The global natural fragrance market size is expected to gain momentum in the coming years on account of the changing lifestyle and consumer preference for light and organic products. Natural fragrance is a perfume made by using organic and natural sources in the environment. The change in lifestyle and fashion trends has propelled the demand for natural look makeup and natural fragrances. A recent report by Fortune Business Insights discusses the market and its growth trajectories in details. The report is titled, “Natural Fragrance Market Size, Share & Industry Analysis, By Ingredient (Essential Oils, Natural Extracts), By Type of Scent (Top note, Middle Note, Base Note), By Application (Fine Fragrances, Personal Care & Cosmetics, Household Care) Others and Regional Forecast, 2024-2032.”
Some of the Key Players of the Natural Fragrance Market include:
Fragrance Oils (International) Limited
Alpha Aromatics
Robertet SA
Royal Aroma
Symrise
Agilex Fragrances
Carmi Flavor & Fragrance Co., Inc.
Givaudan SA
Ogawa & Co.Ltd.
Lebermuth, Inc.
MJ Biopharm Pvt. Ltd
Multiflora
Firmenich SA
Fine Fragrances Pvt. Ltd.
Other players
What Are the Highlights of the Report?
The report offers a comprehensive overview of the market and highlights the vital factors promoting, repelling, challenging, and bringing new opportunities for the market. It also discusses the current trends, recent industry developments and various interesting insights that will help financers accordingly invest in the market for the future. The report also mentions the names of major segments and the prominent players operating in the market. For more information on the report, refer to the company website.
Drivers & Restraints-
Low-Toxicity Characteristics of Natural Fragrance to Augment Growth
The rising demand for natural ingredients in fragrances from various end-user products is a key factor in promoting the global natural fragrance market growth. In addition to this, natural fragrance is long-lasting and have low toxicity as compared to the synthetic fragrance. Therefore, it’s increasing popularity will aid in the expansion of the market. Besides this, the increasing demand for strong musk-scented and earthly scented perfumes will bode well for the market in the forecast period.
On the flip side, the fact that natural fragrances are quite similar to one another neutralizes the brand essence when it comes to various players operating in the market. Moreover, the manufacturing of natural fragrance is time-consuming and more expensive, as compared to synthetic perfumes. The factors mentioned above may cause significant hindrance to the market in the long run.
Segment:
The market is categorized into:
The market for natural fragrance is categorized based on ingredient, type of scent, and application. The ingredient segment is bifurcated into natural extracts and essential oils. The kind of scent segment is classified into the base note, middle note, and top note. The application segment is grouped into household care, personal care and cosmetics, and fine fragrances.
Information Source: https://www.fortunebusinessinsights.com/natural-fragrance-market-102359
Regional Analysis-
Europe Dominating Market Attributable to Rising Consumer Preference
Regionally, Europe earned the largest natural fragrance market share and emerged dominant. Growth of this region is attributed to the changing lifestyle and increasing consumer preference towards naturally scented end-user products. North America follows Europe on account of the increasing number of premium consumers in the region. Furthermore, Asia Pacific will exhibit the fastest CAGR in the forecast years on account of increasing disposable incomes of people in the developing nations, coupled with a rise in the exposure of adopting premium perfume brands with natural flavours.
Competitive Landscape-
Players Investing in Product Development and New Launches to Gain Prominent Position
The global market for natural fragrance is highly fragmented on account of the presence of many players. Most of them are investing in the development of premium quality fragrances with a natural essence. The other players are engaging in strategic collaborations, such as contracts and agreements, joint ventures, and others. These schemes are likely to help the players gain a competitive edge in the market.