The global fragrance ingredients market size reached US$ 9.6 Billion in 2023. Looking forward, the market is projected to reach US$ 15.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.24% during 2023-2032.
Fragrance refers to a unique and intricate combination of various synthetic and natural aromatic ingredients, which are blended and incorporated as a key component in different products to provide them pleasant scent. These substances are precisely extracted from flowers, fruits, shrubs, and herbs for the formulation of aromatic chemicals and several essential oils. After preparation, fragrance ingredients are added as key components for manufacturing spray perfumes, cosmetics, soaps, detergents, incense, personal care, and household products. At present, fragrance ingredients are commercially available in essential oil and aromatic chemical product variants.
This is also supported by rising investments in research and development (R&D) activities by governments of various nations to promote the use of safer, eco-friendly, and dermatologically tested goods, which, in turn, is propelling the market growth. Furthermore, the increasing utilization of fragrances in aromatherapy applications owing to their therapeutic benefits, such as reducing stress, enhancing sleep patterns, and uplifting mood are further contributing to the market growth.
Moreover, the frequent mergers and acquisitions (M&A) amongst key players have led to the introduction of several international fragrance brands across the globe. These establishments have enabled consumers to custom-make their own perfumes and experience contemporary fragrances with oriental notes, which is supporting the market growth. Other factors, such as continuous product innovations and the widespread adoption of smart marketing strategies, are creating a positive outlook for the market.
2. What is the expected growth rate of the global fragrance ingredients market during 2024-2032?
3. What are the key factors driving the global fragrance ingredients market?
4. What has been the impact of COVID-19 on the global fragrance ingredients market?
5. What is the breakup of the global fragrance ingredients market based on the type?
6. What is the breakup of the global fragrance ingredients market based on the application?
7. What are the key regions in the global fragrance ingredients market?
8. Who are the key players/companies in the global fragrance ingredients market?
Fragrance refers to a unique and intricate combination of various synthetic and natural aromatic ingredients, which are blended and incorporated as a key component in different products to provide them pleasant scent. These substances are precisely extracted from flowers, fruits, shrubs, and herbs for the formulation of aromatic chemicals and several essential oils. After preparation, fragrance ingredients are added as key components for manufacturing spray perfumes, cosmetics, soaps, detergents, incense, personal care, and household products. At present, fragrance ingredients are commercially available in essential oil and aromatic chemical product variants.
Fragrance Ingredients Market Trends
The significant expansion in the cosmetic industry, along with the increasing demand for air fresheners and various personal care products, such as creams, shampoos, toiletries, mists, perfumes represent the key factors currently driving the market growth. In line with this, the rising awareness amongst consumers regarding the ill-effects of using chemical-infused personal care products has resulted in a shifting inclination toward natural fragrance ingredients extracted from plants, animals, and fruits.This is also supported by rising investments in research and development (R&D) activities by governments of various nations to promote the use of safer, eco-friendly, and dermatologically tested goods, which, in turn, is propelling the market growth. Furthermore, the increasing utilization of fragrances in aromatherapy applications owing to their therapeutic benefits, such as reducing stress, enhancing sleep patterns, and uplifting mood are further contributing to the market growth.
Moreover, the frequent mergers and acquisitions (M&A) amongst key players have led to the introduction of several international fragrance brands across the globe. These establishments have enabled consumers to custom-make their own perfumes and experience contemporary fragrances with oriental notes, which is supporting the market growth. Other factors, such as continuous product innovations and the widespread adoption of smart marketing strategies, are creating a positive outlook for the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global fragrance ingredients market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, source and application.Breakup by Type:
- Natural Ingredients
- Synthetic Ingredients
Breakup by Source:
- Flower
- Fruits
- Vegetables
- Plant Extracts
Breakup by Application:
- Hair Care
- Personal Care
- Fabric Care
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, Fine Fragrance Pvt. Ltd, Firmenich SA (Sentarom SA), Givaudan, International Flavors & Fragrances Inc., Kalpsutra Chemicals Pvt. Ltd., Mane SA, Robertet Group, S H Kelkar & Co. Limited, Symrise AG, T.Hasegawa Co. Ltd., Takasago International Corporation and Treatt.Key Questions Answered in This Report
1. What was the size of the global fragrance ingredients market in 2023?2. What is the expected growth rate of the global fragrance ingredients market during 2024-2032?
3. What are the key factors driving the global fragrance ingredients market?
4. What has been the impact of COVID-19 on the global fragrance ingredients market?
5. What is the breakup of the global fragrance ingredients market based on the type?
6. What is the breakup of the global fragrance ingredients market based on the application?
7. What are the key regions in the global fragrance ingredients market?
8. Who are the key players/companies in the global fragrance ingredients market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Fragrance Ingredients Market
6 Market Breakup by Type
7 Market Breakup by Source
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- BASF SE
- Fine Fragrance Pvt. Ltd
- Firmenich SA (Sentarom SA)
- Givaudan
- International Flavors & Fragrances Inc.
- Kalpsutra Chemicals Pvt. Ltd.
- Mane SA
- Robertet Group
- S H Kelkar & Co. Limited
- Symrise AG
- T.Hasegawa Co. Ltd.
- Takasago International Corporation
- Treatt
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.6 Billion |
| Forecasted Market Value ( USD | $ 15.2 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
