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Taiwan Fragrance Ingredients Market by Type (Natural Ingredients and Synthetic Ingredients) and Application (Hair Care, Personal Care, Fabric Care, and Others): Opportunity Analysis and Industry Forecast 2021–2030

A12191
Pages: 145
Jul 2021 | 322 Views
   
Author(s) : Snehal Mohite, Pratik Mandon , Eswara Prasad
Tables: 75
Charts: 50
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COVID-19

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Taiwan Fragrance Ingredients Market Outlook 2021–2030

The Taiwan fragrance ingredients market size was valued at $5.9 million in 2020, and is projected to reach $7.7 million by 2030, growing at a CAGR of 2.74% from 2021 to 2030.

Fragrance ingredients products are used for hand sanitizers, cleaning agents, and personal care products, which have been gaining major demand during this pandemic.

Fragrance is a broad term that refers to a variety of components that are used to create a scent. A perfume is made up of aromatic chemicals, essential oils, solvents, and fixatives. Perfume ingredient chemicals are complicated mixtures of manufactured and/or natural components used to give products a distinct aroma. These ingredients consist of natural and synthetic materials. Soaps and detergents, cosmetics and toiletries, fine perfumes, domestic products including incense sticks, scouring cleaners, candles, and woodwork, as well as aromatherapy and pesticides, all use fragrance ingredients.

Taiwan-Fragrance-Ingredients-Market-2021-2030

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The expansion of the Taiwan fragrance ingredients market is fueled by an increase in the use of personal care products, a rise in the consumption of eco-friendly, natural, and custom-made scents, and government-supported R&D activities. In addition, aromatherapy is becoming more popular as people's living standards improve, which is another element fueling the expansion of the fragrance components chemicals industry. However, the market's expansion is hampered by rising manufacturing costs and the negative side effects of chemical components in perfumes, such as skin disorders and allergies. In the next years, however, continued product advancements and an increase in product ads across multiple social media platforms will generate new opportunities.

The Taiwan fragrance ingredients market is segmented on the basis of type and application. By type, the market is classified into natural ingredients and synthetic ingredients. According to application, it is divided into hair care, personal care, fabric care, and others.

The manufacturers studied and profiled in the Taiwan fragrance ingredients market are Arkema, BASF SE, Dow, Eastman Chemical Company, Firmenich International SA, Fine Fragrances Private Limited., Givaudan, International flavor & fragrances Inc., LG Chem Ltd., Mane SA, Morimura Bros. Inc., Soda Aromatics Co. Ltd., Symrise, Taiwan Tekho Fine-Chem Co. Ltd., and Takasago International Corporation.

Taiwan fragrance ingredients market, by type

By type, the synthetic ingredients segment dominated the market and accounted for one-third share of the fragrance ingredients market in 2020, and is expected to retain its dominance throughout the forecast period. Synthetic fragrances are stronger than natural aromas. In composition, they are often more flexible than natural varieties, which are often limited to florals, musk, and botanicals, and thus are majorly preferred by the end users.

Taiwan Fragrance Ingredients Market
By Type

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Synthetic Ingredients is projected as the most lucrative segment.

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Taiwan fragrance ingredients market, by application

By application, personal care segment held a significant share in the Taiwan fragrance ingredients market in 2020. Rise in brand consciousness among individuals is one of the most crucial factors that propels the demand for fragrances in the market.

Taiwan Fragrance Ingredients Market
By Application

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Personal Care is projected as the most lucrative segment.

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Key Benefits For Stakeholders

  • The report provides an in-depth analysis of the Taiwan fragrance ingredients market forecast along with the current and future market trends.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the Taiwan fragrance ingredients industry for strategy building.
  • A comprehensive Taiwan fragrance ingredients market analysis covers factors that drive and restrain market growth.
  • The qualitative data in this report aims on market dynamics, trends, and developments.

