Rising Consumer Preferences for Natural Fragrances Fuel Growth of Perfume Ingredient Chemicals Market

According to Future Market Insights, the global perfume ingredient chemicals market is expected to attain a valuation of US$ 7.09 billion in 2023. The market is further projected to reach US$ 12.4 billion by 2033, exhibiting a CAGR of 5.7% during the forecast period.

The growth of the perfume ingredients chemical market is fueled by the rising expenditure on premium quality products, including herbal fragrances, and the increasing consumer spending on cosmetics. The market is also positively impacted by consumer preferences for herbal fragrances and natural beauty products, driving the demand for premium chemical ingredients in perfumes.

The demand for perfume ingredient chemicals is expected to rise due to the rising demand for hair and skin care products. Consumer awareness and preference for new brands positively impact the perfume market. Product innovations, research and development activities, and new product launches in cosmetics and toiletries are expected to drive market growth, especially in the toiletries and cosmetic products segment. These factors contribute to the expansion and retention of the customer base in the perfume ingredients chemicals market.

The market is experiencing a surge in the development of natural-based chemical ingredients to meet the increasing demand for natural fragrances among consumers. With a growing focus on sustainability, consumers are paying more attention to fragrances, especially in personal care and home care products. As a result, market players are concentrating on creating more natural-based ingredient chemicals.

For instance, MANE introduced GREENCATCHER in July 2020, an advanced specialty ingredient with a powerful fruity herbal note that finds applications in personal care and fine fragrance products. Similarly, in March 2019, Givaudan launched Sensityl, a new active ingredient for cosmetics. The development of such natural ingredient solutions is expected to boost the demand for perfume ingredient chemicals, driving market growth during the forecast period.

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Perfume ingredient chemicals, including synthetic aroma chemicals and essential oils, are widely used in various personal care products like aftershaves, shampoos, shaving creams, moisturizers, and facial serums. Thus, increasing global demand for personal care products is expected to drive the market’s growth during the forecast period.

Key Takeaways from the Market Study

• The demand for perfume ingredient chemicals in Sweden is projected to rise with a promising CAGR of 6% during the forecast period.
• The market in North America is expected to thrive with a CAGR of 5.8% during the forecast period.
• By product type, the essential oil segment is anticipated to generate sales with a CAGR of 6.5% during the forecast period.

“The thriving personal care product industry is expected to drive the demand for perfume ingredient chemicals during the forecast period,” comments an FMI Analyst

Competitive Landscape

The perfume ingredient chemicals market is highly competitive, with key industry players making substantial investments to enhance their manufacturing capabilities.

List of Key Players Covered in Perfume Ingredient Chemical Substances Market are:

1. Sensient Technologies Corporation
2. BASF SE
3. Eternis Fine Chemicals
4. YingYang (China) Aroma Chemical Group
5. KDAC CHEM Pvt. Ltd.
6. Frutarom
7. Harmony Organics Pvt. Ltd.
8. Atul Ltd.
9. Godavari Biorefineries Ltd.
10. Givuadan
11. Firmenich
12. International Flavors and Fragrances Inc.
13. Symrise
14. Takasago International Corporation
15. MANA SE
16. Robertet SA
17. Charkit Chemical Company LLC
18. Henkel AG & Co KGaA ADR
19. T. Hasegawa USA
20. Huabao International Holdings Limited
21. Charkit Chemical Company LLC

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Some recent developments in the perfume ingredient chemicals market are:

• In May 2022, DSM Group, a Dutch company, acquired Firmenich, a Switzerland-based perfume manufacturer.
• In December 2021, Givaudan acquired Custom Essence, a fragrance creation house based in the US, which allowed Givaudan to enhance its natural perfumery capabilities.
• In October 2021, L’Oréal Groupe, a leading personal care company from France, introduced a new fragrance disclosure model to inform customers about the ingredients used in its global portfolio of brands and products, beginning with the U.S. rollout.
• In July 2021, German-based flavors and fragrances company, Symrise, unveiled a unique fragrance raw material called Lilybelle.

Perfume Ingredient Chemicals Market by Category

By Product Type:

• Synthetic Aroma Chemicals
  • Alcohol
  • Esters
  • Ethers
  • Ketone
  • Others (Thiols, Dienals, etc.)
• Essential Oils
  • Orange
  • Citronella
  • Peppermint
  • Eucalyptus
  • Others (Rose, Sandalwood,Orange etc.)

By Application:

• Fine Fragrance
• Home Care
• Laundry Care
• Personal Care
• Cosmetics
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan
• Japan
• Middle East & Africa

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global perfume ingredient chemicals market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the perfume ingredient chemicals market, the market is segmented on the basis of product type, application and region.