Fragrance Oil Market will Accelerate to $ 10,069.8 Million by 2023 at a CAGR of 3.9%
Bangalore, India, September 24, 2018: With its recent published study “Fragrance Oil Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts the global market for fragrance oil will continue to grow. The growing disposable income among developing countries, increasing buying power, and increased demand from end use industries is driving the market growth. Furthermore, the increased demand for aromachology is positively impacting the market during the forecast period. The fragrance oil market revenue will increase further by 2023, growing at a CAGR of 3.9%.
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Fragrance oil is used as an additive in personal care, household and home care products, and fine fragrances to improve the aroma longevity and also impart various different flavored fragrances. Increasing buying power, rising consumer awareness, regulatory reforms along with technological advancement is empowering the fragrance oil industry across the globe. The overall booming industry of cosmetics and home care has contributed majorly towards the fragrance oil market.
“The fragrance oil is not new to anyone. These are used in various day to day products. Many options are available in the market since more than a century. The property to improve the aroma life in the products has recharged the market in light with the increasing demand for fragrance oil utilized for aroma therapy. Further, Asia Pacific shall witness the highest growth in the coming years becoming the largest market.” – Vasundhara Singh, Research Associate, Infoholic Research.
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The key insights of the report are as follows:
The global fragrance oil has been categorized on the basis of type
The study has been analyzed on the basis of application
- Fine Fragrances
- Personal Care
- Household Products
The report covers mentioned geographies
- Asia Pacific
- North America
- Rest of the World