Fragrance Ingredients Market Upcoming Trends, Segmented by Type, Application, End-User and Region

Industry Overview of Fragrance Ingredients Market

IMARC Group, a leading market research company, has recently releases report titled “Fragrance Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global fragrance ingredients market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What are Fragrance Ingredients?

Fragrance refers to a unique and intricate combination of numerous synthetic and natural aromatic ingredients, which are blended and incorporated as a key component in different products to provide them pleasant scent. These substances are precisely extracted from flowers, fruits, shrubs, and herbs for the formulation of aromatic chemicals and several essential oils. After preparation, fragrance ingredients are added as a necessary element for manufacturing spray perfumes, cosmetics, soaps, detergents, incense, personal care, household items, etc. Presently, they are commercially available in essential oil and aromatic chemical product variants.

How big is the Fragrance Ingredients market?

The global fragrance ingredients market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.

What Are the Growth Prospects and Trends in The Fragrance Ingredients Industry?

The expanding cosmetic industry and the escalating demand for air fresheners and various personal care items, such as creams, shampoos, toiletries, mists, perfumes, etc., are primarily driving the fragrance ingredients market. Furthermore, the increasing awareness among consumers regarding the ill effects of using chemical-infused products has resulted in shifting preferences toward natural aromatic elements extracted from plants, animals, and fruits, which is also augmenting the market growth. Apart from this, the rising utilization of fragrances in aromatherapy applications, owing to therapeutic benefits, including reducing stress, enhancing sleep patterns, and uplifting mood, is positively influencing the global market. Moreover, the growing investments in research and development (R&D) activities by government bodies of numerous countries to promote the use of safer, eco-friendly, and dermatologically tested goods are further bolstering the market growth. Besides this, the frequent mergers and acquisitions (M&A) amongst key players has led to the introduction of several international aroma brands across the globe, which is acting as another significant growth-inducing factor. Additionally, continuous product innovations and the widespread adoption of smart marketing strategies are expected to drive the fragrance ingredients market in the coming years.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

• Natural Ingredients
• Synthetic Ingredients

Breakup by Source:

• Flower
• Fruits
• Vegetables
• Plant Extracts

Breakup by Application:

• Hair Care
• Personal Care
• Fabric Care
• Others

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

• BASF SE
• Fine Fragrance Pvt. Ltd
• Firmenich SA (Sentarom SA)
• Givaudan
• International Flavors & Fragrances Inc.
• Kalpsutra Chemicals Pvt. Ltd.
• Mane SA
• Robertet Group
• S H Kelkar & Co. Limited
• Symrise AG
• Hasegawa Co. Ltd.
• Takasago International Corporation and Treatt