New study highlights how the fragrance industry adds socio-economic value in Asia and globally
2019年10月8日 - 4:30PM
JCN Newswire
Fragrance boosts the value of consumer goods such as perfumes,
cosmetics and cleaning products by up to ten times, according to a
new report.
'The Value of Fragrance' - a study conducted by professional
services firm PwC on behalf of The International Fragrance
Association (IFRA) - shows that the manufacturing of fragrance
ingredients alone adds EUR7.2bn to the global economy and is
responsible for between EUR48bn and EUR72bn in Value Added for 25
consumer product categories.
In the Asia-Pacific region, the fragrance industry contributes up
42% of worldwide Value Added**, with China the single largest
contributor globally* at EUR1.54bn (US$1.69bn). Singapore plays key
role as an R&D and innovation hub for the fragrance industry,
with direct Value Added of EUR227m (US$248m).
The IFRA President, Martina Bianchini, said:
"The fragrance industry may be relatively small, but it makes a big
impression. This report shows how we add significant economic value
to our suppliers and customers, as well as consumers, for whom
fragrance is a major factor in purchasing decisions.
But the report also shows our social value - supporting jobs and
sustaining communities in Asia and globally. Fragrance has the
power to make the difference - in every sense."
One of the innovations of the report is a mapping of the global and
complex 'fragrance value chain'. This chain begins with 3,000
suppliers of natural and synthetic raw materials, from smallhold
farmers to chemicals companies. It continues with an innovative
fragrance industry - represented globally by IFRA - that delivers
ingredients for use in fine fragrance, cosmetics and personal care
products, and household products and detergents.
Manufacturers of these products use a wide range of retail channels
to bring them to consumers, meeting people's emotional and
functional needs.
Rohaya Mamat, Regional Director of IFRA APAC, which is based in
Singapore, said:
"This report highlights the key role Singapore plays in a
sophisticated global fragrance value chain. We will continue to
work with stakeholders in Singapore and across the region to ensure
the safe use and enjoyment of fragrance and that our industry
continues to benefit our partners, our employees and
consumers."
The IFRA report, which covers Europe, the Middle East and Africa,
Asia-Pacific and Latin America, is based on data gathered and
analyzed by PwC for the year 2017.
To read the report and find out more, go to
ifrafragrance.org/value.
Note to Editors
The full report and additional information, including country- and
regional-level information as well as segmented information on
downstream industries, can be found at ifrafragrance.org/value.
* Excluding Canada and USA
** Excludes Value Added / Employment in Africa and the US generated
from supply chain spending
About The International Fragrance Association (IFRA)
The International Fragrance Association, founded in 1973,
represents the interests of the fragrance industry worldwide. IFRA
comprises seven multinational companies, 21 national associations
in four global regions representing hundreds of small and
medium-sized fragrance ingredient manufacturers, and seven
supporting members. Its mission is to promote the safe use of
fragrance for everyone's enjoyment.
Fragrances are a key platform technology used by consumer goods
companies - for fine fragrances, personal care products, household
care and more.
IFRA has a dual role as an advocate and a regulator. The IFRA Code
of Practice is the industry's flagship self-regulatory program and
includes the IFRA Standards, which apply safety management measures
based on scientific assessment and the evaluations of an
independent Expert Panel. For further information, please visit
ifrafragrance.org
Media enquiries
PRecious Communications
+65 6303 0567
ifra@preciouscomms.com
David O'Leary
IFRA Communications Director
+32 474 523 491
doleary@ifraorg.org
Source: IFRA
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