Market Overview
Fragrances refer to composite blend of synthetic and/or natural ingredients which are added to the product in order to provide a unique smell. Natural fragrances comprise of natural aromatic raw materials such as essential oils, fractions of essential oils, isolates, and exudates such as resins, distillates, extracts and volatile concentrates that are extracted from natural botanical sources. Natural fragrances are gaining traction with the increase in demand for personal care and other consumer products.
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Competitive Landscape
The Major Key Players in the Natural fragrances Industry are
- Givaudan SA (Switzerland)
- Firmenich SA (Switzerland)
- Symrise AG (Germany)
- International Flavors and Fragrance (U.S.)
- Sensient Flavors and Fragrances (U.S.)
- Takasago International (Japan)
- Hasegawa Co., Ltd (Japan)
Market Segmentation
Segmentation The global Natural fragrances Industry has been segmented based on source, application, and region. By source, the global natural fragrances market has been classified as flower-based, fruit-based, spices, wood, and others. The fruit-based segment is expected to garner the largest revenue share and also is expected to be the fastest-growing segment in the global natural fragrances market. By application, the global natural fragrances market has also been segregated into fine fragrances, cosmetics, food & beverages, toiletries & detergents, and others. The fine fragrances segment is expected to gain the highest revenue share of the global Natural fragrances Industry.
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Regional Analysis
The Global Natural fragrances Industry is segmented into North America, Europe, Asia Pacific, and the rest of the world (RoW). Among these, Europe region is expected to retain its dominance throughout the forecast period of 2017-2023. The growth in Europe is attributed to the massive awareness of cosmetic products among the consumers. Also, the increasing marketing campaign in European countries is expected to upsurge the demand of natural fragrances product in the European countries during the forecast period of 2017-2023. North America is also estimated to account for more than one fourth of the market proportion in the global natural fragrances market. Among the North America, U.S. is estimated to account for the maximum market proportion in the global natural fragrances market. Asia Pacific region is projected to grow at a fast pace during the forecast period of 2017-2023.
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