Increasing Consumer Preference for Natural Fragrance Solubilizers being Witnessed, Says Fact.MR
FACT.MR
5 min read
FACT.MR
New study by market research firm Fact.MR on the fragrance solubilizers market. Latest trends, forecasts, and competitive landscape analysed in detail.
Rockville, Dec. 26, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, worldwide utilization of fragrance solubilizers was valued at US$ 2.1 billion in 2022. The market is expected to expand at a CAGR of 5.5% over the 2023-2033 study period.
With increasing use of personal care products and cosmetics, the demand for fragrance solubilzers is rising in parallel. The personal care and cosmetics industry provides the biggest market for fragrance solubilizer manufacturers. These are widely employed in personal care and make-up-based, skin care, and hair care formulations. Solubilizers impart a specific property of fragrance diffusion of essential oils into aqueous formulations.
Over the past few decades, there has been increasing demand for environment-friendly products, driving the popularity of bio-based solubilizers. The demand for these solubilizers is increasing worldwide owing to their environment- and skin-friendly properties. Also, on account of the eco-friendly and safe for human consumption attributes, the utilization of fragrance solubilizers is increasing in food supplement formulations.
Key Takeaways from Market Study
The global fragrance solubilizers market is expected to grow at 5.5% CAGR and reach a valuation of US$ 3.6 billion by 2033.
The market experienced a growth rate of 3.4% from 2018 to 2022.
Under the application segment, personal care product formulations dominated the market and accounted for US$ 800 million in 2022.
North America dominated the global market with 25.1% share in 2022.
Sales of fragrance solubilizers are estimated to increase at CAGRs of 5% and 5.6%, respectively, in Europe and East Asia.
“Bolstering consumption of fragrance solubilizers in cosmetics & personal care products to drive market expansion,” says a Fact.MR analyst.
Segmentation of Fragrance Solubilizers Industry Research
Leading manufacturers of fragrance solubilizers are BASF SE, Clariant AG, DAITO KASEI KOGYO, Evonik, Kao Chemical Company, Roquette Frères, Ross Organic, Sensient Technologies, SOCRI S.p.A, and Seppic, Symrise.
Market players are strategically shortening the value chain and consolidating their market presence. They are also focusing on product innovations to gain a wider consumer base. Adopting technological innovation also helps them achieve effective pricing strategies and end-user-specific product performance. Additionally, because the market is highly developed and fragmented, manufacturers can increase their position by implementing organic and inorganic marketing techniques.
Fact.MR, in its new offering, presents an unbiased analysis of the global fragrance solubilizers market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of product composition (natural, synthetic) and application (personal care formulations, [bath & shower, face care, hair care, skin care, others], cosmetic formulations, pharmaceutical formulations, food supplements, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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