Fragrance Ingredients Market to Garner $16.1 Billion, Globally, By 2027 at 3.8% CAGR, Says Allied Market Research

- Increase in usage of personal care products and supportive R&D initiatives by governments drive the growth of the global fragrance ingredients market

PORTLAND, Ore., Sept. 8, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Fragrance Ingredients Market by Type (Natural Ingredients and Synthetic Ingredients) and Application (Hair care, Personal Care, Fabric care, and Others): Global Opportunity Analysis and Industry Forecast 2020–2027." According to the report, the global fragrance ingredients industry generated $13.6 billion in 2019, and is expected to generate $16.1 billion by 2027, witnessing a CAGR of 3.8% from 2020 to 2027.

Prime determinants of growth

Increase in usage of personal care products, rise in consumption of eco-friendly, natural, and custom-made fragrances, and supportive R&D initiatives by governments drive the growth of the global fragrance ingredients market. However, rise in manufacturing costs and harmful side effects of chemical ingredients in perfumes such as skin problems and allergies restrain the market growth. Contrarily, ongoing product innovations and rise in product advertisements across various social media platforms create new opportunities in the coming years.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/7164

Covid-19 Scenario

• The lockdown in several countries resulted in halt in operational, manufacturing, and distribution activities of personal care and beauty products across the world. This resulted in decline in demand for fragrance ingredients.
• Travel restrictions, ban on slow export-import activities, and disrupted supply chain created a huge supply-demand gap in some sectors such as retailers and salons & spas.
• However, the demand for manufacturing sanitizers, soaps, disinfectants, and other products has been increased significantly with the rise in demand for these products during the Covid-19 pandemic.

The natural ingredients segment to register the fastest growth rate

Based on type, the natural ingredients segment is expected to grow at the highest CAGR of 4.3% from 2020 to 2027, owing to preference of consumers toward therapeutic benefits of essential oils in aromatherapy and increase in spending on beauty and personal care products. However, the synthetic ingredients segment contributed to the largest market share in 2019, accounting for more than four-fifths of the global fragrance ingredients market, and is projected to maintain its lead position during the forecast period. This is due to synthetic fragrances being richer and more intense and versatile in composition as compared to natural aromas.

Get Detailed COVID-19 Impact Analysis on the Fragrance Ingredients Market @ https://www.alliedmarketresearch.com/request-for-customization/7164?reqfor=covid

The personal care segment to continue its dominant share in terms of revenue by 2027

Based on application, the personal care segment held nearly three-fifths of the global fragrance ingredients market in 2019, and is expected to continue its dominant share in terms of revenue during the forecast period. This is due to rise in brand-conscious consumers and extravagant spending on luxury goods such as perfumes. However, the hair care segment is estimated to register the fastest CAGR of 4.1% from 2020 to 2027, owing to increase in incorporation of fragrance ingredients in hair care products to advance product quality.

Asia-Pacific, followed by North America, to maintain its highest share by 2027

Based on region, Asia-Pacific, followed by North America, contributed to the highest market share with more than one-third of the global fragrance ingredients market in 2019, and is expected to maintain its highest share by 2027. Moreover, this segment is expected to register the fastest CAGR of 4.7% from 2020 to 2027. This is due to increase in urbanization along with huge presence of personal care, hair care, and fabric care sectors.

Leading Market Players

• Fermenich International SA
• Fine Fragrances Private Limited
• Givaudan SA
• International Flavors & Fragrances Inc.
• Kalpsutra chemicals Pvt. Ltd.
• Mane SA
• S H Kelkar and Company Limited
• Symrise
• Takasago International Corporation
• Treatt

Interested in Procuring this Report? Visit Here:
https://www.alliedmarketresearch.com/fragrance-ingredients-market/purchase-options

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:              

Personal Care Ingredients Market: Global Opportunity Analysis and Industry Forecast 2020–2027
Surfactants Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Silicone Oil Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
Salicylic Acid Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg