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)
The aroma ingredients market in North America is expected to grow from US$ 1,401.25 million in 2021 to US$ 1,976.84 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2021 to 2028.
A change has been witnessed in consumers' perception of fragrances as a necessity for cosmetic & personal care products. Moreover, an increase in consciousness regarding personal appearance in recent years has propelled the demand for cosmetic products, resulting in the growth of the cosmetics business. The growing cosmetic industry in North America is expected to increase the demand for aroma ingredients used in various cosmetic & personal care products. Aroma ingredients are the isolates of naturally sourced or chemically synthesized ingredients, which are used to add aroma or fragrance to different cosmetic & personal care products, such as creams, lotions, hair oils, soaps, and shampoos. The International Fragrance Association (IFRA) stated that smell is an essential part of peoples' lives and fragrance plays a vital role in consumers' purchase decisions. For instance, a recent report published by PricewaterhouseCoopers (PwC) for IRFA in 2019 stated that consumers were willing to pay ~88% of the additional price of a product for the fragrance. Thus, the growing cosmetic & personal care industry and the change in consumers' perception of the use of fragrances in cosmetic & personal care products are driving the growth of the aroma ingredients market across the region.
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 North America aroma ingredients market at a substantial CAGR during the forecast period.
North America Aroma Ingredients Market Revenue and Forecast to 2028 (US$ Million)
North America Aroma Ingredients Market Segmentation
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.
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. North America 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. North America Aroma Ingredients Market — Key Market Dynamics
5.1 Market Drivers
5.1.1 Raising Demand from Personal Care and Cosmetic Industry
5.1.2 Wider Applications of Aroma Ingredients
5.2 Market Restraints
5.2.1 Strict Regulations on Synthetic Aroma Ingredients
5.3 Market Opportunities
5.3.1 Broadening Expansion of Pharmaceuticals Industry
5.4 Future Trends
5.4.1 Strengthening Innovations in Raw Materials and Production Processes
5.5 Impact Analysis of Drivers and Restraint
6. North America Aroma Ingredients Market Analysis
6.1 North America Aroma Ingredients Market Overview
6.2 North America Aroma Ingredients Market –Revenue and Forecast to 2028
7. North America Aroma Ingredients Market Analysis – By Product Type
7.1 Overview
7.2 North America 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. North America Aroma Ingredients Market Analysis – By Application
8.1 Overview
8.2 North America 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. North America Aroma Ingredients Market – Country Analysis
9.1 Overview
9.1.1 North America: Aroma Ingredients Market, by Key Country
9.1.1.1 US: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Aroma Ingredients Market, by Product Type
9.1.1.1.2 US: Aroma Ingredients Market, by Application
9.1.1.2 Canada: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Aroma Ingredients Market, by Product Type
9.1.1.2.2 Canada: Aroma Ingredients Market, by Application
9.1.1.3 Mexico: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Aroma Ingredients Market, by Product Type
9.1.1.3.2 Mexico: 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 Phoenix Aromas & Essential Oils, LLC
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
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. North America Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico Aroma Ingredients Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Aroma Ingredients Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Aroma Ingredients Market Segmentation
Figure 2. North America Aroma Ingredients Market Segmentation – By Country
Figure 3. North America Aroma Ingredients Market Overview
Figure 4. North America Aroma Ingredients Market, By Product Type
Figure 5. North America Aroma Ingredients Market, By Country
Figure 6. North America Aroma Ingredients Market, Industry Landscape
Figure 7. Porter's Five Forces Analysis
Figure 8. Expert Opinion
Figure 9. North America Aroma Ingredients Market – Ecosystem Analysis
Figure 10. North America Aroma Ingredients Market Impact Analysis of Drivers and Restraints
Figure 11. North America Aroma Ingredients Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America 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. North America 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 North America Aroma Ingredients Market
Figure 22. North America: Aroma Ingredients Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. US: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: Aroma Ingredients Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mexico: 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
- 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 North America 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 North America 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 North America 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