Sellbyville, DE -- (SBWire) -- 06/18/2020 --A research report by Global Market Insights, Inc., Global aroma chemicals market is anticipated to be valued at USD 7.5 billion by 2026 to grow at 6% CAGR between 2020 and 2026. Demand for enhanced food flavors to trigger adoption of aroma chemicals.
Aroma chemicals have been become a highly sought-after compound in the production of flavorant that is used in the food and beverage industry to boost and enhance the appeal of the products. As such, demand for aroma chemicals in essential oils, fragrance oils, food, wine and spices has become more pronounced in recent years.
Accordingly, use of aroma compounds such as esters, ketones, amines and aldehydes has surged in food and beverage products, thereby fueling growth in aroma chemicals market.
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Aroma chemicals market is projected to showcase significant growth in the food and beverages industry. A food or beverage is combination of both flavor and aroma that are inseparably tied together, making the ability to distinguish and detect particular flavor and aroma components crucial to sensory analysis. Key odorants have been deemed as one of the most important types of aroma chemicals that induce characteristic aroma to a particular food. Aroma chemicals play a pivotal role in the production of flavorants, that are used in abundance in the food service industry to enhance the appeal of their products.
Let alone food industry, aroma chemicals are also extensively being used in cosmetics and personal care applications. Companies operating in these business spaces have been engaging in M&As, and new product launches while scoring a competitive edge over the aroma chemicals market rivals.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. BASF
2. Fairchem Specialit
3. International Flavors & Fragrances Inc.
4. Hindustan mint & agro products pvt. ltd.
5. Kao Corporation
6. PFW Aroma Chemicals (Kelkar Group)
7. Privi Organics India Limited
8. MANE
9. Robertet
10. S H Kelkar And Company
11. SymriseAG
12. Solvay
13. Takasago International Corporation
14. Givaudan
A vital testament for the above mentioned stated is provided by Fairfax India's acquisition of 51 per cent stake of Privi Organics. According to official sources, Fairfax India Holdings Corp. on July 2016 announced taking over 51 per cent stake in Privi Organics for a financial amount of about 370 crore rupees. Besides, Fairfax owns nearly 49 per cent of the merged business and is renamed as Fairchem Speciality Ltd.
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Forward-looking companies are eyeing to inject funds in South American countries such as Brazil where availability of cheap labor and low cost of raw materials have instilled confidence among stakeholders. Global Market Insights, Inc., projects Latin America aroma chemicals market to grow steadily at a compound annual growth rate of over 4% through 2026.
Prominent companies envisage Asia Pacific as an investment hub as they look for product launches and mergers & acquisitions. Emerging economies such as India and China are witnessing traction for food and beverage industry and cosmetics, thereby showcasing positive business outlook in aroma chemicals market. Prominently, manufacturers are eyeing to streamline supply chain with high-impact chemicals to keep up with the demand for the product.
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