At 4.7% CAGR, the Europe Encapsulated Fragrances Market is projected to be worth US$ 485.66 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe encapsulated fragrances market was valued at US$ 369.20 million in 2022 and is expected to reach US$ 485.66 million by 2028, registering a CAGR of 4.7% from 2022 to 2028. Strategic initiatives by key market players and rising adoption of encapsulated fragrances from various applications are the critical factors attributed to the Europe encapsulated fragrances market expansion.

Encapsulated fragrances manufacturers worldwide invest significantly in strategic development initiatives such as product launched, merger and acquisition, and business expansion to attract consumers and enhance their product position. Local and international players are advancing and launching new products to cater to the rising demand for encapsulated fragrances in various applications. For instance, in December 2021, Givaudan SA announced the launch of PlanetCaps, a fragrance encapsulated innovation which ensures long lasting fragrance experience in a bio-sourced and biodegradable delivery system for fabric softeners. The launch was aimed to expand its product portfolio and boost the sustainability. Further, key players in the encapsulated fragrances market are investing in research and development for technology advancement to cater growing consumer demand for long-lasting fragrances. Thus, such strategic initiatives by key market players drive the growth of the Europe encapsulated fragrances market.  

On the contrary, high costs associated with encapsulation technology hurdles the growth of Europe encapsulated fragrances market.

Based on product type, the Europe encapsulated fragrances market is segmented into fragrance blends, aroma chemicals, and others. The others segment held 43.9% share of Europe encapsulated fragrances market in 2022, amassing US$ 162.07 million. It is projected to garner US$ 219.79 million by 2028 to expand at 5.2% CAGR during 2022–2028.

Based on application, the Europe encapsulated fragrances market is segmented into perfumes and fragrances, cleaning products, cosmetics, personal hygiene products, food and beverages, and others. The cleaning products segment held 58.3% share of Europe encapsulated fragrances market in 2022, amassing US$ 215.40 million. It is projected to garner US$ 288.39 million by 2028 to expand at 5.0% CAGR during 2022–2028.

Based on country, the Europe encapsulated fragrances market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 21.6% share of Europe encapsulated fragrances market in 2022. It was assessed at US$ 79.57 million in 2022 and is likely to hit US$ 105.71 million by 2028, exhibiting a CAGR of 4.8% during 2022–2028.

Key players profiled in the Europe encapsulated fragrances market Ashland Inc; Firmenich SA; Follmann GmbH & Co KG; Givaudan SA; Glatt GmbH; Ingredion Inc; International Flavors & Fragrances Inc; MikroCaps doo; and Symrise AG, among others.

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