Aroma Chemicals Market size is valued at USD 5,200.5 million in 2021 and is expected to reach a value of USD 7,172.5 million by 2028, growing at a CAGR of 4.7% during the forecast period 2022 to 2028. The global market provides a detailed overview of the aroma chemicals market and that can be segmented by type and application. By type, the aroma chemicals market has been segmented into vanillin, ethyl vanillin, terpenes, ethyl maltol, propylene glycol, furaneol, benzenoids, musk chemicals, and others. The vanillin segment is likely to be the largest and fastest-growing segment in terms of technology. Based on application, the aroma chemicals market is segmented into soap and detergents, cosmetics and toiletries, fine fragrances, household products, food and beverage, and others. Among these, the fine fragrances segment is expected to have the fastest-growing market during the forecast period 2022-2028.
In Jun 2020, BASF acquired Isobionics to build its own distillation factory to create new flavors and perfumes. The facility will be erected at the Brightlands Chemelot Campus in Geleen, Limburg, the Netherlands.