Global Natural Fragrance Chemicals Market: Overview
The aroma compounds that are obtained physically from the spices, plants, and fruits by procedures such as extraction, distillation, and expression are known as fragrance chemicals that are obtained naturally. These chemicals are highly preferred over the synthetic fragrance chemicals as it doesn’t contain any toxic substances, thus are highly preferred by the consumers that are health conscious. The cost of these natural fragrance chemicals are relatively high owing to its non-toxic nature and it also depends upon the aroma.
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Global Natural Fragrance Chemicals Market: Segmentation
The market for natural fragrance is fragmented into its product type, application, and end-user industry. Based on the product type, the market is segregated into natural fragrance chemicals that rare flower-based, musk-based, wood-based, spice-based, fruit-based, and others. Depending on the applications, the market is divided into cosmetics, room fresheners, medicine, beverage, detergent, floor cleaners, and others. According to the end user, the market is bifurcated into food and beverage industry, pharmaceutical industry, cosmetics industry, home and health care industries, and others.
Global Natural Fragrance Chemicals Market: Growth Factors
The key factor that is driving the natural fragrance chemicals market is the increasing awareness among the people about the harmful effects of the synthetic fragrance chemicals that are present in the products that are used daily. The other factors that are driving the natural fragrance chemicals market are increasing use of this product in various end-use industries such as cosmetics and food and beverages industry and the growing use of these products by the consumers owing to the promotions of these products which are made by the media. The growing disposable income of the people is also a factor that is driving the natural fragrance chemicals market. The factors that are restraining the market growth are the high cost of the products, the availability of the cheaper substitutes, and the extensive usage of the natural resources for the production of the natural fragrance chemicals will have an effect on the environment.
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Global Natural Fragrance Chemicals Market: Regional Analysis
Region-wise, the market for natural fragrance chemicals is diversified into North America, Asia-Pacific, Western Europe, Eastern Europe, the Middle East and Africa, and Latin America. The major market share for natural fragrance chemicals is estimated to be held by the European region, which is followed by Asia-Pacific and North America regions. The production and the consumption of the natural fragrance chemicals are significantly high in the European countries owing to the increasing demand for the products that contain natural fragrance chemicals and the presence of several popular market players in this region. In the coming years, Asia-Pacific will witness a robust market growth owing to the growing popularity of the natural fragrance chemicals in the emerging countries such as India and China.
Global Natural Fragrance Chemicals Market: Competitive Players
The key market players that are involved in the natural fragrance chemicals market include Givaudan, Sensient Technologies Corporation, International Flavors & Fragrances Inc., Symrise, Kerry Group Plc., Firmenich SA, Paris Fragrances USA, Takasago International Corporation, and Frutarom.
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Global Natural Fragrance Chemicals Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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