Flavours & fragrances are one of the most basic raw ingredients in many products. Some of the major application areas of flavours & fragrances are a beverage, dairy, bakery, flavour modifier, pharmaceutical & medical care, savoury, personal care, home care, air care and pet care. Flavours & fragrances are either natural or chemical and are increasingly used in different products. The global Flavors & fragrances market reached a market valuation of USD XX.X Billion in 2020 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2021- 2026.
Growth Drivers – Flavors & fragrances Market
Growing Food & Beverage Industry
Food & beverage industry is the leading consumer of flavours & fragrances. Coffee, bear, dairy, bakery and flavour modifiers are some key examples of uses of flavour & fragrances in the food & beverage industry. In addition to this, the growing market of packaged food & beverage has bolstered the demand for flavours and fragrances. Current trends indicate that better flavour & fragrance with edible items positively impact consumers’ acceptability. Apart from this, love for nature and natural ingredients among consumers have strengthened in recent years, and this rise in consumer interest in natural ingredients is likely to bolster the growth of flavours & fragrances market in the upcoming years.
Growing Consumption in Cosmetic and Toiletry Industry
Fragrances play an important role in purchasing of cosmetic and toiletry products. Fragrances have become a level of quality standard in cosmetic and toiletry products. Premium quality cosmetic and toiletry products acquire great fragrance as compared to ordinary products, which results in strong appreciation among consumer for premium products. However, companies of all sizes are opting to add fragrances in their cosmetic and toiletry products to make them more desirable among buyers.
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Trends – Flavors & fragrances Market
Exploration of New Flavors and Fragrances
Leading fragrance and flavour companies are continuously spending capital to explore new flavours & fragrances. Companies are trying to introduce new and better flavours & fragrance to stay ahead in the market.
The flavors & fragrances market is segmented in different categories including by source, and by the application. The market is segmented by source into natural and synthetic. Among this segment, the synthetic fragrance and flavors segment is expected to capture significant shares of the market in 2020. Global synthetic flavors & fragrances segment was totaled at USD XXX.X billion in 2021 and is projected to reach USD XXX.X billion in 2026 at a CAGR of XX.X% from 2021 to 2026.
Moreover, based on the application, the Flavors & fragrances market is further sub-segmented into flavors (confectionary, convenience foods, bakery food, dairy food, beverages, and others) and fragrances (Fine Fragrances, Cosmetics and Toiletries, Soaps & Detergents and Others)
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific holds the significant share in the global flavors & fragrances market. Increased demand from food processing, pharmaceuticals, dietary supplements, and nutraceuticals industry. Changing consumer preference coupled with demand for exotic scents is likely to boost regional demand in the coming years.
The report also covers detailed competitive analysis of major market players of the global Flavors & fragrances market, such as Givaudan, Firmenich, International Flavors & Fragrances, Symrise, Takasago, Sensient, Mane, Robertet, T.Hasegawa, Frutarom, and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
- - Confectionary
- - Convenience Foods
-- Bakery Food
- - Dairy Food
- - Others
- - Fine Fragrances
- - Cosmetics and Toiletries
-- Soaps & Detergents
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as
-International Flavors & Fragrances
-Other Notable Players
The study also provides a company’s positioning and market share in Flavors & fragrances market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2021 to 2026: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Flavors & fragrances market by the following segments:
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Flavors & fragrances Industry Report
-What is the overall market size in 2020? What will be the market growth during the forecast period i.e. 2021- 2026?
-Which region would have high demand for product in the upcoming years?
-What are the factors driving the growth of the market?
-Which sub- market will make the most significant contribution to the market?
-What are the market opportunities for existing and entry- level players?
-What are various long- term and short- term strategies adopted by the market players?