Global Perfume Ingredient Chemicals Market Report and Forecast 2024-2032

Global Perfume Ingredient Chemicals Market Outlook 

The global market size for perfume ingredient chemicals reached a value of more than USD 5.41 billion in 2023. The global perfume ingredient chemicals market is expected to grow at a CAGR of 5.1% between 2024 and 2032, reaching a projected value of USD 8.46 billion by 2032.

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News and Developments in the Market 

In August 2021, the LANXESS specialty chemicals company acquired Emerald Kalama Chemical. It is a United States-based world-leading manufacturer company providing specialty chemicals. The purchase agreement was signed by LANXESS in February 2021, using liquid funds to finance the purchase price of around USD 1.04 billion .

In March 2023, Symrise AG submitted a binding offer to acquire 100% of high-end fragrances house R. Romani - Société Française d’Aromatiques. Further, the company submitted a binding offer for the full acquisition of Neroli Invest DL (Groupe Neroli). It intends to strengthen its fine fragrance presence in southern France, and supplement its competitiveness in the making of fragrance compositions as well as expand its presence in the perfume ingredient chemicals market in major economies in Europe, Africa, and the Middle East. 

In April 2021, Symrise AG reorganised its business with fragrances, cosmetic ingredients, and perfume compositions. The company further wants to strategically advance its various divisions to support its continued dynamic growth. Through optimised investments and processes, coupled with sustainable technologies, the company aims to strengthen profitability.

In November 2020, Symrise AG signed a purchase agreement to acquire the fragrance and aroma chemicals activities of Sensient Technologies Corporation, strengthening its presence in the perfume ingredient chemicals market. The acquisition adds a huge variety of aroma molecules as well as fragrances from natural and renewable sources to the Symrise portfolio. 

Key Trends in the Market

A perfume is referred to as a liquid mixture employed to produce a pleasant odour. It is produced from fragrant essential oils obtained from spices and plants or synthetic aromatic compounds. The fragrance comprises of a huge variety of ingredients employed to expose scent. Perfume ingredient chemicals are complicated combinations of synthetic and natural substances which are incorporated into products to give them a unique scent. Such ingredients include herbal as well as synthetic materials.

• The increasing awareness regarding the importance of these products among consumers is likely to aid the sales in the perfume ingredient chemicals market across the globe. Going further, the growing usage of herbal fragrances is one of the primary factors which is likely to contribute to the growth over the coming years. 

• Various market players are likely to expand their distribution network across the globe. Meanwhile, several new market players are working to produce innovative as well as sustainable flavouring ingredients through broad research and development activities. This is expected to propel the market growth for perfume ingredient chemicals.

• The rising popularity of aromatherapy in both developed, as well as emerging countries on account of the rising living standards of people are likely to push the natural aroma chemicals sales during the forecast period.

• Due to the surging awareness about the importance of these products among consumers, the perfume ingredient chemicals market sales are projected to driven by the surging demand for organic and natural products. 

• The rising shift of millennials from man-made chemicals toward healing and natural therapies is expected to bolster aroma chemicals sales. Moreover, the increasing depression, stress, and anxiety levels among people due to changing sleeping patterns along with other lifestyle complications are further anticipated to aid the perfume ingredient chemicals market demand in the aromatherapy industry.

Market Analysis

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Based on nature, the market can be segmented into aromatic chemicals, and essential oils, among others. Based on the end use, it can be categorised into home and laundry care, cosmetics and personal care, and fine fragrances. Among others. The regional markets for the perfume ingredient chemicals market can be divided into the Asia Pacific, North America, Europe, Latin America, the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global perfume ingredient chemicals market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Givaudan

• MANE Group

• Firmenich SA

• BASF SE

• International Flavors & Fragrances Inc

• Symrise AG

• Bordas S.A.

