Fact.MR, a supplier of market research and competitive intelligence, estimates that in 2022, the global fragrance solubilizers market will be worth US$ 2.1 billion. The market is anticipated to grow at a CAGR of 5.5% from 2023 to 2033.
The need for scent solubilizers is growing along with the use of cosmetics and personal care products. The largest market for scent solubilizers producers is the personal care and cosmetics sector. These are frequently used in formulas for skin, hair, and personal care products as well as makeup-based products. Solubilizers give aqueous formulations a special quality of scent diffusion of essential oils.
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Market Participants
- BASF SE
- Clariant AG
- DAITO KASEI KOGYO
- Evonik
- Kao Chemical Company
- Roquette Frères
- Ross Organic
- Sensient Technologies
- Seppic
- SOCRI S.p.A
- Symrise
- Others
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.
Market Development
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.
The global market for fragrance solubilizers is highly competitive with the presence of several local and regional players. Also, the availability of low-quality alternatives to fragrance solubilizers compels manufacturers to produce low-cost and efficient products for mass adoption. To stay ahead in this business, manufacturers are investing a substantial share of their profits in R&D to upgrade their existing product portfolios.
- In November 2020, Symrise AG signed an agreement with Sensient Technologies to expand its business in fragrance and aroma chemical activities to strengthen its market position.
- In November 2021, SOCRI S.p.A launched an innovative alternative to chemical-based solubilizers named POLYSOL® PGA. This product is well-suited for the dispersion of essential oils.
Key Statistics Supporting the Surge
- 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.
Industry Research
- By Composition :
- Natural
- Synthetic
- By Application :
- Personal Care Formulations
- Bath & Shower
- Face Care
- Hair Care
- Skin Care
- Others
- Cosmetic Formulations
- Pharmaceutical Formulations
- Food Supplements
- Personal Care Formulations
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Predominant Questions Answered in This Report Are:
- Which segments will perform well in the products and services market over the forecasted years?
- In which markets companies should authorize their presence.
- What are the forecasted growth rates for the products and services market?
- What are the long-lasting defects of the industry?
- How share market changes their values by different manufacturing brands?
- What are the qualities and shortcomings of the key players?
- What are the major end results and effects of the five strengths study of industry?
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