According to a recent study titled ‘Aroma Chemicals Market Size By Source, By Product, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, global aroma chemicals market is anticipated to accrue notable returns through 2026.
 

As per the study, surging demand for food, beverages, and household products, in tandem with changing consumer preferences will foster the growth of global aroma chemicals market over the estimated timeframe.
 

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For those unfamiliar, aroma chemicals are singular compounds that have been further synthesized or isolated. These chemicals are available in artificial, natural or nature-identical forms and are utilized as ingredients in flavor and fragrance components.
 

Based on source, global aroma chemicals market is bifurcated into natural and synthetic, wherein the latter segment is predicted to register a CAGR of over 6.0% CAGR during the forecast years. Synthetic aroma chemicals possess the ability to amplify the aroma in detergents, soaps, and perfumes. These chemicals have high purity, hence, is suitable for use across various industry verticals.
 

In pharma sector, the product finds applications in combating various stress related issues, skin problems, and nervous system tribulations. Fragrance manufacturers utilize these chemicals to develop strong natural scent without compromising on other chemicals inside that fragrance. In addition, lower costs and easy availability as compared to natural aroma chemicals is projected to amplify market size over the coming years.  
 

Elaborating on product type, global aroma chemicals market is classified into benzenoids, terpenoids, musk chemicals, and others. Benzenoids segment is slated to register 5.5% CAGR over the forecast period, driven by escalating product use in soaps and detergents. Further, rising focus towards maintaining personal hygiene is positively impacting the demand for benzenoids among manufacturers.  
 

Speaking of the application spectrum, global aroma chemicals market is fragmented into cosmetics & toiletries, food & beverage, household, soaps & detergents, fine fragrances, and others. Household application segment currently accounts for 15% market share and is anticipated to record decent returns over the study duration. Parallelly, the others segment is projected to record a CAGR of 5% throughout the analysis period, attributable to growing demand for aromatherapy applications which caters to physical and psychological well-being.
 

Geographically, Middle East & Africa aroma chemicals market is expected gain decent traction in the upcoming years, owing to low cost of raw materials and availability of cheap labor in the region.
 

Leading players in global aroma chemicals market are Givaudan, Takasago International Corp., Solvay S.A., Symrise AG, S H Kelkar & Co., Ltd., Robertet Group, MANE, Privi Organics India Ltd., PFW Aroma Chemicals BV, Kao Corp., Hindustan Mint & Agro Products Pvt. Ltd., International Flavors & Fragrances Inc., Fairchem Speciality Ltd., and BASF SE.