Encapsulated Fragrances Market is expected to reach US$ 1,670.65 million by 2028

Strategic Initiatives by Key Companies Drives Encapsulated Fragrances Market

According to our latest study on “Encapsulated Fragrances Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and Geography,” the Encapsulated Fragrances Market size is expected to grow from US$ 1,265.06 million in 2022 to US$ 1,670.65 million by 2028; it is estimated to register a CAGR of 4.7% from 2022 to 2028. The report highlights key factors driving the encapsulated fragrances market growth and prominent players along with their developments in the market.

Encapsulated fragrance manufacturers worldwide invest significantly in strategic development initiatives such as product launches, mergers and acquisitions, and business expansions to attract consumers and enhance their market position. Local and international players are advancing and launching new products to cater to the rising demand for encapsulated fragrances in various applications. Moreover, product innovations and developments allow them to achieve sustainable growth and distinguish themselves from competitors present in the market. In December 2021, Givaudan SA announced the launch of PlanetCaps, an encapsulated fragrance innovation that ensures a long-lasting fragrance experience in a bio-sourced and biodegradable delivery system for fabric softeners. With this launch, the company aims to expand its product portfolio and boost sustainability. In November 2020, Firmenich launched the world's first AI-augmented laundry care fragrances. The launch was aimed to cater to the needs of a wide range of businesses manufacturing liquid detergents, fabric sprays, and powder detergents. 

Global Encapsulated Fragrances Market Breakdown – by Region

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Companies enter into partnership agreements to distribute their products and expand their geographic reach. In January 2022, Givaudan acquired 48% of Nanovetores Group in Brazil. The acquisition was aimed to strengthen its encapsulation capabilities for active cosmetic ingredients. Further, key players in the encapsulated fragrances market are investing in research and development for technology advancement to cater to the elevating consumer demand for long-lasting fragrances. For instance, in December 2022, Givaudan SA opened its first integrated fragrance encapsulation center in Singapore. Thus, such strategic initiatives by key market players drive the growth of the encapsulated fragrances market.
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 are the key players operating in the global encapsulated fragrances market.  

Impact of COVID-19 Pandemic on Global Encapsulated Fragrances Market Growth 

The COVID-19 pandemic adversely impacted the global economy and slowed down the growth of various industries in 2020. The shutdown of manufacturing plants and factories in major regions, such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa, adversely affected the international supply chains and hampered the manufacturing operations, delivery schedules, and goods sales. Further, various companies announced possible delays in product deliveries and a slump in sales of their products. Various end-use industries, such as perfumes & fragrances, personal hygiene products, and cosmetics were severely hit by the pandemic. In addition, the global travel bans imposed by countries in Europe, Asia Pacific, and North America affected business collaborations and partnership opportunities. Logistics constraints, manpower shortages, low demand, and government restrictions caused a temporary shutdown of businesses and led to elevated prices of raw materials. However, the resurgence of various industries after the gradual resolution of supply constraints resulted in the revival of the demand for encapsulated fragrances. In 2021, the increase in COVID-19 vaccination efforts and economic recovery reflected in the rise in industrial activities worldwide. Further, consumers’ inclination toward maintaining personal hygiene and cleanliness during the pandemic triggered the demand for personal care and house cleaning products, which benefitted the encapsulated fragrance market on the demand side.   

The "Global Encapsulated Fragrances Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the global encapsulated fragrances market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The global encapsulated fragrances market is divided on the basis of product type and application. Based on product type, the encapsulated fragrances market is segmented into fragrance blends, aroma chemicals, and others. Based on application, the market is segmented into perfumes and fragrances, cleaning products, cosmetics, personal hygiene products, food and beverages, and others. By geography, the global encapsulated fragrances market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America encapsulated fragrances market is further segmented into the US, Canada, and Mexico. The Europe encapsulated fragrances market is sub segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific encapsulated fragrances market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The encapsulated fragrances market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America encapsulated fragrances market is further categorized into Brazil, Argentina, and the Rest of South & Central America.

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