The size of the global market for fragrance ingredients was estimated to be $15 billion in 2022, and it is projected to touch $25 billion by the end of 2030 with a CAGR of roughly 7.6% between 2023 and 2030.
Global Fragrance Ingredients Market: Synopsis
Any substance can have a unique scent bestowed onto it by the addition of a fragrance, which is a proprietary mixture of natural and synthetic 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 mix of different compounds that, when combined, provide a smell that corresponds to a fragrance. Fragrances contain components that are derived not just from natural sources but also from petroleum raw materials.
Fragrance Ingredients Market: Growth Factors
The increasing demand for cosmetic and beauty products is anticipated to be a driving force behind the expansion of the global market for fragrance ingredients over the next few years.
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.
Fragrance Ingredients Market: Segmentation
The market for fragrance ingredients around the globe may be broken down into four categories: application, source, kind, and location.
Natural components and synthetic ingredients make up the two different types of segments in the overall market for fragrance ingredients, which is segmented based on type. It would appear that the natural ingredients sector, which held the largest share of the worldwide market 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.
Fragrance Ingredients Market: Regional Insights
Fragrance Ingredients Market in the Europe To Account for a Major Market Share Over 2023-2030
The European fragrance ingredients market is projected to witness massive growth over the forecasting years. With the massive demand for fragrance in countries such as France, Germany, and Switzerland, the fragrance ingredients market in Europe is projected to expand by leaps and bounds in the years ahead.
Fragrance Ingredients Market: Competitive Space
The global fragrance ingredients industry profiles key players such as
Fleur De Fragrances
Veera Fragrances Pvt Ltd.
BMV Fragrances Pvt. Ltd.
Fermenich International SA
Fine Fragrances Private Limited
Vimal LifeSciences Pvt. Ltd
Kalpsutra Chemicals Pvt Ltd
A. B. Enterprises
The global fragrance ingredients market is segmented as follows:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Zion Market Research
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