Data from Graphical Research on the global aroma chemicals market indicates the market is expected to grow through 2026, mostly due to growing awareness of the importance of personal care. The rising demand for organic ingredients and the persistent use of aroma chemicals in cosmetics is also expected to help shape the industry.
Natural sources are predicted to hold a sizeable share of the aroma chemicals market due to increased awareness of the health hazards of using synthetic chemicals in personal care and cosmetic products and increased demand for fragrances made from natural ingredients.
The European aroma chemicals market is expected to surpass $2.6 billion by 2026, at a 6.5% CAGR, with musk aroma chemicals likely to make up $140 million of the market. Per the report, increased consumer demand for skin care products made with organic ingredients will help drive the popularity of musk chemicals.
However, strict regulations on producing natural aroma chemicals may drive the production of their synthetic variant. Synthetic aroma chemicals contain petrochemicals and are denser than natural ones. Synthetic sources are anticipated to register a 6% CAGR through 2026 and fine fragrances are estimated to hold a $750 million share in the European aroma chemicals market by 2026.
The Asia Pacific aroma chemicals market is estimated to grow at a 6.5% CAGR through and the North American market is expected to grow at a 5.5% CAGR through 2026.