North America Aroma Chemicals Market Size (2024 - 2029)

The North America aroma chemicals market is experiencing growth, driven by increased demand from the cosmetic industry, particularly among youth and working-class individuals who are more aware of skincare and protection. The market's expansion is supported by advancements in technology for aroma chemical extraction, although it faces challenges from government regulations aimed at ensuring safe usage in household and food products. The COVID-19 pandemic had a mixed impact, boosting demand in the soaps and detergents segment while slowing it in cosmetics and perfumes due to social gathering restrictions. The United States is anticipated to lead the market in demand, supported by the presence and growth of major end-user industries.

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Market Size of North America Aroma Chemicals

North America Aroma Chemicals Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.04 %
Market Concentration Low

Major Players

North America Aroma Chemicals Major Players

*Disclaimer: Major Players sorted in no particular order

North America Aroma Chemicals Market Analysis

The North America aroma chemicals market size is estimated to reach USD 0.95 billion by the end of this year and is projected to reach USD 1.16 billion in the next five years, registering a CAGR of 4.04% during the forecast period.

  • The outbreak of COVID-19 had a mixed impact on the demand for the aroma chemicals market in North America. The soaps and detergents segment was positively impacted owing to the change in lifestyle, which necessitated the increase in hand washing frequencies and better hygiene in general, which led to increased usage of soaps, hand washes, and other products. However, the demand for cosmetics and perfumes slowed down due to restrictions on social gatherings.
  • One of the major factors driving the market studied is the growing demand for aroma from the cosmetic industry owing to the increased usage of these products by youth and working-class due to the rise in awareness about skincare and protection.
  • On the flip side, government regulations on aroma chemicals to ensure their safe usage in household and food and beverage products have been hindering market growth.
  • Advancement in technology for the extraction of aroma chemicals is expected to offer various opportunities for the growth of the market over the forecast period.
  • In the North American region, the United States is expected to dominate the market in terms of demand owing to the vivid presence and continuous expansion of major end-user industries.

North America Aroma Chemicals Industry Segmentation

Aroma chemicals are highly volatile, complex aromatic compounds that are known for enhancing the flavor or fragrance of the formulations into which they are infused.

The aromatic chemicals market is segmented by type, application, and geography. By type, the market is segmented into terpenes, benzenoids, musk chemicals, and other types (esters, ketones, etc.). By application, the market is segmented into soap and detergents, cosmetics and toiletries, fine fragrances, household products, food and beverage, and other applications (textile, tobacco, candles, etc.). The report also covers the market size and forecasts in 3 countries across the North American region. 

For each segment, market sizing and forecasts are provided based on value (USD).

Type
Terpenes
Benzenoids
Musk Chemicals
Other Types (Esters, Ketones, etc.)
Application
Soap and Detergents
Cosmetics and Toileteries
Fine Fragrances
Household Products
Food and Beverage
Other Applications (Textile, Tobacco, Candles, etc.)
Geography
United States
Canada
Mexico
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North America Aroma Chemicals Size Summary

The North America aroma chemicals market is poised for steady growth, driven by increasing demand from the cosmetics and personal care industries. The market is characterized by a diverse range of applications, with aroma chemicals playing a crucial role in enhancing the fragrance of products. The United States stands out as a dominant force in this market, largely due to its robust beauty and cosmetics sector, which is a significant contributor to the global market. The COVID-19 pandemic had a mixed impact on the market, boosting demand for hygiene products while slowing down the cosmetics and perfume segments. However, the rising awareness of skincare and protection among the youth and working-class populations is expected to fuel further growth. Technological advancements in the extraction of aroma chemicals present additional opportunities for market expansion, despite regulatory challenges that aim to ensure the safe use of these chemicals in various consumer products.

The market landscape in North America is fragmented, with key players such as BASF SE, Symrise, and International Flavors & Fragrances Inc. leading the charge. Recent mergers and collaborations, like the one between Firmenich and DSM, highlight the industry's focus on innovation and sustainability. The food and beverage sector also contributes significantly to the demand for aroma chemicals, with the United States being a major player in this domain. The increasing consumer preference for high-quality store-brand products and the rise in online purchasing of fine fragrances further underscore the market's growth potential. As the market continues to evolve, the interplay between consumer trends, technological advancements, and regulatory frameworks will shape the future trajectory of aroma chemicals in North America.

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North America Aroma Chemicals Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Increasing Consumption from the Cosmetics Industry

      2. 1.1.2 Growing Demand for Fine Fragrances

      3. 1.1.3 Other Drivers

    2. 1.2 Market Restraints

      1. 1.2.1 Government Regulations on Aroma Chemicals

      2. 1.2.2 High Research and Development Costs

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Terpenes

      2. 2.1.2 Benzenoids

      3. 2.1.3 Musk Chemicals

      4. 2.1.4 Other Types (Esters, Ketones, etc.)

    2. 2.2 Application

      1. 2.2.1 Soap and Detergents

      2. 2.2.2 Cosmetics and Toileteries

      3. 2.2.3 Fine Fragrances

      4. 2.2.4 Household Products

      5. 2.2.5 Food and Beverage

      6. 2.2.6 Other Applications (Textile, Tobacco, Candles, etc.)

    3. 2.3 Geography

      1. 2.3.1 United States

      2. 2.3.2 Canada

      3. 2.3.3 Mexico

North America Aroma Chemicals Market Size FAQs

The North America Aroma Chemicals is projected to register a CAGR of 4.04% during the forecast period (2024-2029)

BASF SE, Symrise, International Flavors & Fragrances Inc., Bell Flavors & Fragrances and DSM-firmenich are the major companies operating in the North America Aroma Chemicals.

North America Aroma Chemicals Report Snapshots

North America Aroma Chemicals Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)