May 29, 2024
India Aroma Chemicals Market

India Aroma Chemicals Market Is Estimated To Witness Growth Owing To Increasing Demand From F&B Industry

The aroma chemicals market in India has been gaining significant traction over the years owing to the increased utilization of aroma chemicals in various applications such as food & beverage, cosmetics, household care products and others. Aroma chemicals are volatile organic compounds that impart unique fragrances and scents to perfumes, flavors and a range of consumer products. Some of the major aroma chemicals used in India include esters, aldehydes, alcohols, ketones, lactones, terpenoids and essential oils. The rising demand for natural and organic aroma ingredients from food & beverage makers to enhance product flavors has been fueling the growth of the aroma chemicals market in India.

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 & Fragrance 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 expanding their production and manufacturing facilities in India to capture the growing demand. The rising demand for innovative flavors and fragrances from the food processing industry has opened new avenues for aroma chemicals manufacturers. Additionally, increased personal care spending and growing cosmetic industry in India presents lucrative growth opportunities. The market players are also investing in R&D activities to develop sustainable and plant-based aroma ingredients to capitalize on the global shift towards eco-friendly products.

The growing food & beverage sector in India has been a key driver for the aroma chemicals market. Changing dietary habits and rising disposable income have increased the demand for packaged and processed foods requiring superior flavors. Additionally, the demand for artisanal and premium food items has also fueled the utilization of aroma ingredients. Furthermore, the expanding cosmetic industry in India owing to rising beauty-consciousness among consumers has augmented the uptake of perfumes and fragrances utilizing aroma chemicals.

Pest Analysis

Political: The Indian government has imposed strict laws and policies for regulating the aromachemical industry and its production processes. New regulations mandate green chemistries and sustainable practices.

Economic: India’s growing economy and rising consumer spending on premium products positively impact the demand for aroma chemicals used in food, beverages, cosmetics and personal care applications. Devaluation of the rupee also boosts exports.

Social: Rapid urbanization, increasing social media influence, and changing consumer preference towards natural ingredients drive the usage of aroma chemicals in daily and luxury consumer goods. Customers seek relaxation and wellness products.

Technological: Companies focus on continuous R&D to develop innovative extraction techniques like biotechnology, supercritical fluid extraction etc. to produce high quality, sustainable aroma chemicals. Digitalization aids in supply chain and inventory management.

Geographical Concentration

The Indian aroma chemicals market in terms of value is mainly concentrated in Western and Southern regions including Maharashtra, Gujarat, Tamil Nadu and Karnataka. These states have robust manufacturing clusters and export hubs for chemical, food, cosmetic and personal care industries that heavily utilize aroma chemicals.

Fastest Growing Region

The Northern and Eastern regions spanning states like Uttar Pradesh, Bihar, West Bengal are expected to witness highest growth in the aroma chemicals market over the forecast period. This will be driven by expanding domestic consumer demand, rapid industrialization and development of fragrance hubs to cater pan-India as well as overseas markets.

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: CoherentMI, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it