The global aroma chemicals market is expected to register high growth over the forecast period. Aroma chemicals, also known as fragrances and odorants are chemical compounds which consist of odor or smell. These compounds are volatile enough to travel through the olfactory system of the nose and cause odor. Unlike flavors which affect smell and taste, fragrances affect only smell. The nature of fragrances tends to be synthetic. Aroma chemicals can be found in food, wine, spices, essential oils, perfumes and fragrance oils. Most of the aroma chemicals are formed biochemically during the ripening process of fruits and crops. These compounds have a considerable role in the manufacture of flavorants which are used in food preparation to improve flavor. On the basis of structural composition, aroma chemicals can be classified into esters, amines, linear terpenes, cyclic terpenes, and aromatic. Aroma chemicals are widely added in odorizers to give a distinct smell to odorless gases, such as propane, hydrogen and natural gas, as a warning.
Global market for aroma chemicals is expected to grow considerably owing to growing markets in Asia and South America. Growing demand for foods, cosmetics, personal care and household care products is expected to be the major driving factor for the growth of aroma chemicals market. Asia Pacific is expected to be the fastest growing regional market for aroma chemicals. Huge domestic consumption of aroma chemicals in India is expected to be the key driver of the market in this region. Additionally, increasing disposable income and rapid urbanization have increased the demand for processed foods and cosmetics, which in turn is expected to propel the demand for aroma chemicals in the region.
Aroma chemicals market is expected to grow rapidly over the forecast period owing to growing demand for foods, cosmetics, personal care and household care products.The market for aroma chemicals in South America is expected to grow significantly on account of growing economic scenario in countries such as Brazil, Argentina and Venezuela. Rising income levels in the region is expected to propel the demand for food, cosmetics and personal care products, which consequently is expected to drive the growth of the aroma chemicals market.
Some of the major participants in the global aroma chemicals market include BASF, Silverline Chemicals Ltd, Hindustan Mint & Agro Products Pvt. Ltd., Veera Fragrances Pvt. Ltd., J. K. Fragrances, U.S. Chemicals LLC, Kalpasutra Chemicals Pvt. Ltd., Takasago and Hindustan Polyamides & Fibres Ltd.
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The sudden rise of COVID-19 to a pandemic level has severely impacted the demand patterns of cosmetics and also certain categories of personal care products. Furthermore, policies across the globe restricting the movement of people have also led to disruptions in the supply of personal care products. The availability of e-commerce platforms during these times has, however, offset the disruptions caused in the last-mile supply of customer purchases. From manufacturing stand, production stoppages due to the pandemic shall cast considerable stress on operational costs. The report will account for Covid19 as a key market contributor.