According to the research report titled ‘Global Perfume chemical ingredients Market Size study with COVID impact, by Type (Aromatic chemicals Essential oils), By Application (Soaps and detergents, Cosmetics and toiletries, Fine fragrances, Home Care, Laundry Care, Personal Care, Cosmetics, Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global perfume chemical ingredients market was valued at USD 17.1 billion in 2019 and is expected to witness a CAGR of 6.67% during 2020-2027.
 

Rising urbanization, high demand for healthy & natural products, and increasing geriatric population leading to changing customer preferences is expected to drive global perfume chemical ingredients market during the forecast period.
 

A perfume is combination of aroma compounds like solvents, essential oils, and fixatives. Perfume chemicals are complex mixture of synthetic and/or natural substances that are added to products to give them a distinctive fragrance.
 

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According to Statista, worldwide natural cosmetics sector accounted for USD 10,113.6 million in 2020 and is anticipated to record a y-o-y growth rate of 9.5% through 2023. Evolving lifestyle, growing usage cosmetics by the consumers, and inclination towards using natural & organic products are impelling global perfume chemical ingredients market revenues.
 

However, high price, harmful effects of synthetic fragrance ingredients, and its short shelf life are the major factors expected to restrain global perfume chemical ingredients industry share over the ensuing years.
 

Based on type, worldwide perfume chemical ingredients market is segmented into essential oils and aromatic chemicals. With regards to application spectrum, the industry is bifurcated into home care, soaps & detergents, fine fragrances, cosmetics, cosmetics & toiletries, laundry care, personal care, and others.
 

Geographically, Asia Pacific is expected to emerge as lucrative growth avenue for global perfume chemical ingredients industry during 2020-2027, due to improved standard of living and rise in manufacturing facilities in the region.
 

Meanwhile, Latin America perfume chemical ingredients market is projected to gain attention over the analysis timeframe, owing to increasing disposable income in countries like Chile, Brazil and Argentina.
 

Major players influencing global perfume chemical ingredients market trends include Godavari Biorefineries Ltd., Yin Yang (China) Aroma Chemical Group, Henkel AG & Co. KGaA, Mane SA, Harmony Organic Pvt. Ltd., Atul Ltd., Givaudan Pvt. Ltd, Charkit Chemical Company LLC, Zhejiang Xinhua Chemical Co. Ltd., Eternis Fine Chemicals Ltd., Frutarom Industries Ltd., KDAC CHEM Pvt. Ltd., and BASF SE.