Spain Aroma Chemicals Market Outlook

spain is the fourth largest producer of aroma chemicals in the european union, and plays a major role in the regional industry. with the increasing penetration of organics, naturals and essential oils across various industries in recent years, demand for aroma chemicals in spain has increased significantly. as of 2018, the spanish aroma chemicals industry exhibits a moderately consolidated vendor landscape, with main suppliers including symrise ag, international flavors & fragrances (iff), givaudan, takasago corporation, and firmenich. in recent years, these leading suppliers have been expanding their product portfolios, thereby consolidating their positions in the spanish aroma chemicals market. in the near future, spain’s aroma chemicals market is slated to benefit from rising awareness of holistic wellbeing and the demand for natural/sustainable solutions. in order to cater to this rising demand, major players in the spanish aroma chemicals market are expected to leverage a wide range of naturally derived aroma chemicals from certain sources, such as plants, flowers, fruits, fish, and other sources. this is expected to drive the growth of the overall aroma chemicals market in spain. spain is also expected to benefit from the rising trend of organic and natural labeling among food and personal care products. as per a recent report from the spanish national statistics institute (ine), spain’s organic food production has grown by more than 18% since 2015. this rising trend is expected to open up opportunities for bio-based aroma chemicals as well, which are expected to gain traction during the forecast period. furthermore, spain is expected to gain further momentum from the development of innovative application areas. for instance, spanish companies are increasingly developing antimicrobial and antioxidative aroma chemicals which can be widely used in nutraceuticals, functional food and beverages, and cosmetics. in the long run, the rising demand for emerging applications in spain is expected to present further opportunities for companies to launch innovative new products. additionally, the development of biodegradable aroma chemicals will also drive the overall growth of the spanish aroma chemicals market.