Global Fragrance Ingredients Market to surpass $18.5bn by 2024

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Fragrance Ingredients Market to surpass 18.5bn
by 2024 Global Market Insights Inc.
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Industry Overview

• Fragrance Ingredients Market to surpass USD 18.5
  billion by 2024 driven by growing fragrance
  market and increasing export of cosmetics
  product. Growing penetration rate of
  international brands, rising demand for personal
  care products along with growth in cosmetics
  industry will drive overall fragrance ingredients
  market demand. These compounds are mixed with
  personal care products to improve aroma and give
  freshness to a product. Growing customer spending
  on beauty products including creams and perfumes
  supported by growing ageing population may boost
  industry growth.
• Advantageous government policies regarding use of
  natural ingredients along with strong RD
  assistance on ingredients production is likely to
  promote product demand. Additionally, supportive
  governing amendments by European Union related to
  the use safe chemicals in the region may act as
  crucial contributing aspect towards the growth of
  fragrance ingredients market.
• Global fragrance ingredients market size from
  soaps detergents application is estimated to
  reach 500 kilo tons by 2024. Synthetic products
  including aldehydes, alcohols and esters has
  extensive use in household and industrial
  detergents used for dish washing, clothes
  washing, hair and body washing, and hard surface
  cleaning, which is likely to stimulate product
  demand.

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• New product formulations and demand for herbal
  and organic ingredients in personal care products
  is projected to drive the regional fragrance
  ingredients market over forecast timeframe.
  Expanding economic standards along with growing
  awareness about grooming and personal hygiene are
  likely to boost market growth.
• Global fragrance ingredients market size from
  wood-based application is poised to exceed USD
  750 million by 2024. These products provide
  warmth and depth aroma along with natural
  sensuality. Woody element in the product gives
  long lasting and musky smell, which may favor
  product demand.
• Fragrance ingredients manufacturers are replacing
  synthetic constituents with effective and safer
  product like fruits, flower and spice. Although,
  price of substitutes is reasonably higher,
  consumers are prepared to spend extra on
  non-toxic products, thus propelling industry
  growth.
• High cost of natural ingredients owing to capital
  intensive production process may distress
  fragrance ingredients market price trends. Severe
  regulatory standards pertaining to use of
  synthetic chemicals may incur additional
  compliance cost, thus affecting industry
  profitability.

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Fragrance Ingredient Market

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U.S. Synthetic Fragrance Ingredients Market Size,
By Product, 2017 2024, (Kilo Tons)

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Industry Coverage

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• Germany alcohols-based fragrance ingredients
  market size is likely to reach 30 kilo tons owing
  to its usage in anti-aging cremes, shampoos and
  sunscreen lotions and conditioners. These
  products have similar features as natural
  products due to high effectiveness and its
  application in wide range of perfume products is
  likely to enhance product demand.
• China fragrance ingredients market demand from
  toiletries application may witness significant
  growth of over 6 in projected timeline. Growing
  living standard of consumers along with making
  these products more presentable will boost
  overall market for fragrance ingredients in this
  region.
• Fragrance ingredients market is competitive and
  fragmented with key industry precipitants
  includes Ventos, Firmenich, Frutarom, BASF SE,
  Givaudan, Symrise, Vogele, and Treatt. Growing
  consumption of perfumes has impelled manufacturer
  to profoundly invest in RD for making effective
  ingredients. Companies are spending more on
  Innovation, product design, commercialization and
  manufacturing phases

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