Fragrance Ingredients Market To Reach USD 24.3 Billion By 2027 | CAGR 7.4% – Forencis Research

Fragrance Ingredients Market - Global Industry Analysis and Forecast 2020 to 2027

Global Fragrance Ingredients Market: Key Highlights

  • According to the new market research report Fragrance Ingredients Market by Source (Natural and Synthetic), by Application (Personal Care Product and Household Product), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Fragrance Ingredients market is estimated to reach USD 24.3 Billion by 2027 at a CAGR of 7.4% during the review period.
  • Fragrance ingredients are the compounds obtained synthetically or extracted from a botanical source, which have the ability to impart a sweet pleasant smell
  • Fragrance ingredients are an important part in the formulation of the personal care products, detergents, cleaners, air fresheners, and scented products

Fragrance Ingredients MarketGlobal Fragrance Ingredients Market: Key Market Dynamics

  • Increasing demand for perfumes owing to changing consumer preference towards unique and niche fragrance options
  • Growing demand for essential oils owing to its exotic fragrance is driving the market growth
  • Rising demand for personal care product is fueling the growth of this market
  • Harmful health effects on the usage of few fragrance ingredients leading to serious allergies and trigger medical conditions may hinder the market growth
  • Shifting Consumer Interest towards Natural Perfume Ingredients is acting as a growth opportunity of the market
  • Lack of appropriate regulation for the chemicals used as fragrance ingredients is a major challenge for the market growth

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Global Fragrance Ingredients Market: Regional Overview

  • Asia-Pacific

The Fragrance ingredient market in Asia-Pacific is witnessing growth owing to shifting preference towards adoption of the products dedicated for men grooming. Availability of the wide range of cosmetic and personal care products enhancing women appeal, owing to higher awareness regarding boosting external aesthetics further drives the market growth. The rise in disposable income, rise in the count of an affluent consumer base with higher spending on scented household products further drives the fragrance ingredient market.

  • Middle East & Africa

The Middle East is the promising region for the beauty and fragrance market owing to higher inclination towards perfumes coupled with an upsurge in the disposable income with the potential population. The trend of personal grooming with higher awareness and desire for luxury perfumes brands is driving the market growth in the region.

Global Fragrance Ingredients Market: Key Players Overview

  • BASF SE:

BASF SE is the German based specialty chemical manufacturers operates through six business line across the world[PK1] [AT2] . In perfume and aroma ingredient’s, BASF is one of the prominent players for production and supply of high-purity aroma ingredients. The company offers bio-based aroma ingredients including rose, citrus, lavender, muguet, Nootkatone, Valencene, sandalwood, menthol and others. The company is actively involved in expanding the product range through strategic planning. In 2019, BASF acquired the Isobionics (the Netherlands) and has expanded the foothold of the natural ingredients by adding the acquired company’s product portfolio.  

  • Firmenich SA:

Firmenich SA, a company engages in the production and distribution of the vast range of flavor and fragrance and chemicals. The perfumery segment includes a range of the products used as a fine fragrance, in consumer fragrance, and oral care. The product range includes natural and synthetic fragrance ingredients for the perfumes, hair care and laundry products, air fresheners worldwide.

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 [PK1]BASF SE is (a german based,) one of the leading specialty chemical manufacturer across the globe. The company operates through six business line namely****************

 [AT2]Updated

Rep Id : FnB 046

Published : 2020-09-18

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