The proposals are being made by the EU's scientific committee on consumer safety which is made up over a dozen experts tasked, with among other things, bringing forward opinions on the health and safety risks of ingredients found in cosmetic products.
Stephen Weller, a spokesperson for the International Fragrance Association, told CBC News that if adopted, the changes could affect almost all of the world’s 9,000 perfume products.
"It would have a serious impact on fine fragrance in particular, but almost across the board almost every formula would have to be reformulated," Weller said.
The committee has also recommended an outright ban on tree moss and oak moss, an ingredient in the popular French perfume Chanel No. 5, once worn by the likes of Marilyn Monroe.
Consumer reporter Aaron Saltzman has the latest on the potential impact of the changes.