DUBLIN, November 13, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/5l4bnj/fragrance) has announced the addition of the "Fragrance Ingredients Market by Type, by Application & by Geography - Global Trends & Forecasts to 2019" report to their offering.
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Fragrances are a complex blend of natural and/or synthetic substances that are added to products in order to give them a distinctive smell. Skilled and professional perfumers in the fragrance business draw from various palettes of essential oils and other fragrance ingredients, and combine them in various ways to produce exclusive scents that are imparted to a variety of products including fine fragrance, personal care, home care, and home design products.
Fragrances are gaining significance with the increase in demand for personal care and other consumer products.This can be attributed to the rise in per capita income resulting sufficient disposable income among consumers. Increasing health concerns has also affected the growth of the fragrance market. Consumers are becoming increasingly aware of the potential health risks such as skin problems, allergies, and its carcinogenicity; and hence, the consumption of fragrances with natural ingredients is increasing. This trend gained momentum after the regulation, REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) was legislated within the European Union.
The fragrance ingredients market is projected to grow at a CAGR of 5.6% between 2014 and 2019. The market was dominated by Europe in 2013, whichaccounted for around 30% of the total fragrance ingredients market. On the other hand, Latin America is projected to be the fastest-growing market for the period considered for this study, due to the rise in annual disposable income and the change in the consumers' preferences. As of 2010, Latin America registered the highest per capita consumption of fragrances. In terms of end applications, soaps &detergents are projected to be the largest market for fragrance ingredientsthroughout the study period. On the other hand, cosmetics & toiletries are projected to be the fastest-growing market for fragrance ingredients. This segment is projected to grow at a CAGR of 6.0% from 2014 to 2019.
The market for fragrance ingredients is characterized by intense competition due to the presence of a large number of both large- and small-scale firms. Expansions, acquisitions, and new product launchesare the key strategies adopted by market players to ensure their growth in the market. The market is dominated by players such as BASF SE (Germany), Givaudan SA (Switzerland), International Flavors & Fragrances Inc. (U.S.), Fermenich International SA (Switzerland), Frutarom Industries Ltd.(Israel), and Mane SA (Germany).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Fragrance Ingredients Market, By Geography
8 Fragrance Ingredients Market, By Type
9 Fragrance Ingredients Market, By Application
10 Competitive Landscape
11 Company Profiles
- BASF SE
- Firmenich International SA
- Frutarom Industries Ltd.
- Givaudan SA
- International Flavors & Fragrances Inc.
- Mane SA
- Robertet SA
- Symrise AG
- T. Hasegawa Co. Ltd. (Japan)
- Takasago International Corp.
For more information visit http://www.researchandmarkets.com/research/5l4bnj/fragrance
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SOURCE Research and Markets