Backed by Demand from Fine Fragrance Industry, Asia Pacific to Produce 1.8X More Aroma Chemical then Europe and US

Personal Care and Cosmetic Industry Positioned Well to Create Access Demand for Aroma Chemicals through 2031

Fact.MR's latest research study conducted on the aroma chemicals market propounds critical trends influencing growth of the market along with several macro-economic indicators. The study explicates on vital dynamics, such as the opportunities, drivers, and restraints affecting the demand outlook for aroma chemicals market in terms of source, chemical type and application

NEW YORK, Sept. 17, 2021 /PRNewswire/ -- As per in-depth analysis by Fact.MR, the global aroma chemicals market is anticipated to exhibit steady growth during the forecast year from 2021 to 2031. Increasing application of aroma chemicals across fragrance, cosmetics, and food & beverage industry is estimated to drive the growth of aroma chemicals market.

In recent years, a rapid shift in consumer preference from using synthetic aroma chemicals to natural ones is witnessed, due to its healing attributes such as energy enhancing, mood lifting, calming, and relaxing. On account to this, leading players are initiating new product launches, capacity expansions, and strategic alliances to meet the increasing demand for natural aroma chemicals.

For instance, in September 2019, BASF, the German multinational chemical company, announced acquiring Isobionics, a leading biotechnology firm focus aroma chemicals, and entering into a partnership with Conagen, a leading biotechnology research firm. The strategy will assist the company to broaden its natural flavors and fragrance ingredients portfolio. These developments in the landscape is expected to propel the demand for natural aroma chemicals.

Aroma chemicals are extensively used in personal care and cosmetic products, such as facemasks, creams, body lotions, aftershaves, soaps, and shampoos others. Thus, the increase in per capita disposable income and rise in standard of living of the population is augmenting the demand for aforementioned products, in turn, spurring the sales of aroma chemicals.

 "Growing trend of aromatherapy for maintaining psychological and emotional wellbeing and increasing adoption of naturally sourced aroma chemical in food and cosmetics products are estimated to facilitate the market growth in the coming years," says a Fact.MR analyst.

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