Aroma Ingredients Market by Type, Application

List of Tables

[180 Pages Report] The Aroma Ingredients Market size was estimated at USD 3.34 billion in 2023 and expected to reach USD 3.53 billion in 2024, at a CAGR 5.61% to reach USD 4.90 billion by 2030.

Aroma ingredients provide fragrances to products to mask the original smell or create a particular scent profile. The elevating consumer preference for organic and natural products has encouraged the development of natural aroma ingredients in recent years. The success of consumer products often hinges on sensory appeal, with fragrance playing a pivotal role, where aroma ingredients help create a desirable scent for products, enhancing user experience and brand identity. However, volatility of raw material prices and regulatory compliance issues about safety and environmental impact can hinder the adoption of aroma ingredients into specific markets. Nevertheless, technological advancements in extraction and synthesis methods to enhance the cost-effectiveness and efficiency of production have encouraged product development and usage across diverse end-use industries. In addition, exploring bio-based aroma ingredients to comply with sustainability trends is expected to create scope for the aroma ingredients market in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.34 billion
Estimated Year [2024]	USD 3.53 billion
Forecast Year [2030]	USD 4.90 billion
CAGR (%)	5.61%

Regional Insights

The robust personal care and cosmetics industry highly influences the aroma ingredients market in the Americas. Consumer preferences continually evolve with a significant trend towards natural and organic fragrances. Vendors in this region are leveraging advanced biotechnology to sustain aroma compounds and develop new fragrance experiences. In addition, investment in research for extraction techniques and the development of new aromatic compounds are expanding the product portfolios of aroma ingredients in the Americas. The European Union (EU) countries exhibit a mature and highly sophisticated market for aroma ingredients, with consumers displaying a penchant for luxury and premium fragranced products. The Middle East region has a prosperous historical association with exotic perfumes and aromatics. Luxury fragrance brands find the Middle East particularly lucrative due to the high spending power and consumers' appreciation for opulent scents. The Asia Pacific region has seen an evolving aroma ingredients market due to the growing middle class and amplified demand for personal care products. The distinct consumer need for region-specific aromatic profiles drives innovation and customization in products across the Asia-Pacific.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Aroma Ingredients Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising demand for natural aroma ingredients
- Increasing application in cosmetic and personal care industry
- Growing awareness towards aromatherapy

Market Restraints
- High cost associated with research and development of aroma ingredients

Market Opportunities
- Emergence of artificial intelligence (AI) in attaining new fragrance and food flavor
- Rising demand from the developing nations for natural fragrance

Market Challenges
- Stringent government regulations related quality compliance and the growing production cost

Market Segmentation Analysis
- Type: Growing consumer preference for natural aroma ingredients
- Application: Significant adoption of aroma ingredients in cosmetics and personal care sector

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Aroma Ingredients Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Aroma Ingredients Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

BASF Aroma Ingredients Expands its Isobionics Portfolio with New Natural Flavors

BASF's Aroma Ingredients brand, Isobionics, announced the introduction of two revolutionary natural products to the flavor market. These releases showcase our dedication to innovation and customer-focused development, meeting demanding market requirements for natural, sustainable flavor solutions. The newly developed ingredients are highly versatile, suitable for various applications, and represent a new frontier in flavor and aroma profile development. [Published On: 2023-10-30]

Univar Solutions Expands Food Ingredients Portfolio in North America with Addition of Aroma Ingredients from Camlin Fine Sciences, Ltd.

Univar Solutions Inc. announced its new role as an authorized distributor for Camlin Fine Sciences Ltd.'s (CFS) line of aroma ingredients, which now extends to the United States and Canada. This expansion underscores the company's commitment to enhancing its food ingredients portfolio in North America, leveraging its newly introduced 'Foodology' platform to deliver culinary innovation and encourage excellence in the global food ingredients sector. [Published On: 2023-06-29]

S H Kelkar Arm Acquires 100% Stake in PFW Aroma Ingredients B.V.

S H Kelkar and Company completed the acquisition of PFW Aroma Ingredients B.V., a step-down subsidiary previously under Keva UK. This decisive acquisition underscores S H Kelkar & Company's commitment to being a major provider in manufacturing and supplying fragrance and aroma ingredients worldwide. [Published On: 2023-01-31]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Aroma Ingredients Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Aroma Ingredients Market, highlighting leading vendors and their innovative profiles. These include Aquila Organics Private Limited, Aurochemicals, BASF SE, Bell Flavors & Fragrances, Bordas S.A., Citrus and Allied Essences Ltd., De Monchy Aromatics Ltd, Eternis Fine Chemicals Limited, Firmenich SA, Givaudan SA, Huabao International Holdings Limited, International Flavors & Fragrances Inc., Kalpsutra chemicals Pvt. Ltd., Kao Corporation, Koninklijke DSM N.V., Merck KGaA, Ogawa & Co., Ltd., Privi Speciality Chemicals Limited, Robinson Brothers Limited, S H Kelkar and Company Limited, Solvay S.A., Symrise AG, T. Hasegawa Co., Ltd., Takasago International Corporation, Vigon International, Inc., Yin Yang Aroma Chemical Group, and Yinghai (Cangzhou) Aroma Chemical Company Ltd..

Market Segmentation & Coverage

This research report categorizes the Aroma Ingredients Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Natural Ingredients
- Synthetic Ingredients

Application
- Cosmetics & Personal Care
- Fine Fragrances
- Therapeutic Area
- Toiletries

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-4358BACA8604

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising demand for natural aroma ingredients
  - 5.1.1.2. Increasing application in cosmetic and personal care industry
  - 5.1.1.3. Growing awareness towards aromatherapy
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with research and development of aroma ingredients
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of artificial intelligence (AI) in attaining new fragrance and food flavor
  - 5.1.3.2. Rising demand from the developing nations for natural fragrance
- 5.1.4. Challenges
  - 5.1.4.1. Stringent government regulations related quality compliance and the growing production cost
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing consumer preference for natural aroma ingredients
- 5.2.2. Application: Significant adoption of aroma ingredients in cosmetics and personal care sector
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Aroma Ingredients Market, by Type

6.1. Introduction
6.2. Natural Ingredients
6.3. Synthetic Ingredients

7. Aroma Ingredients Market, by Application

7.1. Introduction
7.2. Cosmetics & Personal Care
7.3. Fine Fragrances
7.4. Therapeutic Area
7.5. Toiletries

8. Americas Aroma Ingredients Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Aroma Ingredients Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Aroma Ingredients Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. BASF Aroma Ingredients Expands its Isobionics Portfolio with New Natural Flavors
- 11.3.2. Univar Solutions Expands Food Ingredients Portfolio in North America with Addition of Aroma Ingredients from Camlin Fine Sciences, Ltd.
- 11.3.3. S H Kelkar Arm Acquires 100% Stake in PFW Aroma Ingredients B.V.

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio