care and cosmetics industry, encompassing products such as perfumes, lotions, shampoos, and cosmetics. This sector benefits from the consistent demand for scented and fragrant products, driven by changing consumer preferences and the desire for enhanced sensory experiences. On the other hand, the fastest growing sector is the food and beverage industry.
Aroma Ingredients Market Analysis By Source
The largest sector is the natural aroma ingredients segment. This growth is attributed to increasing consumer demand for clean-label and natural products, as well as a growing awareness of health and environmental concerns. Natural aroma ingredients, sourced from botanicals, fruits, spices, and other natural substances, are favored for their perceived authenticity and sustainability. On the other hand, the fastest-growing sector is the synthetic aroma ingredients segment. This expansion is driven by advancements in fragrance technology, enabling manufacturers to create complex and unique scents that cater to diverse consumer preferences.
Global Aroma Ingredients Market by Source
To get detailed analysis on other segments, Request For Free Sample Report
Aroma Ingredients Market Regional Insights
The global aroma ingredients market exhibits diverse regional dynamics. In North America, a penchant for natural and organic products drives demand, while Europe emphasizes sustainable sourcing and premium fragrances. Asia-Pacific showcases rapid growth propelled by rising disposable incomes and a burgeoning cosmetics industry. Latin America experiences steady expansion due to a growing consumer base, while the Middle East and Africa prioritize luxury scents. These distinct regional preferences, alongside evolving consumer trends, collectively shape the aroma ingredients market on a global scale.
Global Aroma Ingredients Market by Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Aroma Ingredients Market Dynamics
Aroma Ingredients Market Drivers
Rising Demand for Natural and Organic Products
- With increasing consumer awareness about health and environmental concerns, there's a growing demand for natural and organic aroma ingredients derived from botanical sources. Consumers are seeking products with fewer synthetic chemicals, which has led to the development and market growth of natural aroma ingredients.
Expanding Applications in Various Industries
- Aroma ingredients are used in a wide range of industries including food and beverages, cosmetics, personal care, home care, and more. As these industries continue to innovate and introduce new products, the demand for aroma ingredients also grows. For example, the trend of incorporating unique and appealing scents in personal care and home care products has contributed to the expansion of the aroma ingredients market.
Aroma Ingredients Market Restraints
Regulatory Challenges and Safety Concerns
- The aroma ingredients market is subject to rigorous regulations and safety standards, particularly in industries like food, cosmetics, and personal care. The use of certain aroma ingredients may be restricted or banned due to safety concerns or potential health risks. Compliance with these regulations can pose challenges and limit the market's growth.
Fluctuating Prices of Raw Materials
- Many aroma ingredients are derived from natural sources, which can be influenced by factors such as weather conditions, crop yields, and geopolitical events. Fluctuations in the availability and prices of these raw materials can impact the production costs of aroma ingredients, potentially leading to supply chain disruptions and affecting market growth.
Request Free Customization of this report to help us to meet your business objectives.
Aroma Ingredients Market Competitive Landscape
The global aroma ingredients market boasts a dynamic competitive landscape, characterized by numerous established players and emerging entrants. Key industry participants engage in continuous research and development efforts to introduce innovative and sustainable aroma solutions, catering to diverse consumer preferences. Collaborations, acquisitions, and strategic partnerships are prevalent strategies to expand market presence and leverage technological advancements. Regulatory compliance, quality assurance, and eco-friendly practices remain focal points, driving differentiation and consumer trust. With evolving market trends and growing demand for natural and synthetic aroma ingredients across various industries, competition intensifies as companies vie for market share, striving to offer compelling olfactory experiences on a global scale.
Aroma Ingredients Market Top Player’s Company Profiles
- Givaudan - Switzerland
- Firmenich - Switzerland
- IFF (International Flavors & Fragrances) - United States
- Symrise - Germany
- Takasago International Corporation - Japan
- Mane - France
- Robertet - France
- Sensient Technologies Corporation - United States
- Bell Flavors & Fragrances - United States
- V. MANE FILS SA - Switzerland
- Frutarom (part of IFF) - Israel
- T. Hasegawa Co., Ltd. - Japan
- Bedoukian Research, Inc. - United States
- Kerry Group - Ireland
- BASF SE (Aroma Chemicals division) - Germany
- Yingyang (China) Aroma Chemical Group - China
- Vigon International - United States
- Axxence Aromatic GmbH - Germany
- Comax Flavors - United States
- Takasago International (U.S.A.) - United States
Aroma Ingredients Market Recent Developments
-
In January 2024, Sensegen, a pioneer in biotech-empowered fragrance solutions, uncovered a strategic partnership with Takasago, an eminent leader in the flavor and aroma industry. This joint effort denotes a critical progression in fragrance creation driven by biotechnology development.
-
In February 2024, Baccarose collaborated with Alexandre.J to acquire French elegance for fragrance fans in India.
-
In December 2023, Inter Parfums, Inc. (IPAR) is flourishing in the developing fragrance market because of its solid brands and effective item dispatches. The organization expects to expand its portion of the overall industry further through new licenses or acquisitions. However, it faces difficulties from increasing costs in the business.
Aroma Ingredients Key Market Trends
- Consumers were increasingly seeking products with natural and clean label ingredients. This trend was driving the demand for aroma ingredients derived from natural sources such as essential oils, botanical extracts, and plant-based materials. Manufacturers were responding to this trend by formulating products with fewer synthetic additives and more naturally derived aroma ingredients.
- The aroma ingredients industry was moving towards more sustainable and traceable sourcing practices. This trend was fueled by growing consumer awareness of environmental and social issues. Companies were focusing on sourcing aroma ingredients responsibly, supporting local communities, and ensuring transparency in their supply chains. Certifications like Fair Trade and organic were becoming more important for both producers and consumers.
- Customization and personalization were gaining traction in the aroma ingredients market. Consumers were looking for unique and tailored scent experiences in various products, including perfumes, cosmetics, and household products. As a result, manufacturers were exploring ways to offer customizable aroma options, allowing consumers to create their own fragrance blends or choose from a range of unique scents.
Aroma Ingredients Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global aroma ingredients market holds promising prospects driven by the growing demand for fragrances and flavors across various industries such as cosmetics, food and beverages, and household products. As consumers continue to seek unique sensory experiences, the market is expected to witness sustained growth. Advances in biotechnology and extraction techniques are likely to enhance the production of natural aroma ingredients, aligning with the rising preference for clean label and natural products. Additionally, the expansion of e-commerce platforms and increased disposable income in emerging economies are projected to bolster market growth by widening the consumer base. Regulatory shifts towards sustainable and environmentally friendly sourcing practices are also anticipated to shape the market landscape. Overall, the aroma ingredients market is poised for expansion, driven by evolving consumer preferences, technological innovations, and industry regulations.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.57 billion |
| Market size value in 2031 | USD 8 billion |
| Growth Rate | 4.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Aroma Ingredients Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Aroma Ingredients Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Aroma Ingredients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aroma Ingredients Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aroma Ingredients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aroma Ingredients Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
