The Fragrance Ingredients Market is set to grow from its current market value of more than $11.5 billion to over $18.5 billion by 2024; as reported in the latest study by Global Market Insights, Inc.
Growing penetration rate of international brands, rising demand for personal care products along with growth in cosmetics industry will drive overall fragrance ingredients market demand. These compounds are mixed with personal care products to improve aroma and give freshness to a product. Growing customer spending on beauty products including creams and perfumes supported by growing ageing population may boost industry growth.