The Top 10 Flavor and Fragrance Companies: Emerging opportunities, growth strategies and financial performance

Date: October 22, 2009
Pages: 127
Price:
US$ 2,875.00
Publisher: Business Insights
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: T25DE5DAF57EN
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The Top 10 Flavor and Fragrance Companies: Emerging opportunities, growth strategies and financial performance
This report profiles the leading players in the global flavor and fragrance industry. Flavor is the sensory notion of a food or other substance, and is determined mainly by the sense of taste. Flavor companies produce and sell flavor compounds as well as flavor delivery technology that is used in foods and beverages. Hence, flavors are sold primarily to the food and beverage industries for use in a wide range of consumer products, including soft drinks, confectionery, bakery goods, desserts and prepared foods. Fragrances are designed to emit a pleasant aroma and are mostly used consumer products such as soaps, detergents, cosmetic creams, lotions and powders, lipsticks, after shave lotions, deodorants, hair preparations, candles, air fresheners and all purpose cleaners.

This report analyzes global flavor and fragrance industry in terms of market size (based of value), key drivers and resistors, industry trends and competitive positioning of the top 10 players in the global flavor and fragrance market. It includes profiles of the top ten companies in the industry and also involves brief write-up on other major players in the industry. The top 10 companies in the global flavor and fragrance industry were assessed on following parameters:

Each company’s financial performance in the global flavor and fragrances market;
Each company’s growth strategies and major acquisitions and divestments in this market;
Key partnerships and alliances formed by these companies;
Business-related strengths and weaknesses of these companies, and insights into the opportunities and threats facing them.

Key Benefits of this report

Learn from the strategies of the global flavor and fragrance companies to target future growth markets effectively, avoid their mistakes, replicate their successes and learn of the threats they face.

Benchmark your performance against the leading flavor and fragrance companies by comprehending their strategies.

Understand the major issues affecting the global flavor and fragrance market.

Predict the key growth areas in the global flavor and fragrance market arising from the change in consumers’ preferences and global recession.

Save time, money and resources on analyzing the performance of the key flavor and fragrance companies using this report.

Key findings from this report

The global flavor and fragrance market was valued at approximately $16bn in 2008. Business Insights anticipates that the value of global flavor and fragrance market will grow at a CAGR of 2.5% during 2008–13 to reach a total value of approximately $18bn in 2013.

Acquisitions have been ongoing in the industry for some years now creating a distinct two tier industry structure. The top ten players accounted for about 90.3% of the total market size in 2008 and smaller companies operating in niche and often domestic markets represent the remaining share.

Increasing demand for consumer products in emerging markets supported by rising disposable income will primarily drive demand for flavor and fragrance. Demand for differentiated products in developed markets such as natural and functional products will further increase consumption of flavor and fragrance as they serve as a key component to building product differentiation.

The limited market size coupled with the consolidated nature of the industry sets high barriers to entry in the industry. Substantial capital investment and R&D expenses as well as significant investment in quality assurance system further elevate barriers to entry.

T.Hasegawa was the only company among the top 10 players that registered a decline in CAGR of 2.3% during 2004–08. Shift in customer preference in end consumer products market in Japan swayed demand away from related flavor and fragrance, adversely impacting the financial performance of T.Hasegawa during 2004–08.

Burgeoning aging population in developed nations such as the US and Japan is driving the trend towards healthy lifestyle. In response to this trend, major flavor and fragrance companies are investing in the development of R&D capabilities in the field of natural ingredients applicable mostly in food and beverages, and cosmetic industries.

Key questions answered by this report

What was the market size of the global flavor and fragrance industry by value in 2008?
What will be the market size of the global flavor and fragrance industry during 2008-13?
What are the trends in the global flavor and fragrance industry?
Which geographies are expected to be the frontrunners in flavor and fragrance consumption through 2009-10?
Who are the top 10 players in the market?
What are the growth strategies of the top 10 companies?
What are the strengths of the top 10 players in the global flavor and fragrance industry?
What are the weaknesses of the top 10 players?
What are the growth opportunities for the global top 10 flavor and fragrance companies?
What are the problems faced by the global flavor and fragrance companies in the industry?
The Top 10 Flavor and Fragrance Companies
Executive summary
Industry overview
Givaudan
Firmenich
International Flavors & Fragrances (IFF)
Symrise
Takasago
Sensient
Mane
Frutarom
Robertet
T.Hasegawa

CHAPTER 1 INTRODUCTION

What is the report about?
Methodology

CHAPTER 2 INDUSTRY OVERVIEW

Summary
Introduction
Market dynamics
Global flavor and fragrance market size
Drivers and resistors
Competitive landscape
Competitive positioning of the top 10 flavor and fragrance companies
Trends
Expansion into emerging markets
The pace of consolidation will gain momentum
Shift towards natural flavor and fragrance

CHAPTER 3 GIVAUDAN

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Expansion in emerging markets
Strengthening R&D to attain competitive advantage
Investing in in-house R&D to drive growth in the long term
Alliances fostering development of new ingredients
Acquisitions and divestments
SWOT analysis

CHAPTER 4 FIRMENICH

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Expanding production capabilities
Strengthening R&D to drive growth through development of new ingredients
Acquisitions and divestments
SWOT analysis

CHAPTER 5 IFF

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Improving margins through cost reduction
Strengthening foothold in emerging markets
Acquisitions and divestments
SWOT analysis

CHAPTER 6 SYMRISE

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Investing in R&D to drive growth in the long term
Fortifying growth in potential sectors through partnerships and alliances
Investing in emerging markets to accelerate growth
Acquisitions and divestments
SWOT analysis

CHAPTER 7 TAKASAGO

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Strengthening R&D to deliver new flavors
Acquisitions and divestments
SWOT analysis

CHAPTER 8 SENSIENT

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Strengthen distribution network in and commercial presence in emerging markets
Improving margins through debt reduction
Acquisitions and divestments
SWOT analysis

CHAPTER 9 MANE

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Expanding in international markets to accelerate growth
Acquisitions and divestments
SWOT analysis

CHAPTER 10 FRUTAROM

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Expanding investments in R&D to drive long term growth
Acquisitions and divestments
SWOT analysis

CHAPTER 11 ROBERTET

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Investing in capacity expansion and emerging markets to accelerate its sales growth
Acquisitions and divestments
SWOT analysis

CHAPTER 12 T.HASEGAWA

Summary
Company overview
Recent financial performance
Performance by business segments
Growth strategies
Penetrate new and under-represented sectors in Japan to drive growth
Investing in facility expansion outside Japan
Acquisitions and divestments
SWOT analysis

CHAPTER 13 OTHER MAJOR PLAYERS

Soda Aromatic
Company overview
Recent financial performance
Ogawa
Company overview
Recent financial performance
Agilex Flavors and Fragrances (Agilex)
Company overview
Cargill Flavor Systems
Company overview
Recent financial performance
Bell Flavors and Fragrances
Company overview
Huabao International (Huabao)
Company overview
Recent financial performance
Etol
Company overview
Recent financial performance
Mastertaste
Company overview
China Flavors and Fragrances (CFF)
Company overview
Recent financial performance
Wanxiang International (Wanxiang)
Company overview
Recent financial performance

