Market Outlook

Aroma concentrates are obtained by separation process of aromatic compounds from various fruits, flowers, spices, nuts and others. The separation method involves distillation, sieving, enfleurage, solvent extraction and others. Synthetic or artificial aroma concentrates are made through chemical reactions which have odors as per their molecular structures. Synthetic aroma concentrates are less costly, but due to changing the perception of consumers and is increasing demand for use of natural and organic ingredients. Aroma concentrate is widely used for aromatherapy, manufacturing of air fresheners, scented candles and others. Aroma concentrates are also useful for manufacturing of various hair care, skin care and personal care products. Aroma concentrates are increasing its demand in the manufacturing of e-juice or e-liquids which are widely used for vaping in the electronic cigarette or other similar devices.

Increase in Trends for Using Aroma concentrate 

New innovative products are introduced especially in cosmetics, skin care, personal care, toiletries and others is driving the market for aroma concentrate globally. With a rise in population, knowledge, increasing urbanization, changing habits and increasing interest in luxurious lifestyle with shifting trends is driving the market of aroma concentrate. Scented sachets, room sprayers, scented candles are increasing their use to create ambiance and relieve stress. These are available in various fragrances like vanilla, strawberry, blueberry, apple, cinnamon, jasmine, sandal and many others. The increasing trend of organic scented candles and customizing the desired flavors are expected to surge the market of aroma concentrate. An e-cigarette is in the trend which uses e-juice or e-liquids for inhaling and exhaling of vapors which majorly uses aroma concentrates. The practice for aromatherapy using various scents, extracts, essential oils and other is gaining popularity. Aromatherapy is used to treat various diseases and conditions such as burns, skin rashes, eczema, acne, cold and others. It is also used to enhance mood, pain relief, relaxation and sleep. The rising use of various aromatherapy products is expected to increase the market for aroma concentrate.

Aroma Concentrate Market Segmentation

On the basis of nature, the aroma concentrate market has been segmented as-

  • Natural
  • Organic
  • Conventional
  • Artificial/ Synthetic

On the basis of source, the aroma concentrate market has been segmented as-

  • Fruits
  • Flowers
  • Spices
  • Others (Fruit/ vegetable Peels, seeds, woods, stem, leaves, etc.)

On the basis of type, the aroma concentrate market has been segmented as-

  • Oil
  • Extracts
  • E-liquid/ E-juice

On the basis of end user, the aroma concentrate market has been segmented as –

  • Food and Beverages
  • Fragrance Industry
  • Cosmetics
  • Pharmaceuticals

On the basis of application, the aroma concentrate market has been segmented as –

  • Aroma Therapy
  • Air Freshener/ Room Sprayers
  • Scented Sachets
  • Scented Candles
  • Others (household products, perfumes etc.)

On the basis of distribution channel, the aroma concentrate market has been segmented as-

  • B2B
  • B2C
  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Online Stores

Aroma Concentrate Market: Key Players

The key market players operating in aroma concentrate market are Wan Shon Trading Pte Ltd., Kanegrade Ltd., Givaudan SA, Foshan Sennice aromatic factory Ltd., Procimart S.A. Fermenich International SA, Frutarom Industries Ltd., Symrise AG, Frutarom Industries Ltd., and Hindustan Mint & Agro Products Pvt. Ltd. As there is increase in demand of scented products, a lot of regional players are expected to enter in the market and is expected to make the market more competitive, resulting in scale up of aroma concentrate market over the forecast period.

Aroma Concentrate Market Opportunities

The developing practice of aromatherapy at home is trending and is expected to increase the market for aroma concentrates. The manufacturers are expected to come up with new and varied fragrances in the aroma concentrate market. People are shifting from conventional therapeutics to use of natural ingredients, essential oils for treatments, for example, rosemary oil is useful for treating headaches, cold and cough. The benefits of natural products for several health conditions are altering the preference of buyers, which in turn is expected to increase the market the market for aroma concentrate. DIY methods for personal care products and other decoration items are trending which uses various aromatic compounds for preparations, the manufacturers are expected to come up with more innovative fragrances to catch this market. The manufacturers of various cosmetics products are likely to increase the usage of aroma concentrates due to their natural fragrances and its benefits. The manufacturers of various decorative items are coming up with more creative items and are expected to boost the market of aroma concentrate.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Aroma Concentrate Market

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