Market Dynamics:
The global fragrance and perfume market is witnessing high growth owing to rising demand from millennial population. Millennials are more brand conscious and perceive fragrances as a way of self-expression. Moreover, they are influenced by digital and social media marketing trends adopted by key players. The changing lifestyles of the millennial population, along with increasing disposable income in developing economies are driving the growth of the market. Furthermore, increasing demand for fragrance ingredients from personal care product manufacturers is also fueling market growth. However, stringent regulations pertaining to toxic chemical compounds present in fragrances may hamper market growth over the forecast period.

Key Takeaways

Global Fragrance And Perfume Market Demand is expected to witness high growth over the forecast period supported by increasing demand across regions.

Regional Analysis: Asia Pacific dominates currently with largest consumer base and is projected to continue fastest growth till 2030 led by China, India and other Southeast Asian countries. Changing preferences towards natural ingredients provide opportunity for key players to diversify portfolio with botanically derived fragrances.

Key players operating in the fragrance and perfume market are BASF Corporation, DSM, Cellana Inc., JC Biotech Pvt.Ltd, FEMICO, Croda International Plc, Pharma Marine AS, Clover Corporation, Omega Protein Corporation, Kingdomway Nutrition, Inc., ECPlaza Network Inc., Bizen Chemical Co.LTD, Stepan Company, Novotech Nutraceuticals, Inc., Arjuna Natural, Jiangsu Auqi Marine Biotechnology Co., Ltd., and Aker BioMarine. Strategic acquisitions, product innovation and digital branding are focus areas.

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