Aroma Chemicals Market, By Composition (Esters (Geranyl Acetate, Methyl Acetate, Methyl Formate, Methyl Propionate, Others), Amines (Trimethylamine, Cadadverine, Pyridine, Others), Linear Terpenes (Geraniol, Myrcene, Citronellol, Others), Cyclic Terpenes (Camphor, Menthol, Eucalyptol, Others), Aromatic (Eugenol, Vanillin, Anisole, Benzaldehyde, Others)) By Application (Cosmetic and Toiletries, Food and Beverages products, Home care products, Fragrances, Soap and Detergents, Others), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Aroma Chemicals are compounds that are primarily used for incorporation of fragrance in variety of End-use products. The major source of these chemicals is from essential oil isolates and from the petrochemical industry. The various use of aroma chemicals in the end-use industries such as food and beverage, cosmetics, and pharmaceuticals is driving the growth of aroma chemicals market. However, the changing customer preferences and high cost of research and developments are a major restraint to the global aroma chemicals market.
Market Dynamics
Europe was the major market for aroma chemicals in 2022 and is expected to retain its dominance during the forecast period, expanding at a CAGR of 5.95%. Growing demand for cosmetics and processed food in the region are the major factors driving growth of aroma chemicals market. Moreover, the increased usage of these chemicals in wine fermentation, to enhance fragrance, is another factor contributing to the market growth.
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