Global fragrance fixatives market size will expand over 2022-2028 owing to heightened awareness about therapeutic effects boosting emotion and psychological well-being. Expansion of the cosmetic sector across advanced and emerging economies will foster the penetration globally.
The incorporation of fixatives has become noticeable into perfume compositions to impart longevity. The growth of essential oils and aroma chemicals will spur the consumption of fixatives across North America and Europe. Moreover, rising disposable incomes across Latin America and Asia Pacific will augur well for leading companies vying to expand their footprint. Industry players are likely to invest in customized perfumes as the standard of living continues to rise globally.
In terms of product, global fragrance fixatives market share from galaxolide segment will grow at a considerable CAGR during the forecast period 2022-2028. The growth could be attributed to the wide popularity of laundry soaps and body soap powders. Galaxolide will be popular across Asia Pacific due to its musky floral woody odor, among others. Cologne and perfume manufacturers are expected to underpin investments to boost their position in the industry.
Based on end-use, fine fragrances fixative could contribute notably to the global market due to the trend for perfumes among millennials and the gen Z population. Fine fragrance is likely to gain prominence with the soaring popularity of colognes and perfumes. Fragrances are receive impetus to build consumer confidence in the cleaning attributes of soap and other cosmetic products.
With respect to region, Asia Pacific fragrance fixatives market outlook will be strong on the back of the flourishing cosmetic sector in China, India, and Japan. Macroeconomic factors are expected to have a pivotal impact across Southeast Asian region as companies strive to boost their footprint. Recently, consumers have shown a profound inclination for organic and natural products that have spurred the demand for plant- and animal-based ingredients.
Global fragrance fixatives market share will be propelled with the presence of leading companies, including The Essential Oil Company, Paris Fragrances, Eastman Chemical, PFW Aroma Chemicals, Landmark Perfumes & Aromatics, Zaki, Tokos B.V., Lotioncreafter LLC, Synthodor Company and SVP Chemicals, among others. The competitive landscape suggests these companies could emphasize mergers & acquisitions, product launches, innovations, and partnerships.
In June 2021, Eastman joined hands with LVMH Perfumes & Cosmetics as the latter would develop packaging through molecular recycling technologies. With sustainable packaging solutions gaining prominence in the cosmetic industry, LVMH believes it could maintain the premier aesthetics and function that consumer anticipates.
The fallout of the coronavirus had a noticeable impact, from the shortage of raw materials to air traffic restrictions. In light of the same, advanced economies, such as the U.S. have been at the forefront to adopt touchless products, combining AI and safety. With home, body care, and hair care gaining considerable traction during the pandemic, the use of perfumes is adding value with the new concept of wellness. Perfume brands are likely to prioritize health benefits with the growing trend for natural products.
Advanced technologies are likely to be pivotal in the fragrance development process, auguring well for the global outlook. With fragrance being an affordable luxury during the pandemic, consumers are expected to exhibit a profound inclination for personal care products.