Aroma Chemical Market - Global Aroma Chemical Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, By Chemicals Coverage, By Application Coverage, By Geographic Coverage and By Company)

Description

The global aroma chemicals market, currently valued at approximately $5.5 billion in 2023, is projected to reach $7.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.5% between 2023 and 2030. This growth is driven by increasing consumer demand for aroma chemicals in various industries such as cosmetics, toiletries, soaps, food, and beverages.

Key Market Drivers

One of the key trends propelling market growth is the rising demand for natural aroma chemicals. Consumers are increasingly opting for natural and organic products due to growing health consciousness and awareness about the adverse effects of synthetic chemicals. This shift is particularly evident in the cosmetics and personal care sectors, where the use of natural ingredients is becoming more prevalent.

The market is also being fueled by the growing consumption of aroma chemicals in the food and beverage industry. Aroma chemicals are essential for enhancing the flavor and fragrance of food products, making them more appealing to consumers. The demand for processed foods and beverages is rising, driven by increasing disposable incomes and changing lifestyles.

The development of new fragrance formulations, especially those incorporating sulfur-containing compounds, is another factor contributing to market growth. These innovations allow manufacturers to create novel flavors and scents, offering a diverse range of options to consumers.

Market Challenges

Despite the positive outlook, the aroma chemicals market faces several challenges. The potential health effects of synthetic chemicals used in fragrances are a significant concern. Approximately 95% of these synthetic chemicals are derived from petroleum-based substances, which are known to pose health risks such as allergies, asthma, and even cancer. This has led to increased regulatory scrutiny and could impede market growth.

The high cost of natural aroma chemicals is another challenge. The extraction process for natural chemicals is often complex and expensive, making them less competitive compared to synthetic alternatives. Additionally, stringent regulations governing the use of certain aroma chemicals further complicate the market Analysis.

Emerging Trends and Opportunities

The demand for natural products, especially in the cosmetics and personal care sectors, presents significant growth opportunities for the aroma chemicals market. Increased consumer awareness about the adverse effects of synthetic chemicals has led to a surge in demand for natural fragrance chemicals derived from organic sources such as plants and animals.

Technological advancements in the manufacturing process are also creating new opportunities. Innovations in extraction technologies and the development of eco-friendly and cleaner production methods are enhancing the manufacturing capabilities of aroma chemicals. Companies are increasingly adopting sustainable practices, integrating waste recycling, and reducing emissions to minimize their environmental impact.

The utilization of essential oils in aromatherapy is another emerging trend. Aromatherapy, a traditional holistic healing approach, is gaining popularity for its therapeutic benefits. The use of natural aromatic ingredients in aromatherapy is expected to drive significant growth in the aroma chemicals market in the coming years.

Regional Market Leaders

The Asia Pacific region is anticipated to account for the largest share of the global aroma chemicals market. This growth is driven by the expanding food and beverages sector, where aroma chemicals are widely used. The region's increasing disposable incomes and changing consumer preferences are also contributing to market growth.

North America is also expected to witness significant growth in the aroma chemicals market. The growing demand for cosmetics and personal care products, coupled with the increasing consumption of low-fat food and beverages, is driving market expansion. The high prevalence of obesity in the US and the rising interest in low-calorie food options are further boosting the demand for aroma chemicals.

Competitive Analysis

The global aroma chemicals market is highly competitive, with key players focusing on product innovation, sustainability initiatives, and strategic partnerships to gain market dominance. Some of the leading companies in the market include BASF SE, Givaudan, Firmenich SA, Symrise AG, International Flavours & Fragrances Inc. (IFF), Takasago International Corporation, Solvay SA, Robertet Group, Sensient Technologies Corporation, and Kao Corporation.

These companies are investing heavily in research and development to create new aroma compounds that align with changing consumer preferences. Sustainability is also a major focus, with many companies adopting eco-friendly production methods and reducing their environmental footprint.

