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European Aroma Chemicals Market revenue to cross $2.6 Bn by 2026
Published Date: 2021-03-19
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European Aroma Chemicals Market size is anticipated to reach USD 2.6 billion by 2026, according to a latest forecast report by Graphical Research.
Increase in the use of fragrances in personal care and cosmetic products for enhancing customer’s experience by providing a pleasant odor has accelerated the market growth. in addition, rise in the demand for natural fragrances, on account of evolving consumer preference in the developed region should stimulate the natural aroma chemicals market growth.
Terpenoids segment was worth nearly USD 900 million in 2019. Terpenoids, also referred as isoprenoids, it is a naturally occurring organic chemical and produced from isoprene and terpenes. Terpenoids are utilized in multiple industries includes pharmaceutical, chemicals, and cosmetics owing to its aromatic qualities. The demand for terpenoids is projected to increase owing to rising demand for organic aromatic chemicals and growing consumer preferences of organic cosmetic and food and beverage products.
In terms of source, the synthetic segment is expected to expand at over 6% CAGR between 2020 and 2026. Synthetic aroma chemicals are synthetic compounds, mainly petrochemicals, that offer more dense fragrance than natural aroma chemicals. Synthetic aroma chemicals are available in a wide range and an array of composition as compared to natural aroma chemicals.
The demand for essential oil, fragrances, and aromatic products are increasing, due to rising consumer focus on luxurious experience. whereas, synthetic aroma chemicals are used in various cosmetic and pharmaceutical products including, essential oils, and fragrances as these have intense and durable aromatic characteristics.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
Based on application, the fine fragrances segment size is estimated to reach USD 750 million by 2026. Fine fragrances consist of a wide range of colognes and perfumes which are mainly used for enhancing user experience by offering pleasant and distinct odor. Moreover, the use of perfume and cologne has increased among millennials pertaining to rising consumer spending on personal care products.
Increase demand for personal grooming products among men owing to growing consciousness regarding personal wellness and appearance should stimulate the demand for fine fragrances. Hence, these factors are expected to create new opportunities for aromatic chemicals in fine fragrances application.
U.K held a major share in the Europe aroma chemicals market in 2019, due to rising awareness about personal care products includes and grooming and beauty consciousness among men. Hence, it led to increase the demand for cosmetics, perfumes, and cologne products and driven the demand for aroma chemicals in the personal care industry. Also, there has been an increase in the demand for aromatic in grooming and hair removal products, especially by individuals with ages group between 16 and 24.
Major players in the Europe market include BASF SE, MANE, International Flavors & Fragrances Inc., Kao Chemicals Europe, PFW Aroma Chemicals BV, Robertet Group, Solvay, Symrise AG, Takasago Europe GmbH, and Givaudan.
The European market report for aroma chemicals includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2015 to 2026, for the following segments:
Europe Market, By Source
Europe Market, By Product
- Musk Chemicals
Europe Market, By Application
- Food & Beverage
- Fine Fragrances
- Cosmetics & Toiletries
- Soaps & Detergents
The above information has been provided for the following countries: