Natural Fine Ingredients Market - Forecasts from 2019 to 2024

The natural fine ingredients market is projected to grow at a CAGR of 6.48% to reach US$7.437 billion in 2024 from US$5.102 billion in 2018. Natural fine ingredients refer to naturally sourced ingredients implemented for various purposes. These ingredients are of various forms such as distillates, botanical extracts, essential oils, aroma chemicals, etc. these ingredients are used for various purposes such as aromatherapy, food coloring, flavor additives, cosmetics, fragrances, etc. The high consumption of personal care products is considered one of the drivers for the natural fine ingredients market globally, on the other hand, stringent government regulations requiring multiple test studies on natural ingredients to ensure their safety may hinder its growth.

The natural fine ingredients market has been segmented on the basis of type, application, and geography. Geographically the Asia Pacific region is estimated to have a high market growth for the natural fine ingredients market due to the rise in disposable income as well as rapid urbanization of previously low-income sections along with improvement in the food and beverage as well as the cosmetic industry in the regions. In North America as well as the European region it is projected that these regions will hold a significant hold in the market during the forecasted time period due to high consumption of food, beverages, as well as personal care products along with the recent trends of using holistic, clean and natural products.

Drivers

Increase in consumption of products containing natural fine ingredients
Rising global disposable income
Increase in the consumption of personal care products
Rising awareness of health concerns caused by artificial ingredients
Restraints

Stringent government regulations
High R&D and Production costs of natural fine ingredients

Industry Update

In October 2018, global colors company Roha, subsidiary of JJT Group made the change from using natural ingredients instead of synthetic ingredients

Major industry players profiled as part of the report are International Flavors and Fragrances Inc., Sandream Impact LLC, JJT Group, Barrington Nutritionals. Applied Food Sciences, Inc., Watson Inc., Jiaherb, INC., Sabinsa Corporation, Perrigo Company plc, and Fairchem Speciality Limited among others.

Segmentation

The Natural fine ingredients market has been analyzed through the following segments:

By Type

Aroma Chemicals
Distillates
Botanical Extracts
Essential Oils
Others

By Application

Beverages
Cosmetics
Processed food
Hygiene Products
Others

By Geography

North America
USA
Canada
Mexico
Others

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others