CHAPTER 14 APPENDIX

Glossary
Index

LIST OF FIGURES

Figure 2.1: Global flavor and fragrance market size ($bn), 2008–13
Figure 2.2: Flavor and fragrance industry drivers and resistors
Figure 2.3: Top 10 flavor and fragrance companies market share, 2008
Figure 2.4: Performance of top 10 flavor and fragrance companies, 2004–08
Figure 3.5: Givaudan financial performance ($m), 2004–08
Figure 3.6: Givaudan SWOT analysis
Figure 4.7: Firmenich financial performance ($m), 2004–08
Figure 4.8: Firmenich SWOT analysis
Figure 5.9: IFF financial performance ($m), 2004–08
Figure 5.10: IFF SWOT analysis
Figure 6.11: Symrise financial performance ($m), 2004–08
Figure 6.12: Symrise SWOT analysis
Figure 7.13: Takasago financial performance ($m), 2004–08
Figure 7.14: Takasago SWOT analysis
Figure 8.15: Sensient financial performance ($m), 2004–08
Figure 8.16: Sensient SWOT analysis
Figure 9.17: Mane financial performance ($m), 2004–08
Figure 9.18: Mane SWOT analysis 84
Figure 10.19: Frutarom financial performance ($m), 2004–08
Figure 10.20: Frutarom’s SWOT analysis
Figure 11.21: Robertet financial performance ($m), 2004–08
Figure 11.22: Robertet SWOT analysis
Figure 12.23: T.Hasegawa financial performance ($m), 2004–08
Figure 12.24: T.Hasegawa SWOT analysis
Figure 13.25: Soda Aromatic financial performance ($m), 2004–08
Figure 13.26: Cargill financial performance ($m), 2004–08
Figure 13.27: Huabao financial performance ($m), 2005–08
Figure 13.28: Etol financial performance ($m), 2006–08
Figure 13.29: CFF financial performance ($m), 2004–08

LIST OF TABLES

Table 2.1: Global flavor and fragrance market size ($bn), 2008–13
Table 2.2: Performance of top 10 flavor and fragrance companies, 2004–08
Table 2.3: Select investment in emerging markets by flavor and fragrance companies, 2007–09
Table 2.4: Select acquisitions in flavor and fragrance industry, 2007–09
Table 3.5: Givaudan snapshot
Table 3.6: Givaudan financial performance ($m), 2004–08
Table 3.7: Givaudan business segment performance ($m), 2008
Table 3.8: Givaudan partnership and alliances, 2007–09
Table 4.9: Firmenich snapshot
Table 4.10: Firmenich financial performance ($m), 2004–08
Table 5.11: IFF snapshot
Table 5.12: IFF financial performance ($m), 2004–08
Table 5.13: IFF business segment performance ($m), 2008
Table 6.14: Symrise snapshot
Table 6.15: Symrise financial performance ($m), 2004–08
Table 6.16: Symrise business segment performance ($m), 2008
Table 6.17: Symrise partnerships and alliances, 2007–09
Table 6.18: Symrise investment in emerging markets, 2007–09
Table 6.19: Symrise acquisitions, 2007–09
Table 7.20: Takasago snapshot
Table 7.21: Takasago financial performance ($m), 2004–08
Table 7.22: Takasago business segment performance ($m), 2008
Table 8.23: Sensient snapshot
Table 8.24: Sensient financial performance ($m), 2004–08
Table 8.25: Sensient business segment performance ($m), 2008
Table 9.26: Mane snapshot
Table 9.27: Mane financial performance ($m), 2004–08
Table 9.28: Mane business segment performance ($m), 2008
Table 10.29: Frutarom snapshot
Table 10.30: Frutarom financial performance ($m), 2004–08
Table 10.31: Frutarom business segment performance ($m), 2008
Table 10.32: Frutarom acquisitions, 2007–09
Table 11.33: Robertet snapshot
Table 11.34: Robertet financial performance ($m), 2004–08
Table 11.35: Robertet business segment performance ($m), 2008
Table 12.36: T.Hasegawa snapshot
Table 12.37: T.Hasegawa financial performance ($m), 2004–08
Table 12.38: T.Hasegawa business segment performance ($m), 2008
Table 13.39: Soda Aromatic snapshot
Table 13.40: Soda Aromatic financial performance ($m), 2004–08
Table 13.41: Ogawa snapshot
Table 13.42: Agilex snapshot
Table 13.43: Cargill Flavor Systems snapshot
Table 13.44: Cargill financial performance ($m), 2004–08
Table 13.45: Bell Flavors and Fragrances snapshot
Table 13.46: Huabao snapshot
Table 13.47: Huabao financial performance ($m), 2005–08
Table 13.48: Etol snapshot
Table 13.49: Etol financial performance ($m), 2006–08
Table 13.50: Mastertaste snapshot
Table 13.51: CFF snapshot
Table 13.52: CFF financial performance ($m), 2004–08
Table 13.53: Wanxiang snapshot
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