Musk Aroma Chemicals Market Synopsis:
As per Market Research Future (MRFR)’s study, the global musk aroma chemicals market is set to strike a moderate CAGR during the forecast period 2017 to 2023. The rising disposable income and rapid urbanization are likely to increase demand for end-use products in the upcoming years, thus, augmenting the market. Furthermore, rising demand for grooming products among teenagers and adults is anticipated to propel the expansion of the musk aroma chemicals market.
The extension of the end-use industries is presumed to have a favorable impact on the proliferation of the musk aroma chemicals market over the assessment period. The rising demand for these chemicals for the production of cosmetics, soaps, etc. is projected to boost the growth trajectory of the market.
Innovation is the key area of focus for the market participants. Key players are investing in research & development for the development of innovative products. This, in turn, has been presumed to revolutionize the musk aroma chemicals market through the assessment period. On the flip side, the stringent rule regarding the killing of animals and high cost associated with the production of natural chemicals are expected to check the expansion of the market
Musk Aroma Chemicals Market Segmentation:
By source, the global musk aroma chemicals market has been segmented into natural and synthetic.
By application, the musk aroma chemicals market has been segmented into soap & detergent, cosmetics & personal care, food, household products, and others.
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Musk Aroma Chemicals Market Regional Analysis:
By region, the global musk aroma chemicals market has been segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Europe, at present, is dominating the global market and is expected to retain a dominant share of the market in the upcoming years. The regional musk aroma chemicals market is prognosticated to grow substantially over the assessment period owing to its increasing applications in soap & detergent and cosmetics & personal care. Country-level markets such as Russia, Germany, UK, and Italy are likely to contribute massively towards the development of the market.
North America accounts for a remarkable share of the market and is expected to mark a moderate CAGR across the projection period. The factors likely to aid proliferation of the musk aroma chemicals market in the region are increasing consumer base, rising application across different industry verticals, etc. The U.S. and Canada are anticipated to drive the proliferation of the musk aroma chemicals market over the next few years.
Musk Aroma Chemicals Market Competitive Dashboard:
PFW Aroma Ingredients (the Netherlands), The Good Scents Company (U.S.), Bell Flavors & Fragrances (U.S.), Sigma-Aldrich Co. LLC. (U.S.), International Flavors & Fragrances (U.S.), Firmenich (Switzerland), Takasago (Japan), Guangzhou Flower Flavours & Fragrances Co., Ltd. (China), Givaudan (Switzerland), A.M. Aromatics Private Limited. (India) are some of the key players profiled in the report.
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