Global Fragrance Ingredients Market Revenue Is Predicted to Increase Approximately $25 Billion By 2030

Global Fragrance Ingredients Market Size Anticipated To Augment at a CAGR Of Over 7.6% by 2030

The global fragrance ingredients industry size was nearly $15 Billion in 2022 and is predicted to increase to approximately $25 Billion by 2030 along with recording a CAGR of nearly 7.6% from 2023 to 2030.

Fragrances are substances that possess strong-smelling organic compounds having characteristic & pleasant odors. Manufacturers make use of these fragrances in a large number of products as perfumes. These products find a spectrum of applications in incense sticks, cosmetics, laundry, toiletries, air fresheners, households, and candles. Apart from this, fragrance ingredients are utilized for making exclusive combinations and are mixed with fine fragrance items, personal care items, personal care products, and home care items. Furthermore, manufacturers derive fragrances from natural and synthetic ingredients that include esters, alcohols, ketones, esters, and aldehydes.

An increase in demand for natural, environment-friendly, and customized perfumes are of the major factors steering the expansion of the global fragrance ingredients market. In addition to this, the rise in demand for personal care products for improving visual & physical appearance will drive the market growth trends across the globe. Various governments across the globe are encouraging the use of eco-friendly products, thereby generating huge demand for fragrance ingredients. Surging customer awareness pertaining to the significance of cleanliness and personal hygiene has led to humungous demand for detergents, thereby providing impetus to the fragrance ingredients market size.

However, a rise in production costs and the high proportion of chemical ingredients present in perfumes causing allergies on the skin can hinder the growth of the global fragrance ingredients industry. The evolution of arachnology and the utility of fragrances in therapeutic applications for reducing anxiety & stress will open new growth opportunities for the global industry.

The global fragrance ingredients market is divided into type, application, source, and region. 

In terms of source, the fragrance ingredients market globally is segmented into plant extracts, flowers, fruits, and vegetable segments. Furthermore, the plant extracts segment is anticipated to contribute majorly towards the global market share during the projected timeline. The segmental expansion can be due to the growing demand for natural and organic products that are derived from plant extracts.

In terms of type, the global fragrance ingredients market is sectored into natural ingredients and synthetic ingredients segments.

Based on the application, the fragrance ingredients industry across the globe is bifurcated into hair care, fabric care, personal care, and others segments. Moreover, the personal care segment, which accounted for the largest share of the global industry in 2022, will maintain its dominant status in the forecasting timeline. The segmental growth can be due to an increase in the use of personal care products including detergents and soaps along with demand for bio-based fragrance ingredients.

The fragrance ingredients market in Europe is anticipated to garner a major chunk of the global market share during the assessment period. Apparently, the regional market surge in the ensuing years can be owing to a rise in demand for fragrance ingredients in the countries such as Switzerland, France, and Germany

Furthermore, the fragrance ingredients industry in the Asia-Pacific will register the highest gains during the forecast timeline. The expansion of the industry in the sub-continent can be subject to the massive utilization of fragrances for aroma and flavor since ancient times in the countries such as China and India. In addition to this, growing awareness about the benefits accrued by the use of personal care products and cosmetics in the region will prompt the regional market surge.

This review is based on a report by Zion Market Research, titled “Fragrance Ingredients Market By Type (Natural Ingredients And Synthetic Ingredients), By Application (Hair Care, Fabric Care, Personal Care, And Others), By Source (Flowers, Vegetables, Fruits, And Plant Extracts), And By Region - Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/fragrance-ingredients-market

Recent Developments:

• In the first half of 2020, Firmenich SA, a Swiss firm in the fragrance & flavors business, declared that it had completely acquired Les Dérivés Résiniques et Terpéniques, a chemical manufacturing firm based in France. The move is likely to augment the expansion of the global fragrance ingredients industry in the years to come.
• In the first quarter of 2020, Givaudan, a Switzerland manufacturer of flavors, fragrances, and active cosmetics ingredients, declared a complete acquisition of Ungerer & Company, Inc., a major producer of high-quality fragrances and flavors. Such moves will prompt the fragrance ingredients business in Switzerland, France, and across the European continent.
• In July 2022, BASF Aroma Ingredients, a leading producer & supplier of aroma ingredients, launched virtual aroma assistants, a digital tool offering a seamless experience to end-users. The move will expedite the growth of the fragrance ingredients market across the globe.

Fragrance Ingredients Market: Competitive Space

Key players in the global fragrance ingredients market include:

• Symrise AG
• Fleur De Fragrances
• Veera Fragrances Pvt Ltd.
• BASF SE
• Mane SA
• Givaudan SA
• BMV Fragrances Pvt. Ltd.
• Fermenich International SA
• Fine Fragrances Private Limited
• Vimal LifeSciences Pvt. Ltd
• Kalpsutra Chemicals Pvt Ltd
• A. B. Enterprises
• International Flavors
• Fragrances Inc.

The global fragrance ingredients market is segmented as follows:

By Type

• Natural Ingredients
• Synthetic Ingredients

By Application

• Hair Care
• Fabric Care
• Personal Care
• Others

By Source

• Flowers
• Vegetables
• Fruits
• Plant Extracts

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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