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DUBLIN--(BUSINESS WIRE)--Dec 2, 2022--
The "Fragrance Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global fragrance ingredients market size reached US$ 8.46 Billion in 2021. Looking forward, the market is expected to reach US$ 12.25 Billion by 2027, exhibiting a CAGR of 6.36% during 2021-2027
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Fragrance refers to a unique and intricate combination of various synthetic and natural aromatic ingredients, which are blended and incorporated as a key component in different products to provide them pleasant scent. These substances are precisely extracted from flowers, fruits, shrubs, and herbs for the formulation of aromatic chemicals and several essential oils.
After preparation, fragrance ingredients are added as key components for manufacturing spray perfumes, cosmetics, soaps, detergents, incense, personal care, and household products. At present, fragrance ingredients are commercially available in essential oil and aromatic chemical product variants.
Fragrance Ingredients Market Trends:
The significant expansion in the cosmetic industry, along with the increasing demand for air fresheners and various personal care products, such as creams, shampoos, toiletries, mists, perfumes represent the key factors currently driving the market growth.
In line with this, the rising awareness amongst consumers regarding the ill-effects of using chemical-infused personal care products has resulted in a shifting inclination toward natural fragrance ingredients extracted from plants, animals, and fruits. This is also supported by rising investments in research and development (R&D) activities by governments of various nations to promote the use of safer, eco-friendly, and dermatologically tested goods, which, in turn, is propelling the market growth.
Furthermore, the increasing utilization of fragrances in aromatherapy applications owing to their therapeutic benefits, such as reducing stress, enhancing sleep patterns, and uplifting mood are further contributing to the market growth. Moreover, the frequent mergers and acquisitions (M&A) amongst key players have led to the introduction of several international fragrance brands across the globe.
These establishments have enabled consumers to custom-make their own perfumes and experience contemporary fragrances with oriental notes, which is supporting the market growth. Other factors, such as continuous product innovations and the widespread adoption of smart marketing strategies, are creating a positive outlook for the market.
Key Questions Answered in This Report:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Key Market Segmentation:
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For more information about this report visit https://www.researchandmarkets.com/r/uwavrh
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KEYWORD:
INDUSTRY KEYWORD: COSMETICS RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/02/2022 05:15 AM/DISC: 12/02/2022 05:17 AM
http://www.businesswire.com/news/home/20221202005144/en