According to a Technavio article on Cision, the fragrance ingredients market is poised to grow by USD 2.83 billion during 2021-2025, progressing at a CAGR of 3.90% during the forecast period.
A fragrance ingredients market report mentioned on the site, covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.
The report identifies growing demand for cosmetic products as one of the major factors driving the growth of the market. In addition, the growing demand for detergents and surging growth in the pulp and paper industry will further fuel the market’s growth.
However, side-effects of fragrance ingredients and the rising price of the raw material hinder the market growth, states the article.