Report : North America Aroma Ingredients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Synthetic and Natural) and Application (Air Care, Cleaning and Sanitization, Personal Care and Cosmetics, Fine Fragrances and Perfumes, and Others)
Synthetic segment to dominate the North America Aroma Ingredients Market during 2020–2028
According to a new market research study on “North America Aroma ingredients market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, and Application” is expected to reach US$ 1,976.84 million by 2028 from US$ 1,401.25 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the North America aroma ingredients market along with the drivers and restraints pertaining to the market growth. Wider applications of aroma ingredients, raising demand from personal care and cosmetic industry, and strengthening innovations in raw materials and production processes are the major factor driving the growth of the North America aroma ingredients market. However, strict regulations on synthetic aroma ingredients hinders the growth of North America aroma ingredients market.
The North America aroma ingredients market is segmented on the basis of type, application, and country. Based on type, the market is segmented into synthetic and natural. In 2020, synthetic segment held the largest share in the market, natural is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into air care, cleaning and sanitization, personal care and cosmetics, fine fragrances and perfumes, and others. In 2020, personal care and cosmetics segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into the US, Canada, and Mexico. In 2020, the US held the largest share in the market, and Mexico is expected to be the fastest growing country during the forecast period.
Takasago International Corporation; BASF SE; FIRMENICH SA; Givaudan; International Flavors & Fragrances Inc.; Robertet Group; Symrise; MANE; and Phoenix Aromas & Essential Oils, LLC are among the leading companies in the North America aroma ingredients market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For Instance, Phoenix Aromas and Essential Oils, LLC announced the merger with Tilley Company. Tilley Company is a supplier of flavor, fragrance, and food ingredients in North America.
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