The India aroma chemicals market is primarily involved in the manufacture of aroma chemicals which are extensively used in perfumes, soaps, detergents, air fresheners, canned foods and beverages. Aroma chemicals provide scent and fragrance to various products across industries. Some key aroma chemicals include terpenes, benzenoids, musk chemicals and others. The growing fragrance industry in India coupled with rising consumer spending on personal care and home care products is augmenting the demand for aroma chemicals.
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 players operating in the India aroma chemicals market 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.
Key Takeaways
Key players: Key players operating in the India aroma chemicals market 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. These players are focusing on expansion of their production facilities and launch of new aroma chemicals to meet the growing demand.
Growing Demand: The demand for aroma chemicals is growing owing to increasing application in fragrances, soaps, detergents and other personal care and home care products. Changing lifestyle and rising income levels are driving the sales of these end use products which in turn is propelling the demand for aroma chemicals.
Technological Advancements: Players in the market are investing in research & development to develop new aroma chemicals with better properties and customized fragrances. Advancements in extraction and production technologies are helping companies to improve yields and produce chemicals more efficiently.
Market Trends
Increasing demand for natural extracts - There is a growing consumer preference for natural and organic personal care and home care products. This is boosting the demand for natural aroma chemicals extracted from various plants and herbs.
Rise of small players - The market is witnessing entry of small players who are engaged in production of specific aroma chemicals. Their customized solutions are gaining traction.
Market Opportunities
Expanding application scope - Aroma chemicals find numerous applications in therapeutics, agriculture, food & beverages and more. New applications in these areas will present lucrative growth opportunities.
Growing E-commerce - E-commerce is gaining popularity in India. Online retail of personal and home care brands presents an opportunity to market aroma chemical based products.
Impact of COVID-19 on India Aroma Chemicals Market
The COVID-19 pandemic has negatively impacted the growth of the India aroma chemicals market in its initial months. Lockdowns and restrictions imposed by the Indian government led to temporary closures of manufacturing facilities and disruptions in the supply chain networks. This adversely affected the production and distribution of aroma chemicals in the country. However, aslockdowns eased from mid-2020,the market started recovering steadily. There was a rise in demand for disinfectants, sanitizers and other hygiene products containing aroma chemicals like citral, geraniol etc. Many companies shifted their priorities and started focusing on manufacturing such chemicals to meet this increasing demand. The personal care industry also saw growth opportunities as people paid more attention to personal hygiene and self-care products amid the pandemic. Going forward, continued demand from end-use industries like food and beverages, cosmetics and pharmaceuticals is expected to drive the market's growth prospects in the post-COVID era. However, import/export restrictions and inflationary pressures due to rising raw material prices remain key challenges for stakeholders.
Western region accounts for the major share of the India aroma chemicals market in terms of value currently. States like Maharashtra and Gujarat have emerged as prominent hubs for aroma chemical manufacturing and exports. Strong presence of key players and availability of raw materials have boosted the sector's development in this region over the years. Southern states like Karnataka and Kerala are also growing at a significant pace on account of expanding food processing industry's demand. However, the northern region is projected to witness the fastest growth during the forecast period, driven by increasing investments in perfume making clusters around cities like Delhi NCR and Lucknow. Overall, geographical expansion into new domestic & international markets through strategic collaborations will be crucial for maintaining sustained growth momentum.
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?
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