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Global Natural Fragrance Ingredients Market is expected to be worth US$5.3 Bn by 2024, Says TMR

Rising Standards of Living to Boost Natural Fragrance Ingredients Market

Albany, New York, Nov. 19, 2018 (GLOBE NEWSWIRE) -- The Global Natural Fragrance Ingredients Market is anticipated to see healthy growth in the years to come, according to a report by Transparency Market Research (TMR). With a fragmented vendor landscape, there are estimated to be a large pool of vendors in the market vying for attention of the consumers. The global natural fragrance ingredients market is marked by stiff competition among the vendors. Players are expected to compete on the basis of parameters such as use of organic and organically-derived scents, imbibing advanced technological innovations in their products, while offering a distinguished product portfolio.

Some of the leading vendors in the global natural fragrance ingredients market include Firmenich SA, Huabao Intl., Takasago International, International Flavors and Fragrances, and Symrise AG. IFF, Symrise, Givuadan, and Firmenich are evaluated to hold nearly 57% of the total market share as noted in 2015.

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According to TMR’s analysis, the Global Natural Fragrance Ingredients Market was estimated to be worth US$3.3 bn in 2015. By 2024, the market is prognosticated to rise to US$5.3 bn. Over the forecast period 2016 to 2024, the global natural fragrance ingredients market is predicted to exhibit a 5.8% CAGR.

With a high demand for daily essential cosmetics such as hair oil, soap, creams, etc. the application segment of household care is expected to generate prominent demand in the global natural ingredients market. Geography-wise, Europe is expected to remain a dominant regional market over the period of forecast.

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Growing Awareness towards Personal Grooming to Augment Sales in Market

Surge in consumer spending on close to personal care and luxury products is expected to be one of the huge purposes behind the rising development of perfumery products, which, thusly, is predicted to raise the utilization of fragrance ingredients over the coming years. Market entrance in youthful groups alongside developing utilization of personal grooming products is foreseen to have an uplifting point of view toward product demand.

Surge in demand for natural fragrances and changing purchaser inclinations towards sweet-smelling beauty care products and personal care items is predicted to push fragrance ingredients market development. Furthermore, expanding interest for fragrances, for example, scents, deos and antiperspirants, especially from developing economies of Asia Pacific and Latin America is predicted to enlarge market development over the forthcoming years.

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Surge in Demand for Organic Ingredients to Boost Opportunity

Acknowledgment of natural ingredients to build quality and decline tainting bolstered by meeting predicted determination may support fragrance ingredients market growth. Developing use of natural products in the manufacture of scents, cleansers, antiperspirants, does and hair oils is anticipated to support fragrant ingredients market demand. Changing buyer inclinations towards natural products because of their skin friendly properties and innovative progressions may drive the fragrance ingredients market request over the forthcoming years. These are expected to be key factors adding to expanded interest for natural fragrance ingredients over its synthetic options. This thus, is expected to provide a plethora of growth opportunities to vendors in the global natural fragrance ingredients market over the coming years.

Changing trends towards customized makeup products bolstered by broad interest in research to produce specific merchandise will add to market development.

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Consistency ingredients and steep prices of natural ingredients may hamper industry growth to some extent, along these lines influencing fragrance ingredients industry value patterns. Serious Stringent guidelines by EU and FDA confining use of engineered constituents may limit by the growth of the natural fragrances ingredients market to some extent.

This review is based on TMR’s report titled, “Natural Fragrance Ingredients Market (Product - Flower Based, Wood Based, Musk Based, Fruit Based, and Spice Based; Application: Household Care and Cosmetics) - Global Industry Analysis, Trend, Size, Share and Forecast 2016 - 2024.”

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The Global Natural Fragrance Ingredients Market has been segmented as follows.

Global Natural Fragrance Ingredients Market, By Product Type

  • Flower Based
  • Wood Based
  • Musk Based
  • Fruit Based
  • Spice Based
  • Others (Grass)

Global Natural Fragrance Ingredients Market, By Application

  • Household Care
  • Cosmetics

Global Natural Fragrance Ingredients Market, By Geography

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    •  U.K.
    • Germany
    • Italy
    • France
    • RoE (Rest of Europe)
  • Asia Pacific
    • India
    • Japan
    • China
    • RAPAC (Rest of Asia Pacific)
  • Middle East and Africa (MEA)
    • U.A.E
    • South Africa
    • RMEA (Rest of Middle East and Africa)

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Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

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