The Europe fragrance ingredients market size is expected to reach USD 6.87 billion in 2024 and reach USD 8.92 billion by 2029, growing at a CAGR of 5.37% from 2024 to 2029.
Fragrances are an explicit blend of natural and synthetic ingredients as well. A single bottle of scent might contain as low as five to as high as a couple of hundreds of ingredients and aroma chemicals in a minute and calibrated amount. These ingredients are being used in products such as cosmetics, fine fragrances, soaps, detergents etc.
The fragrance ingredients market is expected of showing evident potential in the forecasting period. The market has continued to grow with the increase in demand for personal and other consumer products. The trend build momentum after the regulation, REACH was brought up in the European Union.
The industry has experienced a rise in the demand for natural fragrance ingredients lately, which resulted in gaining interest from many companies in the market. Other important drivers for the fragrance ingredients market are changing consumer preferences, increasing demand for cleaning products, significant advancement in technology. Besides, the market has faced some challenges and restraints as well, which include, expensive research and development and compliance with quality and regulatory standards. Concerns about Synthetic product is also one of key the factors holding down the market from reaching its actual potential.
Some of the major companies leading the Europe market share include BASF SE, Frutarom Industries Ltd., T. Hasegawa Co. Ltd., Givaudan SA, Firmenich International SA, International Flavors and Fragrances Inc., Robertet SA, Mane SA, Symrise AG, Takasago International Corp.
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