GVR Report cover Fragrance Ingredients Market Size, Share & Trends Report

Fragrance Ingredients Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

  • Report ID: GVR1017
  • Number of Pages: 0
  • Format: Electronic (PDF)

The global fragrance ingredients market is diversified and fragmented in nature owing to the presence of numerous players. Increase in demand for natural fragrances and changing consumer preferences towards aromatic cosmetics and personal care products is expected to propel market growth. In addition, increasing demand for fragrances such as perfumes, mists, and deodorants, particularly from emerging economies of Asia Pacific and Latin America is expected to augment market growth over the forecast period. Expensive R&D programs and the increasing production cost due to quality compliances are the major restrains for the fragrance ingredients market. In addition, the variable cost parameter and ban on key raw ingredients is expected to increase due to stringent regulatory guidelines being adopted in most of the countries. 

The fragrance ingredient market is segmented on the basis of its applications such as soaps & detergents, cosmetics & toiletries, and fine fragrances. Moreover, it is also a key ingredient in household products such as candles, incense sticks, and pesticides. Soaps & detergents held the majority share in the fragrance ingredient market followed by cosmetics & toiletries. However, growing demand for air fresheners such as room fresheners, car air fresheners and aerosol sprays owing to the continuous product innovation in order to increase consumer base is expected to drive the cosmetics & toiletries market over the next few years. Growing importance of aromatherapy owing to improved living standards is another factor responsible for the growth of this segment in the next six years. 

As of 2013, the fragrance ingredients market was dominated by Europe followed by North America. Majority market share in Europe was held by France followed by Germany and Switzerland. Asia Pacific is expected to witness substantial growth owing to increasing number of manufacturing industries and the improving standard of living in the region. However, Latin America is expected to be the fastest growing market in the next six years owing to increasing demand for soaps, cosmetics, and toiletries on account of rising disposable income of consumers, particularly in Brazil, Argentina and Chile. China and Japan held the majority share in Asia Pacific whereas India is expected to be the fastest growing market over the forecast period. 

Market players in the fragrance ingredient market are distinguished depending on their core competencies. The key players include Givaudan SA, International Flavors & Fragrances Inc., Mane SA, Fermenich International SA, and BASF SE.

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