The Fragrances Market is being driven by Growing demand for cosmetic products
The Fragrances Market is expected to grow at a CAGR of 5.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 16.06 billion. The fragrances market is witnessing a significant shift towards natural ingredients, as opposed to synthetic aroma chemicals. This trend can be attributed to the increasing consumer awareness of the potential skin irritations and health concerns associated with synthetic fragrances. For instance, in the beauty and personal care sector, fragrances used in deodorants, hair oils, perfumes, and detergents can cause skin irritations when applied directly. In response to this concern, companies are innovating with natural alternatives. For example, in April 2024, Givaudan SA launched Silk-iCare, a vegan silk protein designed to protect and repair the skin. This groundbreaking innovation underscores the industry's move towards natural ingredients that are gentler on the skin. Consequently, the demand for natural fragrances is projected to surpass that of synthetic chemicals in the coming years.
Get more information on Fragrances Market by requesting a sample report
The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
233 |
|
Base year |
2024 |
|
Historic period |
2019-2023 |
|
Forecast period |
2025-2029 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
|
Market growth 2025-2029 |
USD 16.06 billion |
|
Market structure |
market_structure.ucfirst |
|
YoY growth 2024-2025(%) |
5.0 |
|
Key countries |
US, China, UK, Canada, Japan, Germany, India, France, Italy, and The Netherlands |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The fragrance market encompasses a wide range of offerings, from spray bottles to immersive olfactory experiences. Scent profiles and memories are at the heart of fragrance appeal, but olfactory fatigue and sensitivity can impact enjoyment. The fragrance pyramid and wheel help categorize scents, while technology delivers digital and virtual fragrance experiences. Ethical sourcing, sustainability, and safety are key considerations, with certifications and regulations ensuring quality and transparency. Bio-based and natural ingredients, fragrance layering, and scent pairing add depth to fragrance collections, which can evoke moods, lifestyles, and occasions. Fragrance education and certification programs help consumers navigate the complex world of fragrances, while fragrance allergies and sensitivities necessitate safety precautions. Fragrance technology continues to advance, with innovations in fragrance delivery, scent therapy, and fragrance recycling.
The global diversified chemicals market encompasses businesses producing a broad spectrum of chemical products, excluding those categorized under industrial gases, commodity chemicals, specialty chemicals, fertilizers, and agricultural chemicals. According to Technavio, market size is determined by the consolidated revenue generated by manufacturers of assorted chemical product lines. Key growth drivers for the global diversified chemicals market include burgeoning demand from emerging economies, such as China, Brazil, Indonesia, and India. These nations offer enticing incentives, including government initiatives, affordable labor, ample land, and minimal transportation expenses, prompting numerous diversified chemicals manufacturers to establish operations there.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
