Global Fragrances Market Growth Opportunities

Global Fragrances Market Growth Opportunities

Innovations in Delivery Technologies and Strong Consumer Inclination Toward Natural Fragrances are Boosting the Growth of the Fragrances Market

RELEASE DATE
22-Oct-2021
REGION
Global
Research Code: K672-01-00-00-00
SKU: FN00049-GL-MT_25798
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Description

Fragrances are complex blends of natural and/or synthetic ingredients that give a distinctive scent when added to any consumer products. Many cosmetics and home-care brands list “fragrance” on the product label, but very few name the specific ingredients (whether natural or synthetic) that make up a fragrance. The factors driving the global fragrances market are changing lifestyles, growth of the upper middle class in emerging economies, expansion of social networks, natural fragrances gaining momentum, rise in online beauty spending, and increase in the number of senior citizens.

By product type, synthetic fragrances dominated the fragrances market in 2020. However, their growth is expected to be sluggish from 2020 to 2026 due to growing consumer inclination toward organic, herbal, or natural-fragrance based products. The natural fragrances segment is expected to grow at a higher growth rate from 2020 to 2026.

By application, the personal care and cosmetics segment dominated the fragrances market in 2020 due to the strong use of both natural and synthetic fragrances in the industry. Home care is another major segment of the fragrances market. The aromatherapy application segment is expected to register the fastest growth due to a fast-growing spa culture and changing consumer lifestyles globally.

Europe accounted for the largest market share in the global fragrances market due to a rich history of invention and evolution of fragrances in the region. The presence of several renowned fragrance-making companies, such as L'Oréal SA, Chanel, LVMH, Avon Products Inc., Nina Ricci, Guerlain, and Christian Dior, in the region is likely to support the expansion of the regional fragrances market during the forecast period. Moreover, Latin America and Asia-Pacific markets are expected to grow at a rapid pace due to a growing population, increasing per-capita income, and changing lifestyle in the region.

The impact of the COVID-19 pandemic on the market, which has been uneven, has been considered in this analysis. There has been an increase in the demand for personal-care products (such as sanitizer, soap, body wash) and other home cleaning chemicals (floor cleaners, surface disinfectants) due to an increase in awareness about health and hygiene. On the contrary, the demand for cosmetic products (skin care, hair care, lip care, make-up products, and fine fragrances) decreased in 2020 due to travel restrictions and stay-at-home orders.

Research Scope

The scope of this study includes essential oils and aroma chemicals—the chief raw materials used to manufacture fragrances. Aroma chemicals are further studied with respect to their source—natural aroma chemicals and synthetic aroma chemicals—and types—terpenes, benzenoids, and musk chemicals. This study primarily focuses on assessing the growth opportunities for the fragrances market with respect to natural fragrances and synthetic fragrances.

By application, the scope of the study includes personal care and cosmetics, aromatherapy, and home care.

The geographic scope of this study is global and includes the following regions: North America (NA), Europe, Asia-Pacific (APAC), and Rest of World (RoW). 


RESEARCH: INFOGRAPHIC

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Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on Fragrances Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Fragrances Market Scope of Analysis

Executive Summary, Fragrances Market

Market Segmentation

Composition of Natural and Synthetic Fragrances

Segmentation Description by Product Type and Raw Material

Segmentation Description by Application

Essential Oil by Sources

Key Essential Oils Used in Fragrances

Key Essential Oils Used in Fragrances (continued)

Aroma Chemicals Used in Fragrances

Aroma Chemicals Used in Fragrances (continued)

Key Competitors in the Fragrances Market

Forecast Assumptions, Fragrances Market

Forecast Assumptions, Fragrances Market (continued)

Value Chain, Fragrances Market

Market Evolution of Fragrances

Impact of COVID-19 on the Fragrances Market

COVID-19 Induced Researches in Fragrances Industry

Usage of Encapsulation Technologies for Controlled Delivery of Fragrances

Types of Encapsulation Technology

Market Trends, Fragrances Market

Market Trends, Fragrances Market (continued)

Market Trends, Fragrances Market (continued)

Market Trends, Fragrances Market (continued)

Market Trends, Fragrances Market (continued)

Market Trends, Fragrances Market (continued)

Market Trends, Fragrances Market (continued)

Market Trends, Fragrances Market (continued)

Market Trends, Fragrances Market (continued)

Market Trends, Fragrances Market (continued)

Product Trends, Essential Oil

Competitive Environment, Fragrances Market

Revenue Share, Fragrances Market

Competitive Product Matrix, Fragrances Market

Recent Activity of Key Participants—Givaudan

Recent Activity of Key Participants—International Flavors and Fragrances, Inc.

