Worldwide Fragrance Ingredients Market is Expected to Surpass $25 Billion by 2030, Growing at 7.6% of CAGR | Global Markets Study on Natural Perfumes and Fragrances

Cleveland, OH, March 20, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report 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” in its research database.

“According to the latest research study, the demand of global Fragrance Ingredients Market size & share in terms of revenue was valued at USD 15 Billion in 2022 and it is expected to surpass around USD 25 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.6% during the forecast period 2023 to 2030.”

What are Fragrance Ingredients? How big is the Fragrance Ingredients Industry?

Fragrance Ingredients Report Coverage & Overview:

Any substance can have a unique scent bestowed onto it by the addition of a fragrance, which is a proprietary combination of natural and man-made components. In addition, they are utilized in the production of perfumes in addition to a variety of other consumer goods, including but not limited to personal care products, household cleaning chemicals, soaps, detergents, sanitizers, cosmetics, disinfectants, and other similar items. According to some accounts, the components of fragrances consist of a mixture of different compounds that, when combined, produce a scent that is comparable to an odour. Fragrances contain components that are derived not just from natural sources but also from petroleum raw materials.

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Global Fragrance Ingredients Market: Growth Dynamics

Over the next few years, rising consumer demand for cosmetic and beauty items will boost the worldwide fragrance ingredients industry.

The rising demand for natural fragrances and the increasing desire among end users for personal care and skin care products are helping to drive worldwide market trends. The rise of the market for fragrance ingredients around the world is being driven by factors such as an increasing consumer base, consistent product innovation, and rising sales of air fresheners. The rise of the global market for fragrance ingredients will be bolstered by the growing awareness of aromatherapy that has resulted from improvements in living standards. The size of the market for fragrance ingredients is expected to increase as a result of the widespread usage of fragrance compounds in home items such as candles and scented sticks.

The global market for fragrance ingredients is expected to have growth that is both profitable and beneficial as a result of globalization, rapid urbanization, and rising per capita income. In the years to come, the expansion of the fragrance ingredients market on a worldwide scale will be facilitated by the deployment of significant funds to research activities connected to the manufacturing of fragrance components.

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Report Scope

Fragrance Ingredients Market: Segmentation Analysis

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

In terms of type, The market for aroma ingredients or you can say fragrance Ingredients on a global scale can be broken down into two categories: natural components and synthetic ingredients. It would appear that the natural ingredients sector, which held the largest share of the worldwide market share in 2022, is destined to maintain its overall dominance of the market over the course of the projection period. The quickly shifting preferences and shopping habits of consumers are to blame for the spike in activity within each market category. The growth of the global market for fragrance ingredients will also be driven by an expansion in the therapeutic use of essential oils and an increase in consumer spending on personal care and beauty goods.

The market, by source, is divided into flowers, vegetables, fruits, and plant extracts.

Based on the application, The global market for fragrance ingredients can be broken down into the categories of hair care, personal care, fabric care, and other categories. In addition, the personal care segment, which held the highest share of the worldwide industry in 2022, is expected to maintain its preeminent position in the overall industry growth even in the near future. The large use of scent components in the personal care segment may be to blame for the rise of the segment over the period of time covered by the analysis.

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

Browse the full “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

Competitive Landscape

Some of the main competitors dominating 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
• B. Enterprises
• International Flavors
• Fragrances Inc

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Fragrance Ingredients market is likely to expand at a CAGR of around 7.6% during the forecast period (2023-2030).                  
• In terms of revenue, the Fragrance Ingredients market size was valued at around US$ 15 Billion in 2022 and is projected to reach US$ 25 billion by 2030.
• The global market is anticipated to record massive growth over the forecast period with escalating demand for natural fragrances and growing end-user preference for personal care & skin care products.
• Based on type, the personal care segment to contribute the highest share of the global market over the forecast period
• In terms of application, the natural ingredients segment is predicted to account for a major share of the global market during the predicted timespan.
• Region-wise, the Asia-Pacific fragrance ingredients market is projected to register the fastest CAGR over the assessment timeline.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Fragrance Ingredients industry?
• What are the main driving factors propelling the Fragrance Ingredients Market forward?
• What are the leading companies in the Fragrance Ingredients Industry?
• What segments does the Fragrance Ingredients Market cover?
• How can I receive a free copy of the Fragrance Ingredients Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Application, By Source, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

Fragrance Ingredients Market in the Europe To Account for a Major Market Share Over 2023-2030

During the period of the forthcoming years, it is anticipated that the market for fragrance ingredients in Europe would experience enormous expansion. The market for fragrance ingredients in Europe is anticipated to experience a meteoric rise in growth over the next few years as a direct result of the enormous demand for scent in nations such as France, Germany, and Switzerland.

Throughout the period covered by this analysis, the market for fragrance ingredients in Asia-Pacific is anticipated to record the greatest CAGR. There is a possibility that the rising demand for fragrance ingredients in countries such as China and India will be the driving force behind the expansion of the regional market in the years to come. Aside from this, thriving sectors in skin care, personal care, and cosmetics will provide additional support for product penetration throughout the sub-continent over the course of the next decade.

By Region

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

Recent Developments

In the second quarter of 2020, Firmenich Group, a key player in the fragrance ingredients industry, acquired Les Dérives Résiniques Et Terpéniques SA, a key chemical manufacturing firm. The move will help in reinforcing the position of Firmenich in the renewable ingredients market. The initiative will also boost the expansion of the fragrance ingredients industry across the globe.

In the first half of 2020, Givaudan SA, a key fragrance & cosmetic ingredients producer based in Switzerland, launched Koffee Up, a premium coffee oil produced using cycling methods. The move will expand the scope of the growth of the fragrance ingredients market across the globe.

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FREQUENTLY ASKED QUESTIONS

• What is fragrance ingredients?
• Which key factors will influence global fragrance ingredients market growth over 2023-2030?
• What will be the value of the global fragrance ingredients market during 2023-2030?
• What will be the CAGR value of the global fragrance ingredients market during 2023-2030?
• Which region will record the highest growth in the fragrance ingredients industry globally?
• Which are the major players leveraging the global fragrance ingredients market growth?

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