Flavors And Fragrance Market To Reach USD 26.9 Billion In 2027 | CAGR 2.5% - Forencis Research

Flavors & Fragrance Market Size, Share, Trends, Growth, Analysis, Research

Global Flavors & Fragrance Market: Key Highlights

  • According to the new market research report Flavors & Fragrance Market by Type (Natural, Synthetic), by Application (Beverages, Dairy Foods, Fine Fragrance, Cosmetic & Toiletries, Bakery Foods, Confectionary, Fine Fragrances, Cosmetics & Toiletries, Soaps & Detergents, and Others), and by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast From 2019 To 2027”, the global Flavors & Fragrance market is estimated to reach USD 26.9 Billion in 2027 at a CAGR of 2.5% during forecast period 2019-2027.
  • Demand for natural ingredients that are safer, healthier, and better for the environment than synthetic ingredients is expected to boost the demand for the flavors & fragrance market
  • Moreover, demand for food & beverage which are free from artificial or chemical ingredients is growing which has increased consumer preference for use of natural ingredients
  • Rising demand for convenience foods, including microwaveable and prepared foods, in developed markets, has increased the demand for the product market.

Flavors & Fragrance Market

Global Flavors & Fragrance Market: Key Market Dynamics

  • Increased consumer willingness to experiment with novel and artisanal foods with nontraditional or exotic flavor profiles and interest in bold flavors has expected to surge the demand for the market
  • The growing influence of consumer activities, social media, retailers, advocacy groups, in framing the discussion about ingredients in food and personal care products
  • Increasing consciousness towards physical appearance and rapid change in lifestyle has created a strong growth in demand for fragrance in cosmetics and personal care industry. However, the use of artificial fragrance may hinder the growth of the product market.
  • Increasing the use of flavors & fragrances in pharmaceutical, dietary supplements, and nutraceuticals have also projected to argument the demand during the forecasted period.

Global Flavors & Fragrance Market: Regional Overview

  • Asia-Pacific

The demand for flavors and fragrance in the Asia Pacific region is expected to have steady growth owing to rising demand for convenience and ready to eat meals, health and wellness foods. This was attributed to the demand for flavors and fragrance from various industries such as cosmetics, food & beverage, household products, and toiletries. Moreover, rising demand for natural flavors by consumers in the Asia Pacific region due to a shift in preference from synthetic flavors.

  • North America

Rising demand for flavoring ingredients in bakery and confectionery items, energy drinks, ice creams & desserts has boosted the growth of flavors and fragrance market in the food & beverage industry of the region. Furthermore, the addition of flavors at optimal concentration improves the texture and taste of food. This enhances the flavor of food and beverages, thereby making them more appealing to consumers. However, these factors are expected to boost the product market in the region.

Global Flavors & Fragrance Market: Key Players Overview

  • Givaudan:

Givaudan is one of the global leader in the creation of flavors and fragrances. In close collaboration with food, beverage, consumer product, and fragrance partners, Givaudan develops tastes and scents that delight consumers across the globe. In Nov 2019, Givaudan announced an agreement to acquire Ungerer & Company, the US-based Flavour, Fragrance, and Specialty Ingredients company. This will help Givaudan to expand the capabilities of its global flavor and fragrance business across the globe.

  • Firmenich SA:

Firmenich, the world’s largest privately-owned perfume and taste company, in Nov 2019, announced an agreement to establish a joint venture with MG International Fragrance Company. This will help to deliver creative and innovative fragrances for customers in both fine fragrance and body & home care across Turkey, the Middle East, Eastern Europe, and Africa.

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Rep Id : CM 049

Published : 2020-01-27

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