Fragrance Ingredients Market Size to Hit US$ 12.9 Billion at a CAGR of 5.8% by 2028

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 Fragrance Ingredients?

Fragrance is a complex and distinctive blend of various natural and synthetic aromatic elements meticulously crafted to impart a delightful scent to a variety of products. These components are carefully extracted from flowers, fruits, shrubs, and herbs, serving as the foundational building blocks for creating aromatic chemicals and a wide array of essential oils. Once formulated, these fragrance ingredients become essential components in the production of spray perfumes, cosmetics, soaps, detergents, incense, personal care products, household items, and more. Currently, fragrance options are commercially offered in the forms of essential oils and aromatic chemical products.

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

The fragrance ingredients market is experiencing robust growth, driven by several key factors and emerging trends. One of the primary drivers is the rapid expansion of the cosmetic industry and the surging demand for personal care products, including creams, shampoos, toiletries, mists, perfumes, and more. Additionally, consumers' increasing awareness of the potential adverse effects of chemical-laden products has led to a shift in preferences towards natural aromatic elements sourced from plants, animals, and fruits, further fueling market growth. Furthermore, fragrances are finding growing applications in aromatherapy, where their therapeutic benefits, such as stress reduction, improved sleep patterns, and mood enhancement, are highly valued. This has contributed positively to the global market. Moreover, governments in various countries are investing in research and development (R&D) initiatives to promote the use of safer, eco-friendly, and dermatologically tested products, boosting market growth. In addition, the frequent mergers and acquisitions (M&A) among key industry players have led to the introduction of numerous international aroma brands worldwide, serving as another significant growth factor. Continuous product innovations and the widespread adoption of smart marketing strategies are expected to further drive the fragrance ingredients market in the coming years.

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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
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o 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
• T.Hasegawa Co. Ltd.
• Takasago International Corporation and Treatt

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