Global Fine Fragrances Market By Ingredient (Synthetic, Natural), Applications (Spray perfumes, Body Care, Home Care, Cosmetics, Soaps & Detergents and Incense) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Fine Fragrances Market
Global fine fragrances market is expected to register a steady CAGR of 3.8% in the forecast period of 2019-2026. The high growth of this market is due to the increasing consumer preference toward convenience foods.
Market Definition: Global Fine Fragrances Market
Fragrance is defined as a smell, or a mixture of different chemicals which provides a sweet aroma. The fragrance is majorly used in the consumer products which attract the consumers to purchase those products. They are used for external purposes such as spray perfumes, home care and cosmetics.
- Increase in demand for consumer products is driving the market growth
- Increasing demand for natural flavors and fragrances drives the growth of the market
- Rising demand for ready-to-eat and convenience foods is propelling the market growth
- Increasing consumer disposable income along with rapid industrialization act also act as a market driver
- Compliance with quality and regulatory standards is hindering the market growth
- Numerous arable lands have also been transformed into monoculture farming lands to nurture a single crop or plant gain a particular oil is restricting the market growth
Segmentation: Global Fine Fragrances Market
- Spray Perfumes
- Body Care
- Home Care
- Soaps & Detergents
- North America
- South America
- Rest of South America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In 2019, Givaudan has acquired Drom so that they can expand its presence and become leader in the global fragrances market and deliver a valuable proposition to its customers
- In January 2019, International Flavors & Fragrances Inc. acquired 60% of the shares of Mighty CO. LTD. who is a leading savory solutions provider in Thailand so that the company can continue its strategy growth in Southeast Asia
Global fine fragrances market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of fine fragrances market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global fine fragrances market are Givaudan, International Flavors & Fragrances Inc., Firmenich SA, MANE, Symrise, Takasago Electric, Inc., Robertet SA, Amway, The Estée Lauder Companies Inc., Coty Inc., Church & Dwight Co., Inc., Avon Products, Inc, Clarins, CavinKare Group, T.Hasegawa Inc. among others.
Research Methodology: Global Fine Fragrances Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved