Global Fragrance Ingredients Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Fragrance Ingredients Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global fragrance ingredients market report has been segmented on the basis of product type, application, and region.
Global Fragrance Ingredients Market: Overview
Fragrance is a mixture of synthetic or natural substances, which added to products to offer desired smell or unique aroma. Fragrance ingredients are used in cosmetics, spray perfumes, soaps & detergents, body care, incense, as well as home care products.
Global Fragrance Ingredients Market: Dynamics
Increasing demand for eco-friendly, natural, and custom-made perfumes along with improved living standard are some major factors estimated to drive revenue growth of the global market during the forecast period. In addition, increasing usage of beauty products to improve physical appearance is another factor expected to boost growth of the global market over the forecast period. In addition, ongoing product innovation, increasing product advertising through various social media applications, and growing demand for air fresheners such as room fresheners, aerosol sprays, and car air fresheners are some other factors expected to propel growth of target market.
A recent trend observed in target market is Government in different countries are supporting research and development activities to use eco-friendly and healthy-products. In addition, growing consumption of personal care products including soaps and detergents and rising awareness about harmful effects of chemicals on the skin are some factors influencing demand for natural and bio-based fragrance ingredients.
However, increasing production cost and presence of chemical ingredients in perfumes may generate side effects such as skin problems and allergies are some factors estimated to hamper growth of the global fragrance ingredients market to a certain extent. According to document published by GreenFacts Organization, fragrance ingredients used in perfumes and perfumed consumer goods such as detergents, cosmetics, fabric softeners, and other household products are responsible for skin irritations and allergic reactions.
Global Fragrance Ingredients Market: Segment Analysis
Among the product type segments, the natural ingredients segment projected to witness high growth rate in the global market over the forecast period. Technical advancements in extraction process and techniques utilize combination of natural and synthetic products is estimated to boost product demand positively.
Among the application segments, the cosmetics segment is estimated to account for a significant share in terms of revenue in the global market.
Global Fragrance Ingredients Market: Regional Analysis
The fragrance ingredients market in Europe is expected to dominate target market in terms of revenue followed by market in North America. This is primarily attributed to high awareness regarding trending fashion and growing demand for natural and bio-based products. The market in Asia Pacific is expected to register high growth in terms of CAGR over the forecast period. Rising demand for fragrances such as perfumes, deodorants, and mists along with growing aging population that consume anti-aging products in countries such as India and China are some key factors fueling growth of the target market in the region. Furthermore, markets in Latin America and Middle East & Africa projected to witness considerable growth over the forecast period, owing to growing demand for soaps & detergents, toiletries, and cosmetics.
Global Fragrance Ingredients Market Segmentation:
Segmentation by Product Type:
- Natural Ingredients (Flower-based, Fruit-based, Spice-based)
- Synthetic Ingredients (Ester, Alcohol, musk chemicals)
Segmentation by Application:
- Fine fragrances & perfumes
- Soaps & detergents
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Firmenich SA
- BASF SE
- Frutarom Industries Ltd.
- Vogele Ingredients
- Symrise AG
- Kalpsutra Chemicals Pvt. Ltd
- International Flavors & Fragrances Inc.
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