Perfumers to Create Winning Fragrances Using Artificial Intelligence

The aroma chemicals market is undergoing significant transformations as a result of innovative chemistries and thorough knowhow of flavors and fragrances. Strategic collaborations have led to the unfolding of new-to-the-world fragrances (synthetic fragrances and extracts from flowers, fruits, mosses, and spices) in the aroma chemicals industry.

One such aspect about the aroma chemicals industry is the introduction of AI (Artificial Intelligence) for fragrance product development. As such, stakeholders are modifying their business operations by conducting ground-level developments to evaluate insightful data in the aroma chemicals landscape. Increased research & development efforts are giving rise to new methods of using artificial intelligence to develop perfumes positioned on digital fragrance models.

With the help of artificial intelligence, manufacturers and stakeholders are able to create newer, safer, and greener molecules in the aroma chemicals landscape. Thus, using artificial intelligence elevates the process of cross-reference market research, acquisition of customer data, and preferences and disparate information that influences operational decision-making. Artificial intelligence also analyzes several formulas and historical data, which combines the art and science of innovative perfume-making in the aroma chemicals landscape. For instance, in October 2018, Symrise AG - a leading producer of fragrances and flavors, announced its collaboration with IBM Research - IBM’s research and development division, to develop Philyra, a project that is developed to use artificial intelligence and helps perfumers make productive and high-precision designs that are predicted based on novel combinations.

aroma chemicals market infographic

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Multi-purpose Terpenoid Compound Gives Rise to Specialty-ingredient Applications

Terpenoid-based compounds have high probability to complement with carbohydrate, oil and lignin-based feedstock, and serve as an alternative for petrochemicals in the production perfumes and fragrances in the aroma chemicals industry. Terpenes also act as flavor agents to add a more sophisticated aroma to various food products, as compared to synthetic substances. Thus, stakeholders can increase the application of terpene compounds in the food and beverage industry.

Ongoing research & development in the aroma chemicals landscape is leading to the combining of fragrances with home care products. As such, stakeholders are collaborating with washing-machine manufacturers and detergent makers to develop premium-quality and inexpensive detergents for consumers. Specialty-ingredient businesses are developing long-lasting microencapsulated fragrances for a range of home care products.

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Cleaner & Greener Operations Assist Stakeholders in Complying with Environmental Regulations

The aroma chemicals market is consolidated, with four major players accounting for ~57% of the market share. Latest trends in the aroma chemicals landscape are giving rise to the production of sustainable fragrances. Perfumers are shifting towards greener fragrances, as synthetic compounds have previously led to allergic reactions in some individuals. Stakeholders are restricted by stringent regulations for the production of synthetic musk compounds, since they negatively impact the environment, and contaminate aquatic wildlife and waterways.

In order to keep sanitary risks under control, stakeholders in the aroma chemicals landscape are adopting innovative and cleaner technologies, such as supercritical fluid extraction that use carbon dioxide under high pressure to extract essential oils, and the microwave-assisted extraction technique, which is an automated green extraction technique. Likewise, perfumers in the aroma chemicals landscape are incorporating sustainable ways to grow plants that are used in the perfume industry, to propagate better strains and establish optimal planting techniques to source sustainably-grown plant species such as pure sandalwood, to extract essential oils.

aroma chemicals market segmentation

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Analysts’ Viewpoint

Analysts of the aroma chemicals market report have a positive overview in terms of revenue and incremental opportunities during the forecast period of 2019-2027. The aroma chemicals market is currently valued at ~US$ 4.6 billion, and is estimated to reach ~US$ 7.8 billion by the end of 2027. Europe and Asia Pacific account for high market shares in the aroma chemicals market, whereas, Asia Pacific has scope for rapid market growth. Perfumers in the aroma chemicals landscape are developing new aroma ingredients by repurposing technologies and molecules through large chemical inventories. Thus, emerging aroma ingredients are creating space for better price performance ratios and distinctive olfactory profiles.

