According to Stratistics MRC, the Global Flavors and Fragrances market is expected to grow from $21.01 billion in 2017 to reach $28.97 billion by 2026 with a CAGR of 3.6%. Increasing demand for natural flavors and fragrances, growing demand for consumer products and raise in per capita spending on food and consumer products in emerging countries are some of the key factors boosting the market growth. However, compliance with quality and regulatory standards is inhibiting the market growth.
Flavors and fragrances are vital components of different customer goods and packaged foods. Natural and synthetic essence compositions make the cool mint flavor of toothpaste, the cinnamon aroma of pumpkin lattes and the cherry taste of cherry cola. Moreover, fragrance compositions add the fresh smell of pine to exotic top notes to fine perfumes and household cleaning products.
Based on Ingredients, Natural ingredients segment witnessed the significant growth. It is extracted from plants and animal sources. Growing availability of natural ingredients and increasing awareness among consumers towards healthier lifestyles are the major factors driving the market for natural ingredients. Asia Pacific is estimated to be the largest market during the forecast period owing to the increasing population and rapid urbanization. In addition, rise in per capita spending on consumer products in high-growth economies will drive the Asia-Pacific region.
Some of the key players in the Flavors and Fragrances Market include Robertet, Firmenich, Frutarom, Takasago, International Flavors & Fragrances, Symrise, Sensient, Givaudan, Archer Daniels Midland, Ogawa & Co., Ltd., Kerry, Bell Flavors & Fragrances, BASF SE and Cargill Inc.
- Natural Ingredients
- Synthetic Ingredients
- Aroma Chemicals
- Natural Flavors & Fragrances
End Users Covered:
- Dairy Products
- Consumer Products
- Savory & Snacks
- Fine Fragrances
- Other End Users
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends.
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements.