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

“Increasing use of natural fragrance ingredients in various applications is expected to drive the natural fragrance market.”
The natural fragrance market is estimated to grow from USD 2.7 billion in 2019 to USD 4.3 billion by 2024, at a CAGR of 9.6%. It is driven mainly by the increasing use of natural fragrance ingredients such as essential oils and natural extracts in various applications such as fine fragrances, personal care & cosmetic, and household care. Natural fragrance is a blend of complex fragrance compounds, which are made up of natural aromatics. These fragrances are mainly used to impart the appealing odor/scent for several fragrance applications.
“Natural extracts are expected to be the fastest-growing ingredient segment of the natural fragrance market, in terms of value, between 2019 and 2024.”
The natural extract segment is expected to witness the highest growth in terms of value during the forecast period. The growing concern towards the health hazards caused due to synthetic products has driven the market for natural ingredients, which thereby drives the natural fragrances market.
“Personal care & Cosmetics application segment is estimated to witness the highest growth rate between 2019 and 2024.”
The personal care & cosmetic application segment is estimated to witness the highest growth rate, in terms of value, between 2019 and 2024. This is owing to the increasing consumption of personal care & cosmetic products in the emerging economies around the globe.
“Rising demand from fine fragrances, personal care & cosmetics, and household care is likely to drive the demand for natural fragrance market in Europe.”
The Europe natural fragrance market is estimated to witness significant growth during the forecast period. The rising demand for natural products and increasing urbanization and industrialization are driving the mold release agents market in the region. In addition, the presence of major manufacturers such as Givaudan SA (Switzerland), Firmenich SA (Switzerland), Symrise AG (Germany), Mane SA (France), Robertet SA (France), CPL Aromas (UK), Iberchem (Spain), and Dauper (Spain), has positively influenced the demand trend for natural fragrances in the region.
‧ By Company Type: Tier 1 - 46%, Tier 2 - 31%, and Tier 3 - 23%
‧ By Designation: C-Level - 46%, Director Level - 27%, and Others - 27%
‧ By Region: North America - 33%, Europe - 27%, APAC - 27%, South America - 7%, Middle East & Africa - 6%

The key players profiled in the report include are 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), and Bell Flavors & Fragrances (US).
Research Coverage
This report segments the market for natural fragrance based on ingredients, application, and region, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and acquisitions associated with the market for natural fragrance market.
Reasons to Buy this Report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the natural fragrance market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
‧ Market Penetration: Comprehensive information on natural fragrances offered by top players in the global market

‧ Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the natural fragrance market

‧ Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for natural fragrances across regions

‧ Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global mold release agents market

‧ Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the natural fragrance market