Impact of Corona (COVID19) outbreak on the Taiwan fragrance ingredients market

  • COVID-19 has spread across the globe and has affected almost all aspects of life.
  • There is an uneven impact of COVID-19 pandemic on the fragrance ingredients market, owing to implementation of lockdowns worldwide to halt spread of the virus. This resulted in shutting off of almost all operations, manufacturing, and distribution of all industries.
  • This has resulted in decrease in demand for cosmetic products from beauty shops, which, in turn, has led to declined growth of the market.
  • Increase in demand for personal care & cosmetic products (sanitizers, soaps, and disinfectants) and other home cleaning chemicals also boost the growth of the fragrance ingredients market, which, in turn, tends to overcome effects of COVID-19 on this sector.
  • Numerous beauty manufacturers, ingredient suppliers, and allies along the value chain are affected by the pandemic, owing to travel restrictions and slow export-import activities. Moreover, revenue of retailers and salons & spas is also hampered by the virus spread. 
  • The demand-supply gap, disruptions in raw material procurement, price volatility, and many other such factors are expected to hamper the growth of the chemical industry during the COVID-19 pandemic.
  • The COVID-19 crisis has affected the chemical industry supply chain to a major extent; thus, having a major impact on raw material procurement.

Key Market Segments

By Type

  • Natural Ingredients
  • Synthetic Ingredients

By Application

  • Hair care 
  • Personal Care
  • Fabric care 
  • Others
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research

1.5.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top investment pockets

3.3.Porter’s five forces analysis
3.4.Market dynamics

3.4.1.Drivers

3.4.1.1.Rise in use of personal care products
3.4.1.2.Rise in disposable income and changes in the standard of living
3.4.1.3.Increase in consumption of natural fragrance ingredients

3.4.2.Restraint

3.4.2.1.Side-effects of synthetic ingredients

3.4.3.Opportunity

3.4.3.1.Opportunities in consumer goods industries

3.5.Impact of government rules and regulations
3.6.Impact of Corona (COVID19) outbreak on the fragrance ingredients market
3.7.Outlook of Chemicals Raw Materials Market

3.7.1.Whitening Ingredients
3.7.2.Anti-Aging Ingredients
3.7.3.Anti-Wrinkle Ingredients

CHAPTER 4:FRAGRANCE INGREDIENTS MARKET, BY TYPE

4.1.Overview

4.1.1.Market size and forecast

4.2.Natural Ingredients

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, 2021-2030 ($Million)

4.2.2.1.Flower Based
4.2.2.2.Fruit Based
4.2.2.3.Wood Based
4.2.2.4.Spice Based

4.2.3.Market size and forecast, by natural ingredients

4.3.Synthetic Ingredients

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, 2021-2030 ($Million)

4.3.2.1.Esters
4.3.2.2.Aldehydes
4.3.2.3.Alcohols
4.3.2.4.Musk Chemicals
4.3.2.5.Terpenes

4.3.3.Market size and forecast, by synthetic ingredients

CHAPTER 5:FRAGRANCE INGREDIENTS MARKET, BY APPLICATION

5.1.Overview

5.1.1.Market size and forecast

5.2.Hair care

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, 2021-2030 ($Million)

5.3.Personal care

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, 2021-2030 ($Million)

5.4.Fabric care

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, 2021-2030 ($Million)

5.5.Others

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, 2021-2030 ($Million)

CHAPTER 6:COMPETITIVE LANDSCAPE

6.1.Introduction

6.1.1.Market player positioning, 2020

6.2.Top winning strategies

6.2.1.Top winning strategies, by year
6.2.2.Top winning strategies, by development
6.2.3.Top winning strategies, by company

6.3.Product mapping of top 10 player
6.4.Competitive heatmap
6.5.Key developments

6.5.1.New product launches
6.5.2.Expansions
6.5.3.Mergers and acquisition
6.5.4.Collaboration
6.5.5.Partnership
6.5.6.Agreement

CHAPTER 7:COMPANY PROFILES:

7.1.ARKEMA S.A.

7.1.1.Company overview
7.1.2.Key executives
7.1.3.Company snapshot
7.1.4.Operating business segments
7.1.5.Product portfolio
7.1.6.Business performance

7.2.BASF SE

7.2.1.Company overview
7.2.2.Company snapshot
7.2.3.Operating business segments
7.2.4.Product portfolio
7.2.5.Business performance

7.3.THE DOW CHEMICAL COMPANY

7.3.1.Company overview
7.3.2.Company snapshot
7.3.3.Operating business segments
7.3.4.Product portfolio
7.3.5.Business performance

7.4.EASTMAN CHEMICAL COMPANY

7.4.1.Company overview
7.4.2.Company snapshot
7.4.3.Operating business segments
7.4.4.Product portfolio
7.4.5.Business performance
7.4.6.Key strategic moves and developments

7.5.FIRMENICH INTERNATIONAL SA

7.5.1.Company overview
7.5.2.Company snapshot
7.5.3.Product portfolio
7.5.4.Business performance
7.5.5.Key strategic moves and developments

7.6.FINE FRAGRANCES PRIVATE LIMITED

7.6.1.Company overview
7.6.2.Company snapshot
7.6.3.Product portfolio

7.7.GIVAUDAN SA

7.7.1.Company overview
7.7.2.Company snapshot
7.7.3.Operating business segments
7.7.4.Product portfolio
7.7.5.Business performance
7.7.6.Key strategic moves and developments

7.8.INTERNATIONAL FLAVORS & FRAGRANCES INC.

