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(IT-NEWSWIRE.COM, March 26, 2020 ) Market Overview
The Global Aroma Ingredients Market is expected to grow at a CAGR of 4.6% during the forecasting period (2019-2026).
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. By application, the aroma ingredients market is segmented into cosmetics, fine fragrances, home care products, and food industry. By type, the aroma ingredients market is segmented into synthetic ingredients and natural ingredients. 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.
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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. Adding to this, increasing demand for specialty cosmetic ingredients from skincare and hair care applications also plays a key factor in market growth. With greater preference for products with high-quality ingredients, manufacturers of cosmetic and personal care products are focusing on R&D of new and improved range of products. For instance, BASF reveals exciting new additions to its aroma ingredients portfolio. Methylionone 70 and dihydrorosane are outstanding ingredients for fragrance compositions launched by BASF SE.
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. The global aroma ingredients market size by application was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. 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. The global aroma ingredients market size by type was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Geographical Analysis
The Asia Pacific aroma ingredients market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. 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.
Players are focusing to produce a broad variety of fragrances, which build a high demand for aroma ingredients in the region. Adding to this companies are also focusing to extend their market shares worldwide by acquiring the companies. For instance, ASCC Enterprises Pte Limited has announced the successful purchase of 80% shares in Singapore-based Taytonn Pte Ltd. The company is a supplier to Flavour & Fragrance customers in 18 Asia Pacific markets, stocking and distributing a comprehensive range of aroma chemicals, essential oils, isolates, and extracts.
Competitive Landscape
The Aroma Ingredients market is highly competitive with existing players in the market.
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.
Companies are focusing to extend their market shares worldwide by acquiring the companies.
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.
For instance, ASCC Enterprises Pte Limited has announced the successful purchase of 80% shares in Singapore-based Taytonn Pte Ltd. The company is a supplier to Flavour & Fragrance customers in 18 Asia Pacific markets, stocking and distributing a comprehensive range of Aroma Chemicals, Essential Oils, Isolates, and Extracts.
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Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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