The global fragrance ingredients market size was evaluated at $15 Billion in 2022 and is slated to hit $25 Billion by the end of 2030 with a CAGR of nearly 7.6% between 2023 and 2030.
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➤ The global fragrance ingredients market is expected to experience significant development in the forecasting years due to the increasing popularity of cosmetic and beauty products among consumers.
Global market trends are expected to be stimulated by the increasing demand for natural fragrances and the increasing preference of end users for personal care and skin care products. The global fragrance ingredients market is being driven by an expanding consumer base, consistent product innovation, and increasing sales of air fresheners. The global fragrance ingredients market will experience growth as a result of the increased awareness of aromatherapy that has resulted from improved living standards. The size of the fragrance ingredients market will be enhanced by the widespread use of fragrance ingredients in domestic items, such as candles and scented sticks.
➤ The global industry may be hindered by increasing production costs and epidermis issues.
The expansion of the global fragrance ingredients industry may be impeded by high production costs and an increase in health issues, including allergies and skin complaints.
➤ The global industry’s expansion is significantly impeded by the fluctuation of raw material costs.
The development of the global fragrance ingredients industry will be significantly impeded by the volatility in the cost of raw materials. Additionally, the global industry’s surge may be significantly impeded by the brief shelf life of fragrance ingredients and the potentially harmful effects of synthetic fragrance ingredients on an individual’s health.
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The Global Fragrance Ingredients Market is segmented based on product, application and region
Global Fragrance Ingredients Market: Product Segment Analysis
● Natural Ingredients
● Synthetic Ingredients
Global Fragrance Ingredients Market: Application Segment Analysis
● Hair Care
● Fabric Care
● Personal Care
● Others
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The global Fragrance Ingredients market profiles key players such as:
● Symrise AG
● Fleur De Fragrances
● Veera Fragrances Pvt Ltd.
● BASF SE
● Mane SA
● Givaudan SA
● BMV Fragrances Pvt. Ltd.
● Fermenich International SA
● Fine Fragrances Private Limited
● Vimal LifeSciences Pvt. Ltd
● Kalpsutra Chemicals Pvt Ltd
● A. B. Enterprises
● International Flavors
● Fragrances Inc
???? Recent Developments
• Firmenich Group, a prominent actor in the fragrance ingredients industry, acquired Les Dérives Résiniques Et Terpéniques SA, a significant chemical manufacturing company, in the second quarter of 2020. The action will serve to fortify Firmenich’s position in the renewable ingredients market. The fragrance ingredients industry will also experience a global expansion as a result of the initiative.
• Koffee Up, a premium coffee oil manufactured through cycling techniques, was introduced by Givaudan SA, a prominent Swiss producer of fragrances and cosmetic ingredients, in the first half of 2020. The expansion of the fragrance ingredients market globally will be facilitated by this action.
➤ The European fragrance ingredients market is expected to dominate the market from 2023 to 2030.
Throughout the forecasting years, the European fragrance ingredients market is anticipated to experience robust growth. The fragrance ingredients market in Europe is expected to experience significant growth in the years ahead due to the enormous demand for fragrance in countries such as France, Germany, and Switzerland.
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