Fragrance ingredients market 2023-2027: A descriptive analysis of parent market, five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Dec. 20, 2022 /PRNewswire/ -- According to Technavio, the global fragrance ingredients market size is estimated to grow by USD 3,839.31 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.8% during the forecast period. Moreover, the growth momentum will progress. North America will account for 38% of the growth of the global market during the forecast period. 

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Global fragrance ingredients market - Five forces
The global fragrance ingredients market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• For an interpretation of Porter's five forces model – buy the report!

Global fragrance ingredients market - Parent market analysis

Technavio categorizes the global fragrance ingredients market as a part of the global specialty chemicals market, which covers companies engaged in manufacturing various types of products under organic and inorganic chemicals. Technavio calculates the size of the global specialty chemicals market based on the combined revenue generated by the manufacturers of organic and inorganic chemicals and all sub-categories.

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Global fragrance ingredients market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global fragrance ingredients market - Segmentation assessment

Segment overview
Technavio has segmented the market based on application (personal care, fabric care, hair care, and others) and type (essential oils and aroma chemicals). 

• The personal care segment will contribute significantly to the growth of the global market during the forecast period. The growth of this segment is attributed to factors such as the rapid rise of the e-retail industry. In addition, the growing disposable income, rise in middle-class population, rapid urbanization, and numerous advertisements and promotions are some of the other factors that will influence the growth of the segment during the forecast period.

Geography overview
Based on geography, the global fragrance ingredients market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global fragrance ingredients market.

• North America is estimated to account for 38% of the growth of the global market during the forecast period. This growth is attributed to factors such as the presence of key vendors, growing demand for fragrances in personal care industries, new product launches, and rising disposable income of people.

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Global fragrance ingredients market – Market dynamics
Key factor driving market growth

• The growing demand for cosmetic products is notably driving the market growth. 
• The aging population globally is increasing the high demand for anti-aging products such as creams, moisturizers, and anti-wrinkle products.
• Customers are investing significantly in new and effective anti-aging products to reduce blemishes, wrinkles, and dark spots.
• Therefore, the high demand for cosmetic products due to the aging global population will drive the growth of the market during the forecast period. 

Leading trends influencing the market 

• The growing preference for natural ingredients is a key trend in the fragrance ingredients market. 
• Natural fragrance ingredients are derived from plants, animals, or fruits. The demand for such products is higher when compared to synthetic aroma chemicals due to the growing awareness about the harmful effects of such chemicals on the skin.
• Fragrance ingredients used in deodorants, hair oils, perfumes, and detergents can cause skin irritation when applied directly on the skin. Hence, many vendors are introducing fragrance ingredients made from natural products. 
• Therefore, the demand for natural fragrance ingredients is expected to grow when compared to synthetic chemicals, which, in turn, will support the global fragrance ingredients market during the forecast period.

Major challenges hindering market growth

• The low shelf life is a major challenge in the fragrance ingredients market. 
• Essential oils are classified into top, middle, and base notes.
• Top notes such as lemon, bergamot, cajuput, caraway, citronella, cumin, eucalyptus, grapefruit, lemongrass, lime, mandarin, niaouli, and orange essential oils are classified as highly volatile substances. However, high volatility can affect the shelf life of essential oils.
• Therefore, the low shelf life of essential oils will affect their demand, which, in turn, may hinder the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this fragrance ingredients market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fragrance ingredients market between 2023 and 2027
• Precise estimation of the size of the fragrance ingredients market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the fragrance ingredients market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of fragrance ingredients market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global fragrance ingredients market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global fragrance ingredients market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Personal care - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Personal care - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Personal care - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Personal care - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Personal care - Year-over-year growth 2022-2027 (%)

• 6.4 Fabric care - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Fabric care - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Fabric care - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Fabric care - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Fabric care - Year-over-year growth 2022-2027 (%)

• 6.5 Hair care - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Hair care - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Hair care - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Hair care - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Hair care - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 51: Chart on Type - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 53: Chart on Comparison by Type
• Exhibit 54: Data Table on Comparison by Type

• 7.3 Essential oils - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Essential oils - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Essential oils - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Essential oils - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Essential oils - Year-over-year growth 2022-2027 (%)

