Natural fragrance refers to complex formulations that contain aromatic raw materials derived only from nature, such as trees, fruits, animal extracts, herbs, leaves, seeds, roots, and diverse woods. These fragrances are used to impart pleasing scents to various products, including perfumes, colognes, cosmetics, personal care items, and household products.
Sizing and Forecast
The natural fragrance market size has grown rapidly in recent years. It will grow from $3.36 billion in 2023 to $3.71 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to consumer preference for natural products, shift towards clean and green beauty, rising demand for cosmetics and personal care products, increased per capita grooming spending, strong demand for natural and organic products.
The natural fragrance market size is expected to see strong growth in the next few years. It will grow to $5.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increased investment in research and development, digital transformation in marketing, rising interest in aromatherapy, expansion of niche and artisanal brands, focus on transparency and traceability. Major trends in the forecast period include innovations in extraction techniques, expansion of home fragrance and wellness products, blockchain for traceability and transparency, collaborations and partnerships, biodegradable and eco-friendly packaging.
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Segmentation & Regional Insights
The natural fragrance market covered in this report is segmented –
1) By Type : Essential Oils, Natural Extracts
2) By Source: Flower-Based, Fruit-Based, Spices, Wood, Other Sources
3) By Distribution Channel: Conventional Retail, Online Sales, Business-To-Business (B2B), Business-To-Business(B2B) Third Party (TP)
4) By Application: Fine Fragrances, Personal Care And Cosmetics, Household Care, Soap And Detergents, Other Fragrances
Europe was the largest region in the Natural Fragrance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the natural fragrance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for cosmetics and personal care products is driving the growth of the natural fragrance market. Cosmetics and personal care products encompass a wide range of consumer goods aimed at personal grooming, hygiene, and appearance enhancement. Natural fragrances are commonly used in personal care and cosmetics due to their pleasant scents, potential benefits to the skin, additional natural marketing image, versatility, and consumer demand. For instance, in May 2023, according to the report published by The Cosmetic, Toiletry, and Perfumery Association, a UK-based organization, the sales of color cosmetics reached 118,172,000 units in 2022, compared to 112,257,000 units in 2021. Therefore, rising demand for cosmetics and personal care products will propel the growth of the natural fragrance market going forward.
Key Industry Players
Major companies operating in the natural fragrance market report are International Flavors & Fragrances Inc., Givaudan SA, Firmenich SA, Symrise AG, Sensient Technologies Corporation, Robertet SA, T. Hasegawa Co., Ltd, Mane SA, CPL Aromas, Aroma-Zone, Fragrance Oils (International) Limited, Bell Flavors & Fragrances, Alpha Aromatics, Agilex Fragrances, Burt’s Bees, Citrus and Allied Essences Ltd., Primavera, Lebermuth Inc., Ungerer and Company, Royal Aroma, Aromatics International, Ogawa And Co. Ltd., Fine Fragrances Pvt. Ltd., Dauper SA, MJ Biopharm Pvt. Ltd
The natural fragrance market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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