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Albert Roy
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October 29, 2020

Flavors And Fragrance Market Foreseen to Grow Exponentially over 2027

The Global Flavors & Fragrance Market is estimated to reach USD 26.9 Billion by 2027 at a CAGR of 2.5 %.

Flavors & fragrance are comparatively strong-smelling organic compounds and have pleasant odors. Thus, they are being used in flavoring food & beverage as well as perfumes and perfume products. Depending upon its use whether in flavor or the perfume in the particular product is called flavor and fragrance substance. Traditionally, herbs and spices were used for flavoring purposes, while today a broad spectrum of flavor and fragrance are used for individual households and production on an industrial scale. The application of all the products forms flavor & fragrance industry have aimed at enhancing the human striving for increased pleasure and sensual enjoyment.

Flavors & Fragrance Market: Drivers & Restraints

Market Drivers:

Increasing Demand for Natural Flavors & Fragrance

Awareness regarding the adverse effect of synthetic flavors such as butylated hydroxytoluene (BHT), benzophenone, butylated hydroxyanisole (BHA), acetaldehyde, and among others has increased the demand for natural ingredients. For instance, butylated hydroxytoluene is responsible for irritation to skin and eyes. Moreover, the demand for natural products has also attributed to desire form transparency in labeling, therefore, boosting the demand for flavors & fragrance. Thus, increasing demand for natural flavors & fragrance has expected exponential growth of the product market during the forecast period.

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Increasing Consumer Preference Towards Convenience Food

Convenience food is considered one of the biggest trends in the food business. The demand for convenience food products is steadily increasing owing to its remarkable properties such as reduce preparation time while some can be eaten immediately. These properties of convenience food have attributed its use in daily lifestyle. Flavors and fragrance are essential components for elevating customer interest in convenience food. However, rising preference for ready to eat food products along with rapidly increasing disposable income, and consumers gravitating towards convenience food has expected to boost the flavor and fragrance market.

Market Restraints:

Regulatory Standards Limiting the Availability of Raw Materials

Flavors & fragrances are used for the manufacturing of products for various industries such as cosmetics, soaps & detergents, and fine fragrances, among others. The CST s(crude sulphate turpentine), a by-product of the paper industry, is one of the vital source of raw materials for the fragrance industry. Its use is restricted due to environmental issues related to the use of wood pulp in the manufacture of paper. Strict safety norms and restricting the use of harmful chemicals either by government regulation or due to self-regulation by end-user industries have put restrictions on using raw materials. IFRA (International Fragrance Association), FDA (Food And Drug Association), and others are regulating the standards for use of flavors & fragrance in the products. Thus, different regulatory standards imposed are limiting the availability of raw materials.

Flavors & Fragrance Market: Key Segments

  • Based on Product Type: Natural, and Synthetic
  • Based on Application: Beverages, Dairy Foods, Bakery Foods, Confectionary, Fine Fragrances, Confectionery, Cosmetics & Toiletries, Soap & Detergents, and Others
  • Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

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Flavors & Fragrance Market: Report Scope

The report on the flavors & fragrance market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

List of the leading companies operating in the Flavors & Fragrance Market include:

  • Firmenich SA (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Givaudan
  • International Flavors & Fragrances Inc. (IFF)
  • Symrise
  • Takasago International Corporation
  • MANE
  • Sensient Technologies Corporation
  • ROBERTET
  • ADM
  • Hasegawa Inc.
  • Other Key Companies

Flavors & Fragrance Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Flavors & Fragrance Market, by Product Type

Synthetic

  • Essential Oil
  • Oleoresins
  • Others

Natural

  • Alcohol
  • Esters
  • Phenol
  • Aldehyde
  • Others

Flavors & Fragrance Market, by Application

  • Beverages
  • Dairy Foods
  • Bakery Foods
  • Confectionary
  • Fine Fragrances
  • Cosmetics & Toiletries
  • Soaps & Detergents
  • Others

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Flavors & Fragrance Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

  • What are the major developments impacting the global market and its growth?
  • What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
  • What are the evolving types of the global market?
  • What are the evolving applications of global market?
  • What are the major characteristics that will affect the global market growth during the study period?
  • Who are the key global players operating in the market?
  • How are the major players leveraging in the existing global market conditions?

Table of Content

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Increasing Demand for Natural Flavors & Fragrance
      2. Increasing Consumer Preference Towards Convenience Food
    3. Restraints
      1. Regulatory Standards Limiting the Availability of Raw Materials
    4. Opportunities
      1. Growing Demand From Emerging Economies
    5. Challenges
      1. Stringent Government Regulations
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. FLAVORS & FRAGRANCES MARKET BY PRODUCT TYPE, Market Size in USD Million (2019—2027)
    1. Introduction
    2. Synthetic
    3. Natural
  7. FLAVORS & FRAGRANCES MARKET BY APPLICATION, Market Size in USD Million (2019—2027)
    1. Introduction
    2. Beverages
    3. Dairy Foods
    4. Bakery Foods
    5. Confectionary
    6. Fine Fragrance
    7. Cosmetics & Toiletries
    8. Soaps & Detergents
    9. Others
  8. FLAVORS & FRAGRANCES MARKET BY REGION, Market Size in USD Million (2019—2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Spain
      6. The Netherlands
      7. Rest of Europe
    3. Asia-Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Taiwan
      6. Rest of Asia-Pacific
    4. Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  9. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  10. COMPANY PROFILES
    1. Firmenich SA
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. Givaudan
    3. International Flavors & Fragrances Inc (IFF)
    4. Symrise
    5. Takasago International Corporation
    6. MANE
    7. Sensient Technologies Corporation
    8. ROBERTET
    9. ADM
    10. T.Hasegawa Inc.
    11. Other Key Companies
  11. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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Albert Roy
October 29, 2020, 11:43
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