Fragrance Ingredients Market Opportunity, Challenges, Future Demands and Forecast by 2027: Covid-19 Impact and Recovery

Rise in utilization of personal care products, increase in demand for natural, eco-friendly, and custom-made fragrances, and support for R&D activities by governments propel the growth of the global fragrance ingredients market. However, high manufacturing costs and harmful side effects such as skin allergies and problems arising from chemical ingredients in perfumes hinder the market growth. On the other hand, innovations in products and creative advertisements across various social media platforms to entice people into buying products present new opportunities in the next few years.

According to the report published by Allied Market Research, the global fragrance ingredients market garnered $13.6 billion in 2019, and is estimated to garner $16.1 billion by 2027, growing at a CAGR of 3.8% from 2020 to 2027. The report provides a detailed analysis of driving factors & opportunities, top winning strategies, key segments, and new product launches by leading market players.

Download Free PDF Brochure: https://www.alliedmarketresearch.com/request-sample/7164

Covid-19 Scenario:
• The manufacturing and distribution activities of beauty and personal care products have been halted due to lockdown in many countries. This led to reduction in demand for fragrance ingredients.
• Ban on export-import activities, travel restrictions, and disruptions in supply chain resulted in a huge supply-demand gap.
• As health authorities and governments encouraged people to utilize sanitizers, soaps, disinfectants, and other products for safety, the demand for fragrance ingredients in manufacturing of these products increased.

The report offers a detailed segmentation of the global fragrance ingredients market based on type, application, and region.

Based on type, the synthetic ingredients segment accounted for the highest market share in 2019, holding more than four-fifths of the global market, and is estimated to maintain its dominance throughout the forecast period. However, the natural ingredients segment is expected to register the fastest CAGR of 4.3% from 2020 to 2027.

Based on application, the personal care segment accounted for nearly three-fifths of the total market share in 2019, and is expected to maintain its lead position in terms of revenue during the forecast period. However, the hair care segment is projected to witness the highest CAGR of 4.1% from 2020 to 2027.

Based on region, Asia-Pacific contributed to the largest market share, accounting for more than one-third of the total market in 2019, and is expected to continue its dominant share by 2027. Moreover, this segment would portray the fastest CAGR of 4.7% from 2020 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.

Leading players of the global fragrance ingredients market analyzed in the report include Fermenich International SA, Givaudan SA, Fine Fragrances Private Limited, Kalpsutra chemicals Pvt. Ltd., International Flavors & Fragrances Inc., S H Kelkar and Company Limited, Mane SA, Takasago International Corporation, Symrise, and Treatt.

Interested in Procuring this Report? Visit Here: https://www.alliedmarketresearch.com/fragrance-ingredients-market/purchase-options

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

This release was published on openPR.