7.8.1.Company overview
7.8.2.Key executives
7.8.3.Company snapshot
7.8.4.Operating business segments
7.8.5.Product portfolio
7.8.6.Business performance
7.8.7.Key strategic moves and developments

7.9.LG CHEM LTD.

7.9.1.Company overview
7.9.2.Company snapshot
7.9.3.Operating business segments
7.9.4.Product portfolio
7.9.5.Business performance

7.10.MANE

7.10.1.Company overview
7.10.2.Key executives
7.10.3.Company snapshot
7.10.4.Operating business segments
7.10.5.Product portfolio
7.10.6.Business performance
7.10.7.Key strategic moves and developments

7.11.MORIMURA BROS. INC.

7.11.1.Company overview
7.11.2.Company snapshot
7.11.3.Product portfolio

7.12.SODA AROMATIC CO., LTD.

7.12.1.Company overview
7.12.2.Company snapshot
7.12.3.Product portfolio

7.13.SYMRISE

7.13.1.Company overview
7.13.2.Key executives
7.13.3.Company snapshot
7.13.4.Operating business segments
7.13.5.Product portfolio
7.13.6.Business performance
7.13.7.Key strategic moves and developments

7.14.TAIWAN TEKHO FINE-CHEM CO., LTD.

7.14.1.Company overview
7.14.2.Company snapshot
7.14.3.Product portfolio

7.15.TAKASAGO INTERNATIONAL CORPORATION

7.15.1.Company overview
7.15.2.Company snapshot
7.15.3.Operating business segments
7.15.4.Product portfolio
7.15.5.Business performance

