Perfume Ingredient Chemicals Market is projected to reach a value of US$ 8,967.3 Mn by 2027 end, increasing at a CAGR of 5.5% during the forecast period 2017-2027

Global revenue from the sales of perfume ingredient chemicals was valued at US$ 5,254.1 Mn in 2017 and is projected to reach a market value of US$ 8,967.3 Mn by 2027 end, increasing at a CAGR of 5.5% during the forecast period i.e. between 2017 and 2027. According to a new publication by Future Market Insights titled “Perfume Ingredient Chemicals Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027),” most of the companies manufacturing perfume ingredient chemicals focus on manufacturing fragrances and materials with synthetic chemicals. The expert analysts of Future Market Insights have observed that the personal care and cosmetics industry will witness major opportunities for growth and is all set to help market players increase their market share and business revenue.

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Global Perfume Ingredient Chemicals Market: Restraints
• High cost of raw materials and lack of low tier manufacturing
• Low awareness of greener products and low production growth
• High cost of extracting raw ingredients and expensive research & development programmes
• Raw material price fluctuations and high cost of petroleum based fuels
• Growing concerns regarding the harmful effects of using aggressive ingredients

Global Perfume Ingredient Chemicals Market: Forecast by Application

On the basis of application, the global perfume ingredient chemicals market is segmented into fine fragrance, home care, laundry care, personal care, cosmetics, and others. The fine fragrance segment accounted for a significant market value share of 22.3% in 2017, followed by the personal care segment. The personal care segment is expected to remain dominant till 2027. This segment is also expected to remain the most lucrative during the forecast period.

Global Perfume Ingredient Chemicals Market: Forecast by Product Type

Product type segmentation comprises synthetic aroma chemicals and essential oils. Synthetic aroma chemicals segment is further segmented into alcohols, esters, ethers, and others. Essential oils segment is sub-segmented into orange, citronella, peppermint, eucalyptus and others. Synthetic aroma chemicals segment is anticipated to witness the highest value CAGR of 5.7% in the global perfume ingredient chemicals market. Cost factor is expected to move market players to adopt synthetic products; further, a global trend towards green products is expected to create lucrative opportunities for manufacturers of essential oils owing to a growing consumer preference for herbal products.

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Global Perfume Ingredient Chemicals Market: Forecast by Region

Asia Pacific is estimated to be the most lucrative regional market in terms of revenue generation in the global perfume ingredient chemicals market, valued at US$ 1,198.0 Mn in 2017 and is expected to expand at a CAGR of 6.2% over the forecast period. Within the Asia Pacific, China & India are expected to remain in a dominant position for perfume ingredient chemicals demand. In terms of growth, following the Asia Pacific are several European countries such as Italy, France, and U.K. A noteworthy increase in sales in other developing markets such as Brazil, Russia, Turkey, GCC countries and South Africa is anticipated over the forecast period.

Global Perfume Ingredient Chemicals Market: Key Players

Sensient Technologies Corporation, BASF SE, Eternis Fine Chemicals, YingYang (China) Aroma Chemical Group, KDAC CHEM Pvt. Ltd., Frutarom Harmony Organics Pvt. Ltd., Atul Ltd, GODAVARI BIOREFINERIES LTD, Givuadan Firmenich, International Flavors and Fragrances Inc., Symrise, Takasago International Corporation, MANA SE, Robertet SA, T. Hasegawa USA, Huabao International Holdings Limited, Zhejiang, Xinhua Chemical Co., Ltd, Henkel AG & Co KGaA ADR, and Charkit Chemical Company LLC are some of the leading companies operating in the global market that have been profiled in this report.

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With more than 50% revenue share, synthetic aroma chemicals expected to dominate the global market for perfume ingredient chemicals

In terms of value, the synthetic aroma chemicals product type segment is expected to gain 110 BPS in 2027 as compared to 2017 and is expected to expand at a CAGR of 5.7 % during the forecast period. Perfume ingredient chemicals are complex combinations of synthetic and/or natural substances that are added to products to give them a distinctive scent.

A shift towards synthetic aroma ingredients and chemicals is being observed owing to their cost efficiency and ease of extraction. Synthetic aroma chemicals is projected to be the most attractive product type during the forecast period with a market attractiveness index of 5.0.

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