Global Perfume and Essence Market Growth 2023-2029

Perfume is an organic compound that can be sensed by smell or taste, also known as aroma raw material, which is mainly used to prepare essence for flavoring products, or directly used as food additives.

Essence is a mixture of spices and related accessories with a specific aroma or fragrance, generally used for flavoring products after consumption.

Researcher's newest research report, the “Perfume and Essence Industry Forecast” looks at past sales and reviews total world Perfume and Essence sales in 2022, providing a comprehensive analysis by region and market sector of projected Perfume and Essence sales for 2023 through 2029. With Perfume and Essence sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Perfume and Essence industry.

This Insight Report provides a comprehensive analysis of the global Perfume and Essence landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Perfume and Essence portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Perfume and Essence market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Perfume and Essence and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Perfume and Essence.

The global Perfume and Essence market size is projected to grow from US$ 29530 million in 2022 to US$ 41500 million in 2029; it is expected to grow at a CAGR of 41500 from 2023 to 2029.

The global market share of perfume and essence in 2019 was 63.76% and 36.24%, respectively.

The global market has a high industry concentration and is shifting to developing countries. In recent years, the combined market share of Givaudan, Firmenich, IFF and Symrise has been maintained above 50%.

The perfume and essence market is mainly used in food and drinks, daily chemicals, tobaccos and other, with market shares of 50.36%, 42.89%, 2.17% and 4.58% respectively in 2019.

This report presents a comprehensive overview, market shares, and growth opportunities of Perfume and Essence market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Perfume

Essence

Segmentation by application

Food & Drinks

Daily Chemicals

Tobaccos

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Givaudan

Firmenich

IFF

Symrise

WILD Flavors

Mane

Takasago

Sensient

Robert

T.Hasegawa

Huabao International

Boton Group

Apple

NHU

Baihua Flavours and Fragrances

Key Questions Addressed in this Report

What is the 10-year outlook for the global Perfume and Essence market?

What factors are driving Perfume and Essence market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Perfume and Essence market opportunities vary by end market size?

How does Perfume and Essence break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?