The Global Fragrance Ingredients Market is projected to reach a value of over USD 24.3 billion by 2027 at a CAGR of 7.4%.
Fragrance ingredients can be referred to as the compounds or derivatives that have the ability to impart sweet pleasant distinctive smell. These ingredients can be obtained via synthetic or natural process through petroleum-derived products or natural sources such as plants or animals. It is mostly used in the wide range of perfumes, however, but not restricted to it. It is also used to shampoos, body wash, lotions, creams, shaving gels and other personal care products. In addition to this, these are used in detergents, floor cleaners, car cleaners, air fresheners, fabric softeners and even in the scented candles.
Market Driver:
The perfume industry is witnessing major changes with changing consumer preference towards prestige, niche, and unique fragrance options. Rise in disposable income, growing middle-class population having higher affordability coupled with an increase in the living standards is driving the overall perfume industry. Also, shifting preference of the youth customers towards enhancing self appeal with higher spending on personal grooming is another factor fueling the market growth. An increasing trend of perfume customization according to the customer preference further acts as a factor favoring the market growth.
Additionally, growing demand for essential oils extracted from wild plant populations owing to exotic fragrance is propelling its use across aromatherapy, cosmetic and personal care products. Also, expanding application of various perfumes in the scented products including scented candles, automatic sprays, plug-in scented oils, wax melts and room spray to offer fresh and pleasant vibe further is again fostering the overall market growth.
Market Restraint:
Fragrance ingredient consists of different esters, terpenes, phthalates and other organic chemicals which are listed under the name perfume over the product label. However, such ingredients are often linked to disruptive or even fatal medical symptoms, which may leave a permanent impact on the neurological functioning, respiratory system, hormones, and reproductive health. International Fragrance Association (IFA) listed that styrene, naphthalene, and di-isononyl phthalate and oxybenzone are potential carcinogens used in fragrance. Some of the natural fragrance ingredients may also trigger negative effects on the human body. For instance, studies revealed that perfumes containing lavender and tea tree oil may boost gynecomastia in young males.
The report on the Fragrance Ingredients market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) Volume (Kiloton) |
Segments Included |
Source and Application |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Fragrance Ingredients Market, by Source
Fragrance Ingredients Market, by Application
Fragrance Ingredients Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE FRAGRANCE INGREDIENTS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY