Fragrance Ingredients Market - Global Trends & Forecasts to 2019

Fragrance Ingredients Market - Global Trends & Forecasts to 2019

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Published on Oct 17, 2014 - 145 pages

Fragrance Ingredients Market by Type (Essential Oils and Aroma Chemicals), by Application (Cosmetics & Toiletries, and Soaps & Detergents) & by Geography - Global Trends & Forecasts to 2019

The fragrance ingredients market has grown exponentially in the last few years and this trend is projected to continue. The market was valued at $12,383.25 million in 2013; and at a CAGR of 5.6% from 2014, the market is projected to reach $17,104.21 million by 2019. The market is being driven by the change in consumer preferences, significant technological advancements, and increase in demand from emerging economies for natural fragrances due to health concerns related to synthetic chemicals. The fragrance ingredients market is facing various challenges such as high cost of migration from synthetic to natural sources, lack of transparency in fragrance patent protection laws, and health concerns related to synthetic products. Potential opportunities exist in the Asian and Latin American regions due to the low cost of raw materials for natural ingredients and the availability of labor. Fragrances also are finding applications in various unconventional products such as deodorants with chocolate fragrance.

Europe accounted for the largest share of the fragrance ingredients market in 2013. However, in the next five years, the market in Latin America is projected to grow at the highest CAGR, followed by the Asia-Pacific region. These regions are projected to be the emerging revenue-generating pockets for the market players.

In this report, the fragrance ingredients market has broadly been segmented on the basis of types, applications, and regions. The report has further been divided into sub-segments. Ther market for essential oils has been sub-segmented into orange, M. arvensis, eucalyptus, cedarwood, citronella and others (Basil, camphor, clove, coriander, jamrosa, lemongrass, litsea cubeca, patchouli, and sassafras). On the other hand, the market for aroma chemicals have been further sub-segmented into terpenes, benzenoids, musk chemicals and others (aliphatic, alicyclic, and heterocyclic compounds). The increase in inclination towards the use of branded fragrances from various countries as a result of globalization, rise in the disposable income, and growth in population are the key factors driving the growth of the market in the developing regions. The fragrance ingredients market is marked with intense competition due to the presence of a large number of both large- and small-scale firms. Expansions, acquisitions, and new product developments are the key strategies adopted by market players in order to ensure their growth in the market. The market is dominated by players such as BASF SE (Germany), Symrise AG (Germany), Givaudan SA (Switzerland), and International Flavors & Fragrances Inc. (U.S.).



Table of Contents

TABLE OF CONTENTS

1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKETS COVERED
1.3 PERIODIZATION CONSIDERED FOR THE FRAGRANCE INGREDIENTS MARKET
1.4 BASE CURRENCY CONSIDERATION FOR FRAGRANCE INGREDIENTS MARKET
1.5 STAKEHOLDERS
1.6 MARKET SCOPE

2 RESEARCH METHODOLOGY
2.1 DESCRIPTION OF THE FRAGRANCE INGREDIENTS DEMAND MODEL
2.1.1 CHANGING CONSUMER PREFERENCES: HEALTH & IMAGE
2.1.2 POPULATION GROWTH & URBANIZATION TREND
2.2 MARKET SIZE ESTIMATION
2.3 MARKET CRACKDOWN & DATA TRIANGULATION
2.4 MARKET SHARE ESTIMATION
2.4.1 KEY DATA TAKEN FROM SECONDARY SOURCES
2.4.2 KEY DATA FROM PRIMARY SOURCES
2.4.2.1 Key Industry Insights
2.5 ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS
4.1 ATTRACTIVE MARKET OPPORTUNITIES FOR FRAGRANCE INGREDIENTS
4.2 FRAGRANCE INGREDIENTS MARKET: PRODUCT SEGMENT, BY APPLICATION
4.3 FRAGRANCE INGREDIENTS MARKET: PRODUCT SEGMENT, BY REGION
4.4 U.S.: THE DOMINANT MARKET
4.5 LIFE CYCLE ANALYSIS, BY GEOGRAPHY

5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 EVOLUTION
5.3 MARKET SEGMENTATION
5.3.1 FRAGRANCE INGREDIENTS MARKET, BY TYPE
5.3.2 FRAGRANCE INGREDIENTS MARKET, BY APPLICATION
5.4 MARKET DYNAMICS
5.4.1 DRIVERS
5.4.1.1 Rise in Demand for Cleaning Products
5.4.1.2 Changing Consumer Preferences
5.4.1.3 Increase in Demand for Natural Fragrance Ingredients
5.4.1.4 Significant Technological Advancements
5.4.2 RESTRAINTS
5.4.2.1 Expensive R&D Practices
5.4.2.2 Regulatory Standards
5.5 OPPORTUNITIES
5.5.1 GREENFIELD VENTURES IN ASIA-PACIFIC AND LATIN AMERICA
5.5.2 WIDENING SCOPE FOR THE EMERGING APPLICATIONS
5.6 CHALLENGES
5.6.1 HIGH COST OF MIGRATION FROM SYNTHETIC TO NATURAL SOURCES
5.6.2 CONCERNS RELATED TO SYNTHETIC PRODUCTS
5.6.3 LACK OF TRANSPARENCY IN PATENT PROTECTION LAWS
5.7 BURNING ISSUE: NATURAL VERSUS SYNTHETIC: A DEBATE

6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
6.3 SUPPLY CHAIN ANALYSIS
6.3.1 KEY INFLUENCERS
6.4 INDUSTRY TRENDS
6.5 PORTER'S FIVE FORCES ANALYSIS
6.6 THREAT OF NEW ENTRANTS
6.6.1 THREAT OF SUBSTITUTES
6.6.2 BARGAINING POWER OF SUPPLIERS
6.6.3 BARGAINING POWER OF BUYERS
6.6.4 INTENSITY OF COMPETITIVE RIVALRY
6.7 PEST ANALYSIS
6.7.1 POLITICAL FACTORS
6.7.2 ECONOMIC FACTORS
6.7.3 SOCIAL FACTORS
6.7.4 TECHNOLOGICAL FACTORS
6.8 STRATEGIC BENCHMARKING
6.8.1 DISCOVERING OPPORTUNITIES THROUGH EXPANSIONS
6.8.2 TARGETED ACQUISITIONS OF MEDIUM-SIZED PLAYERS

7 FRAGRANCE INGREDIENTS MARKET, BY TYPE
7.1 INTRODUCTION
7.2 FRAGRANCE INGREDIENTS MARKET, BY TYPE
7.3 ESSENTIAL OILS
7.3.1 ORANGE
7.3.2 MENTHA ARVENSIS
7.3.3 EUCALYPTUS
7.3.4 CEDARWOOD
7.3.5 CITRONELLA
7.3.6 OTHER ESSENTIAL OILS AS FRAGRANCE INGREDIENTS
7.4 AROMA CHEMICALS
7.4.1 TERPENES
7.4.2 BENZENOIDS
7.4.3 MUSK CHEMICALS
7.4.4 OTHER AROMA CHEMICALS AS FRAGRANCE INGREDIENTS

8 FRAGRANCE INGREDIENTS MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 COSMETICS & TOILETRIES
8.3 FINE FRAGRANCES
8.4 SOAPS & DETERGENTS
8.5 OTHER APPLICATIONS

9 FRAGRANCE INGREDIENTS MARKET, BY REGION
9.1 INTRODUCTION
9.2 NORTH AMERICA
9.2.1 U.S.
9.2.2 MEXICO
9.2.3 CANADA
9.3 EUROPE
9.3.1 FRANCE
9.3.2 GERMANY
9.3.3 U.K.
9.3.4 SPAIN
9.3.5 ITALY
9.3.6 REST OF EUROPE
9.4 ASIA-PACIFIC
9.4.1 CHINA
9.4.2 INDIA
9.4.3 JAPAN
9.4.4 AUSTRALIA
9.4.5 REST OF ASIA-PACIFIC
9.5 LATIN AMERICA
9.5.1 BRAZIL
9.5.2 ARGENTINA
9.5.3 CHILE
9.5.4 REST OF LATIN AMERICA
9.6 REST OF THE WORLD (ROW)

10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW