Herbal Fragrance Ingredients Market Outlook (2023 to 2033)
The global Herbal Fragrance Ingredients market is expected to reach a market valuation of USD 22,742.106 Million by the year 2023, accelerating with a CAGR 3.4% by 2023 to 2033. Herbal Fragrance Ingredients sales are likely to account for a part of the demand in the global fragrance market, valued at approximate USD 31,771.30 Million in 2033.
Fragrance is a mixture of aroma compounds, essential oils, solvents and fixatives. From the 19th century the modern perfumery began with the commercial synthesis of essential compounds such as coumarin and vanillin.
Since the fragrances are produced and manufactured using chemicals and synthetic compounds, people have started to prefer the usage of organic, natural and herbal fragrances. The herbal fragrances are made using herbal fragrance ingredients, which has all natural and herbal ingredients in it. The chemical and synthetic fragrances have a toxic effect on the human skin if exposed to it on prolonged period of time. The herbal fragrance ingredients do not have any toxic effect on the skin for its nature.
The herbal fragrance ingredients are almost used in many beauty and personal care products
Future Market Insights projects the market to remain lucrative, exhibiting growth at 3.4% CAGR between 2023 and 2033 in comparison to the CAGR of 5.9% posted between 2018 and 2022. The benefits of the herbal fragrance ingredients in the making of perfumes, beauty care products and personal care products are high, which is expected to have a good market potential in the upcoming years.
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How Do the Herbal Fragrance Ingredients Market's Historic and Future Outlook Compare?
Herbal Fragrance Ingredients sales grew at a CAGR of 5.9% between 2018 and 2022. The period marked the entry of various market players and product innovations.
Historically, the herbal fragrance ingredients market has been driven by an increasing demand for natural and organic products, as consumers become more conscious of the potential risks associated with synthetic fragrances. In addition, there has been a growing interest in traditional herbal remedies and aromatherapy, which has further fuelled demand for natural fragrance ingredients.
Looking to the future, the herbal fragrance ingredients market is expected to continue to grow at a steady pace. This growth is expected to be driven by a number of factors, including increasing consumer demand for natural and organic products, a growing interest in alternative therapies and holistic health, and a trend towards sustainability and eco-friendliness.
Overall, the future outlook for the herbal fragrance ingredients market looks promising, as consumers continue to seek out natural and sustainable products. However, competition in the market is likely to increase, as more companies enter the space to capitalize on these trends.
Herbal Fragrance Ingredients Market: Drivers
The herbal fragrance ingredients include ingredients such as amber, cinnamon orange clove, sandalwood, vetiver, rose, neroli and others. These herbal fragrance ingredients consist of all three tones which provides a base fragrance to the perfume. The herbal fragrance ingredients provide certain physical and emotional healing properties such as energy-enhancing, calming and mood-lifting.
Herbal perfumes made from herbal fragrance ingredients can be used separately or layered in order to create different scents. The potential for the growth of the herbal fragrance ingredients market is quite high, owing to its various applications.
The population in regions such as Asia-Pacific and Latin America have started to use the herbal fragrance ingredients in their cosmetic products. If the same practice is adopted by other regions, it is likely to lead to global market growth.
Thus, Future Market Insights predicts a substantial growth of Herbal Fragrance Ingredients Market in the given forecast period.
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Country Wise Insights
Regions
North America
Countries
United States
Value CAGR in % (2023)
6.0%
Value Share in Market (2023)
30.3%
Regions
Europe
Countries
Germany
Value CAGR in % (2023)
3.8%
Value Share in Market (2023)
29.2%
Regions
Asia Pacific
Countries
India, Japan
Value CAGR in % (2023)
3.5%, 6.0%
Value Share in Market (2023)
9.9%, 8.4%
The Dominance of the European countries in Herbal Fragrance Ingredients Market
Europe has historically been a dominant player in the herbal fragrance ingredients market and is expected to continue to hold a significant share of the market in the coming years.
There are several factors that have contributed to Europe's dominance in the herbal fragrance ingredients market, including:
The rich history of herbalism: Many European countries have a long history of using herbs and natural ingredients for medicinal and cosmetic purposes. This has created a strong culture of herbalism and a wealth of knowledge and expertise in the use of natural ingredients.
