(Food-Beverage-News.Com, October 22, 2019 ) Market Overview: The aroma is a term for ingredient labeling used to identify that a product contains material or combination of materials normally added to a cosmetic to produce or to mask a particular flavor. Aroma ingredients are majorly used in fine fragrances and household products worldwide. Asia Pacific is expected to grow with high CAGR rate in the forecast period owing to the rapid industrialization and increasing population & their standard of livings.
Market Dynamics: Rising demand for natural aroma ingredients worldwide and increasing consumption of personal care products are the major driving factors for the growth of the market. Demand is increasing for conditioning polymers in the different types of specialty cosmetic ingredients available in the market.
However, Stringent government regulations are the key restraint hampering market growth.
Market Segmentation: By application, the aroma ingredients market is segmented into cosmetics, fine fragrances, home care products, and food industry. Fine fragrance is expected to grow with high CAGR rate in the forecast period. Fine fragrance involves perfumes and colognes. It is a general term for products diluted with alcohol. When applied, fine fragrance can change one's mood, and also asserts one's uniqueness.
Deodorants, perfumes, body mists and colognes are the major applications of fine fragrances for the aroma ingredients market. Companies are focusing to extend their market share. For instance, In April 2019, PLZ Aeroscience Corporation has acquired Precise packaging from Trive Capital. Precise Packaging is a leading manufacturer of fine fragrances, hair care products, linen sprays, anti-itch sprays, etc.
By type, the aroma ingredients market is segmented into synthetic ingredients and natural ingredients.
Geographical Analysis: Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
Asia Pacific is expected to grow with a high CAGR rate in the forecast period owing to the rapid industrialization and increasing population & their standard of livings. China, India, Japan, South Korea, Singapore, and Australia are the major countries driving the growth of the market. The presence of leading manufacturers of aroma ingredients and personal care products in this region is also the major driving factor for the market growth.
Competitive Analysis: Some of the major players include BASF SE, International Flavors & Fragrances Inc., Robertet SA, Takasago International Corporation, Yingyang Aroma Chemical Group, Firmenich SA, Symrise, Bel Flavors & Fragrances, Kao Corporation, and Givaudan.
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