• Emerald Kalama Chemical

• Others

Market Share by Nature

With rapid urbanisation and the increase in demand for essential oil massage services in urban areas, the essential oil segment is expected to witness growth over the coming years, bolstering the perfume ingredient chemicals market. The growing concerns about acne scars along with similar other acne-related problems among both men and women are likely to boost the therapeutic-grade essential oils demand and fuel the natural aroma chemicals sales. Moreover, the surging number of massage centres along with spas in several parts of the world is further expected to spur segment growth. 

Market Share by End-Use

The growing consciousness about grooming along with the constantly evolving fashion trends are influencing the development of several fragrances and flavours by companies. This is to create unique as well as exciting fine fragrances to attract more consumers. Moreover, this is expected to hold significant growth in the perfume ingredients chemical market share across the globe during the forecast period. 

Going further, the rising disposable income among people and the rapid development of the e-commerce industry are some of the major aspects expected to enhance the natural aroma chemicals demand for fine fragrances. This is likely to propel the fine fragrance segment growth in the perfume ingredient chemicals market. 

Market Share by Region

Geographically, Europe is augmenting the perfume ingredients chemical market on account of the surging demand for fragrant personal care goods among consumers, especially in countries like Germany, Switzerland, and France. 

Meanwhile, the Asia Pacific region is expected to gain momentum over the upcoming years on account of the advanced standard of living along with the growing urban population and improved manufacturing facilities in the region. Further, the rising demand for fragrances among emerging economies in the region like India is likely to push forward the perfume ingredient chemicals market growth across the Asia Pacific.

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Competitive Landscape 

Givaudan specialises in products for taste, well-being,  fragrance, and beauty. The company offers consumers a wide variety of solutions that match customers’ needs for clean labels, and organic as well as natural ingredients in addition to being their creative partner of choice. Its value proposition reflects the purpose of the company, creating happier and healthier lives, with a love for nature. The company provides food experiences, craft inspired fragrances, and builds beauty and well-being solutions that help people to look and feel good.

MANE Group aims to transform the ideas of artists along with innovators into exclusive, fine fragrances. The company’s Fine Fragrances Creative Studios has reached into new aromatic territories, expanding some of the most exceptional as well as prestigious fragrances across the world by merging technology with creativity.

Firmenich SA is the largest privately-owned fragrance and taste company in the globe, with a strong presence in the perfume ingredient chemicals market. The company’s purpose is to generate positive emotions to increase well-being. It utilises science along with creativity to spread happiness, shape the future, and accelerate access to sanitation across the globe, while acknowledging nature and leading an ethical business.

BASF SE is passionate about supporting their client’s growth plans with a varied portfolio as one of the globe’s leading suppliers and manufacturers of high-class as well as creative aroma ingredients. It provides products in six scent varieties, which include in total more than 40 various products, catering to the perfume ingredient chemicals market.

International Flavors & Fragrances Inc. applies creativity and science and continually innovates to do it better as a global leader in food, health, beverage, biosciences, and sensorial experiences. The company is an international collective of thinkers who partner with consumers to bring products the world craves through quality and precision. 

Symrise AG provides premium quality ingredients and believes in sustainability with a commitment to the highest standards of ethical as well as sustainable sourcing of raw ingredients. It is a leading producer of fragrance raw materials through the aroma molecules division and the leading supplier of best active ingredients with their cosmetics ingredients separation. The company believes that as a leading producer, it needs to set and follow the highest standards for the entire industry.

 
Bordas S.A. started with the concentration of aromatic plants in a small warehouse in the heart of Seville in Spain, shaping the family business it now has today. With continuous advancements, it has expanded from the commercialisation and cultivation, as well as extraction of aromatic plants to other industries like the production of fruit by-products and the synthesis of chemical products for fragrances, the food industry, and pharmaceuticals.

Emerald Kalama Chemical is a cologne-based leading specialty chemicals company. The company’s aim is the manufacturing, marketing, and development of chemical intermediates, additives, and consumer protection products. It manages its operating business through four segments including advanced industrial intermediates, specialty additives, and consumer protection. 

Key Highlights of the Report