Global Flavors & Fragrance Market: Key Highlights
Global Flavors & Fragrance Market: Key Market Dynamics
Global Flavors & Fragrance Market: Regional Overview
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.
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 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, 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.
About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.
Phone: +1 (720) 306 9020