Strong demand for natural and organic products: Consumers in Europe are increasingly seeking out natural and organic products and are willing to pay a premium for them. This is driving demand for herbal fragrance ingredients, which are seen as a safer and healthier alternative to synthetic fragrances.
Stringent regulations: Europe has some of the most stringent regulations governing the use of cosmetic ingredients in the world. This has led to a focus on safety and quality in the production of herbal fragrance ingredients, which has helped to build a reputation for excellence in the market.
Innovation in the natural fragrance industry: European companies have been at the forefront of innovation in the natural fragrance industry, developing new and unique herbal fragrance ingredients that are in high demand around the world.
Overall, these factors have contributed to Europe's dominance in the herbal fragrance ingredients market, and the region is expected to remain a major player in the market in the years to come.
What is the outlook for the Herbal Fragrance Ingredients market in Japan?
Natural ingredients have long been used in traditional Japanese medicines and cosmetics, and this practice is predicted to stick around in the coming years. In Japan, there is a lot of emphasis on natural and holistic health, and customers look for goods that are devoid of artificial chemicals and preservatives.
Demand for herbal fragrance compounds is also being fueled by an increase in interest in aromatherapy and the use of natural scents in personal care products. The demand for eco-friendly and sustainable products is rising as Japanese customers become more ecologically concerned.
Overall, the herbal fragrance ingredients market in Japan is expected to grow at a steady pace in the coming years. However, competition in the market is likely to increase, as more companies enter the space to capitalize on these trends.
What are the factors driving the USA in Herbal Fragrance Ingredients Market?
There are several factors driving the USA herbal fragrance ingredients market, including:
Demand for natural and organic goods is rising as American consumers become more aware of the possible dangers of synthetic perfumes and look for natural and organic alternatives. Herbal scent compounds are in high demand since they are thought to be safer and healthier than their synthetic competitors.
Increasing demand for herbal scent compounds used in aromatherapy and other natural medicines is being driven by the growing interest in alternative therapies and holistic health in the United States.
Natural personal care product use on the rise: In the United States, the use of natural components in personal care products is on the rise. The demand for herbal scent components in a variety of goods is being driven by this trend.
Increasing environmental awareness: Consumers in the USA are becoming more environmentally conscious and are seeking out products that are sustainable and eco-friendly. Herbal fragrance ingredients are perceived as more environmentally friendly than synthetic fragrances, which is driving demand for these natural ingredients.
Overall, the Herbal Fragrance Ingredients market in the USA is likely to experience continued growth over the next decade.
Category wise Insights
Adjacent Markets Overview
Fragrance Product Market:
Attributes
Fragrance Product Market
CAGR (2023 to 2033)
9.4%
Market Value (2033)
US$ 100 Billion
Growth Factor
One of the essential driving reasons for the fragrance product market is predicted to be the increased emphasis on personal cleanliness and grooming among both men and women.
Opportunity
Deodorants and fragrances have evolved into everyday personal care items of the fragrance product market that play an essential part in personal grooming.
Key Trends
Growing worries about personal care products and a cultural predisposition to use scented soaps, incense sticks, detergents, and deodorants would significantly boost demand for fragrance products.
Herbal Tea Market:
Attributes
Herbal Tea Market
CAGR (2023 to 2033)
7.1%
Market Value (2033)
US$ 7.34 Billion
Growth Factor
Due to an increase in awareness about health and nutrition, the herbal tea market has gained traction in recent years.
Opportunity
With the rise of the health industry in recent years, the rise of fat-burning tea has unwittingly contributed to the growth of the market by stimulating the rise of the health industry.
Key Trends
A ready-to-drink variant is also being introduced in the market in order to increase the company's overall sales. Innovative marketing strategies and endorsements from celebrities are also expected to fuel market growth in the coming years.
Herbal Supplements Market:
Attributes
Herbal Supplements Market
CAGR (2023 to 2033)
7.8%
Market Value (2033)
US$ 191 Billion
Growth Factor
People are looking for alternatives to prescription drugs and other synthetic products. While some people are sceptical about the benefits of herbal supplements, many others swear by them.
