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Aroma Chemicals Market - By Source (Natural, Synthetic), By Product (Benzenoids, Terpenoids, Musk Chemicals), By Application (Food & Beverage, Fine Fragrances, Cosmetics & Toiletries, Soaps & Detergents, Household), By Region - Global Forecast to 2032

  • Report ID: GMI4596
  • Published Date: Mar 2023
  • Report Format: PDF

Aroma Chemicals Market Size

Aroma Chemicals Market size surpassed USD 5 billion in 2022 and is poised to grow at over 6% CAGR from 2023 to 2032. The growing manufacturing sector in Asia Pacific owing to favorable government initiatives to serve as a key driver for market growth.

Aroma Chemicals Market

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Aroma chemicals are widely used in household detergents, shampoos, cosmetics, perfumes, and soaps. The growing manufacturing sector in Asia Pacific is supporting large-scale production of such items, creating a strong demand for aroma chemicals. Several regional governments have been focusing on expanding their manufacturing sector capacities as a crutch to get out of the post-pandemic economic slump. Many initiatives such as Make in India and Make in China are strengthening the sector and fostering market expansion.

In fact, as per the IBEF, India has the potential to become a global manufacturing hub, having the potential to contribute USD 500 billion annually to the global economy by 2030.

Side effects related to synthetic aroma chemicals may constrain industry growth

Petrochemical-derived synthetic aroma chemicals can have adverse implications on human health, which presents a major challenge for product adoption. The use of synthetic fragrances can cause issues such as skin irritation and rashes in some people due to the harsh chemicals these fragrances contain. Many aroma chemicals contain phthalates, which include benzene derivatives, aldehydes, toluene, endocrine disruptors, and others. In fact, certain human epidemiological studies have shown a relation between phthalates and adverse reproductive outcomes in males and females such as obesity, type 2 diabetes, insulin resistance, and others, which may impede industry growth.

Aroma Chemicals Market Analysis

Global Aroma Chemicals Market Size, By Product

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Based on product, aroma chemicals market revenue from the terpenoids segment is anticipated to record a valuation of over USD 4.5 billion by 2032. Terpenoids possess strong aromatic qualities and are widely used in traditional herbal medicines. In fact, they have been found to be useful in the prevention as well as therapy of certain ailments such as cancer and have also demonstrated antifungal and anti-allergenic properties. Surging demand for natural and herbal products across various sectors, spurred by growing awareness among consumers, is creating a strong impetus for segment expansion.

Global Aroma Chemicals Market Share, By Source

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Based on source, aroma chemicals market from synthetic segment is set to register a growth rate of nearly 5.5% from 2023 to 2032. Synthetic aroma chemicals help formulate various scents, which offers great customization of the end product. They are widely used in industries such as soaps & detergents, cosmetics & toiletries, and others.

Additionally, the segment has been experiencing a steadily growing demand from fragrance-infused cosmetics, as their use continues to rise with the increasing working population base. For instance, in the UK, between November 2022 and January 2023, the employment rate for people in the age group 16 years to 64 years was 75.7%.

Europe Aroma Chemicals Market Size

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Europe aroma chemicals market is projected to reach USD 2.5 billion by 2032, fueled by shifting consumer preference towards the use of natural ingredients. As awareness about the harmful contents of synthetic chemicals grows, consumers are increasingly making a conscious decision to shop for products that use natural, organic ingredients. As a result, several cosmetic companies in the region are replacing their synthetic chemical-based products with their natural ingredients counterparts. U.S. aroma chemicals industry is estimated to grow at over 5.5% CAGR during the forecast timeframe owing to rising consumer spending on scented products for enhancing the experience.


Furthermore, in-line with the health-conscious decisions, European consumers are also creating a notable demand for healthy food, increased the demand for natural aroma chemicals in the F&B space as well.

Aroma Chemicals Market Share

Some of the leading companies in the global aroma chemicals market include:

  • Symrise AG
  • Kao Corporation
  • Privi Specialty Chemicals Ltd
  • Bell Flavors & Fragrances
  • Keva (Kelkar Group)
  • Solvay
  • Takasago International Corporation
  • and Kalpa Sutra Chemicals Pvt. Ltd

Firms in the field often rely on merger and acquisition strategies to strengthen their market hold in a relatively short amount of time.

The takeover helped the company open its new distillation facility for manufacturing new fragrances and flavors at Brightlands Chemelot Campus in Geleen in the Dutch Province of Limburg.

Impact of the COVID-19 pandemic

The COVID-19 pandemic severely impacted the aroma chemicals market due to supply chain disruptions in industries such as food and beverages, cosmetics and toiletries, and others. The disruptions led to the closure of several food and beverage businesses, which further hampered the industry outlook. However, as healthy eating habits surged during the lockdowns, demand for natural aroma chemicals in the post COVID-19 era has witnessed a notable rise. Moreover, growing government support for boosting manufacturing sector is also contributing towards industry growth.

This aroma chemicals market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:

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By Product

  • Benzenoids
  • Terpenoids
  • Musk Chemicals
  • Other

By Source

  • Natural
  • Synthetic

By Application

  • Food & Beverage
  • Fine Fragrances
  • Cosmetics & Toiletries
  • Soaps & Detergents
  • Household
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Italy
    • France
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Thailand
  • Latin America
    • Brazil
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE


Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The market size of aroma chemicals was valued at USD 5 billion In 2022 and is anticipated to grow at over 6% CAGR from 2023 to 2032, driven by the expansion of the Asia Pacific manufacturing sector due to favorable government initiatives.

The terpenoids segment is slated to record a valuation of over USD 4.5 billion by 2032, fueled by the growing demand for herbal and natural products.

Europe market for aroma chemicals is poised to reach USD 2.5 billion by 2032, supported by the rising consumption of healthy food and products containing natural ingredients.

Some of the key aroma chemicals market players include Keva (Kelkar Group, Solvay, Robertet, Kao Corporation, Privi Specialty Chemicals Ltd, Hindustan Mint and Agro Products, Symrise AG, and Takasago International Corporation, among others.

Aroma Chemicals Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 458
  • Countries covered: 20
  • Pages: 300
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