Global Flavors and Fragrances Market by Application (Fragrances, Flavors), by Product (Aroma, Natural) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global flavors and fragrances sales were valued at USD 20.75 Billion in 2018. They are expected to grow at a 4.7% CAGR over the forecast period. The growth is expected to be driven by rising demand from the application industries, such as food, beverages and cosmetics.

The food and beverage industry will experience a significant CAGR during the forecast period. This is due to growing demand for juices and snacks, processed foods, ready-to-eat meals and other beverages. U.S. and U.K. are mature markets that have seen a strong demand for personal care products made primarily with natural ingredients.

Market growth is expected to be driven by a growing demand for personal care products and food and beverage. In the coming years, there will be an increase in demand for flavors in pharmaceutical, and dietary supplements. Natural flavoring ingredients will be more popular due to the rising trend in health and well-being.

The demand for soaps, detergents, and toiletries is expected to rise as a result of the rising disposable income in emerging economies. In the near future, this factor will drive the market. Natural fragrances are safer, more effective, and more therapeutic than synthetic ones. Due to rising demand for organic ingredients in the food and personal care sectors, natural flavor and fragrance ingredients will continue to expand rapidly. Natural fragrance manufacturers often charge a premium for their products.

As synthetic fragrances are longer lasting, have strong fragrances, and allow for greater creativity, the demand is expected to grow. Synthetic fragrances are also less expensive than natural ones. The growth of the fragrance market is expected to be influenced by the increasing number of retail outlets, new product launches, as well as the economic price of personal care products.

The irreversible substitution by synthetics of essential oils is possible due to irregular supply. This is a serious problem, especially for perfume oils. There is a wide range of essential oils products, which can lead to huge differences in the prices. The demand for natural products will continue to rise due to rising preference for organic and natural ingredients.

Product Insights

The largest market share for aroma chemicals is expected to be held over the forecast period. The fragrance industry is expected to account for the majority of demand. In 2018, the demand for esters was estimated at USD 5.73 trillion. The demand for esters was valued at USD 5.73 billion in 2018. Over the forecast period, aroma chemicals will be in high demand due to increased R&D investment.

The fastest growing segment in the forecast period is expected to be the natural sector. The future growth is expected to be driven by a shift towards natural products in developed countries. Essential oil will be the fastest-growing product category during the forecast period. Natural essential oils are on the rise due to increased demand for them in natural cosmetics, aromatherapy and pharmaceuticals. The demand for functional fragrances that have a higher odor value and are made with natural oils is expected to rise in developed countries.

Application Insights

The highest projected CAGR for fragrances is expected to be over the forecast period. Growth is expected to be boosted by increased investment in product development to meet demand from the personal care, automotive, pharmaceutical and hospitality industries.

Artificial flavors made from synthetic chemicals are typically cheaper than natural chemicals. Because they have been tested thoroughly and are used, they may be safer. For example, the flavor and fragrance of vanilla is due to the compound vanillin. The forecast period will see a rise in demand for authentic aromas within the hospitality and food industry.

Segment growth is expected to be boosted by the increasing use of flavorings in many foods and beverages, both domestically and commercially. In the next few years, the highest CAGR is expected to be seen in beverage flavors. The market is expected to grow with new product launches and increased demand for functional drinks and juices.

Regional Insights

Asia Pacific will see the highest CAGR at 6.7% over the forecast period due to increased demand from various industries and availability of raw materials. Due to the increased demand for food processing, pharmaceuticals and nutraceuticals, the flavors segment will see growth. In the coming years, regional demand will rise due to changing consumer preferences and increased demand for exotic scents.

In 2018, North America held 24.0% market share. The market is expected to grow at a rate of 2.9% during the forecast period. Due to the increased demand for fragrance products, such as personal care, home care, therapy and oral care products, the segment is expected to expand. Europe and North America are expected to see growth due to the concentration of cosmetics industry in these regions.

Market Share in Flavors and Fragrances

For better market access, manufacturers have integrated production and distribution channels. Many companies are vertically integrated, and offer products for multiple applications. Manufacturers must adhere to all manufacturing and labeling regulations and guidelines issued by regulatory agencies such as the Food and Drug Administration (FDA), U.S. Department of Agriculture, Health Canada, European Food Safety Authority and World Health Organization (WHO).

To gain an edge on the market, manufacturers can also get certifications like ISO, Halal, Kosher, Halal. The financial and operational conditions of raw material suppliers and manufacturers are greatly affected by the activities of end-users.

The Report Covers Certain Segments

This report predicts revenue growth at the country, regional, and global levels. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research has divided the global flavor and fragrances market report by product, region, and application.

• Product Outlook (Revenue USD Million, 2014-2025 )

  • Nature

    • Essential Oils

      • Orange

        • Limonene

        • Myrcene

        • Other

      • Corn Mint

        • Menthol

        • Menthone

        • Other

      • Eucalyptus

        • Eucalyptol

        • Limonene

        • Other

      • Pepper Mint

        • Menthol

        • Menthone

        • Other

      • Lemon

        • Pinene

        • Limonene

        • Camphene

    • Oleoresins

    • Paprika

      • Piperine

      • Other

    • Black Pepper

      • Piperine

      • Other

    • Turmeric

      • Curcumin

      • Other

    • Ginger

    • Gingerol

    • Other

    • Other

  • Aroma Chemicals

    • Esters

      • Ethyl Acetate

      • Benzyl Acetate

      • Ethyl Benzoate

      • Methyl Decanoate

      • Other

    • Alcohol

      • Lauryl alcohol

      • Menthol

      • Other

    • Aldehyde

      • Benzaldehyde

      • Vanillin

      • Other

    • Phenol

      • Ethylvanillin

      • Other

    • Other

• Application Outlook (Revenue USD Million, 2014-2025 )

  • Flavors

    • Confectionary

    • Convenience Foods

    • Bakery Food

    • Dairy Food

    • Beverages

    • Other

  • Fragrances

    • Fine Fragrances

    • Cosmetics and Toiletries

    • Soaps & Detergents

    • Other

• Regional Outlook (Revenue USD Million, 2014-2025 )

  • North America

    • U.S

  • Europe

    • Germany

    • The U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Middle East & Africa

    • Saudi Arabia

  • Central and South America

    • Brazil

These are the most frequently asked questions about this report

b. Global flavors and fragrances markets were valued at USD 21.9 billion in 2019, and are expected to grow to USD 22.90 in 2020.

b. Global flavors and fragrances markets are expected to expand at a compound annual rate of 5.1% between 2019-2027, to reach USD 32.6 million by 2027.

b. With a 74% share in 2019, Aroma Chemicals dominated flavors and fragrances. This can be attributed to growing concern over fitness and well-being among all ages.

b. IFF, Givaudan and Takasago are some of the key players in the flavor and fragrances market. Symrise AG, Vigon International, In. Other players

b. b.

Up Market Research published a new report titled “Flavors and Fragrances Market research report which is segmented by Application (Fragrances, Flavors), by Product (Aroma, Natural), By Players/Companies In and others, Takasago, Givaudan, IFF, BASF SE; Symrise AG; Vigon International”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Flavors and Fragrances Market Report Segments:

The market is segmented by Application (Fragrances, Flavors), by Product (Aroma, Natural).

Flavors and Fragrances Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Flavors and Fragrances Market

Overview of the regional outlook of the Flavors and Fragrances Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Flavors and Fragrances Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Flavors and Fragrances Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Fragrances

                2. Flavors

                1. Aroma

                2. Natural

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. 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 2028.

How you may use our products:

• Correctly Positioning New Products
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Reasons to Purchase the Flavors and Fragrances Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.