Fragrance Ingredients Market 2022-2027: Increase in Per Capita Income Leading to Sufficient Disposable Income for Consumers
The global fragrance ingredients market is expected to grow at a rate of 7.0%, from USD 13.30 billion in 2019 to USD 22.18 billion in 2027.
NEW YORK CITY, NEW YORK, USA, Sept. 13, 2022 /EINPresswire.com/ — The global fragrance ingredients market is expected to reach USD 22.18 billion by 2027, according to a new report from Reports and Data. Fragrance ingredients consist of natural and synthetic substances that, when added to products, give them the desired smell. They are widely used in products such as cosmetics, soaps, toiletries, detergents and others. Fragrance ingredients are a mixture of different chemicals that provide a fragrance similar to an aroma. These ingredients are extracted from petroleum or natural raw materials. Fragrances are actively used in personal care and other consumer products.
Growing demand for natural fragrances and consumer inclination for personal care products and aromatic cosmetics and driving the global growth of fragrance ingredients industry. Continuous product innovation, growing demand for air fresheners such as aerosol, room air freshener, car air freshener and increasing consumer base is expected to propel the growth of the global industry. Growing importance and growing awareness of aromatherapy owing to improved living standards is driving the growth of the market. The increasing use of fragrance ingredients in household products such as candles and scent sticks is fueling the global fragrance ingredients market. Rising preferences for natural fragrances and advancements in technology are showing considerable growth in the market. A large amount of capital investment is needed for R&D programs, growing health concerns regarding skin problems and allergies are hampering the perfume ingredients market to some extent.
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The Fragrance Ingredients Market survey report assesses the global Fragrance Ingredients industry market and provides revenue and capacity forecasts for the projected period from 2020-2027. The factors driving the growth of the industry are highlighted in the report. The report divides the fragrance ingredients market into major categories such as forms, applications, end users, technology, and others for better understanding. These segments are examined in depth to provide a more accurate perspective of global and regional markets. The report also examines key industry players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and market capabilities. development and manufacturing.
Some of the major market players are listed below:
• BASF SE,
• Firmenich International SA,
• Frutarom Industries Ltd.,
• Givaudan SA,
• International Flavors & Fragrances Inc.,
• Mané SA,
• Robertet SA
All companies involved in the processing, packaging and distribution of food raw materials fall under the food and beverage sector. Fresh, packaged meals, as well as alcoholic and non-alcoholic beverages, are all included. Apart from drugs, this industry affects all products intended for human consumption.
Due to the current economic depression caused by the Covid-19 outbreak, consumers are looking to save as much money as possible. Consumers do this in a variety of ways, including buying more generic products and cooking their own meals instead of going out. As a result, food processing companies are becoming more creative in order to reduce the cost of goods sold, attract more customers and increase their profit margins.
Obesity has a huge impact on the global food and beverage industry. The desire for healthy foods has increased, as has the demand for more detailed nutritional information. Companies have responded by launching low-calorie foods and tightening control over how their brand is perceived in response to these two changes. Companies want to be seen as a healthy brand, so they support activities that show it, like youth sports. There has even been talk of imposing a tax on foods linked to obesity to deter people from eating them.
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The report is drafted with the help of industry analysts, market segmentation, and data collection to help readers make profitable business decisions. The report includes a comprehensive database of technical advancements and products. It also provides insights on growth rates and market value along with an in-depth look at niche market segments. The report provides strategic advice to newcomers and existing businesses on how to make profitable and well-informed business decisions.
The Fragrance Ingredients market has been segmented into key regions globally and offers analysis of growth rate, market share, current and emerging trends, production and consumption ratio, chain analysis industry, demand and supply, import and export, revenue contribution and presence of key players in each region. Country-wise market analysis is offered in the report to better understand the regional spread and progress of the Perfumery Ingredients market.
Market segmentation :
Type Outlook (Revenue, USD Billion; 2017-2027)
• Essential oils
• Aromatic chemicals
Application Outlook (Revenue, USD Billion; 2017-2027)
• Personal care
• Customer service
End User Outlook (Revenue, USD Billion; 2017-2027)
• Cosmetics and toiletries
• Refined fragrances
• Soaps and detergents
Key questions addressed in the report:
• What are the dominant factors influencing industry growth?
• During the forecast period, which market segment is expected to grow the most?
• What are the risks and challenges facing the industry?
• In the coming years, which area is expected to dominate the market?
• Who are the main market players? What kinds of strategic business plans have they developed?
The Global Fragrance Ingredients Market is segmented into:
• North America (United States, Canada, Mexico)
• Europe (Italy, UK, Germany, France, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Australia, rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, rest of Latin America)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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