preferences towards natural fragrance ingredients owing to their benefits <strong>and</strong> technological advancements may stimulate the product dem<strong>and</strong>. <strong>Fragrance</strong> ingredients are bifurcated into aroma chemicals <strong>and</strong> essential oils, which are commonly used in the food & beverage, cosmetics & toiletries sector. Essential oils segment can be further divided into citronella, cedarwood, M. arvensis, orange, Eucalyptus <strong>and</strong> others. Aroma chemicals include terpenes, heterocyclic compounds, musk chemicals, aliphatic, benzenoids, <strong>and</strong> others. North America, led <strong>by</strong> Mexico, Canada <strong>and</strong> the U.S. fragrance ingredients market size may show steady growth pertaining to increasing anti-ageing product use caused <strong>by</strong> rising awareness of ageing signs, increasing obesity <strong>and</strong> sedentary lifestyles. Rapidly ageing population in the region has led to surging dem<strong>and</strong> <strong>for</strong> fragrance-based antiwrinkle creams in the region. Increasing dem<strong>and</strong> <strong>for</strong> cosmetics, soaps, toiletries <strong>and</strong> detergents may drive growth of product market size. The anti-ageing product market in the U.S was valued at over USD 50 billion in 2017 due to an ageing population, technological advancements, <strong>and</strong> product improvements which led to increased growth of product market size. Asia Pacific fragrance ingredients market size, led <strong>by</strong> South Korea, Australia, Japan, India <strong>and</strong> China is likely to show rapid growth in the <strong>for</strong>ecast period owing to rapid economic growth that has led to an increasing dem<strong>and</strong> <strong>for</strong> products such as perfumes, deodorants <strong>and</strong> mists, along with essential hygiene-related products. Rising disposable incomes, increasing dem<strong>and</strong> <strong>for</strong> wellness, personal care <strong>and</strong> household care products is likely to accelerate natural product market growth in the region. Indian deodorant market size is likely to grow at about 15% till <strong>2024</strong>, driven <strong>by</strong> the rise of the middle class, increasing dem<strong>and</strong> from small markets <strong>and</strong> rising awareness of personal grooming which presents growth opportunities <strong>for</strong> fragrance ingredients market dem<strong>and</strong>. These products have certain health concerns owing to presence of toxic components there<strong>by</strong> restraining the fragrance ingredients market growth. Additionally, rising <strong>research</strong> & development costs, uncertainty over patent regulations, <strong>and</strong> stringent quality guidelines driving high production costs may further limit the market growth. <strong>Fragrance</strong> ingredients market <strong>share</strong> is competitive <strong>and</strong> highly fragmented with companies like BASF, Takasago international, MANE, Firmenich, Symrise <strong>and</strong> Givuadan. Vendors are adopting strategies like capacity expansions <strong>and</strong> mergers & acquisitions to deal with rising product dem<strong>and</strong>. Browse Full Report @ https://bit.ly/2C8Rf2W 2 | P a g e
3 | P a g e <strong>Market</strong> <strong>research</strong> reports: Key analytical components