Flavors And Fragrances Market - Forecasts from 2019 to 2024
The global flavors and fragrances market is projected to grow at a CAGR of 5.45%, to reach a market size of US$39.209 billion in 2024, from US$28.515 billion in 2018. The flavors and fragrances have become an integral part of different products with application ranging from food and beverages to household care and toiletries. Rapid urbanization, focus towards a healthier lifestyle and increasing application of flavors and fragrances are some of the major factors driving this market. Furthermore, the budding food and beverage, chemical and pharmaceutical industries are also projected to augment this demand in the coming years. Asia Pacific is expected to hold a significant share in the global market owing to the budding FMCG market in the region and is projected to see multiple growth opportunities during the forecast period.
DRIVERS
Growing food and beverage industry
Budding usage in chemicals and pharmaceuticals industry
RESTRAINTS
Restrictions towards the use of synthetic flavors and fragrances
INDUSTRY UPDATE
In July 2019, Givaudan, a leading flavors and fragrances manufacturer, inaugurated its new flagship Innovation Center in Kemptthal, Switzerland. The company invested CHF120 million, which is the company’s largest investment to date.
In June 2019 International Flavors and Fragrances Inc., completed the acquisition of Wiberg Corporation, Inc., an Austrian company specializing in savory flavor solutions.
The major players profiled in the Flavors and Fragrances market include Truly Opto- Electronics Ltd., Excelitas Technologies Corp., Delo, and LG Innotek among others.
Segmentation
The flavors and fragrances market has been analyzed through the following segments:
By Form
Natural
Synthetic
By Type
Flavors
Fragrance
By Raw Materials
Essential Oils
Aroma Chemicals
Others
By Application
Flavors
Food
Beverages
Pharmaceutical
Fragrances
Dish and Laundry Detergents
Skin and Hair Care Products
Perfumes
Household Care
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
India
Others
DRIVERS
Growing food and beverage industry
Budding usage in chemicals and pharmaceuticals industry
RESTRAINTS
Restrictions towards the use of synthetic flavors and fragrances
INDUSTRY UPDATE
In July 2019, Givaudan, a leading flavors and fragrances manufacturer, inaugurated its new flagship Innovation Center in Kemptthal, Switzerland. The company invested CHF120 million, which is the company’s largest investment to date.
In June 2019 International Flavors and Fragrances Inc., completed the acquisition of Wiberg Corporation, Inc., an Austrian company specializing in savory flavor solutions.
The major players profiled in the Flavors and Fragrances market include Truly Opto- Electronics Ltd., Excelitas Technologies Corp., Delo, and LG Innotek among others.
Segmentation
The flavors and fragrances market has been analyzed through the following segments:
By Form
Natural
Synthetic
By Type
Flavors
Fragrance
By Raw Materials
Essential Oils
Aroma Chemicals
Others
By Application
Flavors
Food
Beverages
Pharmaceutical
Fragrances
Dish and Laundry Detergents
Skin and Hair Care Products
Perfumes
Household Care
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
India
Others
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. FLAVORS AND FRAGRANCES MARKET BY FORM
5.1. Natural
5.2. Synthetic
6. FLAVORS AND FRAGRANCES MARKET BY TYPE
6.1. Flavors
6.2. Fragrance
7. FLAVORS AND FRAGRANCES MARKET BY RAW MATERIALS
7.1. Essential Oils
7.2. Aroma Chemicals
7.3. Others
8. FLAVORS AND FRAGRANCES MARKET BY APPLICATION
8.1. Flavors
8.1.1. Food
8.1.2. Beverages
8.1.3. Pharmaceutical
8.2. Fragrances
8.2.1. Dish and Laundry Detergents
8.2.2. Skin and Hair Care Products
8.2.3. Perfumes
8.2.4. Household Care
8.2.5. Others
9. FLAVORS AND FRAGRANCES MARKET BY GEOGRAPHY
9.1. North America
9.1.1. USA
9.1.2. Canada
9.1.3. Mexico
9.2. South America
9.2.1. Brazil
9.2.2. Argentina
9.2.3. Others
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. United Kingdom
9.3.4. Spain
9.3.5. Others
9.4. Middle East and Africa
9.4.1. Saudi Arabia
9.4.2. Israel
9.4.3. Others
9.5. Asia Pacific
9.5.1. China
9.5.2. Japan
9.5.3. India
9.5.4. Others
10. COMPETITIVE INTELLIGENCE
10.1. Competitive Benchmarking and Analysis
10.2. Recent Investments and Deals
10.3. Strategies of Key Players
11. COMPANY PROFILES
11.1. Givaudan
11.2. Firmenich
11.3. International Flavors & Fragrances Inc
11.4. Symrise
11.5. Takasago International Corporation
11.6. MANE
11.7. Frutarom Industries Ltd
11.8. Sensient Flavors
11.9. The Robertet Group
11.10. Huabao International Holdings Limited
11.11. BASF SE
LIST OF FIGURES
LIST OF TABLES
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. FLAVORS AND FRAGRANCES MARKET BY FORM
5.1. Natural
5.2. Synthetic
6. FLAVORS AND FRAGRANCES MARKET BY TYPE
6.1. Flavors
6.2. Fragrance
7. FLAVORS AND FRAGRANCES MARKET BY RAW MATERIALS
7.1. Essential Oils
7.2. Aroma Chemicals
7.3. Others
8. FLAVORS AND FRAGRANCES MARKET BY APPLICATION
8.1. Flavors
8.1.1. Food
8.1.2. Beverages
8.1.3. Pharmaceutical
8.2. Fragrances
8.2.1. Dish and Laundry Detergents
8.2.2. Skin and Hair Care Products
8.2.3. Perfumes
8.2.4. Household Care
8.2.5. Others
9. FLAVORS AND FRAGRANCES MARKET BY GEOGRAPHY
9.1. North America
9.1.1. USA
9.1.2. Canada
9.1.3. Mexico
9.2. South America
9.2.1. Brazil
9.2.2. Argentina
9.2.3. Others
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. United Kingdom
9.3.4. Spain
9.3.5. Others
9.4. Middle East and Africa
9.4.1. Saudi Arabia
9.4.2. Israel
9.4.3. Others
9.5. Asia Pacific
9.5.1. China
9.5.2. Japan
9.5.3. India
9.5.4. Others
10. COMPETITIVE INTELLIGENCE
10.1. Competitive Benchmarking and Analysis
10.2. Recent Investments and Deals
10.3. Strategies of Key Players
11. COMPANY PROFILES
11.1. Givaudan
11.2. Firmenich
11.3. International Flavors & Fragrances Inc
11.4. Symrise
11.5. Takasago International Corporation
11.6. MANE
11.7. Frutarom Industries Ltd
11.8. Sensient Flavors
11.9. The Robertet Group
11.10. Huabao International Holdings Limited
11.11. BASF SE
LIST OF FIGURES
LIST OF TABLES
