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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Natural Fragrance Market Analysis
The global natural fragrance market is being driven by the rapidly increasing income and an increased per capita spending on grooming. The changing consumer habits and the rising demand for fragrances from developing countries are aiding the market growth. The industry is offering various innovations in the products to cater to the consumers' demands for new and exciting fragrances. In the metropolitan cities of emerging economies, the grooming segment has significantly shown a huge demand for fragrances over the past two years, further invigorating the market for natural fragrances. The demand for fragrances from the detergent and cleaner industry in the emerging economies is further expected to drive the industry growth due to its constant demand from the toiletry and cleaner segment. The industry is also expected to be driven by the introduction of new and innovative products for niche and standard applications.
The demand for processed foods around the globe is increasing, further augmenting the market growth. The increasing population of health-conscious people across the world is driving the demand for natural fragrances owing to its positive health impacts. The multi-functional compounds are expected to increase in the forecast period as a consequence of the rising demand for health and wellness products. The industry has grown significantly due to its consumption in food and other industries, which are developing new encapsulation technologies. Encapsulation enables fragrances to be more constant and to be widely used in applications. The manufacturers of natural fragrances are seeking out raw materials that are new and innovative, such as flavours and fragrances extracted from yeast, for the application in the food industry.
The demand for menthol, particularly, is driven by the increasing demand for menthol cigarettes in emerging economies such as China, India, Indonesia, and other regions. The category of perfume is expected to increase the demand for synthetic menthol in the developing markets. The use of mint fragrances in the cosmetic industry is expected to further support the market growth for natural fragrances. A rising inclination towards the use of natural ingredients in medicines and related products is expected to drive the industry in the coming years.
Natural Fragrance Market Report Snapshots
Natural Fragrance Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global natural fragrance market attained a value of USD 3.58 billion in 2023.
The global natural fragrance market is projected to grow at a CAGR of 9.8% in the forecast period of 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 8.28 billion by 2032.
The major market drivers include the rising demand from the end use sectors, surging disposable incomes, and increased per capita grooming spending.
Increasing growth of the personal care industry and the rising demand for natural and organic goods are the key market trends.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Flowers, fruits, musk, wood, and spice, among others, are the various types of natural fragrance in the market.
The applications of natural fragrances in the market include soap and detergents, cosmetics and toiletries, fine fragrances, and household cleaners and air fresheners, among others.
The major players in the global natural fragrance market are Givaudan SA, Firmenich SA, International Flavors & Fragrances, Inc., Symrise AG, Wild Flavors, Inc., Takasago International Corp, and Mane SA, among others.
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