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Study Period | 2019 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Historical Data Period | 2019 - 2023 |
CAGR | 5.48 % |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
India Aroma Chemicals Market Analysis
The India Aroma Chemicals Market is expected to register a CAGR of 5.48% during the forecast period.
Unlike various other chemicals, the demand for aroma chemicals witnessed a positive impact of the COVID-19 outbreak, specifically due to the growth in demand for soaps and detergents. A lifestyle change necessitated increased hand washing frequencies and better hygiene in general, which led to increased usage of soaps, hand washes, and other products. However, the nationwide lockdown has led to several production and overall operations challenges.
- One of the major factors driving the market studied is the growing demand for flavors and fragrances in the food and beverage industry owing to increased consumption of packaged and convenience foods.
- Conversely, high research and development costs for aroma chemicals hinder the market's growth.
- Advancement in technology for the extraction of aroma chemicals is expected to offer various opportunities for market growth over the forecast period.
India Aroma Chemicals Market Trends
Terpenes to Dominate the India Aroma Chemicals Market
- Terpenes are compounds that possess exceptional medicinal properties. These are known to be anti-carcinogenic, antiseptic, and antimicrobial, owing to which terpenes are utilized in fragrances, alternative medicine (aroma therapy), essential oils, and the food and beverage industry.
- India is one of the largest producers of essential oil and fine fragrances. The country is known for various kinds of oils and fragrances that are widely in demand for healing and rejuvenation across the globe.
- Overseas flavor and fragrance manufacturers continue expanding their presence in India under expectations of high profits due to positive demand patterns and ease in the availability of raw materials.
- In November 2022, MANE, a major favor and fragrance manufacturer based in France, announced the inauguration of its largest facility in Gujarat, India. The company already has a plant in the country; the company's annual production capacity at the Dahej plant is 2,000 tons of flavor products and 3,000 tons of fragrance products.
- India is a net exporter of perfumes. The export increase indicates the rise in the production of aroma chemicals, including terpene-type aroma chemicals. As per the data from International Trade Centre, India exported 26.77 kilotons of perfumes and toilet water in 2022, showcasing a rise of nearly 48.6% from the previous year.
- All these factors positively impact the market's terpenes segment of aroma chemicals.
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Increasing Usage in the Food and Beverage Industry
- Aroma chemicals enhance the flavor or fragrance of various food and beverages. Enhanced consumption of packaged food in developing economies has led to a surge in demand for aroma chemicals.
- According to the Indian Council for Research on International Economic Relations (ICRIER), India is one of the largest- and fastest-growing markets for both alcoholic and non-alcoholic beverages. Among various beverages, fruit juices, energy drinks, and other carbonated beverages are popular in the Indian market.
- Furthermore, according to ICRIER, the non-alcoholic beverages market could reach USD 22.81 billion by 2030.
- According to Coca-Cola, India has a long-term potential for growth of the beverage industry across all dimensions in terms of distribution, brands, number of packages, and affordable packs, thereby signifying the strengthening of the industry in the next several years.
- On the other hand, according to the United States Department of Agriculture (USDA), the Indian food industry ranks as the third-largest food industry globally. The industry has been experiencing steady growth over the past several years, with India anticipated to become the largest food producer in the world. Furthermore, the country's food and grocery (F&G) retail market is projected to surpass USD 850 billion in sales by 2025.
- Such trends and expected growth in the food and beverage industry promise a positive outlook for India's demand for aroma chemicals.
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India Aroma Chemicals Industry Overview
The Indian Aroma Chemicals market is fragmented by nature. Some of the major players in the market (in no particular order) include International Flavors & Fragrances Inc., The Anthea Group, Privi Speciality Chemicals Limited, Eternis Fine Chemicals Limited, and S H Kelkar And Company Limited, among others.
India Aroma Chemicals Market Leaders
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International Flavors & Fragrances Inc.
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The Anthea Group
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Privi Speciality Chemicals Limited
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Eternis Fine Chemicals Limited
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S H Kelkar And Company Limited
- *Disclaimer: Major Players sorted in no particular order
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India Aroma Chemicals Market News
January 2023: S H Kelkar and Company revealed that its wholly owned subsidiary, Keva Europe B.V. acquired a 100% stake in PFW Aroma Ingredients B.V. (PFW) from Keva UK. The acquisition has strengthened the aroma chemicals business of the company.
August 2022: Oriental Aromatics Ltd. announced an investment of nearly INR 1.3 - 1.5 billion (USD 15.69 - 18.10 million) for the development of a hydrogenation plant in Vadodara for specialty aroma chemicals. The plant is expected to be commissioned by the H2 of F.Y. 2024.
India Aroma Chemicals Industry Segmentation
Aroma chemicals are highly volatile, complex aromatic compounds known for enhancing the flavor or fragrance of the formulations into which they are infused.
The Indian aroma chemicals market is segmented by type and application. The market is segmented by terpenes, benzenoids, musk chemicals, and other types (esters, ketones, etc.). The market is segmented by application into soap and detergents, cosmetics and toiletries, fine fragrances, household products, food and beverage, and other applications (textile, tobacco, candles, etc.). For each segment, market sizing and forecasts have been done based on revenue (USD).
Type | Terpenes |
Benzenoids | |
Musk Chemicals | |
Other Types (Esters, Ketones, etc.) | |
Application | Soap and Detergents |
Cosmetics and Toileteries | |
Fine Fragrances | |
Household Products | |
Food and Beverage | |
Other Applications (Textile, Tobacco, Candles, etc.) |
Frequently Asked Questions
What is the current undefined size?
The undefined is projected to register a CAGR of 5.48% during the forecast period (2025-2030)
Who are the key players in undefined?
International Flavors & Fragrances Inc., The Anthea Group, Privi Speciality Chemicals Limited, Eternis Fine Chemicals Limited and S H Kelkar And Company Limited are the major companies operating in the undefined.
What years does this undefined cover?
The report covers the undefined historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the undefined size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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India Aroma Chemicals Industry Report
Statistics for the 2025 India Aroma Chemicals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Aroma Chemicals analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.