What is the future of Natural Fragrance Market? Know Covid Impact on
Size, Share & Forecasts

Mar 18,2021/IndustryNewsGlobal/ The unexpected shifts in the global
markets because of the sudden outbreak of the COVID-19 virus have brought many
major and minor tremors to industries of all sizes including the Natural
Fragrance Market.

It was estimated prior to this unanticipated
outbreak that the Natural Fragrance Market was expected to grow at a CAGR of 9.8%
during the forecast period. However, the gradual slowing down of industries
will undoubtedly impose limits on the previously estimated growth rate.

Natural fragrance is extracted
primarily from natural ingredients such as plant essential oils, essential oil
blends or blends that contain naturally derived plant isolates. They are
obtained through distillation, CO₂ extractions, cold pressing,
and fermentations. On the basis of ingredients used, they can be categorized as
essential oils and natural extracts. They are widely used in personal care and
household products as consumers are demanding for more of natural-based
products.

This 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.

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.

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.

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.

Asia-Pacific is
expected to be the fastest-growing market during the forecast period. Significant
economic development in the Asia-Pacific region, growing spending power of consumer,
and rapid urbanization, are the major factors driving the growth of the
Asia-Pacific’s natural fragrance market. North America is also expected to
offer significant growth opportunity during the forecast period.

Key Players:

Some of the major Natural
Fragrance manufacturers are-

• Givaudan SA


• Firmenich SA


• International Flavors & Fragrances


• Symrise AG


• Takasago International
  Corporation


• Mane SA


• Robertet SA


• Sensient Technologies
  Corporation


• T. Hasegawa Co., Ltd.


• Bell Flavors & Fragrances.