Market Overview:
The global flavors and fragrances market is expected to reach USD 24.27 billion by 2030, registering a CAGR of 5.1% during the forecast period 2018-2030. The market growth is attributed to the increasing demand for natural and organic flavors and fragrances, rising awareness about personal care products, and growing food & beverage industry across the globe. Based on type, the global flavors and fragrances market is segmented into formulated flavors & fragrances, essential oils, aroma chemicals, and other segments. The formulated flavors & fragrance segment accounted for a major share of the global market in 2017 owing to its wide application in various end-use industries such as personal care products, food & beverages etc. However; essential oils are projected to grow at a highest CAGR during 2018-2030 due to their increasing demand from aromatherapy applications across different regions worldwide. On basis of application type; personal care products accounted for majority share of total revenue generated by Flavors And Fragrance Market In 2017 followed by food& beverage industry globally .However; with increase in disposable income levels especially in developing countries such as India , China etc.,the other segments such as homecare productswill witness highest CAGR over next 10 years .Regionally Asia Pacific was observed as fastest growing region with 6%CAGRduring2018-2023and itisexpectedto maintain its dominance throughout forecast period .
Product Definition:
Flavor is the general name for all of the sensations that are perceived when we eat or drink something. These sensations can include sweetness, sourness, bitterness, saltiness, and umami. Fragrance is another name for what we smell. The importance of flavors and fragrances is that they contribute to our enjoyment of food and drinks. They can make foods taste more delicious or make them more appealing aromatically.
Formulated Flavors and Fragrances:
The global flavors and fragrances market is expected to grow at a significant rate over the forecast period. The key drivers of this market are increasing demand for personal care products, growing disposable income, changing lifestyle along with rapid urbanization. Flavors and fragrances industry has witnessed tremendous growth in the past few years owing to increased consumer spending on premium personal care products. This factor is anticipated to drive the market further during the forecast period.
Essential Oils:
Essential oils are volatile organic compounds, which are extracted from plants by distillation or as a result of direct extraction methods. These oils have a distinct aroma and offer unique flavors and fragrances. They possess antioxidant properties that help in the prevention of cellular damage caused by free radicals present in the body. Essential oils also help to improve blood circulation, immune system response, digestion problems along with providing relief from anxiety and stress related disorders.
Application Insights:
The personal care products segment accounted for the largest revenue share in 2017 and is projected to expand at a steady CAGR from 2018 to 2030. The growth can be attributed to increasing use of essential oils in various personal care products such as perfumes, soaps, shampoos, creams and lotions. Essential oils are also used in cosmetics and toiletries which include fragrances for hair & skin, colognes/perfumes for men and women respectively.
Food & beverages was the second largest application segment accounting for over 15% of the overall market share in 2017 due largely to growing use of flavored dairy products such as yogurts (in India), ice creams (in Europe) and cheese (in U.S.).
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well. This can be attributed to increasing demand for flavored and fragranced personal care products, coupled with rising consumer awareness regarding health and hygiene issues associated with regular use of tobacco-based scented products.
Asia Pacific is anticipated to witness significant growth over the coming years owing to rapid development of end-use industries in countries such as China, India, Japan, South Korea & Taiwan. In addition, growing population along with increased spending on luxury lifestyle goods by consumers from emerging economies including China and India are likely to drive regional product demand in this region during the forecast period.
Growth Factors:
- Increasing demand for flavors and fragrances in food and beverage industry
- Rising awareness about the benefits of using flavors and fragrances
- Growing popularity of natural flavors and fragrances
- Proliferation of new product launches with flavor and fragrance additives
- Increasing demand from emerging markets
Scope Of The Report
Report Attributes
Report Details
Report Title
Flavors and Fragrances Market Research Report
By Type
Formulated Flavors and Fragrances, Essential Oils, Aroma Chemicals, Other
By Application
Personal Care Products, Food & Beverages, Other
By Companies
Firmenich, Givaudan, International Flavors & Fragrances, Symrise, Takasago, International Flavors＆Fragrances, MANE, Robertet Group, Sensient Technologies Corporation, Firmenich
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
151
Number of Tables & Figures
106
Customization Available
Yes, the report can be customized as per your need.
Global Flavors and Fragrances Market Report Segments:
The global Flavors and Fragrances market is segmented on the basis of:
Types
Formulated Flavors and Fragrances, Essential Oils, Aroma Chemicals, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Personal Care Products, Food & Beverages, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Firmenich
- Givaudan
- International Flavors & Fragrances
- Symrise
- Takasago
- International Flavors＆Fragrances
- MANE
- Robertet Group
- Sensient Technologies Corporation
- Firmenich
Highlights of The Flavors and Fragrances Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Formulated Flavors and Fragrances
- Essential Oils
- Aroma Chemicals
- Other
- By Application:
- Personal Care Products
- Food & Beverages
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Flavors and Fragrances Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Flavors and fragrances are chemicals that are used to make products smell good.
Some of the major companies in the flavors and fragrances market are Firmenich, Givaudan, International Flavors & Fragrances, Symrise, Takasago, International Flavors＆Fragrances, MANE, Robertet Group, Sensient Technologies Corporation, Firmenich.
The flavors and fragrances market is expected to register a CAGR of 5.1%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Flavors and Fragrances Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Flavors and Fragrances Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Flavors and Fragrances Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Flavors and Fragrances Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Flavors and Fragrances Market Size & Forecast, 2020-2028
4.5.1 Flavors and Fragrances Market Size and Y-o-Y Growth
4.5.2 Flavors and Fragrances Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Formulated Flavors and Fragrances
5.2.2 Essential Oils
5.2.3 Aroma Chemicals
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Personal Care Products
6.2.2 Food & Beverages
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Flavors and Fragrances Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Flavors and Fragrances Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Formulated Flavors and Fragrances
9.6.2 Essential Oils
9.6.3 Aroma Chemicals
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Personal Care Products
9.10.2 Food & Beverages
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Formulated Flavors and Fragrances
10.6.2 Essential Oils
10.6.3 Aroma Chemicals
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Personal Care Products
10.10.2 Food & Beverages
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Formulated Flavors and Fragrances
11.6.2 Essential Oils
11.6.3 Aroma Chemicals
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Personal Care Products
11.10.2 Food & Beverages
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Formulated Flavors and Fragrances
12.6.2 Essential Oils
12.6.3 Aroma Chemicals
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Personal Care Products
12.10.2 Food & Beverages
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Formulated Flavors and Fragrances
13.6.2 Essential Oils
13.6.3 Aroma Chemicals
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Personal Care Products
13.10.2 Food & Beverages
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Flavors and Fragrances Market: Competitive Dashboard
14.2 Global Flavors and Fragrances Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Firmenich
14.3.2 Givaudan
14.3.3 International Flavors & Fragrances
14.3.4 Symrise
14.3.5 Takasago
14.3.6 International Flavors＆Fragrances
14.3.7 MANE
14.3.8 Robertet Group
14.3.9 Sensient Technologies Corporation
14.3.10 Firmenich
