April 21, 2024

The natural fragrance industry refers to the production and supply of fragrances derived from natural ingredients such as plant extracts, essential oils, and botanicals. These fragrances are used in various products, including perfumes, colognes, personal care products, home fragrances, and cosmetics. The natural fragrance market size is projected to reach USD 4.3 billion by 2024 from USD 2.7 billion in 2019, at a CAGR of 9.6% between 2019 and 2024. Rising growth in the personal care & cosmetic industry and growing demand for natural & organic products are driving the demand for natural fragrance market. 

Browse 69 market data Tables and 42 Figures spread through 115 Pages and in-depth TOC on “Natural Fragrance Market by Ingredients (Essential Oils, Natural Extracts), Application (Fine Fragrances, Personal Care & Cosmetics, Household Care), and Region (Europe, North America, APAC, South America, Middle East & Africa) – Global Forecast to 2024”

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The demand for natural fragrances has been growing steadily in recent years due to several factors:

  1. Increasing consumer preference for natural and organic products: Many consumers are becoming more conscious about the ingredients used in the products they use and are seeking alternatives to synthetic fragrances. Natural fragrances are perceived as safer and more environmentally friendly, which has driven the demand for such products.
  2. Health and wellness trends: There is a growing awareness of the potential health risks associated with synthetic chemicals used in fragrances. Natural fragrances are seen as a healthier option as they do not contain synthetic ingredients that may cause allergies or sensitivities in some individuals.
  3. Sustainability and eco-consciousness: The natural fragrance industry aligns with the increasing global focus on sustainability and eco-friendly practices. Natural ingredients are often sourced through sustainable methods, such as organic farming and fair trade practices, which appeals to environmentally conscious consumers.
  4. Regulatory restrictions on synthetic fragrances: Some countries and regions have implemented regulations to restrict the use of certain synthetic fragrance ingredients due to their potential environmental and health impacts. This has further driven the demand for natural fragrances as companies seek compliant alternatives.

Essential Oils are the largest segment of the natural fragrance market.

The essential oils segment is estimated to lead the market, in terms of value, in 2019. The demand for essential oils is growing because of the health hazards caused due to synthetic ingredients and increasing demand for natural and organic products. Additionally, rising consumer awareness regarding the numerous health benefits of essential oils as topical application and aromatherapy are expected to drive the growth of the market.

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Fine fragrances application is estimated to be the largest segment of the natural fragrance market during the forecast period.

The fine fragrances application is estimated to be the largest segment of the natural fragrance market, in terms of value, during the forecast period. The growing use of fine fragrances in applications such as perfumes, colognes, and deodorants have driven its demand, which in turn drives the demand for natural fragrances. Rising sales of these personal care & beauty products are anticipated in further driving the growth of the segment.

Europe is estimated to be the largest market for natural fragrances during the forecast period.

Europe is the largest natural fragrances market and is expected to continue dominating the global market during the forecast period. Increased investments in the manufacturing industries primarily drive the market. Improving living standard has been driving the growth of the personal care & cosmetic industry, which is expected to drive the natural fragrances market.

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Natural Fragrance Market Key Players

The key market players profiled in the report include as Givaudan SA (Switzerland), Firmenich SA (Switzerland), International Flavors & Fragrances (US), Symrise AG (Germany), Takasago International Corporation (Japan), Mane SA (France), Robertet SA (France), Sensient Technologies Corporation (US), T. Hasegawa Co., Ltd. (Japan), Bell Flavors & Fragrances (US).

Firmenich SA (Switzerland)is one of the major manufacturers of fragrances. In March 2016, the company opened a manufacturing facility in Buenos Aires, Argentina. The expansion has helped the company strengthen its position in the fragrances market in Argentina. In July 2018, Agilex Fragrances, which is a part of Firmenich group, acquired Fragrance West (US). This acquisition will help the company strengthen its position in the fragrances market in the Americas.