BURLINGAME, Calif., March 26, 2024 /PRNewswire/ -- CoherentMI published a report, titled, India Aroma Chemicals Market was valued at US$ 276.1 Million in the year 2023, and is anticipated to reach a US$ 418.6 Million by 2031, with growing at a CAGR of 5.34% during forecast period 2023-2030.
Market Dynamics:
The growth of the India aroma chemicals market can be attributed to the flourishing fragrance industry in the region. With the increasing disposable income of consumers and their changing preferences towards personal care and cosmetics products, there is a rising demand for aroma chemicals in various applications such as perfumes, deodorants, and soaps. Additionally, the growing awareness about hygiene and wellness among the population is further driving the market growth.
India Aroma Chemicals Market Snapshot:
Report Coverage | Details |
Study Period | 2024 - 2031 |
Base Year of Estimation | 2023 |
CAGR | 5.34 % |
Largest Market | India |
Market Concentration | High |
Major Players | International Flavors & Fragrance Inc., The Anthea Group, Privi Speciality Chemicals Limited, Eternis Fine Chemical Limited., S H Kelkar and Company Limited and Among Others. |
Segments Covered | By Product Type, By End User |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Growth Drivers | • Growth Of Perfumery Industry |
Restraints & Challenges | • Synthetic Chemicals Included in Perfumes and Their Possible Health Impacts |
Key Market Takeaways:
- India Aroma Chemicals Market Size is anticipated to witness a CAGR of 5.34% during the forecast period 2024-2031, driven by the growing demand for aroma chemicals in the food and beverages industry.
- On the basis of Composition, the Amines segment is expected to witness significant growth, owing to the versatility of amines in creating a wide range of flavors.
- On the basis of Application, Food and beverages products segment is expected to dominate, as manufacturers are focusing on introducing new and unique flavors to cater to the evolving consumer preferences.
- In terms of regions, metro cities are expected to hold a dominant position in the market, due to the presence of a large number of food processing units and the growing popularity of gourmet food products.
- Key players operating in the India aroma chemicals market include BASF, Bell Flavors & Fragrances Company, and other major players who are investing in research and development activities to introduce new flavor profiles in the market.
Market Trends:
One of the key trends in the India aroma chemicals market is the shift towards natural and organic ingredients. Consumers are increasingly looking for products that are made from natural and sustainable sources, leading to the adoption of natural aroma chemicals in the fragrance industry. Another trend is the rising popularity of exotic and unique fragrances, driving the demand for innovative aroma chemicals that can create differentiated products in the market.
Recent Advancement:
- In December 2020, a recently constructed PU system products factory that use pre-polymer reactor technology to boost production capacity and serve a range of application in furniture, appliances, and construction has been expanded, according to a statement from BASF SE.
Read complete market research report, "India Aroma Chemicals Market, By Base Oil Type, By Application, By End Use Industry, and other Segment Forecast 2024-2031", Published by CoherentMI.
Market Opportunities:
Increasing Demand for Natural Aroma Chemicals in Cosmetics and Toiletries
The India aroma chemicals market is experiencing a significant growth opportunity with the increasing demand for natural aroma chemicals in cosmetics and toiletries. Consumers are becoming more aware of the ingredients in their personal care products and are seeking natural alternatives to harsh chemicals. This has led to a surge in demand for natural aroma chemicals derived from plant sources such as esters and terpenes.
Growing Demand for Aroma Chemicals in Food and Beverages Industry
Another market opportunity in the India aroma chemicals market is the growing demand for aroma chemicals in the food and beverages industry. Aroma chemicals are widely used in the food industry to enhance the flavor and fragrance of various products such as beverages, confectionery, bakery, and savory snacks. With the rise in disposable income and changing consumer preferences, there is a growing demand for innovative and exotic flavors in the food and beverages sector.
Finally, the India aroma chemicals market is witnessing lucrative opportunities driven by the increasing demand for natural aroma chemicals in cosmetics and toiletries, as well as the growing demand for aroma chemicals in the food and beverages industry. Key players in the market are focusing on developing innovative products to cater to the evolving consumer preferences and capitalize on the market growth potential. With the right strategies and investments, the India aroma chemicals market is poised for substantial growth in the forecast period.
India Aroma Chemicals Market Segmentation:
- India 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
- Esters
- India Aroma Chemicals Market, By Application:
- Cosmetic and Toiletries
- Food and Beverages products
- Home care products
- Fragrances
- Soap and Detergents
- Others
Get your copy of this premium research report now @ https://www.coherentmi.com/industry-reports/india-aroma-chemicals-market/buyNow
Top Questions Answered in this Report:
- What factors are impeding the growth of the market for India Aroma Chemicals?
- What are the primary drivers fostering growth in the market for India Aroma Chemicals?
- Which segment stands out as the leading component in the India Aroma Chemicals Market?
- Who are the key players actively involved in the India Aroma Chemicals Market?
- Which region is poised to take the lead in the India Aroma Chemicals Market?
- What is the projected CAGR for the India Aroma Chemicals Market?
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