• 7.4 Aroma chemicals - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Aroma chemicals - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Aroma chemicals - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Aroma chemicals - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Aroma chemicals - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 63: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Canada - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027 
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 105: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 AARAV Flavors and Fragrances Pvt. Ltd. 
• Exhibit 116: AARAV Flavors and Fragrances Pvt. Ltd. - Overview
• Exhibit 117: AARAV Flavors and Fragrances Pvt. Ltd. - Product / Service
• Exhibit 118: AARAV Flavors and Fragrances Pvt. Ltd. - Key offerings

• 12.4 Alpha Aromatics Inc.
• Exhibit 119: Alpha Aromatics Inc. - Overview
• Exhibit 120: Alpha Aromatics Inc. - Product / Service
• Exhibit 121: Alpha Aromatics Inc. - Key offerings

• 12.5 BASF SE
• Exhibit 122: BASF SE - Overview
• Exhibit 123: BASF SE - Business segments
• Exhibit 124: BASF SE - Key news
• Exhibit 125: BASF SE - Key offerings
• Exhibit 126: BASF SE - Segment focus

• 12.6 BRENNTAG SE
• Exhibit 127: BRENNTAG SE - Overview
• Exhibit 128: BRENNTAG SE - Business segments
• Exhibit 129: BRENNTAG SE - Key offerings
• Exhibit 130: BRENNTAG SE - Segment focus

• 12.7 CPL Aromas
• Exhibit 131: CPL Aromas - Overview
• Exhibit 132: CPL Aromas - Product / Service
• Exhibit 133: CPL Aromas - Key offerings

• 12.8 Ernesto Ventos SA
• Exhibit 134: Ernesto Ventos SA - Overview
• Exhibit 135: Ernesto Ventos SA - Product / Service
• Exhibit 136: Ernesto Ventos SA - Key offerings

• 12.9 Fine Fragrances
• Exhibit 137: Fine Fragrances - Overview
• Exhibit 138: Fine Fragrances - Product / Service
• Exhibit 139: Fine Fragrances - Key offerings

• 12.10 Firmenich SA
• Exhibit 140: Firmenich SA - Overview
• Exhibit 141: Firmenich SA - Product / Service
• Exhibit 142: Firmenich SA - Key offerings

• 12.11 Givaudan SA
• Exhibit 143: Givaudan SA - Overview
• Exhibit 144: Givaudan SA - Business segments
• Exhibit 145: Givaudan SA - Key offerings
• Exhibit 146: Givaudan SA - Segment focus

• 12.12 Huabao International Holdings Ltd 
• Exhibit 147: Huabao International Holdings Ltd - Overview
• Exhibit 148: Huabao International Holdings Ltd - Business segments
• Exhibit 149: Huabao International Holdings Ltd - Key offerings
• Exhibit 150: Huabao International Holdings Ltd - Segment focus

• 12.13 La Scenteur Fragrance Technology Pvt. Ltd. 
• Exhibit 151: La Scenteur Fragrance Technology Pvt. Ltd. - Overview
• Exhibit 152: La Scenteur Fragrance Technology Pvt. Ltd. - Product / Service
• Exhibit 153: La Scenteur Fragrance Technology Pvt. Ltd. - Key offerings

• 12.14 Risdon International
• Exhibit 154: Risdon International - Overview
• Exhibit 155: Risdon International - Product / Service
• Exhibit 156: Risdon International - Key offerings

• 12.15 Robertet SA
• Exhibit 157: Robertet SA - Overview
• Exhibit 158: Robertet SA - Business segments
• Exhibit 159: Robertet SA - Key offerings
• Exhibit 160: Robertet SA - Segment focus

• 12.16 Symrise AG
• Exhibit 161: Symrise AG - Overview
• Exhibit 162: Symrise AG - Business segments
• Exhibit 163: Symrise AG - Key offerings
• Exhibit 164: Symrise AG - Segment focus

• 12.17 The MANE Group
• Exhibit 165: The MANE Group - Overview
• Exhibit 166: The MANE Group - Product / Service
• Exhibit 167: The MANE Group - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 168: Inclusions checklist
• Exhibit 169: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 170: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 171: Research methodology
• Exhibit 172: Validation techniques employed for market sizing
• Exhibit 173: Information sources

• 13.5 List of abbreviations 
• Exhibit 174: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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