Global Natural Fragrance Market Report and Forecast 2023-2028

Global Natural Fragrance Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global natural fragrance market reached a value of USD 26.67 billion in 2022. Aided by the rising consumer inclination towards eco-friendly and chemical-free products, coupled with the expanding applications of natural fragrances in diverse sectors, the market is projected to further grow at a CAGR of 4.6% between 2023 and 2028 to reach a value of USD 34.93 billion by 2028.

Natural fragrances are extracts derived directly from flowers, spices, fruits, and resins. Unlike their synthetic counterparts, which are concocted from chemical compounds, natural fragrances are perceived as more authentic, organic, and benign. They hold a revered spot in personal care, perfumes, detergents, and an array of other sectors. Aside from their aromatic prowess, these fragrances also carry therapeutic properties, used traditionally in practices like aromatherapy and holistic wellness. Their innate organic nature is a huge draw for eco-conscious consumers, reflecting a tilt towards green consumerism.

The escalation in demand for natural and organic beauty products is a seminal force driving the global natural fragrance market growth. Modern consumers, empowered by the digital age's knowledge dissemination, have become discerning about ingredient lists, showing a marked preference for products devoid of parabens, sulphates, and other synthetic additives. Natural fragrances, with their organic extraction processes, cater perfectly to this discernment, further propelled by endorsements from celebrities and influencers who champion clean beauty.

According to the natural fragrance market analysis, the trend of 'wellness from within' has led to a surge in the popularity of aromatherapy, wherein essential oils with natural fragrances play a pivotal role. These fragrances, when inhaled, are believed to stimulate functions of the brain, thereby influencing physical, emotional, and mental health. The lavender fragrance, for instance, is associated with relaxation and sleep improvement. This therapeutic association of natural fragrances has opened up new avenues of demand, particularly in regions with increased stress levels and mental health concerns.

Moreover, sustainability, a buzzword of the modern age, has significant implications for the natural fragrance market. As consumers become progressively eco-conscious, there's a drift towards products that are not only good for the individual but also for the planet. Natural fragrances, often sourced sustainably and with ethical practices, fit this mould perfectly, and their biodegradability further augments their market appeal.

The natural fragrance market outlook is influenced by innovations. Advancements in extraction technologies, combined with research into mixology, are creating natural fragrances that can rival synthetic ones in intensity and longevity. Moreover, brand narratives built around ethical sourcing, artisanal production, and sustainable practices are striking a chord with the millennial and Gen Z demographics, ensuring a sustained market interest.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

• Flowers
• Fruits
• Musk
• Wood
• Spice
• Others

Market Breakup by Application

• Soap and Detergents
• Cosmetics and Toiletries
• Fine Fragrances
• Household Cleaners and Air Fresheners
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global natural fragrance market. Some of the major players explored in the report by Expert Market Research are as follows:

• Givaudan SA
• Firmenich SA
• International Flavors & Fragrances, Inc.
• Symrise AG
• Wild Flavors, Inc.
• Takasago International Corp.
• Mane SA
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.