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Fragrance Product Market Share
In 2023, key companies like Agilex Fragrances, Alpha Aromatics, Firmenich, Lebermuth and Robertet held a combined market share of 10%-15%. These companies are actively engaging in mergers, acquisitions, facility expansions, and collaborations to enhance their product portfolios, reach more customers, and strengthen their market positions.
As consumers increasingly demand sustainable and eco-friendly products, competition in the market has intensified. In response, manufacturers are embracing clean beauty standards, ensuring their offerings are devoid of harmful chemicals, parabens, and phthalates. Furthermore, numerous brands are prioritizing natural and organic ingredients, prominently featuring essential oils. Responding to the rising trend of personalized fragrance experiences, several manufacturers are providing customized products.
Fragrance Product Market Companies
Major players operating in the fragrance product industry are:
- Agilex Fragrances
- Alpha Aromatics
- Auria Perfumes
- CPL Aromas
- Dow
- Fine Fragrances
- Firmenich
- Givaudan
- Henkel
- International Flavors & Fragrances
- Lebermuth
- Mane
- Robertet
- Symrise
- Takasago
What is the size of the U.S. fragrance product market?
The U.S. fragrance product industry was valued at USD 12.8 billion in 2023 and is estimated to grow at a 5.3% CAGR from 2024 to 2032, fueled by a rising demand for personalized fragrance experiences.
Why is the synthetic fragrance segment dominating the market?
The synthetic fragrance segment recorded USD 39.7 billion in 2023 and is expected to grow at a 5.4% CAGR from 2024 to 2032 as they are more budget-friendly than natural counterparts, dominating the mass market, especially in body sprays, deodorants, and budget perfumes.
How big is the global fragrance product market?
The global fragrance product industry was valued at USD 54.6 billion in 2023 and is estimated to grow at a 5.3% CAGR from 2024 to 2032, driven by shifting consumer behaviors, technological advancements, and a focus on personalization, sustainability, and luxury.
Who are some of the prominent players in the fragrance product industry?
Key players in the industry include Agilex Fragrances, Alpha Aromatics, Auria Perfumes, CPL Aromas, Dow, Fine Fragrances, Firmenich, and Givaudan.