Asia Pacific 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)
The aroma ingredients market in Asia Pacific is expected to grow from US$ 1,851.36 million in 2021 to US$ 2,820.15 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028.
Manufacturing companies are focusing on innovations for developing new products to provide an enhanced experience to customers. Moreover, intense competition in the acrylamide market is driving the focus toward using digital tools to create new fragrance ingredient combinations and customizations. For instance, BASF SE developed an innovative approach to the virtual innovation ecosystem, which combines its strength in chemistry with the understanding of flavor and fragrance houses and the company's partners in the flavors & fragrances (F&F) industry. This innovative ecosystem includes a digital screening of BASF's molecules to search for substances meeting new aroma ingredient requirements and partnering with the companies assessing and developing fresh aroma ingredients. Further, Givaudan fragrances launched Carto as part of its 2020 innovative digital strategy, the latest intuitive and interactive system that reinvents the way perfumes are created. This artificial-intelligent (AI) tool was designed to use the company's unique ingredients for maximizing the olfactive performance in the final formula. Symrise has developed a unique fragrance from Lilybelle (a renewable source), which is made by using the byproducts of the orange juice industry; ~83% of it is composed of renewable raw materials. Thus, such innovations in the aroma ingredient market are expected to lead to future trends in the aroma ingredients market.
With these new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific aroma ingredients market at a substantial CAGR during the forecast period.
Asia Pacific Aroma Ingredients Market Revenue and Forecast to 2028 (US$ Million)
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Asia Pacific Aroma Ingredients Market Segmentation
The Asia Pacific 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, cleaning and sanitization segment held the largest share in the market, personal care and cosmetics is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. In 2020, China held the largest share in the market, and it 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; Zhejiang NHU Co., Ltd.; and Phoenix Aromas & Essential Oils, LLC are among the leading companies in the Asia Pacific aroma ingredients market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. Asia Pacific Aroma Ingredients Market Landscape
4.1 Market Overview
4.2 Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Suppliers
4.2.3 Bargaining Power of Buyers
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Asia Pacific Aroma Ingredients Market — Key Market Dynamics
5.1 Market Drivers
5.1.1 Accelerated Demand from Personal Care and Cosmetic Industry
5.1.2 Varied Applications of Aroma Ingredients
5.2 Market Restraints
5.2.1 Rigorous Regulations on Synthetic Aroma Ingredients
5.3 Market Opportunities
5.3.1 Increased Expansion of Pharmaceuticals Industry
5.4 Future Trends
5.4.1 Heighten Innovations in Raw Materials and Production Processes
5.5 Impact Analysis of Drivers and Restraint
6. Asia Pacific Aroma Ingredients Market Analysis
6.1 Asia Pacific Aroma Ingredients Market Overview
6.2 Asia Pacific Aroma Ingredients Market –Revenue and Forecast to 2028
7. Asia Pacific Aroma Ingredients Market Analysis – By Product Type
7.1 Overview
7.2 Asia Pacific Aroma Ingredients Market, By Product Type (2020 and 2028)
7.3 Synthetic:
7.3.1 Overview
7.3.2 Synthetic: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Natural:
7.4.1 Overview
7.4.2 Natural: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Aroma Ingredients Market Analysis – By Application
8.1 Overview
8.2 Asia Pacific Aroma Ingredients Market, By Application (2020 and 2028)
8.3 Air Care:
8.3.1 Overview
8.3.2 Air Care: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Cleaning and Sanitization:
8.4.1 Overview
8.4.2 Cleaning and Sanitization: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Personal Care and Cosmetics:
8.5.1 Overview
8.5.2 Personal Care and Cosmetics: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Fine Fragrances and Perfumes
8.6.1 Overview
8.6.2 Fine Fragrances and Perfumes: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Aroma Ingredients Market – Country Analysis
9.1 Overview
9.1.1 Asia Pacific: Aroma Ingredients Market, by Key Country
9.1.1.1 Australia: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Aroma Ingredients Market, by Product Type
9.1.1.1.2 Australia: Aroma Ingredients Market, by Application
9.1.1.2 China: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Aroma Ingredients Market, by Product Type
9.1.1.2.2 China: Aroma Ingredients Market, by Application
9.1.1.3 India: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Aroma Ingredients Market, by Product Type
9.1.1.3.2 India: Aroma Ingredients Market, by Application
9.1.1.4 Japan: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Aroma Ingredients Market, by Product Type
9.1.1.4.2 Japan: Aroma Ingredients Market, by Application
9.1.1.5 South Korea: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Aroma Ingredients Market, by Product Type
9.1.1.5.2 South Korea: Aroma Ingredients Market, by Application
9.1.1.6 Rest of Asia Pacific: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Asia Pacific: Aroma Ingredients Market, by Product Type
9.1.1.6.2 Rest of Asia Pacific: Aroma Ingredients Market, by Application
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 Takasago International Corporation
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 BASF SE
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 FIRMENICH SA
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Givaudan
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 International Flavors & Fragrances Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Robertet Group
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Symrise
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 MANE
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Zhejiang NHU Co., Ltd.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Phoenix Aromas & Essential Oils, LLC
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Australia Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 3. Australia Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 4. China Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 5. China Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 6. India Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 7. India Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 8. Japan Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 9. Japan Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 10. South Korea Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 11. South Korea Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 12. Rest of Asia Pacific Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 13. Rest of Asia Pacific Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Aroma Ingredients Market Segmentation
Figure 2. Asia Pacific Aroma Ingredients Market Segmentation – By Country
Figure 3. Asia Pacific Aroma Ingredients Market Overview
Figure 4. Asia Pacific Aroma Ingredients Market, By Product Type
Figure 5. Asia Pacific Aroma Ingredients Market, By Country
Figure 6. Asia Pacific Aroma Ingredients Market, Industry Landscape
Figure 7. Porter's Five Forces Analysis
Figure 8. Expert Opinion
Figure 9. Asia Pacific Aroma Ingredients Market – Ecosystem Analysis
Figure 10. Asia Pacific Aroma Ingredients Market Impact Analysis of Drivers and Restraints
Figure 11. Asia Pacific Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Asia Pacific Aroma Ingredients Market Revenue Share, By Product Type (2020 and 2028)
Figure 13. Synthetic: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Natural: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Asia Pacific Aroma Ingredients Market Revenue Share, By Application (2020 and 2028)
Figure 16. Air Care: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Cleaning and Sanitization: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Personal Care and Cosmetics: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Fine Fragrances and Perfumes: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Geographic Overview of Asia Pacific Aroma Ingredients Market
Figure 22. Asia Pacific: Aroma Ingredients Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. Australia: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Figure 24. China: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. India: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. Japan: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Figure 27. South Korea: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of Asia Pacific: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
- Takasago International Corporation
- BASF SE
- FIRMENICH SA
- Givaudan
- International Flavors & Fragrances Inc.
- Robertet Group
- Symrise
- MANE
- Zhejiang NHU Co., Ltd.
- Phoenix Aromas & Essential Oils, LLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific aroma ingredients market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific aroma ingredients market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the aroma ingredients market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution