Fragrance Ingredients Market to Record 3.77% Annual Growth Rate in 2021 | P&G launched its product line featuring premium fragrances through Quiet & Roar, an all-new multi-sensory body care brand, in July 2021 | Technavio | national news

NEW YORK, January 19, 2022 /PRNewswire/ —

Global Perfume Ingredient Facts at a Glance-

  • Total Pages: 120
  • Companies: 10+ – BASF SE, BRENNTAG AG, Ernesto Ventos SA, Firmenich SA, Givaudan SA, Huabao International Holdings Ltd., International Flavors and Fragrances Inc., Symrise AG, Synthite Industries Pvt. ltd. And The MANE Group among others.
  • Blanket: Main Drivers, Trends and Challenges; Product information and news; Value chain analysis; Parent market analysis; Landscape of vendors; COVID Impact and Recovery Analysis
  • segments: Type (essential oils and aromatic chemicals)
  • Geographies: ACPA, Europe, North America, South America, and MEA

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According to recent Technavio market research, the Perfumery Ingredients Marketis expected to grow by USD 2.83 billion from 2020 to 2025, at an accelerated CAGR of 3.90%. The report provides a detailed analysis of drivers and opportunities, top winning strategies, competitive scenario, future market trends, market size and estimates, and major investment pockets.

North America will register the highest growth rate of 38% among other regions. The United States is the key market for the perfumery ingredients market in North America. Moreover, the growth of the market in North America will outpace market growth in MEA regions.

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Overview of Suppliers-

The Fragrance Ingredients market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

The market is expected to grow over the forecast period, driven by growing demand for fragrances and flavors in the food and beverage and cosmetics industries, rapid urbanization, and new product launches.

In April 2021, the Procter & Gamble Co. (P&G) Olay Body brand has launched three new premium body care collections, which constitute the brand’s largest and most innovative product set.

In April 2021, Givaudan SA presented its flower lab, a fully-equipped mobile laboratory that enables innovation in natural extraction techniques and the production of new qualities of perfumery ingredients directly in the field from plants.

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Regional Market Outlook

The growth of the global perfumery ingredients market share in North America will be significant during the forecast period. The large number of vendors offering fragrance ingredients present in the United States is a major factor in the country’s significant contribution to the growth of the market. For example, Vigon International Inc. offers various fragrance ingredients to its consumers.

Additionally, many other vendors are making substantial investments in the fragrance ingredients market by North America, with the aim of designing, developing and launching new, safer and more effective products. Additionally, the wide presence of personal care product vendors will increase the application of a variety of fragrances, which will propel the regional market during the forecast period.

In addition, countries like the United States, China, Germany, UK and India are expected to become significant markets during the forecast period.

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Latest drivers and trends driving the market-

  • Fragrance Ingredients Market Driver:
    • Growth in demand for cosmetics:

The demand for various anti-aging products is subsequently increasing due to the growing elderly population in the world. The high demand can also be attributed to the growing importance of grooming and the desire to look younger than the actual age. Thus, customers are ready to invest heavily in anti-aging cosmetics which are helpful in reducing blemishes, dark spots, skin wrinkles and improving fairness. Strong demand for cosmetics from the elderly population will drive the demand for perfumery ingredients during the forecast period.

  • Fragrance Ingredients Market Trend:
    • Growing preference for natural ingredients:

Compared to synthetic aroma chemicals, there has been a strong demand and preference for natural fragrance ingredients extracted from plants, animals or fruits, which is further expected to boost global fragrance ingredients during the forecast period. This contributes to an increased awareness of the harmful effects of these synthetic chemicals on the skin. Therefore, it is believed that preferences for natural fragrance ingredients are increasing over synthetic chemicals.

Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.

Here are some similar topics-

Perfume Market by Type and Geography – Forecast and Analysis 2022-2026: The perfume the market size has the potential to grow by USD 11.49 million from 2021 to 2026, and the growth momentum of the market will accelerate at a CAGR of 4.71%. Download an exclusive free sample report

Flavors and Fragrances Market by Functionality, Ingredients and Geography – Forecast and Analysis 2021-2025: The flavors and fragrances market size has the potential to grow by $9.33 billion from 2020 to 2025, and the growth momentum of the market will slow down at a CAGR of 5.36%. Download an exclusive free sample report

Fragrance Ingredients Market Scope

Report cover

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 3.90%

Market Growth 2021-2025

$2.83 billion

Market structure

Fragmented

Annual growth (%)

3.77

Regional analysis

North America, Europe, APAC, South America and MEA

Successful market contribution

North America at 38%

Main consumer countries

USA, China, Germany, UK and India

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Reach

Profiled Key Companies

BASF SE, BRENNTAG AG, Ernesto Ventos SA, Firmenich SA, Givaudan SA, Huabao International Holdings Ltd., International Flavors and Fragrances Inc., Symrise AG, Synthite Industries Pvt. Ltd., and the MANE group

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID-19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis market for the forecast period

Personalization area

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