Innovative end-use applications across various industries such as food & beverage, healthcare, and personal care increase the demand for perfume ingredient chemicals during the forecast period.
ROCKVILLE, MD / ACCESSWIRE / March 23, 2020 / The global perfume ingredient chemicals market will grow at a healthy 5% CAGR during the forecast period (2019-2029). Propagating end uses in food & beverage, and personal care offer sustainable growth opportunities for market players. Consumer trends such as preference of herbal cosmetic products over conventional personal care will drive the perfume ingredient chemicals market, reveals Fact.MR in its new study.
"R&D of products that are tailor made for specific end uses is a profitable differentiating strategy adopted by major players. The competitive landscape of the market is highly fragmented, with remunerative opportunities particularly in developing countries," concludes the Fact.MR report.
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Perfume Ingredient Chemicals Market - Key Takeaways
- Global perfume ingredient chemicals market is expected to generate value prospects of over US$ 3 Bn during the forecast period.
- Demand for perfume ingredient chemicals in personal care applications will grow 1.5X during the projection period.
- Fine fragrances such as premium perfumes are expected to offer a billion-dollar revenue opportunity through 2029.
- Synthetic oil holds a majority market value share by product type.
- Western Europe accounts for over 1/4th of total market value.
- Asia Pacific offers the most lucrative growth opportunities from 2019 to 2029.
Perfume Ingredient Chemicals Market - Key Driving Factors
- Increasing demand for natural fragrances coupled with enhanced performance standards will drive product demand.
- The rise in disposable income of millennial customers will propel the demand form the laundry care segment.
- The high cost of producing non-GMO perfume ingredients will increase the demand for synthetic perfume ingredients.
- Consumer trends such as vegan and plant-based lifestyles further the demand for perfume ingredient chemicals in personal care and healthcare products.
Explore the complete perfume ingredient chemicals market report with detailed market segmentation, 81 illustrative figures, and 60 data tables at - https://www.factmr.com/report/4557/perfume-ingredient-chemicals-market
Perfume Ingredient Chemicals Market - Key Constraint
Dependency of manufacturing processes on petro-chemical feedstock coupled with surging raw material prices act as key restraint for the perfume ingredient chemicals market.
Competition Landscape
The global perfume ingredient chemicals market is fragmented with increasing presence of new entrants and revenue growth in small and medium enterprises. Major players are targeting capacity expansion and enhancement of product portfolio via strategic partnerships with value chain stakeholders such as raw material vendors, organic product manufacturers. Organizations that may shape the competitive landscape are, but not limited to, Sensient Technologies Corporation, BASF SE, Eternis Fine Chemicals, YingYang (China) Aroma Chemical Group, KDAC CHEM Pvt. Ltd., and Frutarom and Harmony Organics Pvt. Ltd.
About the Report
This 170-page study offers readers a comprehensive market forecast of the perfume ingredient chemicals market. Global, regional and country level analysis of the latest industry trends impacting the perfume ingredient chemicals market are covered in this Fact.MR study. The report offers compelling insights on perfume ingredient chemicals market on the basis of product type (Synthetic (alcohol, esters, ethers, ketones, and others), and essential oil (orange, citronella, peppermint, eucalyptus, and others)), by application (fine fragrance, home care, personal care, laundry care, cosmetics, and others), and across six regions (Middle East and Africa, South Asia & Oceania, East Asia, Europe, Latin America, North America).
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SOURCE: FactMR