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Fragrance Market Product Category, Future Scope, Present and Future Trend by Forecast to 2023

Fragrance Market
Fragrance Market
Press Release

Global Fragrance Ingredients Market that visualizes breakneck growth in this market between 2017 and 2023. The factors that are driving this market include changing the lifestyle of consumers, increasing disposable income, and rapidly growing urbanization. Due to a rise in disposable income, more consumers are spending money on beauty products and personal care products and hence, sales of perfumery products are rising. The rise in the sales of perfumery products is creating demand for fragrance ingredients that are useful for the former’s production. The escalation of demand, supply, and revenue for global fragrance ingredients market is certain during the forecast period. Covering extensive primary research, this report features a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders that would help readers to gain deeper insights into the market and industry performance. The report analyzes current market scenario that includes the historic and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. Lastly, the report profiles the key players in the industry, observing their strategies.

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It said, and quite often believed, especially in the business world that the fragrance of an individual says a lot about him/her. Even though the fragrance is just a mixture of natural or synthetic substances added to products to give them a unique aroma, people often try to observe the characteristics of plants or flowers in the nature of person using the fragrance. Therefore, consumers often demand specific perfumes or soaps or body lotions because of which makers of these products demand more specific fragrance ingredients. Hence, the market for fragrance ingredients is witnessing breakneck growth.

Segmentation:

The global fragrance ingredients market has been segmented into applications, functional groups, source, types and lastly region. Application-based segmentation of this market comprises of fine fragrances products, household care products, and personal care products. Fine fragrances are perfumes. Examples of household care products include bathroom cleaners, bleaches, metal cleaner, etc. Examples of personal care products include soaps, cosmetics, moisturizers, cologne, deodorants, etc. During the forecast period, application of fragrance ingredients in personal care products is estimated to retain its dominance over other segments. This is due to growing consumer awareness towards personal hygiene. The report estimates elevated growth in the use of fragrance ingredients in fine fragrance products in this segment.

Key Players

The key players in the global fragrance ingredients market include BASF SE (Germany), Firmenich International SA (Switzerland), Frutarom Industries Ltd. (Israel), Givaudan SA (Switzerland), International Flavors & Fragrances Inc. (USA), Robertet Fragrances, Inc. (USA), and Mane SA (France).

Latest Industry News

  • US multinational Johnson & Johnson have announced their plans to disclose 100% of the ingredients in its baby care products next month. This transparency effort is going to be rolled out as part of a relaunch of its baby care range. 5 JUL 2018

Regional Analysis:

On the basis of regional segmentation, the global fragrance ingredients market has been segmented into regions namely North America, Europe, Asia Pacific, and the rest of the world (RoW). Europe is holds the largest share in global fragrance ingredients market, followed by North America. The highest consumption fragrance ingredients in Europe market happens in France, followed by Germany and Switzerland. Other important markets in Europe include Italy, Spain and the United Kingdom (UK). Remaining countries of Europe also make a significant contribution to the market, making Europe the largest regional market.

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In Europe, the market is strong because people in this region heavily use body care products, cosmetics, home care products, incense, soaps & detergents, and spray perfumes. Due to increasing consumer awareness regarding personal hygiene and rising demand for fragrance ingredients in cosmetics and fragrance industry, fragrance ingredients market is rapidly growing in North America and is expected to get a boost during the forecast period. The biggest markets for fragrance ingredients in this region are the United States of America (USA), Canada and Mexico. In the Asia Pacific, the market despite being nothing like North America and Europe is huge due to the high density of population. In this region, the maximum revenue comes from Australia, China, India, Japan and rest of Asia Pacific. The biggest markets for fragrance ingredients among RoW countries include Argentina, Brazil, and South Africa.