Fragrance Ingredients Market Size, Share, and Growth Analysis

Fragrance Ingredients Market By Type (Synthetic Ingredients, Natural Ingredients), By Application (Personal Care, Fabric Care), By Region -Industry Forecast 2025-2032


Report ID: SQMIG15E2583 | Region: Global | Published Date: January, 2025
Pages: 193 |Tables: 63 |Figures: 68

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Fragrance Ingredients Market Insights

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

Global Fragrance Ingredients Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Fragrance Ingredients Market Segments Analysis

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.

Analysis by Type

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.

Analysis by Application

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.

Global Fragrance Ingredients Market By Type

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Fragrance Ingredients Market Regional Insights

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.

Global Fragrance Ingredients Market By Geography
  • Largest
  • Fastest

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Fragrance Ingredients Market Dynamics

Drivers

Surging Demand for Personal Care Products

  • Growing disposable income of people around the world has resulted in increasing spending on personal care thereby also boosting the sales of personal care products. perfumes, deodorants, and body sprays are some popular personal care products that are expected to favor the global fragrance ingredients market outlook in the future.

High Preference for Natural Fragrances

  • Growing consumer awareness regarding the importance of natural and organic products is expected to drive up the demand for natural fragrance ingredients over the coming years. Extensive adoption of natural fragrance ingredients derived from essential oils, flowers, and herbs in multiple industry verticals is also slated to boost revenue generation across the global fragrance ingredients market forecast.

Restraints

Potential Risk of Allergic Reactions

  • The potential risk of allergic reactions of certain synthetic fragrance ingredients is expected to impede the global demand for fragrance ingredients in the long run. Skin irritation and rashes are some allergic reactions that are expected to result in consumer hesitation and calls for transparency in formulations thereby slowing down fragrance ingredients sales.

Volatility in Raw Material Prices

  • Fragrance ingredients are subject to fluctuations in raw material pricing and availability due to a wide variety of reasons ranging from economic uncertainty to disruptions in supply chain. These fluctuations can affect the production costs of fragrance ingredients and hurt the profitability of manufacturers, which in turn has a negative impact on the global fragrance ingredients industry.

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Fragrance Ingredients Market Competitive Landscape

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.

Top Players in Fragrance Ingredients Market

  • BASF SE
  • Fine Fragrance Pvt Ltd
  • Firmenich SA (Sentarom SA)
  • Kalpsutra Chemicals Pvt. Ltd.
  • Mane SA
  • Robertet Group
  • S H Kelkar & Co. Limited
  • Symrise AG
  • Givaudan
  • International Flavors & Fragrances Inc.
  • T.Hasegawa Co. Ltd.
  • Takasago International Corporation
  • Treatt

Recent Developments

  • In October 2024, Osmo, a digital olfaction organization backed by Bill & Melinda Gates Foundation announced the launch of three new scent ingredients - Glossine, Fractaline, and Quasarine. All of these new ingredients were developed using proprietary artificial intelligence (AI) technology making them a unique offering.
  • In June 2024, International Flavors & Fragrances Inc. (IFF), a leading provider of flavor and fragrance ingredients from the United States announced the launch of its new fragrance ingredients. Ylanganate, a new fragrance molecule; and Grapefruit and Persian Lime Oils were launched at the World Perfumery Congress 2024 by IFF’s in-house natural ingredient specialist known as LMR Naturals (LMR).
  • In March 2024, Givaudan, a global leader in fragrance business announced the launch of a new ingredient to create white floral profile fragrances. The new molecule is called Nympheal and offers a bloom effect in water applications to provide a wide scope of versatility for all types of perfumers.

Fragrance Ingredients Key Market Trends

Fragrance Ingredients Market SkyQuest Analysis

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
  • Type
    • Natural Ingredients, and Synthetic Ingredients
  • Application
    • Hair Care, Personal Care, Fabric care, and Others
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
  • BASF SE
  • Fine Fragrance Pvt Ltd
  • Firmenich SA (Sentarom SA)
  • Kalpsutra Chemicals Pvt. Ltd.
  • Mane SA
  • Robertet Group
  • S H Kelkar & Co. Limited
  • Symrise AG
  • Givaudan
  • International Flavors & Fragrances Inc.
  • T.Hasegawa Co. Ltd.
  • Takasago International Corporation
  • Treatt
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Fragrance Ingredients Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Fragrance Ingredients Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

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.

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FAQs

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).

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. 'BASF SE', 'Fine Fragrance Pvt Ltd', 'Firmenich SA (Sentarom SA)', 'Kalpsutra Chemicals Pvt. Ltd.', 'Mane SA', 'Robertet Group', 'S H Kelkar & Co. Limited', 'Symrise AG', 'Givaudan', 'International Flavors & Fragrances Inc.', 'T.Hasegawa Co. Ltd.', 'Takasago International Corporation', 'Treatt'

Growing disposable income of people around the world has resulted in increasing spending on personal care thereby also boosting the sales of personal care products. perfumes, deodorants, and body sprays are some popular personal care products that are expected to favor the global fragrance ingredients market outlook in the future.

Emphasis of Sustainability: Fragrance ingredient providers should focus on incorporating sustainability in their offerings and business process to attract eco-conscious consumers. Focusing on this fragrance ingredients market trend requires companies to opt for strategies such as sourcing renewable raw materials and adopting eco-friendly manufacturing processes across the study period to stand out from the competition.

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.

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Fragrance Ingredients Market

Report ID: SQMIG15E2583

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