November 24, 2020

Aroma Chemicals Market – Post Pandemic Recovery Plan Strategies and Processes | Change in Consumer Preferences to Boost Market Growth | Technavio | Region

LONDON–(BUSINESS WIRE)–Sep 14, 2020–

The aroma chemicals market is expected to grow by USD 1.70 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Technavio has announced its latest market research report titled Global Aroma Chemicals Market 2020-2024 (Graphic: Business Wire)

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Changing lifestyles and the growth in disposable incomes have increased the consumer spend on quality products. Also, consumers are increasingly becoming aware of personal care and grooming. Besides, since 2015, the market has witnessed an increase in the preference for personal care products with enhanced perfumes, both from women as well as men. All these factors are increasing the use of perfumed cleaning and home care products, which is fueling the growth of the global aroma chemical market.

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As per Technavio, the rise in demand from APAC and South America will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Aroma Chemicals Market: Rise in Demand from APAC and South America

The middle-class population is rapidly expanding in developing regions such as APAC and South America. Besides, the rise in the disposable incomes of the middle-class population has increased the consumption of perfumes, personal and beauty care products, and detergents and cleaners. This is attracting many players in the market to expand their business in these emerging markets and tap the huge growth potential. This trend is expected to have a positive influence on the growth of the global aroma chemicals market during the forecast period.

“Increasing awareness about personal hygiene among consumers and growth in end-user markets will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Aroma Chemicals Market: Segmentation Analysis

This market research report segments the aroma chemicals market by Chemical Type (Terpenes, Benzenoids, Musk Chemicals, and Others), Geography (APAC, North America, Europe, MEA, and South America), and Application (Soaps and detergents; Cosmetics and toiletries; Fine fragrances; and Other).

The APAC region led the aroma chemicals market in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the rising consumption of end-products such as soaps, cleaners, toiletries, detergents, processed food and beverages, and personal care products in the region.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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KEYWORD:

INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 09/14/2020 10:15 PM/DISC: 09/14/2020 10:15 PM

http://www.businesswire.com/news/home/20200914005789/en

Copyright Business Wire 2020.

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