TABLE OF CONTENTS

1 INTRODUCTION 15
1.1 OBJECTIVES OF THE STUDY 15
1.2 MARKET DEFINITION 15
1.3 MARKET SCOPE 16
1.3.1 REGIONS COVERED 16
1.3.2 YEARS CONSIDERED FOR THE STUDY 17
1.4 CURRENCY 17
1.5 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.2 SECONDARY DATA 19
2.2.1 KEY DATA FROM SECONDARY SOURCES 19
2.3 PRIMARY DATA 20
2.3.1 KEY DATA FROM PRIMARY SOURCES 20
2.3.2 BREAKDOWN OF PRIMARY INTERVIEWS 21
2.4 MARKET SIZE ESTIMATION 21
2.4.1 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 22
2.4.2 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 22
2.5 DATA TRIANGULATION 23
2.6 ASSUMPTIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHTS 29
4.1 ATTRACTIVE OPPORTUNITIES IN THE NATURAL FRAGRANCE MARKET 29
4.2 EUROPE: NATURAL FRAGRANCE MARKET, BY APPLICATION AND COUNTRY 29
4.3 NATURAL FRAGRANCE MARKET, BY REGION 30
4.4 NATURAL FRAGRANCE MARKET ATTRACTIVENESS 30
5 MARKET OVERVIEW 31
5.1 INTRODUCTION 31
5.2 MARKET DYNAMICS 31
5.2.1 DRIVERS 32
5.2.1.1 Changing lifestyle and customer preferences 32
5.2.1.2 Rising demand for natural products 32
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5.2.2 RESTRAINTS 32
5.2.2.1 High production and R&D costs 32
5.2.2.2 Compliance with quality & regulatory standards 33
5.2.3 OPPORTUNITIES 33
5.2.3.1 High growth potential in emerging economies 33
5.2.4 CHALLENGES 33
5.2.4.1 High switching cost from synthetic to natural sources 33
5.3 PORTER’S FIVE FORCES ANALYSIS 34
5.3.1 THREAT OF SUBSTITUTES 34
5.3.2 THREAT OF NEW ENTRANTS 35
5.3.3 BARGAINING POWER OF SUPPLIERS 35
5.3.4 BARGAINING POWER OF BUYERS 35
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 36
6 NATURAL FRAGRANCE MARKET, BY INGREDIENTS 37
6.1 INTRODUCTION 38
6.2 ESSENTIAL OILS 39
6.2.1 INCREASING DEMAND FOR ESSENTIAL OILS IN NATURAL FRAGRANCE APPLICATIONS TO DRIVE THE MARKET 39
6.3 NATURAL EXTRACTS 43
6.3.1 INCREASING USE OF NATURAL FRAGRANCE INGREDIENTS TO
DRIVE THE MARKET 43
7 NATURAL FRAGRANCE MARKET, BY APPLICATION 44
7.1 INTRODUCTION 45
7.2 FINE FRAGRANCES 46
7.2.1 INCREASING DEMAND FOR NATURAL FRAGRANCE INGREDIENTS IN PERFUMES & COLOGNES TO DRIVE THE MARKET 46
7.3 PERSONAL CARE & COSMETICS 47
7.3.1 GROWING AWARENESS AMONG CONSUMERS ABOUT HEALTH CONCERNS AND HYGIENE TEND TO INCREASE THE DEMAND FOR NATURAL FRAGRANCE IN PERSONAL CARE PRODUCTS 47
7.4 HOUSEHOLD CARE 48
7.4.1 GROWING DEMAND FOR NATURAL FRAGRANCES IN DETERGENTS TO SIGNIFICANTLY BOOST THE MARKET 48
8 NATURAL FRAGRANCE MARKET, BY REGION 49
8.1 INTRODUCTION 50
8.2 EUROPE 51
8.2.1 GERMANY 53
8.2.1.1 Growth in the personal care & cosmetics application to
boost the market for natural fragrances in Germany 53
8.2.2 ITALY 54
8.2.2.1 Increasing awareness regarding the environmental and
social aspects drives the natural fragrance market in Italy 54
8.2.3 FRANCE 54
8.2.3.1 Increasing consumption of natural products over synthetic ones drives the market 54
8.2.4 UK 55
8.2.4.1 Increasing demand for fragrance ingredients drives the market 55
8.2.5 REST OF EUROPE 56
8.2.5.1 Rise in per-capita income and increase in consumer spending drive the market 56
8.3 NORTH AMERICA 57
8.3.1 US 59
8.3.1.1 Increasing awareness about natural ingredients drives the market 59
8.3.2 MEXICO 60
8.3.2.1 Increasing disposable income of consumers to boost the market 60
