Fragrance Ingredients Market Forecast, Size 2022-2027 |
The latest research study “Fragrance Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, reveals that the global fragrance ingredients market size reached $8.46 billion 2021. Looking ahead, IMARC Group expects the market to reach a value of US$12.25 billion by 2027, growing at a growth rate (CAGR) of 6.10% at during the period 2022-2027.
Impact of Covid-19:
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Industry definition and application:
Fragrance ingredients refer to various synthetic and natural substances that are added with solvents, fixatives and oils to produce a distinctive aroma. They consist of benzyl alcohol, camphor, lemongrass, basil, acetone, linalool, ethanol, methylene chloride, limonene, etc.
These fragrant ingredients induce a refreshing scent in body, hair and fabric care products and help prevent bad odours. Therefore, fragrance ingredients find wide applications in cosmetics, soaps, toiletries, fine fragrances, and several household products, such as incense sticks, candles, detergents, scouring cleansers, etc
Fragrance Ingredients Market Trends and Drivers:
Shifting preferences towards organic, eco-friendly and personalized fragrances are some of the key factors driving the fragrance ingredients market. Moreover, the increasing use of air fresheners for rooms and cars acts as another important growth factor.
In addition, growing investments by major market players in research and development (R&D) activities to introduce innovative products and increase in advertising and promotional campaigns on social media platforms to raise consumer awareness and improve sales are influencing also positively the world market.
In addition, the expansion of the cosmetics industry across the world and the growing demand for personal care products including body lotions, hair oils, creams, cleansing gels, shampoos, etc. are expected to catalyze the fragrance ingredients market in the coming years.
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The report has segmented the market into the following categories:
Breakdown by type:
• Natural ingredients
• Synthetic ingredients
Breakdown by source:
• Plant extracts
Breakdown by application:
• Hair care
• Personal care
• Fabric care
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
List of major key players:
Major players in the market are BASF SE, Fine Fragrance Pvt. Ltd, Firmenich SA (Sentarom SA), Givaudan, International Flavors & Fragrances Inc., Kalpsutra Chemicals Pvt. Ltd., Mane SA, Robertet Group, SH Kelkar & Co. Limited, Symrise AG, T.Hasegawa Co. Ltd., Takasago International Corporation and Treatt.
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