The aromatic components from a variety of fruits, flowers, spices, nuts, and other items are isolated to create fragrance concentrates. Diverse techniques, including solvent extraction, distillation, sieving, and enfleurage, are used in the separation process. Chemical reactions are used to create synthetic or artificial fragrance concentrates, which have scents based on their molecular structures.
Despite synthetic aroma concentrates being less expensive, demand for natural and organic materials is growing as customer attitudes change. Air fresheners, scented candles, and other products are frequently made using fragrance concentration.
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The Fragrance Concentrates Market: Overview
The Fragrance Concentrates Market is valued at around USD 8.55 Billion in 2022 and is expected to reach USD 9.56 Billion by 2030 registering a CAGR of 2.3% over the forecast period. Fragrance Concentrates are an additive compound that produces odor when used in small quantities. Fragrance concentrates are widely used in personal care products such as soaps, lotions, creams, and shampoos, along with their application in detergents, cleaning agents, and other household products. They are also found in cosmetic products and specialty chemicals. The fragrance concentrates include fragrances such as flowers, herbs, spices, and more. Fragrance concentrates are fragrance molecules well blended together with carrier molecules to give a long-lasting aroma. These are 100% active so need to be diluted before use and can be used in making perfumes, and also in cosmetics.
The Fragrance Concentrates Market – Growth Factors
The fragrance concentrates market is expected to grow at a significant rate during the forecast period owing to the factors such as a rise in demand for natural fragrances and an increase in the adoption of sustainable packaging. In addition, increasing demand for fragrances from various industries such as pharmaceuticals, food and beverages, and others are also expected to boost the growth of the global fragrance concentrates market during the forecast period. The growth of this market has a high impact on attributes such as shifting consumer preferences towards natural products which may directly affect the overall performance of the global market over the forecast period.
The Fragrance Concentrates Market – Market Trends
• The major market trends driving the growth of the market are growing demand for concentrates, rise in disposable incomes, increased acceptance of premium products, and support by a growing number of retailers.
• Increasing demand from the young generation, rapid urbanization & industrialization, high investments in R&D by key players, and a rise in the adoption of advanced technologies will create new opportunities for the market over the forecast period.
• The increasing awareness about the benefits of using perfume concentrates among end-users is also expected to increase market growth, this can be attributed to their ease of usage and high performance, which on the other hand is considered as the key market trend Fragrance Concentrates Market.
The Fragrance Concentrates Market – Segmentation
The market has been sub-classified into type, solubility, form, and end-use.
On the basis of Solubility, the Fragrance Concentrates market is bifurcated into:
• Water Soluble
• Oil Soluble
On the basis of type, the market is categorized into:
• Microcaps (Microencapsulated Powders)
• Micro-emulsions
• Emulsifiable Concentrates
On the basis of form, the market is segmented into:
• Powder
• Liquid
• Emulsion
On the basis of end-use, the market is divided into:
• Household
• Cosmetics
• Personal Care
• Candles
• Aromatherapy
• Green Fragrances
The Fragrance Concentrates Market –Regional Analysis
South Asia dominated the global market with approximately 36% of the market share in 2017, followed by North America and Europe with around 24% and 23% respectively. Asia-pacific region dominates the global market due to the rapidly growing adoption of concentrates, and rising demand from consumers as well as from personal care companies for fragrances and flavorings products, particularly in countries such as India, China, and Japan. In addition, growing economies in emerging markets such as Brazil, India, and China are expected to create opportunities for fragrance producers. Furthermore, Over the forecast period, the European market is anticipated to grow steadily in terms of revenue. The industry is expanding as a result of the rising demand for perfumes for homes to maintain the right ambiance. Growing consumer knowledge of negative effects is anticipated to boost the revenue growth of the European market.
The Fragrance Concentrates Market – Key Market players
Global key players of Fragrance Concentrate include KP TECH MACHINE, Mohindra Mechanical Works, NCM Nonwoven Converting Machinery, Catbridge Machinery, and Barry-Wehmiller, and so on.
Report scope
Global Market: Historical Years- 2018-2021
Global Market: Forecast Years- 2022-2030
Global Market 2022- USD 8.55 Billion
Global Market CAGR- 2.3%
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