June 21, 2024
India Aroma Chemicals Market

India Aroma Chemicals Market to Witness Upsurge In Demand due to Rising Cosmetic Industry in India

The India aroma chemicals market comprises artificial materials used for flavoring and perfuming consumer goods including cosmetics, perfumes, soaps, detergents, and food products. Aroma chemicals provide olfactory effects including sweet, floral, woody, fruity, and citrus smells. They are extensively used in products like air fresheners, beauty products, fine fragrances, consumer goods, and homecare. The rising demand for natural and organic ingredients in cosmetics and personal care has fueled the growth of aroma chemicals produced from plant extracts. India is a major exporter of aroma chemicals, with a well-established cosmetics and fragrance industries.

The Global India Aroma Chemicals Market Size is estimated to be valued at US$ 276.1 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the India aroma chemicals are International Flavors & Fragrances Inc., The Anthea Group, Privi Speciality Chemicals Limited, Eternis Fine Chemical Limited., S H Kelkar and Company Limited and Among Others.

The rising domestic demand for premium cosmetic products along with expanding personal care and beauty sector in India has been driving the consumption of aroma chemicals. Demand for natural ingredients in the cosmetics industry has provided impetus to the market.

Heavy investments in R&D by key players for developing sustainable and plant-based aroma chemicals along with the expansion of production facilities across Asia Pacific and Middle East is anticipated to offer opportunities over the coming years.

Market Key Trends

The growing importance of ‘wellness’ segment among consumers has bolstered demand for essential oils and plant-based extracts in personal care, cosmetics, and food & beverages. Key players are investing in sustainable and natural aroma chemicals to cater to this demand. They are also focusing on multi-functional aroma chemicals with therapeutic properties to leverage on the wellness trend.

Porter’s Analysis

Threat Of New Entrants: The threat of new entrants is high as the entry barriers are low in aroma chemicals market. However, the availability of raw materials, established supply chains and the competitive rivalry make it difficult for new players.

Bargaining Power Of Buyers: The bargaining power of buyers is high due to the availability of substitutes and buyers can negotiate for better prices from suppliers in the aroma chemicals market.

Bargaining Power Of Suppliers: The bargaining power of suppliers is moderate as a few suppliers dominate this market and established suppliers can influence prices moderately.

Threat Of New Substitutes: The threat of substitutes is moderate as natural aroma chemicals have limited substitutes, however synthetic aroma chemicals have higher substitutes.

Competitive Rivalry: The competitive rivalry is high due to presence of established international and local players offering varied products in the aroma chemicals market.

Geographical Regions: India is the largest market for aroma chemicals in terms of value share in Asia Pacific region. The availability of raw materials and demand from perfumes, soaps, air fresheners industries drive the market in the country.

Fastest Growing Region: South East Asia is poised to be the fastest growing region in aroma chemicals market during the forecast period. The increasing disposable incomes, changing lifestyle and rising demand for personal care and air care products are fuelling the market growth in the region.

What Are The Key Data Covered In This India Aroma Chemicals Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the India Aroma Chemicals Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the India Aroma Chemicals Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- India Aroma Chemicals Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of India Aroma Chemicals Market vendors

FAQ’S

Q.1 What are the main factors influencing the India Aroma Chemicals market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top India Aroma Chemicals Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the India Aroma Chemicals market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it