LIST OF TABLES

TABLE 01.TAIWAN FRAGRANCE INGREDIENTS MARKET, BY TYPE, 2021–2030 (TONS)
TABLE 02.TAIWAN FRAGRANCE INGREDIENTS MARKET, BY TYPE, 2021–2030 ($MILLION)
TABLE 03.TAIWAN NATURAL FRAGRANCE INDREGIENTS MARKET, BY TYPE, 2021–2030(TONS)
TABLE 04.TAIWAN NATURAL FRAGRANCE INDREGIENTS MARKET, BY TYPE, 2021–2030($MILLION)
TABLE 05.TAIWAN SYNTHETIC INGREDIENTS INDREGIENTS MARKET, BY TYPE, 2021–2030(TONS)
TABLE 06.TAIWAN SYNTHETIC INGREDIENTS INDREGIENTS MARKET, BY TYPE, 2021–2030($ MILLION)
TABLE 07.FRAGRANCE INGREDIENTS MARKET REVENUE, BY APPLICATION, 2021–2030, ($MILLION)
TABLE 08.FRAGRANCE INGREDIENTS MARKET, BY APPLICATION, 2021–2030 ($TONS)
TABLE 09.FRAGRANCE INGREDIENTS MARKET, BY APPLICATION, 2021–2030 ($MILLION)
TABLE 10.KEY NEW PRODUCT LAUNCHES (2017-2021)
TABLE 11.KEY EXPANSIONS (2017-2021)
TABLE 12.KEY MERGERS AND ACQUISITION (2017-2021)
TABLE 13.KEY COLLABORATION (2017-2021)
TABLE 14.KEY PARTNERSHIP (2017-2021)
TABLE 15.KEY AGREEMENT (2017-2021)
TABLE 16.ARKEMA: KEY EXECUTIVES
TABLE 17.ARKEMA: COMPANY SNAPSHOT
TABLE 18.ARKEMA: OPERATING SEGMENTS
TABLE 19.ARKEMA: PRODUCT PORTFOLIO
TABLE 20.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 21.BASF SE: COMPANY SNAPSHOT
TABLE 22.BASF SE: OPERATING SEGMENTS
TABLE 23.BASF SE: PRODUCT PORTFOLIO
TABLE 24.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 25.THE DOW CHEMICAL COMPANY: COMPANY SNAPSHOT
TABLE 26.THE DOW CHEMICAL COMPANY: OPERATING SEGMENTS
TABLE 27.THE DOW CHEMICAL COMPANY: PRODUCT PORTFOLIO
TABLE 28.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 29.EASTMAN: COMPANY SNAPSHOT
TABLE 30.EASTMAN: OPERATING SEGMENTS
TABLE 31.EASTMAN: PRODUCT PORTFOLIO
TABLE 32.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 33.EASTMAN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 34.FIRMENICH: COMPANY SNAPSHOT
TABLE 35.FIRMENICH: PRODUCT PORTFOLIO
TABLE 36.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 37.FIRMENICH: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 38.FINE FRAGRANCES: COMPANY SNAPSHOT
TABLE 39.FINE FRAGRANCES: PRODUCT PORTFOLIO
TABLE 40.GIVAUDAN: COMPANY SNAPSHOT
TABLE 41.GIVAUDAN: OPERATING SEGMENTS
TABLE 42.GIVAUDAN: PRODUCT PORTFOLIO
TABLE 43.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 44.GIVAUDAN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 45.IFF: KEY EXECUTIVES
TABLE 46.IFF: COMPANY SNAPSHOT
TABLE 47.IFF: OPERATING SEGMENTS
TABLE 48.IFF: PRODUCT PORTFOLIO
TABLE 49.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 50.IFF: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 51.LG CHEM LTD.: COMPANY SNAPSHOT
TABLE 52.LG CHEM LTD.: OPERATING SEGMENTS
TABLE 53.LG CHEM LTD.: PRODUCT PORTFOLIO
TABLE 54.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 55.MANE: KEY EXECUTIVES
TABLE 56.MANE: COMPANY SNAPSHOT
TABLE 57.MANE: OPERATING SEGMENTS
TABLE 58.MANE: PRODUCT PORTFOLIO
TABLE 59.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 60.SYMRISE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 61.MORIMURA BROS. INC.: COMPANY SNAPSHOT
TABLE 62.MORIMURA BROS. INC.: PRODUCT PORTFOLIO
TABLE 63.SODA AROMATICS CO., LTD.: COMPANY SNAPSHOT
TABLE 64.SODA AROMATICS CO., LTD.: PRODUCT PORTFOLIO
TABLE 65.SYMRISE: KEY EXECUTIVES
TABLE 66.SYMRISE: COMPANY SNAPSHOT
TABLE 67.SYMRISE: OPERATING SEGMENTS
TABLE 68.SYMRISE: PRODUCT PORTFOLIO
TABLE 69.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 70.SYMRISE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 71.TAIWAN TEKHO FINE-CHEM CO., LTD.: COMPANY SNAPSHOT
TABLE 72.TAIWAN TEKHO FINE-CHEM CO., LTD.: PRODUCT PORTFOLIO
TABLE 73.TAKASAGO: COMPANY SNAPSHOT
TABLE 74.TAKASAGO: OPERATING SEGMENTS
TABLE 75.TAKASAGO: PRODUCT PORTFOLIO
TABLE 76.OVERALL FINANCIAL STATUS ($MILLION)