Opportunity
The pharmaceutical industry's expansion will benefit the herbal supplement business in these areas.
Key Trends
The growing popularity of clean-label makeup products and skin creams is driving industry participants to incorporate natural and plant-based compounds like curcumin, which is generating revenue in the cosmetics market.
Category Trends in Product and End Use of Herbal Fragrance Market in the Forecast Period
A subcategory of the wider perfume market, the herbal fragrance market is anticipated to expand at a 3.9% CAGR from 2022 to 2033. Over the next several years, the demand for expensive and premium fragrances among women is expected to increase along with disposable income growth. Over the course of the projection period, online retail sales channels will drive market expansion, while the unisex category is anticipated to expand at a 3% CAGR.
The market for perfume constituent chemicals will be driven by consumer preferences for herbal cosmetic products over traditional personal care products. Major businesses in this highly fragmented market with lucrative potential, especially in developing countries, have chosen the successful distinguishing strategy of manufacturing goods that are specifically suited for specific end users.
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Opportunity for New Products/Innovations
The global Herbal Fragrance Ingredients has progressed on the outline of new product innovations and will continue to grow the same way during the period of forecast. Producers could emphasis on producing innovative products while complying with guidelines and regulations for food grade material usage.
Some of the key players operating in the global herbal fragrance ingredients market are Givaudan SA, Symrise AG., Firmenich SA., IFF, Fine Fragrance Private Limited, Alpha Aromatics, VERMA FRAGRANCE INDUSTRIES, S H Kelkar and Company Limited, COSCENTRIX, MANE and other players.
In the year 2018, MANE was awarded the top sustainable family business prize which recognizes the company towards the ethics and sustainability. The award was presented in Madrid.
In the year 2017, Fine Fragrance Private Limited launched a variety of herbal fragrance ingredients such as Apo Patchone, Canthoxal, Fleuranil, Iso Butyl Quinolene and Ocimene. This helps in the production of herbal fragrances for the cosmetic manufacturers.
Scope of the Report
Attribute
Details
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
USD Million for Value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa
Key Countries Covered
USA, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, India, India, Thailand, USA., Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.
Key Segments Covered
Type, Application, Region
Key Companies Profiled
Symrise AG
Firmenich SA
Givaudan SA
International Flavors & Fragrances Inc. (IFF)
Takasago International Corporation
Mane SA
Robertet SA
Sensient Technologies Corporation
Frutarom Industries Ltd.
Huabao International Holdings Ltd.
Report Coverage
Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Herbal Fragrance Ingredients Market by Category
By Application:
Homecare
Car Care
Cosmetics
Perfumes
Toiletries
Skin Care
By Ingredients:
Anise
Bergamot
Clary Sage
Dewfruit
Eucalyptus
Geranium
Sandalwood
Vetiver
Rose
Others
By Region:
North America
Latin America
Europe
Middle East and Africa
East Asia
South Asia
Oceania
Frequently Asked Questions
At what rate will the Herbal Fragrance Ingredients Market grow?
Throughout the forecast period, the Herbal Fragrance Ingredients Market is expected to grow at a CAGR of 3.4%
What is the expected value of the Herbal Fragrance Ingredients Market by 2033?
By 2033, the Herbal Fragrance Ingredients Market is expected to be worth USD 31,771.30 Million.
What are the key factors driving the Herbal Fragrance Ingredients Market?
The rise in disposable income and demand for luxurious and premium fragrances among women is likely to boost the perfume market over the next few years.
Which region(s) adds to the highest Herbal Fragrance Ingredients Market Valuation?
Currently, the North American region is at the top of the market share of Herbal Fragrance Ingredients.
Who are the key players in the Herbal Fragrance Ingredients Market?
Some of the key players in the Herbal Fragrance Ingredients Market are Givaudan SA, Symrise AG., Firmenich SA., IFF, Fine Fragrance Private Limited, Alpha Aromatics, VERMA FRAGRANCE INDUSTRIES, S H Kelkar and Company Limited, COSCENTRIX, MANE, and other players.