Aroma Chemicals: Flourishing Personal Care Industry to Drive Market

  • Aroma chemicals are key raw materials for fragrances and odorants. They are synthetic or natural compounds characterized by their pleasant smell. These are usually obtained from essential oils and aromatic compounds.
  • Fragrances are a mixture of aroma compounds, fixatives, and solvents that are commonly utilized to provide a pleasant scent to the human body, animals, food, and various objects.
  • Increase in awareness about personal hygiene, availability of various options in skin care products and toiletries, wide portfolio of perfumes and deodorants, ever-growing population, and growth in disposable income in emerging economies such as India and China are boosting the demand for fragrances among consumers. This, in turn, is driving the aroma chemicals market.
  • The global personal care products industry is anticipated to expand at a CAGR of ~6% during the forecast period. Fragrance and perfume manufacturers are striving to innovate and offer superior products to gain competitive advantages in the rapidly growing personal care products market. This is anticipated to boost the industry during the forecast period, thereby propelling the aroma chemicals market.

Global Aroma Chemicals Market: Highlights

  • In terms of value, the global aroma chemicals market is anticipated to expand at a CAGR of ~6 % during the forecast period, to reach a value of ~US$ 7.8 Bn by 2027.
  • Based on product, the benzenoids segment held a prominent share of the global aroma chemicals market in terms of value in 2018. Ease of availability and the ability to mix with other aroma chemicals of benzenoids is the key factor driving the growth of this segment.
  • In terms of value, Europe was the leading region of the global aroma chemicals market in 2018. The presence of major aroma chemical manufacturing companies and presence of different aroma chemical end-use companies such as personal care and household care product manufacturing companies are augmenting the aroma chemicals market in the region. 
  • Manufacturers of aroma chemicals find it challenging to comply with quality and regulatory standards of aroma chemicals imposed by international bodies such as the International Fragrance Association (IFRA). Furthermore, the processing of aroma chemicals results in the release of effluents that pollute the environment. This is estimated to hamper the global aroma chemicals market during the forecast period.

Demand for Natural Aroma Chemicals Likely to Increase

  • In terms of source, the synthetic segment dominates the global aroma chemicals market due to its characteristics to replicate any natural aroma, and also ease of availability. However, the natural segment is anticipated to expand at a significant pace during the forecast period.
  • Natural aroma chemicals are primarily produced from ingredients harvested from grown plants, rather than from petrochemicals.
  • Rise in the popularity of natural aroma chemicals, primarily in the manufacturing of personal care and cosmetic products, due to the increase in the adoption of natural products among end users, is driving the demand for natural aroma chemicals.

Asia Pacific to be Rapidly Growing Market

  • In terms of value, Europe constituted a prominent share of the global aroma chemicals market in 2018. However, the aroma chemicals market in Asia Pacific is projected to expand at a rapid pace during the forecast period.
  • Growth of end-use industries, such as flavors & fragrances, in Asia Pacific, can be ascribed to the rise in population and improvements in lifestyles with significant increase in disposable income, primarily in developing economies such as China, India, and Indonesia.
  • China is a key exporter of specialty chemicals, including aroma chemicals, to various countries in Europe and Asia Pacific. The demand for aroma chemicals has been increasing substantially in India due to the rise in the demand for natural personal care products processed using various aroma chemicals and essential chemicals.
  • Rise in the popularity of processed food in countries such as China, India, and countries in ASEAN is also expected to positively impact the demand for aroma chemicals in Asia Pacific during the forecast period.

