| Product Code: ETC091363 | Publication Date: Jul 2023 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The India musk market import shipments exhibited a strong upward trend with a CAGR of 10.0% from 2020 to 2024. However, the growth rate experienced a significant decline of -30.9% between 2023 and 2024, indicating a sharp slowdown in the market expansion towards the end of the period.
The Outlook for the India musk market is positive. The demand for musk is expected to continue growing as it has numerous applications in perfumery, cosmetics, pharmaceuticals and food industries. Increasing consumer preference towards natural ingredients in beauty and personal care products are likely to drive the growth of the industry. Furthermore, rising awareness among consumers about their health benefits, such as anti-inflammatory properties and its ability to enhance libido will further contribute to accelerating sales.
Increasing awareness about health benefits associated with musk will be a major driver of growth within this segment. Growing consumer preferences towards natural ingredients used in beauty & personal care products are also likely to boost demand over the coming years. Additionally, booming e-commerce platforms dedicated solely to selling fragrances could help expand accessibility across different regions of India leading to more opportunities for manufacturers looking into expanding their business potential within this sector.
One challenge that may arise for manufacturers operating within this space include stringent regulatory requirements due to environmental concerns from animal harvesting practices being employed by some companies who source these materials directly from nature reserves or wildlife parks which could pose additional costs on production processes if not met accordingly. Moreover, availability of substitutes such as synthetic fragrances could potentially limit market penetration over time given their lower cost compared with those derived from organic sources like pure Musk oil extracted from deer glands found primarily in certain parts of Asia including India itself resulting into stiff competition amongst players within same space regionally speaking.
Some key players operating within Indiamusk markets include Synthite Industries Ltd., Srinivas Sugandhalaya LLP (SSLLP), Fragrance Manufacturer Private Limited (FMP), H&R Aromatics Pvt Ltd., Natural Aroma Solutions Private Limited (NASPL) etc
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Musk Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Musk Market Revenues & Volume, 2021 & 2031F |
3.3 India Musk Market - Industry Life Cycle |
3.4 India Musk Market - Porter's Five Forces |
3.5 India Musk Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 India Musk Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India Musk Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing disposable income of the middle-class population in India, leading to higher spending on luxury products like musk. |
4.2.2 Growing awareness about natural and organic products, driving the demand for musk as a natural fragrance ingredient. |
4.2.3 Rising popularity of aromatherapy and wellness trends, boosting the demand for musk-based products in India. |
4.3 Market Restraints |
4.3.1 Fluctuations in raw material prices impacting production costs of musk-based products. |
4.3.2 Stringent regulations and certifications required for sourcing and using musk in products, leading to compliance challenges for market players. |
4.3.3 Competition from synthetic fragrance alternatives affecting the market growth of natural musk products. |
5 India Musk Market Trends |
6 India Musk Market, By Types |
6.1 India Musk Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 India Musk Market Revenues & Volume, By Type, 2021-2031F |
6.1.3 India Musk Market Revenues & Volume, By Natural Musk, 2021-2031F |
6.1.4 India Musk Market Revenues & Volume, By Artificial Musk, 2021-2031F |
6.1.5 India Musk Market Revenues & Volume, By Synthetic Musk, 2021-2031F |
6.2 India Musk Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Musk Market Revenues & Volume, By Pharmacology, 2021-2031F |
6.2.3 India Musk Market Revenues & Volume, By Household Chemicals, 2021-2031F |
7 India Musk Market Import-Export Trade Statistics |
7.1 India Musk Market Export to Major Countries |
7.2 India Musk Market Imports from Major Countries |
8 India Musk Market Key Performance Indicators |
8.1 Consumer interest and engagement in musk-based products through social media mentions, online reviews, and brand interactions. |
8.2 Number of new product launches and innovations in the musk market segment, indicating market dynamism and growth potential. |
8.3 Market penetration in tier 2 and tier 3 cities in India, reflecting the expansion of the musk market beyond metropolitan areas. |
9 India Musk Market - Opportunity Assessment |
9.1 India Musk Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 India Musk Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India Musk Market - Competitive Landscape |
10.1 India Musk Market Revenue Share, By Companies, 2024 |
10.2 India Musk Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |