The natural fragrance market size is projected to reach USD 4.3 million by 2024 from USD 2.7 million in 2019, at a CAGR of 9.6%. Increasing use of natural fragrance ingredients in various applications such as fine fragrances, personal care & cosmetics, and household care is expected to drive the natural fragrance market. Europe is the key market for natural fragrances, globally, followed by North America and Europe.

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Europe is the largest natural fragrances market and is expected to continue dominating the global market during the forecast period. Increased investments in the manufacturing industries primarily drive the market. Improving living standard has been driving the growth of the personal care & cosmetic industry, which is expected to drive the natural fragrances market.

The key market players profiled in the report include as Givaudan SA (Switzerland), Firmenich SA (Switzerland), International Flavors & Fragrances (US), Symrise AG (Germany), Takasago International Corporation (Japan), Mane SA (France), Robertet SA (France), Sensient Technologies Corporation (US), T. Hasegawa Co., Ltd. (Japan), Bell Flavors & Fragrances (US).

Key Questions addressed by the study
What are the major developments impacting the market?
Where will all the developments take the industry in the mid to long term?
What are the upcoming products of natural fragrances?
What are the emerging applications of natural fragrances?
What are the major factors impacting market growth during the forecast period?

Rising demand for natural products and increased use of natural fragrances in various applications such as fine fragrances, personal care & cosmetics, and household care, are expected to drive the natural fragrances market. Additionally, rapid urbanization and industrialization in countries such as China, Japan, Brazil, and Argentina will increase the demand for various end-use products such as fine fragrances, personal care & cosmetics, and household care. This factor is estimated to drive the natural fragrance market.