Natural Fragrances Market Analysis 2020: Opportunities and Challenges, Forecast

Posted by Mangesh Mahajan on March 12th, 2020

Market Analysis

Natural Fragrances Market is anticipated to touch USD 20.8 billion at a 5.2% CAGR between 2019-2024, states the new Market Research Future (MRFR) report. Natural fragrances, simply put, are complex fragrance compounds that are exclusively made from natural aromatics. The ingredients used can be absolutes, concretes, fractions, distillates, oleoresins, essential oils, and others. These ingredients come from various natural sources. Natural fragrance oils have an extensive range of applications, including Tiki lamps, kerosene, light rings, potpourri, cologne, massage oils, aromatherapy, lotion, conditioner, shampoo, soap, candles, and any application that needs an oil-soluble fragrance. 

Numerous factors are adding to the growth of the global natural fragrances market. These factors, according to the latest Market Research Future report, include growing demand for clean labeled products, increasing health issues resulting from synthetic fragrances, rapid industrialization and urbanization, increasing consumer preference for natural body fragrance made with best natural fragrance oils, and changing lifestyle. Besides, the use of organic fragrance oils in different applications, including household care, personal care and cosmetics, and fine fragrances, are also adding to the market growth. 

On the contrary, the high production cost of natural fragrance or organic fragrances, high cost of research and development, stringent regulations, presence of counterfeit ingredients, and increasing restrictions on the use of products having fragrance are factors that may hamper the global natural fragrances market growth during the forecast period. 

Market Segmentation

The Market Research Future report provides a complete segmental analysis of the global natural fragrances market based on application and source. 

By source, the Global Natural Fragrances Market Analysis is segmented into wood, spices, fruit-based, flower-based, and others. Of these, the fruit-based segment will dominate the market during the forecast period. 

By application, the global natural fragrances market is segmented into toiletries and detergents, food and beverages, cosmetics, fine fragrances, and others. Among these, the fine fragrances segment will have the maximum share in the market during the forecast period. Meanwhile, the demand for the cosmetic segment is also on the rise for consumer's preference towards cosmetic products that contain natural ingredients. 

Regional Analysis

By region, the global natural fragrances market report covers the latest trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, Europe will have the largest share in the natural fragrances market during the forecast period for the increasing awareness of cosmetics among consumers, coupled with a rising marketing campaign in the region. 

The natural fragrances market in North America is predicted to have favorable growth during the forecast period. The US is the leading contributor in the region. 

The natural fragrances market in the APAC region is projected to grow at the fastest pace over the forecast period. 

The natural fragrances market in the RoW will have steady growth during the forecast period. 

Key Players

·         BMV Fragrances Private Limited

·         Natural Fragrance Company Ltd.

·         Akay Group Ltd.

·         Ungerer and Company

·         Bell Flavors & Fragrances

·         Robertet SA

·         Mane SA

·         T.Hasegawa Co.Ltd

·         Takasago International

·         Sensient Technologies Corporation

·         International Flavours and Fragrance

·         Symrise AG

·         Firmenich SA

·         Givaudan SA

Industry News

July 2019: Leading genderless and natural fragrance brand, Sigil offers sophisticated handmade fragrances that are complex and rich sans encompassing fillers and artificial additives. The natural ingredients used in these scents are delicate and layered. They melt into the wearer’s skin as well as resurface anew while they wear them. The desire to emphasize the beauty of natural materials and plants inspires the efforts of Kelly, the brainchild of Sigil. The specialty of his collection is that it contains an organic alcohol base that is made with sugar cane while its other ingredients include herbs, plants, and flowers that are gathered by hand. A little of this formula will go a long way as these are concentrated.