Fragrance Ingredients Market to surpass $18.5bn by 2024 Fragrance Ingredients Market | Page 3

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.
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 R&D for making effective ingredients. Companies are spending
more on Innovation, product design, commercialization and manufacturing phases
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