Recent Activity of Key Participants—Firmenich SA

Recent Activity of Key Participants—Symrise & MANE

Recent Activity of Key Raw Material Manufacturer—BASF SE

Recent Activity of Other Raw Material Manufacturers

Key Growth Metrics for Fragrances Market

Revenue Forecast, Fragrances Market

Revenue Forecast Analysis, Fragrances Market

Revenue Forecast Analysis, Fragrances Market (continued)

Revenue Forecast by Raw Materials, Fragrances Market

Revenue Forecast Analysis by Source, Aroma Chemicals

Revenue Forecast Analysis by Type, Aroma Chemicals

Revenue Forecast Analysis by Raw Materials, Fragrances Market

Revenue Forecast Analysis by Raw Material, Fragrances Market (continued)

Revenue Forecast by Product Type, Fragrances Market

Revenue Forecast by Application, Fragrances Market

Revenue Forecast by Region, Fragrances Market

Revenue Forecast Analysis by Product Type, Application, and Region, Fragrances Market

Key Growth Metrics for Natural Fragrances

Growth Drivers for Natural Fragrances

Growth Restraint for Natural Fragrances

Revenue Forecast, Natural Fragrances

Revenue Forecast Analysis, Natural Fragrances

Revenue Forecast by Application, Natural Fragrances

Revenue Forecast Analysis by Application, Natural Fragrances

Revenue Forecast Analysis by Application, Natural Fragrances (continued)

Revenue Forecast by Region, Natural Fragrances

Revenue Forecast Analysis by Region, Natural Fragrances

Revenue Forecast Analysis by Region, Natural Fragrances (continued)

Market Trends, Natural Fragrances

Market Trends, Natural Fragrances (continued)

Market Trends, Natural Fragrances (continued)

Key Growth Metrics for Synthetic Fragrances

Growth Drivers for Synthetic Fragrances

Growth Restraint for Synthetic Fragrances

Revenue Forecast, Synthetic Fragrances

Revenue Forecast Analysis, Synthetic Fragrances

Revenue Forecast by Application, Synthetic Fragrances

Revenue Forecast Analysis by Application, Synthetic Fragrances

Revenue Forecast Analysis by Application, Synthetic Fragrances (continued)

Revenue Forecast by Region, Synthetic Fragrances

Revenue Forecast Analysis by Region, Synthetic Fragrances

Revenue Forecast Analysis by Region, Synthetic Fragrances (continued)

Growth Opportunity 1—Increasing Focus Toward Natural Fragrances to Cater to the Growing Sustainability Trend

Growth Opportunity 1—Increasing Focus Toward Natural Fragrances to Cater to the Growing Sustainability Trend continued)

Growth Opportunity 2—Significant R&D Investment and Partnerships for Boosting the Development of Innovative Fragrances

Growth Opportunity 2—Significant R&D Investment and Partnerships for Boosting the Development of Innovative Fragrances (continued)

Growth Opportunity 3—Positive Marketing Campaigns to Educate Consumers on Synthetic Ingredients for Supporting the Synthetic Fragrances Market in Europe

Growth Opportunity 3—Positive Marketing Campaigns to Educate Consumers on Synthetic Ingredients for Supporting the Synthetic Fragrances Market in Europe (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Related Research
Fragrances are complex blends of natural and/or synthetic ingredients that give a distinctive scent when added to any consumer products. Many cosmetics and home-care brands list “fragrance” on the product label, but very few name the specific ingredients (whether natural or synthetic) that make up a fragrance. The factors driving the global fragrances market are changing lifestyles, growth of the upper middle class in emerging economies, expansion of social networks, natural fragrances gaining momentum, rise in online beauty spending, and increase in the number of senior citizens. By product type, synthetic fragrances dominated the fragrances market in 2020. However, their growth is expected to be sluggish from 2020 to 2026 due to growing consumer inclination toward organic, herbal, or natural-fragrance based products. The natural fragrances segment is expected to grow at a higher growth rate from 2020 to 2026. By application, the personal care and cosmetics segment dominated the fragrances market in 2020 due to the strong use of both natural and synthetic fragrances in the industry. Home care is another major segment of the fragrances market. The aromatherapy application segment is expected to register the fastest growth due to a fast-growing spa culture and changing consumer lifestyles globally. Europe accounted for the largest market share in the global fragrances market due to a rich history of invention and evolution of fragrances in the region. The presence of several renowned fragrance-making companies, such as L'Oréal SA, Chanel, LVMH, Avon Products Inc., Nina Ricci, Guerlain, and Christian Dior, in the region is likely to support the expansion of the regional fragrances market during the forecast period. Moreover, Latin America and Asia-Pacific markets are expected to grow at a rapid pace due to a growing population, increasing per-capita income, and changing lifestyle in the region. The impact of the COVID-19 pandemic on the market, which has been uneven, has been considered in this analysis. There has been an increase in the demand for personal-care products (such as sanitizer, soap, body wash) and other home cleaning chemicals (floor cleaners, surface disinfectants) due to an increase in awareness about health and hygiene. On the contrary, the demand for cosmetic products (skin care, hair care, lip care, make-up products, and fine fragrances) decreased in 2020 due to travel restrictions and stay-at-home orders.--BEGIN PROMO--

Research Scope

The scope of this study includes essential oils and aroma chemicals—the chief raw materials used to manufacture fragrances. Aroma chemicals are further studied with respect to their source—natural aroma chemicals and synthetic aroma chemicals—and types—terpenes, benzenoids, and musk chemicals. This study primarily focuses on assessing the growth opportunities for the fragrances market with respect to natural fragrances and synthetic fragrances.

By application, the scope of the study includes personal care and cosmetics, aromatherapy, and home care.

The geographic scope of this study is global and includes the following regions: North America (NA), Europe, Asia-Pacific (APAC), and Rest of World (RoW). 

More Information
No Index No
Podcast No
Author Nimisha Dhomne
WIP Number K672-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9104-A2,9938-A2,9595