Global Fragrance Ingredients Market – Overview

Owing to never-ending quest of new fragrances, there has been growing demand of niche fragrances in the market. The power of social media influencers and celebrity endorsements primarily have triggered the demand of perfumes and fragrance end-products. Gifting culture has also provided an impetus to the growth of Fragrance Ingredient Market on a global platform.

Changing lifestyle and evolving consumer preferences coupled with strong performance of the retail sector is projected to propel high CAGR of the fragrance ingredients market during the stated forecast period. Additionally, the trend of product traceability and concerns over product safety have significantly resulted in growing demand of fragrance ingredients. With strong economic growth, emergence of a large and prosperous middle class population, increasing consumers’ cautiousness to spend along with high rates of migration from rural to urban areas has led to the influx of international retailers to the developing regions. Rising urbanization coupled with cheap labor force, high ranking in ease of doing business index, government incentives & policy support and rising disposable income has attracted international retailers to enter and expand in Asia Pacific and Latin American region and gain strong foothold in the market.

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The trend of retail therapy including effortless, relaxing and one stop shopping experience is one of the major drivers boosting the sales of fragrance products. Most of the industrial players are entering in the supply-chain agreement with e-commerce players to boost their businesses as the e-commerce companies handle product sales through non-store channel and the industrial players choosing e-commerce channel of distribution save little cost on marketing. Investments by industrial players in strategic collaboration and strengthening the supply chain ensures a dependable stream of quality ingredients.

Key Findings

Fragrance ingredients have a massive opportunity in consumer goods industries owing to their wide range of applications
Global fragrance manufacturers find huge opportunities in China, owing to the huge demand for fragrance products, especially cosmetics and toiletries

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).

Global Fragrance Ingredients Market – Segments

The global fragrance ingredients market has been divided into type, source, application, and region.

On The Basis Of Source: Natural, and Synthetic

On The Basis Of Type: Essential Oils, Aroma Chemicals

On The Basis Of Application: Soaps & Detergents, Cosmetics & toiletries, Fine Fragrances, Others

On The Basis Of Region: North America, Europe, Asia Pacific and ROW.

Regional Analysis

The Global Fragrance Ingredients Market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe is dominating the global fragrance ingredients market followed by North America. France has been accounted for higher consumption of fragrance ingredients followed by Germany and Switzerland. This is attributed to the high usage of spray perfumes, cosmetics, soaps & detergents, incense, body care, and home care products in this region.

Furthermore, increasing consumer awareness regarding personal hygiene and rising demand for fragrance ingredients in cosmetics and fragrance industry has uplifted the demand for fragrance ingredients in North American countries, such as the U.S., and Canada. This is likely to boost the growth of the fragrance ingredients market during the review period. Additionally, shifting interest to adopt natural fragrance ingredients in cosmetic and consumer goods is likely to uplift the growth of the fragrance ingredients market.