LIST OF FIGURES

FIGURE 01.FRAGRANCE INGREDIENTS MARKET SEGMENTATION
FIGURE 02.TOP INVESTMENT POCKETS, BY APPLICATION (2020)
FIGURE 03.LOW BARGAINING POWER OF SUPPLIERS
FIGURE 04.MODERATE BARGAINING POWER OF BUYERS
FIGURE 05.MODERATE THREAT OF NEW ENTRANTS
FIGURE 06.MODERATE THREAT OF SUBSTITUTES
FIGURE 07.HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 08.FRAGRANCE INGREDIENTS MARKET DYNAMICS
FIGURE 09.FRAGRANCE INGREDIENTS MARKET REVENUE, BY TYPE 2021–2030, ($MILLION)
FIGURE 10.TAIWAN FRAGRANCE INGREDIENTS MARKET FOR NATURAL INGREDIENTS, 2021-2030 ($MILLION)
FIGURE 11.TAIWAN FRAGRANCE INGREDIENTS MARKET FOR SYNTHETIC INGREDIENTS, 2021-2030 ($MILLION)
FIGURE 12.TAIWAN FRAGRANCE INGREDIENTS MARKET FOR HAIR CARE, 2021-2030 ($MILLION)
FIGURE 13.TAIWAN FRAGRANCE INGREDIENTS MARKET FOR PERSONAL CARE, 2021-2030 ($MILLION)
FIGURE 14.TAIWAN FRAGRANCE INGREDIENTS MARKET FOR FABRIC CARE, 2021-2030 ($MILLION)
FIGURE 15.TAIWAN FRAGRANCE INGREDIENTS MARKET FOR OTHERS, 2021-2030 ($MILLION)
FIGURE 16.MARKET PLAYER POSITIONING, 2020
FIGURE 17.TOP WINNING STRATEGIES, BY YEAR, 2017-2021
FIGURE 18.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2017-2021 (%)
FIGURE 19.TOP WINNING STRATEGIES, BY COMPANY, 2017-2021
FIGURE 20.PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 21.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 22.ARKEMA: NET SALES, 2018–2020 ($MILLION)
FIGURE 23.ARKEMA: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 24.ARKEMA: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 25.BASF SE: NET SALES, 2018–2020 ($MILLION)
FIGURE 26.BASF SE: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 27.BASF SE: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 28.THE DOW CHEMICAL COMPANY: REVENUE, 2018–2020 ($MILLION)
FIGURE 29.THE DOW CHEMICAL COMPANY: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 30.THE DOW CHEMICAL COMPANY: REVENUE SHARE, BY REGION, 2020 (%)
FIGURE 31.EASTMAN: NET SALES, 2018–2020 ($MILLION)
FIGURE 32.EASTMAN: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 33.EASTMAN: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 34.FIRMENICH: NET SALES, 2018–2020 ($MILLION)
FIGURE 35.GIVAUDAN: NET SALES, 2018–2020 ($MILLION)
FIGURE 36.GIVAUDAN: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 37.GIVAUDAN: REVENUE SHARE, BY REGION, 2020 (%)
FIGURE 38.IFF: REVENUE, 2018–2020 ($MILLION)
FIGURE 39.IFF: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 40.IFF: REVENUE SHARE, BY REGION, 2020 (%)
FIGURE 41.LG CHEM LTD: REVENUE, 2018–2020 ($MILLION)
FIGURE 42.INTEL CORPORATION: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 43.INTEL CORPORATION: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 44.MANE: NET SALES, 2017–2019 ($MILLION)
FIGURE 45.MANE: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 46.SYMRISE: NET SALES, 2018–2020 ($MILLION)
FIGURE 47.SYMRISE: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 48.SYMRISE: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 49.TAKASAGO: REVENUE, 2018–2020 ($MILLION)
FIGURE 50.TAKASAGO: REVENUE SHARE, BY REGION, 2020 (%)

 
 

According to CXOs of leading companies in the market, increase in importance and surge in awareness regarding aromatherapy, owing to improved living standards boosts the market growth.

Asia-Pacific has emerged as a lucrative region for investors, owing to high growth rate, in terms of revenue. For instance, increase in demand for natural ingredients from various consumers across Taiwan drives growth of the fragrance ingredients market.

Moreover, stringent government regulations toward synthetic/chemical based personal care products has enforced industries and manufacturers to adopt natural ingredients, which, in turn, drives the demand for natural ingredients. Furthermore, owing to the COVID-19 pandemic, there is a huge effect on the production of fragrance ingredients. Thus, this is expected to affect the growth of the market in the next one or two years.

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FREQUENTLY ASKED QUESTIONS?
Our Report Looks Like This
 

A. Product innovation strategies with regards to cosmetics and toiletries is driving the overall perfume ingredients market.

A. The Taiwan fragrance ingredients market anticipated to grow at CAGR of 2.74% during the forecast period.

A. The trend for natural fragrances and increased spending on fragrant cosmetics is driving the growth of fragrance ingredients market.

A. Firmenich International SA, Fine Fragrances Private Limited., Givaudan, International flavor & fragrances Inc., LG Chem Ltd., Mane SA, Morimura Bros. Inc., Soda Aromatics Co. Ltd., Symrise are the leading players in Taiwan fragrance ingredients market.

A. New product launches, business expansions, and acquisition are the major growth strategies adopted by the players in this market.

A. The market players are adopting various growth strategies and also investing in R&D extensively to develop unique products which are expected to drive the market size.

A. Synthetic Ingredients is the largest segment in the Taiwan fragrance ingredients market.

A. Major customer of the fragrance ingredients are from hair care, personal care, and fabric care sectors are the key potential consumers in the Taiwan fragrance ingredients market.

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