What Is The Current and Historic Market Size Analysis Of The Natural Fragrance Market?
The natural fragrance market has seen considerable growth due to a variety of factors.
• The increase in the size of the natural fragrance market has been rapid in recent time. It is predicted to escalate from $3.71 billion in 2024 to $4.1 billion in 2025, with a compound annual growth rate of 10.3%.
The expansion during the historical period is credited to the consumers' preference for natural goods, a shift towards eco-friendly and pure beauty, increased demand for personal care and cosmetic products, augmented personal grooming expenditure, and a robust demand for natural and organic goods.
What Are The Predictions for The Natural Fragrance Market in the Coming Years?
The natural fragrance market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of natural fragrance is projected to undergo significant expansion in the coming years, with an estimated value of $5.65 billion by 2029, compounded by an annual growth rate of 8.4%.
This growth during the forecasted timeframe can be linked to factors such as enhanced investment in R&D, digital overhaul in advertising approaches, growing appeal for aromatherapy, broadening of specialty and craftsman brands, and emphasis on openness and traceability. Key trends in the forecast period encompass breakthroughs in extraction methods, the proliferation of home fragrance and health products, the application of blockchain for enhanced traceability and transparency, strategic collaborations and partnerships, as well as biodegradable and eco-conscious packaging.
Which Drivers Are Accelerating Growth In The Natural Fragrance Market?
The natural fragrance market is experiencing growth, propelled by an increased interest in cosmetics and personal care products. These products, designed for personal hygiene, aesthetic improvement, and grooming, commonly incorporate natural fragrances due to their appealing smells, potential skin benefits, adaptability, and addition to a product's natural marketing appeal. The growing consumer demand is evidenced in a report by The Cosmetic, Toiletry, and Perfumery Association, based in the UK, which states that sales of color cosmetics escalated to 118,172,000 units in 2022 from 112,257,000 units in 2021, marked in May 2023. Thus, the expanding demand for cosmetics and personal care items is predicted to further stimulate the growth of the natural fragrance market.
What Are The Core Segments Of The Global Natural Fragrance Market?
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
Subsegments:
1) By Essential Oils: Citrus Oils, Floral Oils, Herbaceous Oils, Woody Oils, Spicy Oils
2) By Natural Extracts: Botanical Extracts, Fruit Extracts, Spice Extracts, Resins And Balsams, Absolutes
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How Are Emerging Trends Reshaping The Dynamics Of The Natural Fragrance Market?
Leading firms in the natural fragrances market are enhancing their position by creating innovative items like plant-derived fragrance oils. Natural fragrances with such oils offer superior quality, sustainable, and inventive fragrance products catering to customers looking for natural and environmentally friendly alternatives. For instance, in October 2023, Natural Sourcing LLC, a fragrance and perfumery manufacturing firm based in the US rolled out a range of fragrance oils made from plant-based sources, encompassing essential oils and extracts. These oils, obtained from raw botanical sources inclusive of essential oils, absolutes, extracts, and aromatic isolates, are perfectly suited for clean beauty, personal care, soap making, and home framing uses demanding budget-friendly fragrances, devoid of synthetic additives.
Who Are the Key Players In The Natural Fragrance Market?
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
What Are The Regional Insights Into The Natural Fragrance Market?
Europe was the largest region in the Natural Fragrance market in 2024. 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.
