Encapsulated Fragrances Market Forecast to 2028 - Global Analysis by Product Type and Application

List of Tables

The encapsulated fragrances market size is expected to grow from US$ 1.26 billion in 2022 to US$ 1.67 billion by 2028; it is estimated to record a CAGR of 4.7% from 2022 to 2028.

Rising demand for long lasting fragrances and surging demand for sustainable technology has surged innovations n encapsulated technology. Prominent players in the encapsulated technology are engaged in product launches with advanced technology to cater growing demand for sustainable products. For instance, in December 2021, Givaudan SA announced the launch of PlanetCaps, an encapsulated fragranced for laundry application. This encapsulated fragrance innovation enables long-lasting fragrance experiences in a bio-sourced and biodegradable system for fabric softeners. Additionally, in May 2022, Iberchem, announced the launch of its own biodegradable encapsulated fragrances capsules. This technology consists of minimum of 60% bio-based material. The launch was aimed to cater the growing demand for biodegradable encapsulated fragrances by various applications. Such development of sustainable encapsulation technology creates growth opportunity for the market. In addition, key players in the encapsulated fragrances market are engaged in developing research centers and investing for technology innovations. For instance, in December 2022, Givaudan SA opened integrated fragrance encapsulation center in Singapore. This center invested CHF 30 million in five-year program to support the development of encapsulation technology to cater the growing consumer demand for long-lasting fragrance experiences across various applications. Thus, rising innovation for encapsulated technology is likely to favor the growth of the encapsulated fragrances market in the coming years.

Based on product type, the global encapsulated fragrances market is segmented into fragrance blends, aroma chemicals, and others. The others segment is expected to grow at fastest rate during forecast period. Other encapsulated fragrance types are essential oil and natural extracts. Essential oil is one of the crucial assets in the cosmetic industry as it helps infuse pleasant fragrances in various products. It also acts as an active agent and offers ample benefits to the skin. Rising awareness regarding using natural ingredients has driven its use in various applications. A few highly valued essential oils as fragrances are lavender, floral oils, citrus, eucalyptus, and tea tree. In addition, citral, geraniol, linalool, citronellol, and limonene are other popular fragrances. The need for natural extracts fragrances has upsurged due to the rising demand for natural ingredients in various applications, including personal care products and cosmetics. Regulatory authorities such as the US Food and Drug Administration (FDA) and the European Union's Regulation (EC) No 1223/2009, have set guidelines for safe use of ingredients on cosmetics. Stringent government regulations on using some synthetic fragrances owing to health concerns associated with synthetic fragrances such as skin allergies have bolstered the demand for naturally extracted fragrances, positively impacting the encapsulated fragrances market growth for the others segment.

In 2022, North America held the largest revenue share of the global encapsulated fragrances market, owing to high demand for perfumes, deodorants, lotions, shampoo, and soaps with the increasing focus on personal hygiene, grooming, and appearance. The US dominated the North America encapsulated fragrances market. In the US, the demand for encapsulated fragrances is driven by the factors such as changing consumer preferences, increased demand for long-lasting-fragranced products, and advancements in encapsulation technology. Additionally, the rising popularity of personal care and cosmetics contributes to expanding encapsulated fragrances demand. According to the NPD Group, in the US, core-skincare product sales, including facial cleansers, creams, and serums, increased by 15-24% in 2021, while the whole skincare category grew by 18% in 2021. In the US, many industries have widely explored microencapsulation technology, including home care products. Home care and personal hygiene products usually contain biologically active, unstable ingredients sensitive to temperature, pH, light, and oxidation. These substances might undergo undesired reactions that lead to the reduction or loss of their effectiveness or even the degradation of cosmetic products during the manufacturing process. Encapsulation facilitates a prolonged duration of aroma sensations due to the controlled release of the fragrance. Hence, the benefits of encapsulated fragrances technology have resulted in increased incorporation of microencapsulated fragrances in-home care and personal hygiene products, thus boosting the encapsulated fragrances market growth.

The key players operating in the global encapsulated fragrances market include Firmenich SA.; Givaudan SA; Ingredion Inc; International Flavors & Fragrances Inc; MikroCaps doo; Symrise AG; Glatt GmbH; Insilico Medicine Inc; Follmann GmbH and Co KG, Inc.; and Ashland Inc. Players in the global encapsulated fragrances market focus on providing high-quality products to fulfill customer demand. For this, they invest significantly in research and development activities.

