Fragrance Ingredients Market was worth USD 14.57 billion in 2021 and estimated to be growing at a CAGR of 5.6%, to reach USD 19.13 billion by 2026.
Fragrance Ingredients market is showing immense potential in the mentioned forecast period. The market continues to grow with the increase in demand for personal as well as other consumer products. The trend gained momentum after the regulation, REACH was legislated in the European Union. Fragrances are an explicit mixture of natural as well as synthetic ingredients. A single perfume might contain as low as dozen to as high as hundreds of ingredients or aroma chemicals in a minute but calibrated amounts. These ingredients are used in products such as fine fragrances, cosmetics, soaps, detergents, etc.
Drivers and Restraints of Fragrance Ingredients Market:
The Industry has been experiencing a rise in the demand for natural fragrance ingredients lately, thus gaining interest from various companies in the market. Other major factors drivers for the fragrance ingredients market include increasing demand for cleaning products, changing consumer preferences, significant advancement in technology. On the other hand, the market faces some restraints and challenges as well, which include compliance with quality and regulatory standards, expensive research and development. Concerns related to Synthetic product has also been one of the factors holding down the market from climbing to its actual potential.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2020 – 2026 |
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Base Year |
2020 |
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Forecast Period |
2022 - 2027 |
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CAGR |
5.6% |
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Segments Covered |
By Type, Application and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
BASF SE, Firmenich International SA, Frutarom Industries Ltd., Givaudan SA, International Flavors and Fragrances Inc., Mane SA, Robertet SA, Symrise AG, T. Hasegawa Co. Ltd., Takasago International Corp and Others. |
Fragrance Ingredients Market Segmentation:
Based on type the market is segmented into essentials oils and aroma chemicals, which are further fragmented into Orange, Mentha Arvensis, Eucalyptus, Cedar wood, Citronella and Terpenes, benzenoids, Musk Chemicals respectively. Based on Application the segmentation is done under Cosmetics & toiletries, Fine Fragrances, Soaps & Detergents. The essential oils account for the largest market share under segmentation by type and have a market share of almost twice as that of aroma chemicals. Based on application the market is led by soaps and detergents, while on the other hand cosmetics and toiletries are expected to show the highest growth rate in the coming years.
The Fragrance Ingredients market was dominated by Europe, with the overall market share of over 30% globally. Europe was followed by North America and Asia-Pacific. Latin America is predicted to grow at a rapid pace in the coming few years, due to the rise in annual disposable income and change in consumer preference.
Key Players:
Some of the major companies leading the global market share include BASF SE, Firmenich International SA, Frutarom Industries Ltd., Givaudan SA, International Flavors and Fragrances Inc., Mane SA, Robertet SA, Symrise AG, T. Hasegawa Co. Ltd., Takasago International Corp.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Essential Oils
5.1.2.1 Orange
5.1.2.2 Mentha Arvensis
5.1.2.3 Eucalyptus
5.1.2.4 Cedarwood
5.1.2.5 Citronella
5.1.3 Arora Chemicals
5.1.3.1 Terpenes
5.1.3.2 Benzenoids
5.1.3.3 Musk Chemicals
5.1.4 Others
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2 Application
5.2.1 Introduction
5.2.2 Cosmetics & toiletries
5.2.2 Fine Fragrances
5.2.4 Soap & Detergants
5.2.5 Other Applications
5.2.6 Y-o-Y Growth Analysis, By Application
5.2.7 Market Attractiveness Analysis, By Application
5.2.8 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Application
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 BASF SE
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Firmenich International SA
8.3 Frutarom Industries Ltd
8.4 Givuadan SA
8.5 International Flavors & Fragrances Inc
8.6 Mane SA
8.7 Robertet SA
8.8 Symrise AG
8.9 T. Hasegawa Co. Ltd. (Japan)
8.10 Takasago International Corp
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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