Impact Assessment of COVID-19 Outbreak on Natural Fragrance Chemicals Market

Natural Fragrance Chemicals Market

Natural fragrance chemicals are aroma compounds physically received from plants, fruits, and spices through extraction, distillation, and expression. Fragrance chemicals that are obtained through natural resources are called natural fragrance chemicals. These naturally obtained chemical substances do not include any levels of toxicity. Natural fragrance chemicals are preferred over synthetic fragrance chemicals due to the rise in consumer awareness about the benefits of using natural products. However, these chemicals are expensive compared to synthetic fragrance chemicals. Also, they possess non-toxic properties.

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Natural Fragrance Chemicals Market: Drivers and Restraints

Demand for natural fragrance chemicals is expected to rise, due to the rise in trend of using natural-based ingredients, especially in personal care and other consumer products. Natural fragrance chemicals are intensely associated with product identity due to their capability to trigger emotions. Therefore, it is one of the primary reasons that directly affects consumer inclination toward natural fragrance chemical based cosmetic and personal care products. This shift in consumer preference toward naturally obtained fragrances is anticipated to drive the natural fragrance chemicals market during the forecast period. Implementation of government regulations on synthetic products is anticipated to boost the natural fragrance chemicals market during the next few years. However, the usage of synthetic fragrance chemicals for large volume applications, which offer relatively better performance with lower cost, is expected to hamper the natural fragrance chemicals market during the forecast period.

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Natural Fragrance Chemicals Market: Segmentation

Based on type, the natural fragrance chemicals market can be segmented into:

  • Essential Oils
  • Oleoresins
  • Distillates
  • Fractions
  • Others (Absolutes, etc.)

Almost all natural fragrance are physically acquired from plants without modifying their chemical structures. Natural fragrance chemicals can be obtained from several natural sources. For instance, a natural apricot scent may comprise natural aromatics from a range of plants (excluding apricot).

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Natural Fragrance Chemicals Market: Region-wise Outlook

In terms of geography, the global natural fragrance chemicals market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe held substantial share of the global natural fragrance chemicals market due to the increase in consumption of natural-ingredients based personal care products. The region is also anticipated to benefit from the presence of numerous leading players. The natural fragrance chemicals market in Asia Pacific is also expected to witness rapid growth in the next few years due to the rise in disposable income of consumers, especially in emerging economies such as China and India. Increase in demand for personal care and household products is also projected to boost the natural fragrance chemicals market in Asia Pacific in the near future.

Natural Fragrance Chemicals Market: Key Players

Key players operating in the natural fragrance chemicals market include:

  • Symrise AG
  • Takasago International
  • Firmenich SA
  • Givaudan SA
  • Huabao Intl.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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