Fragrance Ingredients Market Research, Size, Share, Trend, Global Analysis and Forecast to 2023

Market Overview:

Fragrance is a complex mixture of natural or synthetic substances, which is added to products to give them a unique aroma. Fragrance Ingredients majorly consist of essential oils, such as citronella, eucalyptus, mint, and aromatic chemicals, such as benzenoids and terpenes, which are extracted from flowers, fruits, and herbs & shrubs. Fragrance ingredients are majorly used in spray perfumes, cosmetics, soaps & detergents, incense, body care, and home care products.

 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 trigger the demand of perfumes and fragrance end-products. Gifting culture which includes buying for others offers opportunities for market growth of fragrance ingredients.

The trend of retail therapy including effortless, relaxing and ultimately enjoyable shopping 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.

With changing lifestyle and evolving consumer preferences, strong performance of the retail sector, 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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Reasons to Buy:

This report provides detailed analysis and market size estimates and forecasts on Global Fragrance Ingredients Market. It includes in-depth market assessment for individual micro and macro markets for fragrance ingredients. In addition, it will provide the fragrance ingredients companies to improve profitability by using supply chain strategies, cost effectiveness of various products mentioned in the report. The report focuses on market concentration of fragrance ingredients and will be helpful in taking strategic decisions including mergers & acquisitions, collaborations and investments for the fragrance Ingredients and allied companies providing details on the fast-growing segments and regions.

Latest Industry Updates:

January 2017, Givaudan acquired Activ International, a provider of natural and organic flavors, marine extracts, seafood and vegetable based culinary solutions. The move will strengthen its global capabilities in natural flavour solutions.

November 2016, IFF entered into an agreement to acquire Fragrance Resources, privately-held, family-owned fragrance company. Fragrance Resources has facilities in Germany, North America, France, and China. The move will strengthen IFF’s market share.

May 2016, Givaudan acquired Spicetec Flavors & Seasonings from ConAgra for USD 340 million to strengthen its capabilities in integrated savoury solutions.

April 2016, Symrise aims to open sales offices and application-specific laboratories in Iran which will strengthen the Company’s presence in the Middle East.

Major Key Players:

The key players profiled in Global Fragrance Ingredients Market report include-

Some of the key players profiled in the global fragrance ingredients market:  Firmenich International SA (Switzerland), BASF SE (Germany), Givaudan SA (Switzerland), International Flavors & Fragrances Inc. (U.S.), Frutarom Industries Ltd. (Israel), Robertet Fragrances, Inc. (U.S.), and Mane SA (France).

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