The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Natural Fragrance market is likely to witness a CAGR of 9.8% during the forecast period. The major factor that is driving the natural fragrance market is the increasing penetration of natural fragrance in fine fragrance, personal care & cosmetics, and household care products.
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Segment Analysis
Natural Fragrance Market Share: By Ingredient Type
Based on the ingredient type, the market is segmented as essential oils and natural extracts. The essential oil segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. Growing demand for natural products and increasing consumer spending power are the major factors driving the natural fragrance market.
Natural Fragrance Market Share: By Application Type
Based on the application type, the market is segmented as fine fragrance, personal care & cosmetics, and household care. Fine fragrance application dominated the market in 2019 and is expected to maintain its position during the forecast period. Fine fragrance is increasingly used in perfumes, colognes, and deodorants.
Natural Fragrance Market Share: By Region
In terms of regions, Europe is estimated to be the largest market for natural fragrance during the forecast period. Presence of a large number of natural fragrance suppliers, presence of a fair number of personal care & cosmetic brands in the region, and huge consumer base are the major factors behind the dominance of the region in the global market.
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