Natural fragrances Market Size by Competitor Analysis, Regional Portfolio, and Forecast 2032
Natural Fragrances Market Overview
The natural fragrances market is
anticipated to acquire USD 48.3 billion by the end of 2032. The report further
predicts the market to thrive at a healthy CAGR of over 7.5% during the review
timeframe.
A natural fragrance refers to the
production of essential oil. Examples of essential oils include peppermint and
lavender. There are several essential oils since many shrubs, flowers, and
plants have pleasant-smelling oils. The global natural
fragrances market size has witnessed enormous growth in the last few years.
The market's growth is credited to the factors such as growing awareness
regarding the hazards and dangers of using artificial fragrances and heavy
investments in research and development. On the other hand, the volatility of
raw material prices can impede the market's growth.
Competitive Analysis
The natural fragrances market has an
incredibly competitive landscape with the presence of a large number of players
spread worldwide. The players across the market are actively investing, causing
a surge in the market concentration. In addition, the players implement several
new growth policies such as acquisitions, strategic partnerships, and mergers.
Furthermore, the growing number of research & development activities to
launch innovative products are likely to offer lucrative opportunities to
players across the globe. The global natural fragrances market has prominent
leaders such as Robertet SA (France), T.Hasegawa Co., Ltd (Japan), Sensient
Technologies Corporation (US), Symrise AG (Germany), Givaudan SA (Switzerland),
BMV Fragrances Private Limited (India), Ungerer and Company (US), Mane SA
(France), Takasago International (Japan), International Flavours and Fragrance
(US), Firmenich SA (Switzerland), Natural Fragrance Company Ltd. (UK), Bell
Flavors & Fragrances (US), Akay Group Ltd. (UAE), and several others.
Segment Analysis
The global natural
fragrances market overview has been segregated into various segments based
on source, application, and region.
Based on the source, the global natural
fragrances market is split into wood, flower-based, spices, fruit-based, and
others.
Based on application, the natural
fragrances market is divided into toiletries and detergents, fine fragrances,
food & beverage, cosmetics, and others.
Regional Analysis
The global natural fragrances market is
studied across five major regions: Asia-Pacific, Europe, Latin America, North
America, and the Middle East & Africa.
The MRFR report suggests that the European
regional market for natural fragrances is anticipated to register the highest
revenues over the forecasted era. The region is further divided into Spain,
Italy, the United Kingdom, France, Germany, and the rest of the European Union.
The regional market's growth is mainly credited to the presence of many of the
world's largest natural fragrances manufacturers. Furthermore, the growing
consciousness regarding health and the environment is also projected to boost
demand for natural fragrances over the forecasted era.
The North American region will likely
secure a substantial share in the global natural fragrances market over the
assessment era. The region is further divided into the United States of
America, Mexico, and Canada.
The Asia-Pacific regional market for
natural fragrances is anticipated to register the highest CAGR over the
forecasted era. The region has major growth contributors such as Japan, India,
and Japan. The regional market's growth is mainly credited to the growing
demand for essential oils items across countries such as Japan, China, India,
and Vietnam. Consumers across the regional market are inclined toward buying
personal care products, toiletries, and cosmetics that use naturally derived
fragrances.
Recent Developments
• March
2022- Symrise, a prominent supplier of flavours and fragrances, has announced
that it has submitted a binding offer for the acquisition of fragrance house R.
Romani - Société Française d’Aromatiques (SFA Romani), and Neroli Invest DL
(Groupe Neroli). With these deals, Symrise aims to strengthen its fine
fragrance presence across southern France, its effectiveness in creating
fragrance compositions and expands its presence in prime nations in the Middle
East, Africa, and Europe.
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