The global aroma chemicals market is poised for significant growth in the coming years, driven by increasing consumer demand for natural products, technological advancements in manufacturing, and the expanding food and beverage sector. Despite the challenges posed by the high cost of natural chemicals and regulatory scrutiny, the market offers numerous opportunities for innovation and expansion. With key players investing in research and development and sustainability initiatives, the aroma chemicals market is set to thrive and reach new heights by 2030.

Market Key Players:

BASF SE
Givaudan
Firmenich SA
Symrise AG
International Flavours & Fragrances Inc. (IFF)
Takasago International Corporation
Solvay SA
Robertet Group
Sensient Technologies Corporation
Kao Corporation

Market Segmentation:

By Type:

Natural
Synthetic

By Chemicals:

Benzenoids
Musk Chemicals
Terpenes & Terpenoids
Misc (Ketones, Esters, Aldehydes)

By Application:

Food and Beverages
Fine Fragrances
Cosmetics and Toiletries
Soaps and Detergents
Misc

By Geographic Coverage:

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Turkey
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Egypt
- Nigeria
- Rest of the Middle East & Africa

1. Executive Summary

1.1. Global Aroma Chemical Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2022
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Aroma Chemical Market Outlook, 2018 - 2030

3.1. Global Aroma Chemical Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 3.1.1. Key Highlights
  - 3.1.1.1. Natural
  - 3.1.1.2. Synthetic
3.2. Global Aroma Chemical Market Outlook, by Chemical, Value (US$ Mn), 2018 - 2030
- 3.2.1. Key Highlights
  - 3.2.1.1. Benzenoids
  - 3.2.1.2. Musk Chemicals
  - 3.2.1.3. Terpenes & Terpenoids
  - 3.2.1.4. Misc (Ketones, Esters, Aldehydes)
3.3. Global Aroma Chemical Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 3.3.1. Key Highlights
  - 3.3.1.1. Food and Beverages
  - 3.3.1.2. Fine Fragrances
  - 3.3.1.3. Cosmetics and Toiletries
  - 3.3.1.4. Soaps and Detergents
  - 3.3.1.5. Misc
3.4. Global Aroma Chemical Market Outlook, by Region, Value (US$ Mn), 2018 - 2030
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Latin America
  - 3.4.1.5. Middle East & Africa

4. North America Aroma Chemical Market Outlook, 2018 - 2030

4.1. North America Aroma Chemical Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 4.1.1. Key Highlights
  - 4.1.1.1. Natural
  - 4.1.1.2. Synthetic
4.2. North America Aroma Chemical Market Outlook, by Chemical, Value (US$ Mn), 2018 - 2030
- 4.2.1. Key Highlights
  - 4.2.1.1. Benzenoids
  - 4.2.1.2. Musk Chemicals
  - 4.2.1.3. Terpenes & Terpenoids
  - 4.2.1.4. Misc (Ketones, Esters, Aldehydes)
4.3. North America Aroma Chemical Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 4.3.1. Key Highlights
  - 4.3.1.1. Food and Beverages
  - 4.3.1.2. Fine Fragrances
  - 4.3.1.3. Cosmetics and Toiletries
  - 4.3.1.4. Soaps and Detergents
  - 4.3.1.5. Misc
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Aroma Chemical Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S. Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 4.4.1.2. U.S. Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 4.4.1.3. U.S. Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 4.4.1.4. Canada Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 4.4.1.5. Canada Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 4.4.1.6. Canada Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
- 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Aroma Chemical Market Outlook, 2018 - 2030

