Natural Fragrance Global Market Report 2024 - By Demand, Size, Share, Trends, Outlook By 2033

The natural fragrance market size has grown rapidly in recent years. It will grow from $3.36 billion in 2023 to $3.71 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to consumer preference for natural products, shift towards clean and green beauty, rising demand for cosmetics and personal care products, increased per capita grooming spending, strong demand for natural and organic products.

The natural fragrance market size is expected to see strong growth in the next few years. It will grow to $5.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increased investment in research and development, digital transformation in marketing, rising interest in aromatherapy, expansion of niche and artisanal brands, focus on transparency and traceability. Major trends in the forecast period include innovations in extraction techniques, expansion of home fragrance and wellness products, blockchain for traceability and transparency, collaborations and partnerships, biodegradable and eco-friendly packaging.

Market Overview -
Natural fragrance refers to complex formulations that contain aromatic raw materials derived only from nature, such as trees, fruits, animal extracts, herbs, leaves, seeds, roots, and diverse woods. These fragrances are used to impart pleasing scents to various products, including perfumes, colognes, cosmetics, personal care items, and household products.

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Rising Demand For Cosmetics And Personal Care Products Driving Growth In The Natural Fragrance Market
The rising demand for cosmetics and personal care products is driving the growth of the natural fragrance market. Cosmetics and personal care products encompass a wide range of consumer goods aimed at personal grooming, hygiene, and appearance enhancement. Natural fragrances are commonly used in personal care and cosmetics due to their pleasant scents, potential benefits to the skin, additional natural marketing image, versatility, and consumer demand. For instance, in May 2023, according to the report published by The Cosmetic, Toiletry, and Perfumery Association, a UK-based organization, the sales of color cosmetics reached 118,172,000 units in 2022, compared to 112,257,000 units in 2021. Therefore, rising demand for cosmetics and personal care products will propel the growth of the natural fragrance market going forward.

Competitive Landscape -
Major companies operating in the natural fragrance market report are International Flavors & Fragrances Inc., Givaudan SA, Firmenich SA, Symrise AG, Sensient Technologies Corporation, Robertet SA, T. Hasegawa Co., Ltd, Mane SA, CPL Aromas, Aroma-Zone, Fragrance Oils (International) Limited, Bell Flavors & Fragrances, Alpha Aromatics, Agilex Fragrances, Burt's Bees, Citrus and Allied Essences Ltd., Primavera, Lebermuth Inc., Ungerer and Company, Royal Aroma, Aromatics International, Ogawa And Co. Ltd., Fine Fragrances Pvt. Ltd., Dauper SA, MJ Biopharm Pvt. Ltd

Innovative Formulations Redefining The Natural Fragrance Landscape
Major companies operating in the natural fragrances market are developing innovative products like plant-based fragrance oils to strengthen their position in the market. Plant-based fragrance oils in natural fragrances help to create high-quality, sustainable, and innovative fragrance products that appeal to consumers seeking natural and eco-friendly options. For instance, in October 2023, Natural Sourcing LLC, a US-based fragrance and perfumery manufacturer, launched a line of plant-based fragrance oils derived from natural botanical sources, including essential oils and extracts. These oils are derived from natural, raw botanical sources such as essential oils, absolutes, extracts, and aromatic isolates. They are well-suited for use in clean beauty, personal care, soap making, and home framing applications where cost-effective fragrance is required without the use of synthetic additives.

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Key Segments -
The natural fragrance market covered in this report is segmented -
1) By Type : Essential Oils, Natural Extracts
2) By Source: Flower-Based, Fruit-Based, Spices, Wood, Other Sources
3) By Distribution Channel: Conventional Retail, Online Sales, Business-To-Business (B2B), Business-To-Business(B2B) Third Party (TP)
4) By Application: Fine Fragrances, Personal Care And Cosmetics, Household Care, Soap And Detergents, Other Fragrances

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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