The global perfume ingredient chemicals market is expected to exceed US$ 6.7 billion in 2022. The market is expected to reach US$ 8.9 billion by 2027, growing at a robust 5.7% CAGR.
The increased demand for natural and organic products, as customers become more aware of the importance of such items, is expected to drive sales in this market. Another factor that is anticipated to contribute to this rise in the near future is the trend of using natural perfumes.
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Global Perfume Ingredient Chemicals Market: Restraints
- High cost of raw materials and lack of low tier manufacturing
- Low awareness of greener products and low production growth
- High cost of extracting raw ingredients and expensive research & development programmes
- Raw material price fluctuations and high cost of petroleum based fuels
- Growing concerns regarding the harmful effects of using aggressive ingredients
Global Perfume Ingredient Chemicals Market: Forecast by Application
On the basis of application, the global perfume ingredient chemicals market is segmented into fine fragrance, home care, laundry care, personal care, cosmetics, and others. The fine fragrance segment accounted for a significant market value share of 22.3% in 2022, followed by the personal care segment. The personal care segment is expected to remain dominant till 2027. This segment is also expected to remain the most lucrative during the forecast period.
Global Perfume Ingredient Chemicals Market: Forecast by Product Type
Product type segmentation comprises synthetic aroma chemicals and essential oils. Synthetic aroma chemicals segment is further segmented into alcohols, esters, ethers, ketone, and others. Essential oils segment is sub-segmented into orange, citronella, peppermint, eucalyptus and others. Synthetic aroma chemicals segment is anticipated to witness the highest value CAGR of 5.7% in the global perfume ingredient chemicals market. Cost factor is expected to move market players to adopt synthetic products; further, a global trend towards green products is expected to create lucrative opportunities for manufacturers of essential oils owing to a growing consumer preference for herbal products.
Global Perfume Ingredient Chemicals Market: Forecast by Region
Asia Pacific is estimated to be the most lucrative regional market in terms of revenue generation in the global perfume ingredient chemicals market, valued at US$ 1,198.0 Mn in 2022 and is expected to expand at a CAGR of 6.2% over the forecast period. Within the Asia Pacific, China & India are expected to remain in a dominant position for perfume ingredient chemicals demand. In terms of growth, following the Asia Pacific are several European countries such as Italy, France, and U.K. A noteworthy increase in sales in other developing markets such as Brazil, Russia, Turkey, GCC countries and South Africa is anticipated over the forecast period.
Global Perfume Ingredient Chemicals Market: Key Players
Sensient Technologies Corporation, BASF SE, Eternis Fine Chemicals, YingYang (China) Aroma Chemical Group, KDAC CHEM Pvt. Ltd., Frutarom Harmony Organics Pvt. Ltd., Atul Ltd, GODAVARI BIOREFINERIES LTD, Givuadan Firmenich, International Flavors and Fragrances Inc., Symrise, Takasago International Corporation, MANA SE, Robertet SA, T. Hasegawa USA, Huabao International Holdings Limited, Zhejiang, Xinhua Chemical Co., Ltd, Henkel AG & Co KGaA ADR, and Charkit Chemical Company LLC are some of the leading companies operating in the global market that have been profiled in this report.
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Perfume Ingredient Chemicals Market by Category
By Product Type:
- Synthetic Aroma Chemicals
- Alcohol
- Esters
- Ethers
- Ketone
- Others (Thiols, Dienals, etc.)
- Essential Oils
- Orange
- Citronella
- Peppermint
- Eucalyptus
- Others (Rose, Sandalwood,Orange etc.)
By Application:
- Fine Fragrance
- Home Care
- Laundry Care
- Personal Care
- Cosmetics
- Others
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