According to a recent analysis by The Insight Partners, The Natural Fragrance Ingredients Market is expected to grow from US$ 2.5 billion in 2022 to US$ 4.5 billion by 2028; it is estimated to grow at a CAGR of 7.5% from 2022 to 2028.
Natural fragrance ingredients are mainly formulated from spices, flowers, and fruits. They are added in essential oils and extracts, fine fragrances, skincare, hair care, and fabric care products for a unique aroma.
Detergents, soaps, deodorants, and perfumes all contain natural fragrance components. Due of the toxicity of synthetic substances and their negative effects on the skin, consumers choose natural components over synthetic ones. As a result, there is a rising need for natural scent compounds. Additionally, the antibacterial and anti-inflammatory characteristics of bergamot, blue tansy, carnation, chamomile, and jasmine are helpful in treating skin conditions and insomnia. As a result, they are widely used in fragrances, essential oils, and soaps, which stimulates the market for natural scent ingredients.
The therapeutic and restorative properties of the flower-based fragrance compounds are causing them to become extremely popular with customers. Jasmine, motia, and red rose are used to make volatile organic compounds. Ingredients with floral scents are frequently found in soaps, lotions, and other skincare products. Lavender and jasmine are two examples of flowers used to create aroma components that have antibacterial and antioxidant effects. The qualities aid in preventing premature ageing and dryness. A further factor driving demand for flower-based natural compounds is the population's increasing tendency toward allergies and skin conditions brought on by rising pollution levels and changing lifestyles.
The market for natural fragrance compounds is divided into categories based on application, including fine fragrances, haircare, skincare, fabric care, and others. From 2022 to 2028, the skincare segment is anticipated to have the highest CAGR. Acne, atomic dermatitis, and psoriasis cases are on the rise, among other skin problems. As a result, people favour skincare products with medical qualities over other synthetic substitutes. To suit changing consumer demands and attract new customers, manufacturers are introducing natural scent components derived from fruit, flower, and spice extracts. For instance, Givaudan and TMIC worked together to offer the first AI-powered fragrance co-creation service in China on October 14, 2022. As a result, people are becoming quite interested in these products. Thus, the availability of cutting-edge items fuels market expansion.
Givaudan SA, International Flavors and Fragrances (IFF), Takasago International, Huabao Group, Firmenich SA, Symrise AG, Robertet SA, Mane SA, Agilex Fragrances, and Carmi Flavor & Fragrance Co. Inc. are a few key players profiled in the study of the natural fragrance ingredients market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.
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