USD 15.63 Billion
Report ID:
SQMIG15E2583 |
Region:
Global |
Published Date: January, 2025
Pages:
193
|Tables:
63
|Figures:
68
Global Fragrance Ingredients Market size was valued at USD 15.63 Billion in 2023 and is expected to rise from USD 16.25 Billion in 2024 to USD 21.9 Billion by 2032, at a CAGR of 3.8% during the forecast period (2025–2032).
Rapidly increasing sales of personal care products around the world are primarily driving the demand for fragrance ingredients. Increasing disposable income of people and evolving consumer preferences are also forecasted to bolster the sales of fragrance ingredients going forward. The boom in cosmetics industry and extensive use of fragrance ingredients in the same are also slated to favor the global fragrance ingredients market growth in the future. Rising demand for natural and organic fragrance ingredients is also estimated to bolster market development potential in the long run. Moreover, innovations in fragrance formulations are also projected to result in the creation of novel fragrance ingredients that are more long-lasting and captivating. High use of fragrance ingredients in home care and cleaning products can also offer new business scope for market players over the coming years. On the contrary, high costs of natural ingredients, potential risk of allergic reactions, volatility in is material pricing, and environmental concerns are predicted to impede the sales of fragrance ingredients across the study period and beyond.
Market snapshot - (2025–2032)
Global Market Size
USD 15.63 Billion
Largest Segment
Synthetic Ingredients
Fastest Growth
Natural Ingredients
Growth Rate
3.8% CAGR
To get more reports on the above market click here to Buy The Report
The fragrance ingredients market is segmented based on the type, application, and region. Based on the type, the fragrance ingredients market is segmented into natural ingredients and synthetic ingredients. In terms of application, the market is divided into hair care, personal care, fabric care, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Synthetic ingredients are forecasted to account for a prominent chunk of the global fragrance ingredients market share. Cheaper production and higher consistency in scent are the key benefits of synthetic fragrance ingredients that allow them to bring in the most revenue. The ability of synthetic ingredients to create a wide variety of fragrances and longer shelf life are also helping them emerge as a preferred choice for manufacturers of different products such as soaps, perfumes, and lotions. Moreover, manufacturers get greater control over the fragrance profile to alter longevity and specific notes of the fragrance.
On the other hand, the demand for natural ingredients is slated to rise at an impressive pace over the coming years. Growing preference for natural and organic ingredients in fragrance-related products among consumers is expected to help this segment generate new opportunities. Increasing awareness regarding the potential therapeutic and health benefits associated with natural fragrances is also slated to help this segment boost sales of fragrance ingredients in the long run. Rising emphasis on sustainability and the adoption of clean beauty trends are also slated to bolster the demand for natural fragrance ingredients over the coming years.
The personal care segment is forecasted to bring in the most revenue for any company operating in the global fragrance ingredients industry. Rapidly surging demand for personal care products and increasing willingness of consumers to spend on personal care are helping this segment maintain a dominant stance. Increasing product innovation in the personal care industry and emphasis on brand distinction through fragrances are also expected to help this segment maintain its dominant stance in the future. Shampoos, shower gels, shaving creams, body lotions, perfumes, colognes, aftershaves, lipsticks, and skin moisturizers are some popular personal care products that utilize fragrance ingredients extensively.
On the other hand, the use of fragrance ingredients in fabric care applications is slated to rise at a steady pace in the future. Growing emphasis on hygiene and cleanliness among people around the world is expected to primarily create new opportunities via this segment. Efforts to make fabric care sustainable and incorporation of pleasant fragrances to make clothing more appealing after care are also projected to bolster the demand for fragrance ingredients in this segment. Fragrance ingredients capable of providing delicate aroma whilst masking unpleasant chemical odor and surviving the wash process are estimated to be high in demand in this segment through 2032.
To get detailed analysis on other segments, Request For Free Sample Report
Asia Pacific is forecasted to account for a dominant share of the global fragrance ingredients market size going forward. Rapidly increasing sales of personal care products, presence of leading fragrance ingredients providers, and growing disposable income of people are key factors cementing the dominance of this region. The expanding middle-class population and evolving consumer preferences are also slated to play a vital role in promoting the sales of fragrance ingredients in this region. India, China, and Japan are estimated to emerge as the most rewarding markets for fragrance ingredient suppliers looking to make a mark in the Asia Pacific region over the coming years.
Meanwhile, the demand for fragrance ingredients is slated to rise at a steady pace in the North American region over the coming years. High consumer spending on cosmetics and personal care, diverse fragrance requirements of consumers, and high demand for premium perfumes and fragrances are slated to bolster the demand for fragrance ingredients in this region. High emphasis on sustainability and rising awareness regarding importance of natural fragrances are slated to uplift the sales of natural fragrance ingredients in North America. The United States and Canada are forecasted to emerge as leading revenue generators for fragrance ingredient vendors in this region.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Surging Demand for Personal Care Products
High Preference for Natural Fragrances
Potential Risk of Allergic Reactions
Volatility in Raw Material Prices
Request Free Customization of this report to help us to meet your business objectives.
Fragrance ingredient suppliers are expected to focus on providing natural and organic ingredients to appease eco-conscious consumers. Reducing the risk of allergic reactions from synthetic fragrance ingredients is also a key area of interest for fragrance ingredient manufacturers. Targeting countries with rising spending on personal care should be the prime focus of all fragrance ingredient companies in the long run.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing sales of personal care products and rising demand for natural fragrances are projected to drive fragrance ingredient sales over the coming years. However, volatility in raw material pricing and risk of allergic reactions are expected to slow down market growth in the future. The Asia Pacific region is projected to spearhead fragrance ingredient demand outlook owing to rising disposable income and expanding middle-class population in countries such as China and India. Development of functional fragrance ingredients and emphasis on sustainability are slated to offer new business scope for all fragrance ingredient providers in the long run.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 15.63 Billion |
Market size value in 2032 | USD 21.9 Billion |
Growth Rate | 3.8% |
Base year | 2024 |
Forecast period | (2025–2032) |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Fragrance Ingredients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fragrance Ingredients Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fragrance Ingredients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fragrance Ingredients Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Feedback From Our Clients
Report ID: SQMIG15E2583
[email protected]
USA +1 351-333-4748