8.3.3 CANADA 61
8.3.3.1 Increasing trend toward the use of natural source-based fragrances to drive the market 61
8.4 APAC 62
8.4.1 CHINA 64
8.4.1.1 China is the largest natural fragrance market in APAC 64
8.4.2 JAPAN 64
8.4.2.1 Increasing awareness regarding personal hygiene and health drives the market 64
8.4.3 INDIA 65
8.4.3.1 India is one of the fastest-growing natural fragrance markets globally 65
8.4.4 SOUTH KOREA 66
8.4.4.1 Increase in disposable income drives the market 66
8.4.5 REST OF APAC 66
8.4.5.1 Increasing consumption of beauty products drives the market 66
8.5 MIDDLE EAST & AFRICA 67
8.5.1 TURKEY 69
8.5.1.1 Rise in disposable income of the middle-class population to drive the market. 69
8.5.2 UAE 69
8.5.2.1 The UAE to witness the highest growth in the natural fragrance market 69
8.5.3 SAUDI ARABIA 70
8.5.3.1 Higher penetration of premium products among the high-income population to boost the market 70
8.5.4 REST OF MIDDLE EAST & AFRICA 71
8.5.4.1 Increasing population and rise in middle-class income to drive the market 71
8.6 SOUTH AMERICA 71
8.6.1 BRAZIL 73
8.6.1.1 Growing population and increase in consumer spending drive the market 73
8.6.2 ARGENTINA 74
8.6.2.1 Argentina is the second-largest market for natural fragrances in South America 74
8.6.3 REST OF SOUTH AMERICA 75
8.6.3.1 Growth in demand for personal care & cosmetic products boosts the market 75
9 COMPETITIVE LANDSCAPE 76
9.1 OVERVIEW 76
9.2 COMPETITIVE LEADERSHIP MAPPING (OVERALL MARKET) 76
9.2.1 VISIONARY LEADERS 76
9.2.2 DYNAMIC DIFFERENTIATORS 76
9.2.3 EMERGING COMPANIES 76
9.2.4 INNOVATORS 76
9.3 STRENGTH OF PRODUCT PORTFOLIO 78
9.4 BUSINESS STRATEGY EXCELLENCE 78
9.5 COMPETITIVE LEADERSHIP MAPPING (SMSE) 79
9.5.1 PROGRESSIVE COMPANIES 79
9.5.2 RESPONSIVE COMPANIES 79
9.6 STRENGTH OF PRODUCT PORTFOLIO 80
9.7 BUSINESS STRATEGY EXCELLENCE 81
9.8 KEY MARKET PLAYERS 83
9.8.1 GIVAUDAN 83
9.8.2 FIRMENICH SA 83
9.8.3 INTERNATIONAL FLAVORS & FRAGRANCES 84
9.9 COMPETITIVE SITUATION AND TRENDS 84
9.9.1 EXPANSION 84
9.9.2 NEW PRODUCT LAUNCH 86
9.9.3 ACQUISITION 86
10 COMPANY PROFILES 88
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
10.1 GIVAUDAN SA 88
10.2 FIRMENICH SA 91
10.3 INTERNATIONAL FLAVORS & FRAGRANCES 93
10.4 SYMRISE AG 96
10.5 TAKASAGO INTERNATIONAL CORPORATION 99
10.6 MANE SA 101
10.7 ROBERTET SA 103
10.8 SENSIENT TECHNOLOGIES CORPORATION 104
10.9 T. HASEGAWA 105
10.10 BELL FLAVORS & FRAGRANCES 106
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
10.11 OTHER MARKET PLAYERS 107
10.11.1 HUABAO 107
10.11.2 OGAWA & CO., LTD 107
10.11.3 CPL AROMAS 107
10.11.4 KAO CHEMICALS EUROPE. S.L. 107
10.11.5 YINGYANG (CHINA) AROMA CHEMICAL GROUP 107
10.11.6 S H KELKAR AND COMPANY LIMITED 107
10.11.7 AARAV FRAGRANCES & FLAVORS 107
10.11.8 IBERCHEM 107
10.11.9 ALPHA AROMATICS 108
10.11.10 LA SCENTEUR FRAGRANCE 108
10.11.11 BIO AROMA 108
10.11.12 RISDON INTERNATIONAL 108
10.11.13 FRAGRANCE OILS (INTERNATIONAL) LTD. 108
10.11.14 EPS FRAGRANCES 108
10.11.15 DAUPER 108
11 APPENDIX 109
11.1 INSIGHTS FROM INDUSTRY EXPERTS 109
11.2 DISCUSSION GUIDE 110
11.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 112
11.4 AVAILABLE CUSTOMIZATIONS 114
11.5 RELATED REPORTS 114
11.6 AUTHOR DETAILS 115