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/EIN News/ -- United States, Rockville, MD, June 28, 2022 (GLOBE NEWSWIRE) -- A recently revamped study conducted by Fact.MR concludes that the global aroma chemicals market is poised to be valued at US$ 8,115.52 Million, growing at a 4.7% value CAGR across the 2022-2032 forecast period. As of 2022, the market is likely to be valued at US$ 5,110 Million. Growth is majorly attributed to extensive applications in the food & beverages and cosmetic industries respectively.
During the historical period 2015-2021, the global aroma chemicals market flourished at a CAGR of 3.4%, reaching a valuation of US$ 5,110 Million by the end of the said period. Aroma chemicals are key ingredients in various products such as baked items, perfumes, candies, alcoholic and non-alcoholic beverages, toiletries, and cleaning products. They are used to enhance taste in canned foods too. Growing demand for luxury and healthcare has increased demand for aroma chemicals in the market.
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Key Takeaways from the Market Study
The majority of the industry's major players have been around for a long time and have large production capacities. As a result, in order to meet the growing demand from end-use markets, they are focusing on product launches, expansion, and acquisitions.
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Key Segments Covered in the Aroma Chemicals Industry Report
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Fact.MR, in its new offering, presents an unbiased analysis of the global aroma chemicals market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of application (soaps & detergents, cosmetics & toiletries and food & beverages ingredients), compound (alcohols, acids, esters, aldehydes, ketones and hydrocarbons), source (natural and synthetic) and type (benzenoids, musk chemicals and terpenoids) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
About the Chemical and Material Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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