Natural fragrances market is witnessing a massive growth over the last few years. Growth of the natural fragrances is accelerated by speedy rate of industrialization, development of new markets for natural fragrances, and greater significance to innovation and R&D for developing efficient natural fragrances. Also, the presence of key players in the European countries is expected to stimulate the growth of natural fragrances in the European countries. Also, changing lifestyles of the consumer is further propelling the growth of natural fragrances during the forecast period of 2017-2023.
Natural Fragrances Market is expected to grow at the CAGR of 6.0%. Natural fragrances refer to composite blend of synthetic and/or natural ingredients which are added to the product in order to provide a unique smell. Natural fragrances are comprised of natural aromatic raw materials such as essential oils, fractions of essential oils, isolates, and exudates such as resins, distillates, extracts and volatile concentrates. Natural fragrances are gaining traction with the increase in demand for personal care and other consumer products
Key players in the Europe natural fragrances market are emphasizing to enhance their investment in product development in order to extend the product line. Additionally, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate the untapped market.
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Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major natural fragrances market players. It further includes product portfolios, developments of leading major players which includes
- Takasago International (Japan)
- T.Hasegawa Co., Ltd (Japan)
- Givaudan SA (Switzerland)
- Firmenich SA (Switzerland)
- International Flavors and Fragrance (U.S.)
- Sensient Flavors and Fragrances (U.S.) and
- Symrise AG (Germany)
Natural Fragrances Market is segmented on the basis of source, application, distribution channel and region.
- End users (food industry)
- Retailers and wholesalers
- E-commerce companies
- Natural Fragrances manufacturers
- Raw material suppliers
- Traders, importers and exporters
The Europe natural fragrances market is segmented into France, Spain, U.K., Germany, Italy and Rest of Europe. Among these, Germany has the major market proportion in the Europe natural fragrances market. The market is projected to grow at a high pace in the review period of 2017-2023. Also, the presence of small and local players in Western European countries is expected to propel the sales of natural fragrances in the upcoming decade. Also, the growth of natural fragrances product is attributed to the different innovations in the new launch of various new natural fragrances product over the last couple of years.
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- Asia Pacific is projected to witness a massive growth during the forecast period 2017-2023
- China and India is estimated to create a favorable environment for the increasing growth of Asia Pacific region
- Europe dominates the natural fragrances market followed by North America
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