5.1. Europe Aroma Chemical Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Natural
  - 5.1.1.2. Synthetic
5.2. Europe Aroma Chemical Market Outlook, by Chemical, Value (US$ Mn), 2018 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Benzenoids
  - 5.2.1.2. Musk Chemicals
  - 5.2.1.3. Terpenes & Terpenoids
  - 5.2.1.4. Misc (Ketones, Esters, Aldehydes)
5.3. Europe Aroma Chemical Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Food and Beverages
  - 5.3.1.2. Fine Fragrances
  - 5.3.1.3. Cosmetics and Toiletries
  - 5.3.1.4. Soaps and Detergents
  - 5.3.1.5. Misc
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Aroma Chemical Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 5.4.1.2. Germany Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 5.4.1.3. Germany Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 5.4.1.4. U.K. Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 5.4.1.5. U.K. Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 5.4.1.6. U.K. Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 5.4.1.7. France Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 5.4.1.8. France Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 5.4.1.9. France Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 5.4.1.10. Italy Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 5.4.1.11. Italy Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 5.4.1.12. Italy Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 5.4.1.13. Turkey Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 5.4.1.14. Turkey Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 5.4.1.15. Turkey Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 5.4.1.16. Russia Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 5.4.1.17. Russia Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 5.4.1.18. Russia Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 5.4.1.19. Rest of Europe Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 5.4.1.20. Rest of Europe Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 5.4.1.21. Rest of Europe Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Aroma Chemical Market Outlook, 2018 - 2030

6.1. Asia Pacific Aroma Chemical Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Natural
  - 6.1.1.2. Synthetic
6.2. Asia Pacific Aroma Chemical Market Outlook, by Chemical, Value (US$ Mn), 2018 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Benzenoids
  - 6.2.1.2. Musk Chemicals
  - 6.2.1.3. Terpenes & Terpenoids
  - 6.2.1.4. Misc (Ketones, Esters, Aldehydes)
6.3. Asia Pacific Aroma Chemical Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. Food and Beverages
  - 6.3.1.2. Fine Fragrances
  - 6.3.1.3. Cosmetics and Toiletries
  - 6.3.1.4. Soaps and Detergents
  - 6.3.1.5. Misc
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Aroma Chemical Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 6.4.1. Key Highlights
  - 6.4.1.1. China Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 6.4.1.2. China Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 6.4.1.3. China Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 6.4.1.4. Japan Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 6.4.1.5. Japan Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 6.4.1.6. Japan Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 6.4.1.7. South Korea Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 6.4.1.8. South Korea Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 6.4.1.9. South Korea Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 6.4.1.10. India Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 6.4.1.11. India Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 6.4.1.12. India Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 6.4.1.13. Southeast Asia Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 6.4.1.14. Southeast Asia Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 6.4.1.15. Southeast Asia Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 6.4.1.16. Rest of Asia Pacific Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 6.4.1.17. Rest of Asia Pacific Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 6.4.1.18. Rest of Asia Pacific Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Aroma Chemical Market Outlook, 2018 - 2030

7.1. Latin America Aroma Chemical Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Natural
  - 7.1.1.2. Synthetic
7.2. Latin America Aroma Chemical Market Outlook, by Chemical, Value (US$ Mn), 2018 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Benzenoids
  - 7.2.1.2. Musk Chemicals
  - 7.2.1.3. Terpenes & Terpenoids
  - 7.2.1.4. Misc (Ketones, Esters, Aldehydes)
7.3. Latin America Aroma Chemical Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Food and Beverages
  - 7.3.1.2. Fine Fragrances
  - 7.3.1.3. Cosmetics and Toiletries
  - 7.3.1.4. Soaps and Detergents
  - 7.3.1.5. Misc
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Aroma Chemical Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 7.4.1. Key Highlights
  - 7.4.1.1. Brazil Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 7.4.1.2. Brazil Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 7.4.1.3. Brazil Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 7.4.1.4. Mexico Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 7.4.1.5. Mexico Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 7.4.1.6. Mexico Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 7.4.1.7. Argentina Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 7.4.1.8. Argentina Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 7.4.1.9. Argentina Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 7.4.1.10. Rest of Latin America Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 7.4.1.11. Rest of Latin America Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 7.4.1.12. Rest of Latin America Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Aroma Chemical Market Outlook, 2018 - 2030

