North America Fragrance Ingredients Market is expected to reach USD 4.61 billion by 2021 from USD 3.50 billion in 2016, growing at a CAGR of 5.68%.
The Fragrance Ingredients market is predicted to show enormous potential in the forecasting period. The market continues to show momentum with the rise in demand for personal and other consumer products.
The trend has gained momentum since the regulation, REACH was legislated in the European Union.
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Fragrances are an intricate blend of natural and synthetic ingredients.
A single scent might contain as low as ten to as high as couple of hundreds of ingredients or aroma chemicals in calibrated but minute amounts. These ingredients are basically used in products such as fine fragrances, soaps, cosmetics, detergents.
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The Industry has been witnessing a rise in the demand for natural fragrance ingredients lately, thus catching interest of various companies in the market. Other important factors driving the fragrance ingredients market include, changing consumer preferences, increasing demand for cleaning products, significant advancement in technology.
On the other hand, the market faced some challenges and restraints as well, which include, expensive research and development and compliance with quality and regulatory standards. Concerns with Synthetic product have also been one of the major factors holding down the market from reaching its actual potential.
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The North America Fragrance Ingredients market is categorized on the basis of application and type. Based on type the market segmentation is done into essentials oils as well as aroma chemicals, which are further classified into Orange, Eucalyptus, Mentha Arvensis, Citronella, Cedarwood and Terpenes, Musk Chemicals, benzenoids respectively.
On the basis of Application, the segmentation is done into Cosmetics & Toiletries, Soaps & Detergents, Fine Fragrances. The essential oils accounted for the largest market share in segmentation by type and have a market share of almost twice as that of aroma chemicals.
On the basis of application the market is dominated by soaps and detergents, when on the other side cosmetics and toiletries are forecasted to show the highest CAGR in the coming years. On the basis of geography, the North America market is analysed under two countries namely United States and Canada.
Some of the major companies leading the North America market share include BASF SE, T. Hasegawa Co. Ltd., Firmenich International SA, Givaudan SA, Frutarom Industries Ltd., International Flavors and Fragrances Inc., Robertet SA, Mane SA, Symrise AG, Takasago International Corp.
Scope of the Report
- Regional and country-level analysisand forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC)in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysisfor analysing the level of competition and business strategy development
- A comprehensive list of key market playersalong with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunitiesto provide both individuals and organizations a strong financial foothold in the market
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