Perfume and Essence market was valued at US$ 30190 million in 2022 and is anticipated to reach US$ 42080 million by 2029, witnessing a CAGR of 4.8% - valuates Reports

Perfume and Essence market was valued at US$ 30190 million in 2022 and is anticipated to reach US$ 42080 million by 2029, witnessing a CAGR of 4.8% during the forecast period 2023-2029.

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Perfume is an organic compound that can be sensed by smell or taste, also known as aroma raw material, which is mainly used to prepare essence for flavoring products, or directly used as food additives.
Essence is a mixture of spices and related accessories with a specific aroma or fragrance, generally used for flavoring products after consumption.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The global market share of perfume and essence in 2019 was 63.76% and 36.24%, respectively.
The global market has a high industry concentration and is shifting to developing countries. In recent years, the combined market share of Givaudan, Firmenich, IFF and Symrise has been maintained above 50%.
The perfume and essence market is mainly used in food and drinks, daily chemicals, tobaccos and other, with market shares of 50.36%, 42.89%, 2.17% and 4.58% respectively in 2019.

This report aims to provide a comprehensive presentation of the global market for Perfume and Essence, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Perfume and Essence.
The Perfume and Essence market size, estimations, and forecasts are provided in terms of sales volume (K MT) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Perfume and Essence market comprehensively. Regional market sizes, concerning products by type, by application and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

Segment by Type
Perfume
Essence

Segment by Application
Food & Drinks
Daily Chemicals
Tobaccos
Others

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