8.1. Middle East & Africa Aroma Chemical Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Natural
  - 8.1.1.2. Synthetic
8.2. Middle East & Africa Aroma Chemical Market Outlook, by Chemical, Value (US$ Mn), 2018 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Benzenoids
  - 8.2.1.2. Musk Chemicals
  - 8.2.1.3. Terpenes & Terpenoids
  - 8.2.1.4. Misc (Ketones, Esters, Aldehydes)
8.3. Middle East & Africa Aroma Chemical Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. Food and Beverages
  - 8.3.1.2. Fine Fragrances
  - 8.3.1.3. Cosmetics and Toiletries
  - 8.3.1.4. Soaps and Detergents
  - 8.3.1.5. Misc
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Aroma Chemical Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 8.4.1. Key Highlights
  - 8.4.1.1. GCC Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 8.4.1.2. GCC Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 8.4.1.3. GCC Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 8.4.1.4. South Africa Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 8.4.1.5. South Africa Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 8.4.1.6. South Africa Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 8.4.1.7. Egypt Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 8.4.1.8. Egypt Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 8.4.1.9. Egypt Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 8.4.1.10. Nigeria Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 8.4.1.11. Nigeria Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 8.4.1.12. Nigeria Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
  - 8.4.1.13. Rest of Middle East & Africa Aroma Chemical Market by Type, Value (US$ Mn), 2018 - 2030
  - 8.4.1.14. Rest of Middle East & Africa Aroma Chemical Market Chemical, Value (US$ Mn), 2018 - 2030
  - 8.4.1.15. Rest of Middle East & Africa Aroma Chemical Market Application, Value (US$ Mn), 2018 - 2030
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Application vs Chemical Heatmap
9.2. Manufacturer vs Chemical Heatmap
9.3. Company Market Share Analysis, 2022
9.4. Competitive Dashboard
9.5. Company Profiles
- 9.5.1. BASF SE
  - 9.5.1.1. Company Overview
  - 9.5.1.2. Product Portfolio
  - 9.5.1.3. Financial Overview
  - 9.5.1.4. Business Strategies and Development
- 9.5.2. Givaudan
  - 9.5.2.1. Company Overview
  - 9.5.2.2. Product Portfolio
  - 9.5.2.3. Financial Overview
  - 9.5.2.4. Business Strategies and Development
- 9.5.3. Firmenich SA
  - 9.5.3.1. Company Overview
  - 9.5.3.2. Product Portfolio
  - 9.5.3.3. Financial Overview
  - 9.5.3.4. Business Strategies and Development
- 9.5.4. Symrise AG
  - 9.5.4.1. Company Overview
  - 9.5.4.2. Product Portfolio
  - 9.5.4.3. Financial Overview
  - 9.5.4.4. Business Strategies and Development
- 9.5.5. International Flavors & Fragrances Inc. (IFF)
  - 9.5.5.1. Company Overview
  - 9.5.5.2. Product Portfolio
  - 9.5.5.3. Financial Overview
  - 9.5.5.4. Business Strategies and Development
- 9.5.6. Takasago International Corporation
  - 9.5.6.1. Company Overview
  - 9.5.6.2. Product Portfolio
  - 9.5.6.3. Financial Overview
  - 9.5.6.4. Business Strategies and Development
- 9.5.7. Solvay SA
  - 9.5.7.1. Company Overview
  - 9.5.7.2. Product Portfolio
  - 9.5.7.3. Financial Overview
  - 9.5.7.4. Business Strategies and Development
- 9.5.8. Robertet Group
  - 9.5.8.1. Company Overview
  - 9.5.8.2. Product Portfolio
  - 9.5.8.3. Financial Overview
  - 9.5.8.4. Business Strategies and Development
- 9.5.9. Sensient Technologies Corporation
  - 9.5.9.1. Company Overview
  - 9.5.9.2. Product Portfolio
  - 9.5.9.3. Business Strategies and Development
- 9.5.10. Kao Corporation
  - 9.5.10.1. Company Overview
  - 9.5.10.2. Product Portfolio
  - 9.5.10.3. Financial Overview
  - 9.5.10.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations