The global flavours and fragrances market is expected to develop at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030, with a value of USD 29.20 billion in 2021. Due to an increase in demand for antiperspirants, perfumes, cleansers, creams, baby powders, and hair oils, individual attention is a vital application component. The growing demand for car and room revitalizers, as well as the increasing prevalence of fragrance-based treatments, are predicted to propel the market for scent fixes forward. Following the global pandemic, there has been a greater focus on cleanliness products, which has propelled the need for new and imaginative scents in hand washes, sanitizers, and floor cleaners.
An increase in the popularity of ready-to-eat suppers and low-cost meals is a major driver for the global food taste sector. In addition, innovative technologies, the presentation of new flavours, and a large inflow of interest in R&D projects are all factors that contribute to the development of flavour products. An increase in health consciousness suggests that a trend of using traditional flavours is on the way. Furthermore, the demand for tastes across European countries to popularise clean label or green food items free of added ingredients and other harmful chemicals has pushed the flavours and fragrance market forward.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Type, Nature, Application, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Sensient Technologies Corporation, Firmenich SA, Huabao International Holdings Limited, Robertet SA, Frutarom Industries Ltd., Symrise AG and International Flavors & Fragrances, Inc., Kerry Group, PLC, S H Kelkar and Company Limited, Givaudan International SA, Others. |
Covid-19 Impact on Flavors and Fragrances Market
A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, supply chain, training, safety, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in the beverage industry is facing a devastating effect of a pandemic. Around 13% to 15% of the craft beer sector in the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused to shut down of many small to medium food processing companies around the world.
Flavors and Fragrances Market Segment Overview
According to Nature, the Synthetic segment holds the largest share of the global flavors and fragrance market and is expected to remain dominant during the forecast period. Because of their low cost and longer shelf life, synthetic tastes and fragrances have become more popular in the food and beverage, cosmetics, and personal care industries. Moreover, according to the application, the food & beverages segment held a major share in the market and is expected to remain dominant in the forthcoming period.
Flavors and Fragrances Market, By Type
· Flavors
· Fragrance
Flavors and Fragrances Market, By Nature
· Natural
· Synthetic
Flavors and Fragrances Market, By Application
· Food & Beverages
· Cosmetics & Personal Care
· Home Care
· Fabric Care
Flavors and Fragrances Regional Overview
The global Flavors and Fragrances market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe held a significant part of the global flavours and fragrances market because of the high demand from the food and beverage industry. Moreover, Asia Pacific is expected to rise significantly in the future years. This is due to increased demand from nations such as China, India, and Japan.
Flavors and Fragrances Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Flavors and Fragrances Market Competitor overview
Some key developments and strategies adopted by manufacturers in Flavors and Fragrances are highlighted below.
· In February 2021, As part of its long-term strategy to expand its capabilities in Artificial Intelligence (AI), Givaudan announced that it is to acquire Myrissi. Founded in 2014 and based in France, Myrissi has developed a patented AI technology capable of translating fragrances into colour patterns and images, relevant to the consumer as well as predicting the end consumer’s emotional response.
Flavors and Fragrances Market, Key Players
· Sensient Technologies Corporation
· Firmenich SA
· Huabao International Holdings Limited
· Robertet SA
· Frutarom Industries Ltd.
· Symrise AG and International Flavors & Fragrances, Inc.
· Kerry Group, PLC
· S H Kelkar and Company Limited
· Givaudan International SA
· Others
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Flavors and Fragrances market?
Q2. Which Segments are covered in the global Flavors and Fragrances market report?
Q3. Which segment is projected to hold the largest share in the global Flavors and Fragrances market?
Q4. Which region holds the largest share in the global Flavors and Fragrances market?
Q5. Which are the prominent players in the global Flavors and Fragrances market?
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Flavors and Fragrances Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Flavors
- 5.2.2. Fragrance
- 5.3. Market Analysis, Insights and Forecast – By Nature
- 5.3.1. Natural
- 5.3.2. Synthetic
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Food & Beverages
- 5.4.2. Cosmetics & Personal Care
- 5.4.3. Home Care
- 5.4.4. Fabric Care
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Flavors and Fragrances Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Flavors
- 6.2.2. Fragrance
- 6.3. Market Analysis, Insights and Forecast – By Nature
- 6.3.1. Natural
- 6.3.2. Synthetic
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Food & Beverages
- 6.4.2. Cosmetics & Personal Care
- 6.4.3. Home Care
- 6.4.4. Fabric Care
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Flavors and Fragrances Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Flavors
- 7.2.2. Fragrance
- 7.3. Market Analysis, Insights and Forecast – By Nature
- 7.3.1. Natural
- 7.3.2. Synthetic
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Food & Beverages
- 7.4.2. Cosmetics & Personal Care
- 7.4.3. Home Care
- 7.4.4. Fabric Care
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Flavors and Fragrances Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Flavors
- 8.2.2. Fragrance
- 8.3. Market Analysis, Insights and Forecast – By Nature
- 8.3.1. Natural
- 8.3.2. Synthetic
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Food & Beverages
- 8.4.2. Cosmetics & Personal Care
- 8.4.3. Home Care
- 8.4.4. Fabric Care
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Flavors and Fragrances Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Flavors
- 9.2.2. Fragrance
- 9.3. Market Analysis, Insights and Forecast – By Nature
- 9.3.1. Natural
- 9.3.2. Synthetic
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Food & Beverages
- 9.4.2. Cosmetics & Personal Care
- 9.4.3. Home Care
- 9.4.4. Fabric Care
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2021
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Sensient Technologies Corporation
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Firmenich SA
- 10.6. Huabao International Holdings Limited
- 10.7. Robertet SA
- 10.8. Frutarom Industries Ltd.
- 10.9. Symrise AG and International Flavors & Fragrances, Inc.
- 10.10. Kerry Group, PLC
- 10.11. S H Kelkar and Company Limited
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
