- The key vendors in the Global Aroma Chemicals Market 2015-2019 are Hindustan Mint and Agro Products Pvt. Ltd., Kalpsutra Chemicals Pvt. Ltd., Takasago International Corp. and Veera Fragrances Pvt. Ltd.
London, 25 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Aroma Chemicals Market 2015-2019. There is a growing demand for aroma chemicals from companies that manufacture food, soaps and detergents, cosmetics, toiletries, and household products. The Global Aroma Chemicals market is expected to grow at a moderate pace owing to favorable economic conditions and increase in disposable incomes along with enhanced consumer awareness of hygiene and personal grooming. The overall market is expected to grow at a CAGR of 5.51 percent during the forecast period of 2014-2019.
Consolidation of manufacturers is a key trend contributing to the growth of this market. It has led to a reduction in overhead and marketing expenses and an efficient spending on R&D. Another factor driving the market is an increase in the demand for aroma chemicals from various industries. Based on the type, aroma chemicals can be classified into two: natural aroma chemicals and synthetic aroma chemicals.
“One of the key factors influencing the market is the rapidly changing consumer lifestyles. There is an increase in demand for products based on natural ingredients because of growing awareness of the harmful effects of chemical additives,” says Faisal Ghaus, Vice President of TechNavio Research.
“Clean label products that are free of chemical additives and contain only natural ingredients are gaining increased market in Europe. In addition, the growing demand for healthy foods and consumer preference for naturally formulated food products are contributing to the growth of the market.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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