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The natural fragrance market share is estimated to increase by USD 1.59 billion from 2020 to 2025, at a CAGR of 8.59%.
This market research report extensively covers natural fragrance market segmentations by the following:
This natural fragrance market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The natural fragrance market report offers information on several market vendors, including Bell Flavors and Fragrances Inc., Carrubba Inc., Firmenich SA, Givaudan SA, International Flavors and Fragrances Inc., Malee Natural Science Ltd., Robertet SA, Sensient Technologies Corp., Symrise AG, and Takasago International Corp. among others.
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The launch of new products containing natural fragrances is notably driving the natural fragrance market growth, although factors such as increasing restrictions regarding the use of products containing fragrances may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the natural fragrance industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Natural Fragrance Market Driver
The launch of new products containing natural products is one of the key drivers supporting natural fragrance market growth. The harmful effects of synthetic fragrances on the skin and overall human health are increasing the demand for natural fragrances in fine fragrance products among consumers. A majority of the ingredients used in synthetic fragrances are derived from petroleum products. The ingredients include benzene derivatives, aldehydes, toluene, and other known chemicals that are linked to cancer, congenital disabilities, central nervous system disorders, and allergic reactions in human beings. Thus, health issues caused by products in synthetic fragrances can support the growth of the global natural fragrance market during the forecast period.
Key Natural Fragrance Market Trend
Increasing online sales of products containing natural fragrances is another factor supporting the natural fragrance market growth. With the help of online retail stores, vendors can offer natural fragrances and attract the internet-savvy customer segment. Online platforms help them avoid huge investment costs in physical stores. The benefits offered by online stores may encourage more vendors to offer their products through online channels during the forecast period.
Thus, the growing emphasis on the online retailing of products containing natural fragrances may increase sales through online channels and influence the global natural fragrance market during the forecast period.
Key Natural Fragrance Market Challenge
The increasing restrictions regarding the use of products containing fragrances are hindering the natural fragrance market growth. The number of people suffering from fragrance allergies is increasing, and various offices and other public places have banned the use of products containing fragrances. For instance, Lake Washington Christian Church (LWCC), US, discourages people visiting the church from using perfume/cologne, aftershave, scented lotion, and body powder inside the building as a first step toward achieving a fragrance-free environment. Thus, restrictions on the use of products containing fragrances (including natural fragrances) in public places and campaigns against the use of fragrances use can hamper the growth of the natural fragrance market in focus during the forecast period.
This natural fragrance market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the natural fragrance market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the natural fragrance market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the natural fragrance market encompasses successful business strategies deployed by the key vendors. The natural fragrance market is fragmented and the vendors are deploying growth strategies such as price and quality to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The natural fragrance market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the natural fragrance market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the apparel, accessories, and luxury goods market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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32% of the market's growth will originate from Europe during the forecast period. US, UK, France, and Germany are the key markets for the natural fragrance market in Europe. Market growth in this region will be faster than the growth of the market in MEA.
Consumers are becoming aware of the health complications of using products containing synthetic fragrances and are focusing on reducing their use of such products. This will facilitate the natural fragrance market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 across Europe had a negative impact on various industries. This was due to the strict lockdowns imposed by the governments of various countries such as Germany, the UK, France, and Italy. In H2 2020, the factories, warehouses, and other facilities of regional vendors reopened. As a result, the local vendors could meet the demands of consumers. Further, trade restrictions were lifted by the regional governments. Thus, the rising demand for natural fragrances in the regional market will drive the growth of the regional natural fragrance market during the forecast period.
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The natural fragrance market share growth by the household care segment will be significant during the forecast period. Household care products include room fresheners, detergents, fabric softeners, room sprays, and scented candles. Thus, the increasing demand for natural scents among consumers is driving the use of natural fragrances in household care products.
This report provides an accurate prediction of the contribution of all the segments to the growth of the natural fragrance market size and actionable market insights on post COVID-19 impact on each segment.
Natural Fragrance Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Decelerate at a CAGR of 8.59% |
Market growth 2021-2025 |
$ 1.59 billion |
Market structure |
Fragmented |
YoY growth (%) |
9.72 |
Regional analysis |
Europe, North America, APAC, South America, and MEA |
Performing market contribution |
Europe at 32% |
Key consumer countries |
US, UK, France, Germany, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Bell Flavors and Fragrances Inc., Carrubba Inc., Firmenich SA, Givaudan SA, International Flavors and Fragrances Inc., Malee Natural Science Ltd., Robertet SA, Sensient Technologies Corp., Symrise AG, and Takasago International Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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