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    Europe Aroma Chemicals Market Size By Product (Benzenoids, Terpenoids, Musk Chemicals), By Source (Natural, Synthetic), By Application (Food & Beverage, Fine Fragrances, Cosmetics & Toiletries, Soaps & Detergents, Household), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026
    Published Date: March 2021   |   Report ID: GR1692   |   Delivery: PDF  Request Free Sample

    Europe Aroma Chemicals Market size surpassed USD 1.5 billion in 2019 and is predicted to register a growth of over 6.5% from 2020 to 2026.

    Europe Aroma Chemicals Market

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    Aroma chemicals are utilized for producing fragrances, floral scents, essential oils, perfumes and are used in a wide range of applications such as food products, beverages, cosmetics, toiletries, soaps, detergents, etc. Aroma are create using combination of extracts, isolates, and various types of synthetic and semi-synthetic ingredients. Semi-synthetic ingredients are ingredients obtained from naturally present materials and have similar properties that of natural aroma ingredients. Synthetic aroma chemicals produced in laboratories or factories using a synthetic process and cheaper and more easily available than natural aroma chemicals. Natural aroma chemicals are produced by distillation or fermentation of natural ingredients.

    European Market, By Product

    On the basis of product, the musk chemicals segment is expected to reach USD 140 million by 2026, at over 6% CAGR. Musk chemicals are a group of aromatic substances and have similar scent that of musk pod, which is present in the abdomen of the male musk deer and some of the common types of musk.

    Musk chemicals are primarily used as flavorings in perfumes, cosmetics, soaps, and perfume formulas. Whereas the utilization of musk chemicals has increased in the perfume and fragrance industry pertaining to rising demand for aromatic personal care and cosmetic products. Personal care and cosmetic product companies are introducing new products into the European aroma chemicals industry which help in attracting new customers, hence, this should drive the use of synthetic musk in the personal care industry and expected to create new opportunities for the musk chemicals sector in Europe.

    European Market, By Source

    In terms of source, the natural segment is anticipated to register a CAGR of 6.5% till 2026, reaching a market size of around USD 1 billion. Natural fragrances and perfumes are derived from natural ingredients extracted from plants or animals without changing the chemical composition of the ingredient. One of the key advantages of natural aroma chemicals is they are free from synthetic chemicals, which are derived from petrochemicals.

    Growing consumer consciousness regarding use of chemical personal care and cosmetic products, owing to multiple side effects of chemical cosmetic products. Also, the evolving consumer preferences towards organic products, led consumers to spend more on organic and chemical free products to reduce exposure of chemicals skin as over absorption of chemicals into skin which may cause cancer or any skin diseases in long term.

    European Market, By Application

    In terms of application, the cosmetics & toiletries segment is set to record highest CAGR of over 6.5% through 2026. Aromas are used in different cosmetic products such as skincare products, make-up products, perfumes, and toiletries to add pleasant odor which help in improving overall product experience.

    According to Cosmetics Europe, the retail sales of cosmetics and personal care products generated nearly USD 97 billion in 2019. Further, expansion of online retail and e-commerce sales channels has also driven the fragrances and aromas market in Europe.

    Competitive Industry Landscape

    Europe aroma chemicals market share is significantly competitive with major players including BASF SE, MANE, International Flavors & Fragrances Inc., Kao Chemicals Europe, PFW Aroma Chemicals BV, Robertet Group, Solvay, Symrise AG, Takasago Europe GmbH, and Givaudan.

    Companies are adopting new strategic initiative such as acquisition and merger for expanding their presence in regional markets and leveraging product portfolio of new companies. In 2019, BASF Nutrition & Health and Isobionics acquired Isobionics, a company operating in natural flavors and fragrances market, to develop technology for biotech-based aroma ingredients.

    Frequently Asked Question(FAQ) :

    What is the estimated CAGR for Europe aroma chemicals market through 2026?
    The market for aroma chemicals in Europe was valued at USD 1.5 billion in 2019 and will grow at a 6.5% CAGR up to 2026 led by increasing awareness regarding the usage of chemicals used in cosmetics and personal care products.
    Why are naturally derived aroma chemicals gaining popularity in the European market?
    The natural Europe market is slated to reach USD 1 billion by 2026 growing at a CAGR of 6.5% owing to the rising consumer preference to use synthetic chemical-free products.
    How much revenue will the musk chemicals segment generate in aroma chemicals industry by 2026?
    The musk chemicals segment will grow at a 6% CAGR reaching USD 140 million in terms of annual revenue by 2026 with wide use in perfumes, perfume formulas, soaps, and cosmetics.
    Why will the demand for aroma chemicals increase across cosmetics and toiletries application in Europe?
    The cosmetics and toiletries segment will record a significant CAGR of 6.5% through 2026 powered by the proliferation of retail and ecommerce sales channels in the region.

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