The global perfume and fragrances market is expected to gain a positive traction in the forecast period. Perfumes and fragrances are produced synthetically and are in the expansion phase owing to use of essential oils and fragrance complexes. In the early stages of manufacturing, major compounds were removed from natural products and their structure included processes for isolation or synthesis. With the advances in modern analytical techniques, it becomes possible to isolate and identify fragrance and flavor substances that occur in natural products in small amounts.
Commercially, natural compounds are obtained from the natural sources by enzymatic or microbial procedures and produced synthetically but chemically identical to natural counterparts. On the contrary, artificial flavor substances are compounds not yet identified in plants or animal products; whereas aldehydes, ketones, esters, and lactones are compounds that are frequently used in natural and artificial fragrances.
Perfume and fragrances market is driven by factors such as rise in disposable income for personal and beauty care products and rising awareness regarding personal hygiene. In addition, the rise in use of online platforms is likely to boost the market growth in the forecast period. However, the availability of fake products and excessive use of chemicals for production of perfumes and fragrances is likely to hinder the market growth in the forecast period.
Perfume and fragrances market is segmented based on type that include Perfume, Cologne and deodorants. By ingredients, the perfume and fragrances market include synthetic and natural. Synthetic segment accounts for a higher market share due to End-user segmentation for perfume and fragrances market include men, women, and unisex.