The natural fragrance ingredients market was valued at US$ 2.5 billion in 2022; registering at a CAGR of 7.5% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Growing Demand for Natural Ingredients in Fragrances Over Synthetic Fragrance Ingredients Drives Growth of Natural Fragrance Ingredients Market
Natural Fragrance Ingredients Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Spice Based, Flower Based, Fruit Based, and Others), Application (Fine Fragrances, Skincare, Haircare, Fabric Care, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)
Natural Fragrance Ingredients Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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Natural fragrance ingredients are mainly formulated from spices, flowers, and fruits. They are added in essential oils and extracts, fine fragrances, skincare, hair care, and fabric care products for a unique aroma.
Natural fragrance ingredients are used in perfumes, soaps, detergents, and deodorants. Consumers prefer natural ingredients over synthetic ingredients due to the toxicity of synthetic ingredients and their adverse effects on the skin. As a result, the demand for natural fragrance ingredients is increasing. In addition, bergamot, blue tansy, carnation, chamomile, and jasmine possess antiseptic and anti-inflammatory properties, which are beneficial in treating insomnia and skin disorders. Therefore, they have a large application in perfumes, essential oils, and soaps, which fuels the growth of the natural fragrance ingredients market.
The flower-based fragrance ingredients are gaining huge traction among consumers due to their therapeutic and healing benefits. The ingredients made from jasmine, motia, and red rose are volatile organic compositions. Floral fragrance ingredients are widely used in perfumes, soaps, and other skincare products. The fragrance ingredients formulated from flowers, such as lavender and jasmine, have antioxidant and antimicrobial properties. The properties help control dryness and premature ageing. Moreover, the rising incidence of allergies and skin disorders among the population owing to the increasing pollution and changing lifestyle boost the demand for flower-based natural ingredients.
Based on application, the natural fragrance ingredients market is segmented into fine fragrances, haircare, skincare, fabric care, and others. The skincare segment is expected to register the highest CAGR from 2022 to 2028. Cases of various skin disorders such as acne, atomic dermatitis, and psoriasis are increasing. Hence, consumers prefer skincare products with medicinal properties over other synthetic alternatives. Manufacturers are launching natural fragrance ingredients made from spice, flower, and fruit-based extracts to meet emerging consumer needs and acquire new consumers. For instance, on October 14, 2022, Givaudan collaborated with TMIC and launched the fragrance industry’s first AI-powered fragrance co-creation service in China. Hence, such products are gaining immense popularity among consumers. Thus, the availability of innovative products drives the market growth.
Givaudan SA, International Flavors and Fragrances (IFF), Takasago International, Huabao Group, Firmenich SA, Symrise AG, Robertet SA, Mane SA, Agilex Fragrances, and Carmi Flavor & Fragrance Co. Inc. are a few key players profiled in the study of the natural fragrance ingredients market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.
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