The overall global encapsulated fragrances market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the encapsulated fragrances market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, encapsulated fragrances market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the encapsulated fragrances market.

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Highlights key business priorities to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global encapsulated fragrances market, thereby allowing players to develop effective long-term strategies.
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Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Product Code: TIPRE00029947

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
- 1.2.1 Global Encapsulated Fragrances Market, by Product Type
- 1.2.2 Global Encapsulated Fragrances Market, by Application
- 1.2.3 Global Encapsulated Fragrances Market, by Geography

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study
- 3.1.1 Global Encapsulated Fragrances Market, by Product Type, and Application
3.2 Research Methodology
- 3.2.1 Data Collection:
- 3.2.2 Primary Interviews:
- 3.2.3 Hypothesis formulation:
- 3.2.4 Macro-economic factor analysis:
- 3.2.5 Developing base number:
- 3.2.6 Data Triangulation:
- 3.2.7 Country level data:

4. Global Encapsulated Fragrances Market Landscape

4.1 Market Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers:
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Overview:
- 4.3.2 Raw Material Suppliers:
- 4.3.3 Manufacturers
- 4.3.4 Distributors
- 4.3.5 End-User
4.4 Expert Opinion

5. Global Encapsulated Fragrances Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Rising Adoption of Encapsulated Fragrances from Various Applications
- 5.1.2 Strategic Initiatives by Key Market Players
5.2 Market Restraints
5.3 Market Opportunities
- 5.3.1 Rising Innovations in Encapsulation Technology
5.4 Future Trends
- 5.4.1 Increasing Demand for Natural Fragrances
5.5 Impact Analysis

6. Encapsulated Fragrances - Global Market Analysis

6.1 Global Encapsulated Fragrances Market Overview
6.2 Global Encapsulated Fragrances Market -Revenue and Forecast to 2028 (US$ Mn)
6.3 Global Encapsulated Fragrances Market -Volume and Forecast to 2028 (Kilotons)
6.4 Competitive Positioning - Key Market Players

7. Global Encapsulated Fragrances Market Analysis - By Product Type

7.1 Overview
7.2 Global Encapsulated Fragrances Market, By Product Type (2022 and 2028)
7.3 Fragrance Blends
- 7.3.1 Overview
- 7.3.2 Fragrance Blends: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)
- 7.3.3 Fragrance Blends: Global Encapsulated Fragrances Market -Volume and Forecast to 2028 (Kilotons)
7.4 Aroma Chemicals
- 7.4.1 Overview
- 7.4.2 Aroma Chemicals: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)
- 7.4.3 Aroma Chemicals: Global Encapsulated Fragrances Market -Volume and Forecast to 2028 (Kilotons)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)
- 7.5.3 Others: Global Encapsulated Fragrances Market -Volume and Forecast to 2028 (Kilotons)

8. Global Encapsulated Fragrances Market Analysis - By Application

8.1 Overview
8.2 Global Encapsulated Fragrances Market, By Application (2022 and 2028)
8.3 Perfumes and Fragrances
- 8.3.1 Overview
- 8.3.2 Perfumes and Fragrances: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Cleaning Products
- 8.4.1 Overview
- 8.4.2 Cleaning Products: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Cosmetics
- 8.5.1 Overview
- 8.5.2 Cosmetics: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)
8.6 Personal Hygiene Products
- 8.6.1 Overview
- 8.6.2 Personal Hygiene Products: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)
8.7 Food and Beverages
- 8.7.1 Overview
- 8.7.2 Food and Beverages: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)
8.8 Others
- 8.8.1 Overview
- 8.8.2 Others: Global Encapsulated Fragrances Market - Revenue and Forecast to 2028 (US$ Mn)