Global Aroma Chemicals Market: Competition Landscape

  • The report comprises detailed profiles of major players operating in the global aroma chemicals market. It also has a comparison matrix of the top four players operating in the global market, along with their market share analysis and product-application mapping for 2018.
  • Prominent players operating in the global aroma chemicals market are
    • Givaudan
    • Symrise AG
    • International Flavors & Fragrances Inc.
    • Firmenich S.A.
    • Takasago International Corporation
    • BASF SE
    • Kao Corporation
    • Eternis Fine Chemicals Ltd.
  • Emerging players in the global aroma chemicals market are
    • Tennants Fine Chemicals Ltd.
    • Yingyang (China) Flavors & Fragrance Group
    • Privi Organics India Limited
    • QINGDAO COSO INTERNATIONAL TRADING CO., LTD.
    • MANE
      Solvay
    • Nimble Technologies Pvt Ltd.
    • Cedarome
    • Orchid Chemical Supplies Ltd.
    • Anthea Aromatics
    • Oriental Aromatics Limited
    • Robertet SA
    • Tadimety Aromatics Pvt. Ltd.
    • Hindustan Mint & Agro Pvt. Ltd
    • Sensient Flavors and Fragrances Group
    • Dongying Kehong Chemical Co., Ltd.
  • The global aroma chemicals market is highly consolidated among key market players. The top four players account for ~ 55% share of the global market.

Aroma Chemicals Market: Scope of the Report

[376 Pages Report] Transparency Market Research (TMR), in its new research study on the global aroma chemicals market, turns the spotlight on compelling insights for the forecast period of 2019-2027. The report offers in-depth insights to assist stakeholders in efficacious decision-making that would help them achieve their business goals. The report sheds light on notable factors that are constantly shaping the growth of the aroma chemicals market, latent opportunities for manufacturers, trends & developments, and other insights across various key segments. Macroeconomic aspects that have a significant influence on the revenue growth of the global aroma chemicals market are incorporated in the research report.

Key Questions Answered

  • Which is the most preferred application in the aroma chemicals landscape?
  • What will be the aroma chemicals market size in 2027?
  • What is the market share comparison between different source types in the aroma chemicals market?
  • What will the volume sales of aroma chemicals in 2024?
  • Which region will remain the most lucrative for the growth of the aroma chemicals market?

Key drivers pertaining to the aroma chemicals market have been thoroughly evaluated in the research report. The study highlights vital market dynamics such as key indicators, challenges, and trends, along with potential opportunities in the aroma chemicals market. A comprehensive study on the supply chain of the aroma chemicals market has also been encompassed in the research report.

Various projection factors and forecast scenarios of the aroma chemicals market have been encompassed in the research report to understand the future prospects of the market.

A comprehensive evaluation and forecast on the aroma chemicals market has been provided on the basis of source, product, application, and region. The report also highlights imperative numbers such as the historical and estimation sizes of various segments of the aroma chemicals market. Y-o-Y growth comparison along with volume and revenue comparison of various market segments have been covered in the research report. The aroma chemicals market has been analyzed at both, regional and country levels.

The aroma chemicals market report provides an in-depth evaluation on the structure of the market, with a dashboard view of all the leading companies profiled in the research report. A company share analysis on aroma chemicals market players has also been presented in the research report, apart from the footprint matrix on the profiled market players. The report depicts the presence of aroma chemical manufacturers by leveraging an intensity map.

Research Methodology

A realistic methodology along with a holistic approach makes the base for the incisive insights provided in the aroma chemicals market report for the forecast period. This TMR report comprises detailed insights on the growth potential of the aroma chemicals industry, along with ground-breaking insights during the assessment period.

Extensive primary and secondary research has been employed to garner incisive insights into the forecast study of the aroma chemicals market. The report on the aroma chemicals market has undergone extensive cross-validation by in-house professionals to build the credibility and reliability of the aroma chemicals market report. Sources of the information for primary and secondary research for the aroma chemicals market include interviews with key opinion leaders, C-level executives, statistics from governmental organizations, research papers, and paid databases as well.

Aroma Chemicals Market: Segmentation

The aroma chemicals market has been bifurcated on the basis of source, product, application, and region. Each of these segments are further analyzed to provide readers a holistic view of the industry.

Source

Natural

Synthetic

Product

Terpenoids

Benzenoids

Musk Chemicals

Others(Aldehydes,Ketones, Esters,etc.)

Application

Personal Care

  • Fine Fragrances
  • Cosmetics and Toiletries

Household Care

  • Laundry
  • Dishwashing
  • Others (Candles, Incense Sticks, etc.)

Others (Food &   Beverages, Medical, etc.)

Region

North America

Europe

Asia Pacific

Middle East &Africa

Latin America

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