June 14, 2024
India Aroma Chemicals Market

India Aroma Chemicals Market Is Estimated To Witness High Growth Owing To Increased Demand In The Fragrances Industry

The India aroma chemicals market has witnessed significant growth over the past few years. Aroma chemicals refer to organic or synthetic compounds that are added to consumer products such as soaps, cleaners, and personal care products to impart scent. These chemicals play a vital role in the production of perfumes, toiletries, cosmetics, hygiene products and other products that are consumed on a daily basis. The growing demand for natural fragrances and essential oils across various end-user industries like food and beverages, cosmetics and personal care is a major factor driving 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 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 capabilities and launch new products to strengthen their market position.

The rising demand for personal care products and cosmetics from the expanding middle-class population represents a huge opportunity for players in the India aroma chemicals market. Furthermore, increasing spending on premium products is encouraging manufacturers to develop new and innovative fragrances.

Globally, the aroma chemicals market is witnessing strong growth across North America, Europe and Asia Pacific region. The major players are investing significantly in the Indian market and building partnerships with domestic ingredient manufacturers to cater to the local demand.

Market Drivers

The growing demand from the fragrances industry is a major driver for the India aroma chemicals market. Aroma chemicals are widely used in a variety of fragrances for foods, personal care products, household products and more. With rising disposable income, the sales of end-use consumer products are increasing rapidly in India. This is directly contributing to the growth of the aroma chemicals market. Furthermore, rapid urbanization and changing lifestyles are also fueling the demand for aroma chemicals in the country.

PEST Analysis

Political: The India aroma chemicals market is regulated by the Ministry of Chemicals and Petrochemicals and the Bureau of Indian Standards. Some key regulations that impact the market are related to health, safety, and environmental standards.

Economic: Macroeconomic factors such as rising disposable income levels and changing consumer spending patterns have contributed to the growth of end-use industries like food and beverages, pharmaceuticals, and personal care. This drives demand for aroma chemicals.

Social: Changing preference towards natural and organic ingredients is encouraging manufacturers to invest in R&D to produce aroma chemicals from natural sources. Consumer awareness regarding ingredients in products is also prompting companies to ensure transparency.

Technological: New extraction and formulation techniques allow manufacturers to develop innovative aroma ingredients. Advances in synthetic biology and biotechnology aid in efficient production of natural-identical compounds.

Geographical Concentration

In terms of value, North India accounts for a major share of the India aroma chemicals market. States such as Uttar Pradesh, Delhi, and Haryana are major industrial hubs and house several end-use companies. Additionally, Gujarat is a key supplier due to the large number of chemical manufacturers located in cities such as Ahmedabad, Vadodara, and Surat.

Fastest Growing Region

South India is projected to be the fastest growing region for the India aroma chemicals market during the forecast period. Rapid industrialization and establishment of manufacturing facilities by domestic and international players in states like Tamil Nadu, Karnataka, and Telangana are driving market growth. Rising spending power is also propelling demand from the personal care sector.

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