Fragrance and Essence Manufacturing in China - Industry Market Research Report

The Fragrance and Essence Manufacturing industry is an important raw material supporting industry of food and beverage, daily chemical and other industries, and is closely related to the improvement of residents' living standards, promoting domestic demand and consumption. Industry revenue is expected to total $14.0 billion in 2023, declined by 2.5% from 2022, mainly driven by economic downturn, shrinking demand and other factors. Industry revenue is expected to increase at an annualized 0.7% over the five years through 2023. Profit margins have recovered to 8.4% of industry revenue in 2023. Industry operators produce natural and synthetic spices and essences. These products are further segmented into flavors and fragrances. Flavors are essences added to food, beverages, pharmaceuticals, animal feed, tobacco, and other products. Fragrances are essences added to soaps, detergents, cosmetics, toiletries, perfumes, household cleaning products, candles, insecticides, and aromatherapy products. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.