9. Global Encapsulated Fragrances Market - Geographic Analysis

9.1 Overview
9.2 North America: Global Encapsulated Fragrances Market
- 9.2.1 North America: Global Encapsulated Fragrances Market - Analysis and Forecast to 2028 (US$ Million)
- 9.2.2 North America: Global Encapsulated Fragrances Market, by Product Type
- 9.2.3 North America: Global Encapsulated Fragrances Market, by Application
- 9.2.4 North America: Global Encapsulated Fragrances Market, by Key Country
  - 9.2.4.1 US: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.2.4.1.1 US: Global Encapsulated Fragrances Market, by Product Type
    - 9.2.4.1.2 US: Global Encapsulated Fragrances Market, by Application
  - 9.2.4.2 Canada: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.2.4.2.1 Canada: Global Encapsulated Fragrances Market, by Product Type
    - 9.2.4.2.2 Canada: Global Encapsulated Fragrances Market, by Application
  - 9.2.4.3 Mexico: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.2.4.3.1 Mexico: Global Encapsulated Fragrances Market, by Product Type
    - 9.2.4.3.2 Mexico: Global Encapsulated Fragrances Market, by Application
9.3 Europe: Global Encapsulated Fragrances Market
- 9.3.1 Europe: Global Encapsulated Fragrances Market - Analysis and Forecast to 2028 (US$ Million)
- 9.3.2 Europe: Global Encapsulated Fragrances Market, by Product Type
- 9.3.3 Europe: Global Encapsulated Fragrances Market, by Application
- 9.3.4 Europe: Global Encapsulated Fragrances Market, by Key Country
  - 9.3.4.1 Germany: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.3.4.1.1 Germany: Global Encapsulated Fragrances Market, by Product Type
    - 9.3.4.1.2 Germany: Global Encapsulated Fragrances Market, by Application
  - 9.3.4.2 France: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.3.4.2.1 France: Global Encapsulated Fragrances Market, by Product Type
    - 9.3.4.2.2 France: Global Encapsulated Fragrances Market, by Application
  - 9.3.4.3 Italy: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.3.4.3.1 Italy: Global Encapsulated Fragrances Market, by Product Type
    - 9.3.4.3.2 Italy: Global Encapsulated Fragrances Market, by Application
  - 9.3.4.4 U.K: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.3.4.4.1 U.K: Global Encapsulated Fragrances Market, by Product Type
    - 9.3.4.4.2 U.K: Global Encapsulated Fragrances Market, by Application
  - 9.3.4.5 Russia: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.3.4.5.1 Russia: Global Encapsulated Fragrances Market, by Product Type
    - 9.3.4.5.2 Russia: Global Encapsulated Fragrances Market, by Application
  - 9.3.4.6 Rest of Europe: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.3.4.6.1 Rest of Europe: Global Encapsulated Fragrances Market, by Product Type
    - 9.3.4.6.2 Rest of Europe: Global Encapsulated Fragrances Market, by Application
9.4 Asia-Pacific: Global Encapsulated Fragrances Market
- 9.4.1 Asia-Pacific: Global Encapsulated Fragrances Market - Analysis and Forecast to 2028 (US$ Million)
- 9.4.2 Asia-Pacific: Global Encapsulated Fragrances Market, by Product Type
- 9.4.3 Asia-Pacific: Global Encapsulated Fragrances Market, by Application
- 9.4.4 Asia-Pacific: Global Encapsulated Fragrances Market, by Key Country
  - 9.4.4.1 Australia: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.4.4.1.1 Australia: Global Encapsulated Fragrances Market, by Product Type
    - 9.4.4.1.2 Australia: Global Encapsulated Fragrances Market, by Application
  - 9.4.4.2 China: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.4.4.2.1 China: Global Encapsulated Fragrances Market, by Product Type
    - 9.4.4.2.2 China: Global Encapsulated Fragrances Market, by Application
  - 9.4.4.3 India: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.4.4.3.1 India: Global Encapsulated Fragrances Market, by Product Type
    - 9.4.4.3.2 India: Global Encapsulated Fragrances Market, by Application
  - 9.4.4.4 Japan: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.4.4.4.1 Japan: Global Encapsulated Fragrances Market, by Product Type
    - 9.4.4.4.2 Japan: Global Encapsulated Fragrances Market, by Application
  - 9.4.4.5 South Korea: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.4.4.5.1 South Korea: Global Encapsulated Fragrances Market, by Product Type
    - 9.4.4.5.2 South Korea: Global Encapsulated Fragrances Market, by Application
  - 9.4.4.6 ASEAN: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.4.4.6.1 ASEAN: Global Encapsulated Fragrances Market, by Product Type
