Plant Based Fragrance Oil Market Outlook
Plant-based fragrance oils are also known as flavor oils, aromatic oils, and aroma oils are natural essential oil or blended synthetic aroma compounds that are diluted with a carrier like, mineral oil, propylene glycol or vegetable oil. Plant-based fragrance oil is free from synthetic ingredients. The essential pure natural oil and extract contains naturally derived aromatics isolates such as geraniol, vanillin, and limonene that are extracted from raw natural botanical ingredients like vanilla beans, lemons, and roses. The plant-based fragrance oil is extremely pure plant extract produced from a relatively high and new efficient extraction process. The Plant-based fragrance oil is used in a wide range of soap making, scented candles and in a variety of personal care products. Besides its uses in the personal care products, Plant-based fragrance oil is used in households cleaning products, perfumes, for flavoring drinks and food products, cosmetics and is also added in incense as scent. Plant-based fragrance oils are derived from various sources, consisting of vegetables, fruits, herbs & spices and other plant parts such as roots and leaves. Plant-based fragrance oil is a natural flavor extracts and are getting traction from the consumers.
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Market is to Experience the Growth in the Sales of the Plant based Fragrance Oil Owing to the Increase Popularity of the Exotic and Ethnic Flavors
Food and beverage processing and production industry is entering into various new and emerging countries from Latin America, MEA, and Asia. The suitable government policies, available workforce resources, and improving ease of business, many key and prominent food and beverage manufacturers are introducing themselves into the untapped market of these countries. This is likely to create the potential market opportunity for the manufacturers of the plant based fragrance oils in these countries. Urbanization, industrialization favoring the growth of the food and beverage industry is anticipated to propel the global plant based fragrance oils market.
Consumer demand and consumer sentiments are impacting significantly and shaping global food and beverage industry. Since the health and wellness around the world is a rising trend, eating healthy and nutritious products is being preferred by the consumers to stay fit and prevent major diseases. In order to attain the healthy lifestyle, consumers prefer natural and organic products over synthetically and conventionally produced products. The plant based fragrance oils derived from the natural sources such as plant parts or from plants are being preferred by the food and beverages manufacturers, tapping into the current consumer need.
The research and development activities and increasing funds and expenditure is leading to the launch of various new and innovative plant based fragrance oils comprising of exotic and ethnic flavors. These products are attracting the younger generation due to the attractive and eye-catching packaging and increase the sales of the products, creating increased demand for the natural plant based fragrance oil. The plant based fragrance oil market is likely to grow at a significantly moderate to high rate.
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Plant Based Fragrance Oil Market Segmentation
The Plant based fragrance oil market can be segmented on the basis of sources, nature, form, and end use.
On the basis of sources, the plant based fragrance oil market can be segmented as:
- Fruits & Other Plant Parts
- Herbs & Spices
On the basis of nature, the plant based fragrance oil market can be segmented as:
On the basis of form, the plant based fragrance oil market can be segmented as:
On the basis of end use, the plant based fragrance oil market can be segmented as:
- Food & Beverage
- Processed Food
- Bakery & Confectionery
- Energy & Soft Drinks
- Dietary Supplements
- Other (Oral Care, Tobacco, etc.)
Plant based Fragrance Oil Market: Regional Analysis
At present market scenario, European countries are accounting majority of the market share, since big and prominent market players are located in the region. The continuous market demand from the food and beverage consumer for premium and fortified products is resulting in the market occupancy by European region. However, urbanization, industrialization, population growth, consumer awareness, and increase in the purchasing power of the middle-class population in the Asia, MEA, and Latin America is resulting in the increasing market demand for the food and beverage and pharmaceutical products. Global natural flavor extract market is anticipated to register maximum growth rate over the forecast period by the Asian, MEA and Latin American region.
Plant based Fragrance Oil Market: Key Participants
Some of the market participants in the plant based fragrance oil market are:
- Axxence Aromatic Gmbh
- Aromantic Ltd
- BVM Fragrances Pvt. Ltd
- Alpha Aromatics
- Natures Flavors
- Natural Sourcing LLC
- Aromatics International
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3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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