Fragrance Ingredients Market

Fragrance Ingredients Market Size & Growth:

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.

FRAGRANCE INGREDIENTS MARKET REPORT COVERAGE:

Fragrance Ingredients Market Segmentation:

Fragrance Ingredients Market By Type:

• Essenstian Oil

• Arora Chemicals

• Growth Analysis

• Market Attractiveness Analysis

• Market Share Analysis

Fragrance Ingredients Market By Application:

• Cosmetics & Toiletries
• Fine Fragraneces
• Soap & Detergants
• Growth Analysis
• Market Attractiveness Analysis
• Market Share Analysis

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.

Fragrance Ingredients Market – By Regions:

• North America 
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

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.