    - 9.4.4.6.2 ASEAN: Global Encapsulated Fragrances Market, by Application
  - 9.4.4.7 Rest of Asia-Pacific: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.4.4.7.1 Rest of Asia-Pacific: Global Encapsulated Fragrances Market, by Product Type
    - 9.4.4.7.2 Rest of Asia-Pacific: Global Encapsulated Fragrances Market, by Application
9.5 Middle East and Africa: Global Encapsulated Fragrances Market
- 9.5.1 Middle East and Africa: Global Encapsulated Fragrances Market - Analysis and Forecast to 2028 (US$ Million)
- 9.5.2 Middle East and Africa: Global Encapsulated Fragrances Market, by Product Type
- 9.5.3 Middle East and Africa: Global Encapsulated Fragrances Market, by Application
- 9.5.4 Middle East and Africa: Global Encapsulated Fragrances Market, by Key Country
  - 9.5.4.1 South Africa: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.5.4.1.1 South Africa: Global Encapsulated Fragrances Market, by Product Type
    - 9.5.4.1.2 South Africa: Global Encapsulated Fragrances Market, by Application
  - 9.5.4.2 Saudi Arabia: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.5.4.2.1 Saudi Arabia: Global Encapsulated Fragrances Market, by Product Type
    - 9.5.4.2.2 Saudi Arabia: Global Encapsulated Fragrances Market, by Application
  - 9.5.4.3 UAE: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.5.4.3.1 UAE: Global Encapsulated Fragrances Market, by Product Type
    - 9.5.4.3.2 UAE: Global Encapsulated Fragrances Market, by Application
  - 9.5.4.4 Rest of the Middle East and Africa: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.5.4.4.1 Rest of the Middle East and Africa: Global Encapsulated Fragrances Market, by Product Type
    - 9.5.4.4.2 Rest of the Middle East and Africa: Global Encapsulated Fragrances Market, by Application
9.6 South and Central America: Global Encapsulated Fragrances Market
- 9.6.1 South and Central America: Global Encapsulated Fragrances Market - Analysis and Forecast to 2028 (US$ Million)
- 9.6.2 South and Central America: Global Encapsulated Fragrances Market, by Product Type
- 9.6.3 South and Central America: Global Encapsulated Fragrances Market, by Application
- 9.6.4 South and Central America: Global Encapsulated Fragrances Market, by Key Country
  - 9.6.4.1 Brazil: Global Encapsulated Fragrances Market -Revenue and Forecast to 2028 (US$ Million)
  - 9.6.4.2 Brazil: Global Encapsulated Fragrances Market -Revenue and Forecast to 2028 (US$ Million)
    - 9.6.4.2.1 Brazil: Global Encapsulated Fragrances Market, by Product Type
    - 9.6.4.2.2 Brazil: Global Encapsulated Fragrances Market, by Application
  - 9.6.4.3 Argentina: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.6.4.3.1 Argentina: Global Encapsulated Fragrances Market, by Product Type
    - 9.6.4.3.2 Argentina: Global Encapsulated Fragrances Market, by Application
  - 9.6.4.4 Rest of South and Central America: Global Encapsulated Fragrances Market -Analysis and Forecast to 2028 (US$ Million)
    - 9.6.4.4.1 Rest of South and Central America: Global Encapsulated Fragrances Market, by Product Type
    - 9.6.4.4.2 Rest of South and Central America: Global Encapsulated Fragrances Market, by Application

10. Impact of COVID-19

10.1 Overview
10.2 Impact of COVID-19 on Global Encapsulated Fragrances Market
10.3 North America: Impact Assessment of COVID-19 Pandemic
10.4 Europe: Impact Assessment of COVID-19 Pandemic
10.5 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.6 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.7 South & Central America: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Overview
11.2 Expansion
11.3 New Product Development
11.4 Merger and Acquisition

12. Company Profiles

12.1 Firmenich SA
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Givaudan SA
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Ingredion Inc
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 International Flavors & Fragrances Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 MikroCaps doo
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Symrise AG
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Glatt GmbH
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Insilico Medicine Inc
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Follmann GmbH and Co KG
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Ashland Inc
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Glossary of Terms