Flavors and Fragrances Market size was valued at US$ 32.59 Bn in 2023 and the total revenue is expected to grow at CAGR 4.83% through 2024 to 2030, reaching nearly US$ 45.34 Bn.Flavors and Fragrances Market Overview:
Flavors and Fragrances are the substances that are used to increase the overall aesthetic value of product by modifying its characteristics like taste and odor. Flavors are used as additive to enhance the taste of food and beverage in bakery, dairy product, sauces and snacks. Fragrances are added to get desired odor in vast variety of consumer product such as spray perfumes, body care, home care, cosmetics, soap and detergents. The substances like lactones, esters, acids, ketones, alcohol and aldehydes are used as additive agent to refine and enhance the value of product.To know about the Research Methodology :- Request Free Sample Report
Flavors and Fragrances Market Dynamics:
Flavors and fragrances is account for changing consumer desires toward convenience food and increasing demand for consumer products. Convenience foods include packaged foods, preserved foods, and ready-to-eat food products. To enhance the taste of these products, individual flavors ingredients are added to these food products. Rapid urbanization and a rise in working population across the worldwide has increased the consumption of convenience food. Furthermore rising disposable income of population and increasing expenditure on convenience foods are expected to drive the demand for variety of flavors. The organization Like Firmenich, International Flavors & Fragrances (IFF), Givaudan and Sensient Technologies reveals that the importance of taste has increased since 2023, with about 86% of consumers choosing taste over other food attributes prior to their purchase. Thus new product development may offer profitable opportunities for Flavors and fragrances market. Thanks to increasing use of flavors in pharmaceutical, growing demand for natural Ingredient, increased focus on health and preference towards more health conscious lifestyle leads to growth of Flavors and Fragrances Market. Furthermore Flavors and Fragrances Market is showing a northward direction growth due to the vast investment in the manufacture industry, increased product sales, rising positive demand have a significant impact on the Flavors and Fragrances Market. The global Flavors and Fragrances competition is highly fragmented, and leading companies have employed a variety of strategies to expand their footprints in this market, including expansions, agreements, joint ventures, partnerships, acquisitions, and others. According to the World Health Organization (WHO), a global public health emergency was declared in January 2021 owing to the spread of the coronavirus. The strict government’s regulations imposed by the many developed & developing economies has made supply chain disruptions. Nonetheless, technological developments, government funding for R&D and untapped potential in emerging countries all present promising future growth.Flavors and Fragrances Market Segment Analysis:
Based on the Ingredient Type the market is segmented into Natural Ingredient and Synthetic Ingredient. With the several benefits of Synthetic Ingredient segment, it captured the largest product segment, accounting for more than 62% of the market in 2023. Synthetic segment is expected to grow with highest CAGR of 6.7% during forecast period. Synthetic Ingredient are less expensive as compare to natural variaents. They are long lasting, emit strong fragrance, and offer greater freedom of creativity to manufacturers owing to this they are dominating the global market. Natural fragrances are perceived to be safe, healthier and therapeutic. Natural flavor and fragrance ingredients are expected to grow rapidly with CAGR of 4.2%. Based on Application, the market is segmented into Food and Beverages, Cosmetics and Personal Care, Pharmaceutical and Home and Floor Care. Food and beverage segment is expected to register a notable CAGR of 6.7%. It has acquired highest market share accounted more than 43% by revenue over the forecast period owing to increasing demand for juices, snacks, processed food, ready-to-eat meals, and other beverages. Cosmetic and Personal Care segment is estimated to grow significantly due to the rise of organized retail chains; changing lifestyles; and the growing demand for various consumer products. Pharmaceutical segment is expected to grow rapidly at the CAGR of xx% owing to increasing use of flavors in pharmaceutics is projected to augment demand in the forthcoming years. As growing demand for this segment, manufacturers are focusing on the introduction of the advanced technology for the product which fuel high growth rate for this segment.Flavors and Fragrances Market Regional Analysis:
Asia Pacific region is the largest Flavors and Fragrances consumer in the world during 2023 and it has accounted more than half of the global consumption of Market share around, 38.23% in terms of revenue. Asia Pacific is expected to register the highest CAGR of 5.7% during the forecast period on account of availability of raw materials and increasing demand from different application industries. China is largest producer flavors and fragrances, which make dominant player in Asia Pacific region. North America accounted for 21.0% of market share in 2023. It is expected to expand at a CAGR of 3.1 % over the forecast period. Europe Occupied significant flavors and fragrances market share accounted for USD $ 5.96 bn in 2023. The Middle East and African market is expected to be driven by Gulf countries such as Saudi Arabia and the United Arab Emirates. Due to poor economic and political situation, African area is predicted to grow at a slow pace. The objective of the report is to present a comprehensive analysis of the Flavors and Fragrances Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also helps in understanding the Flavors and Fragrances Market dynamic, structure by analyzing the market segments and project the Flavors and Fragrances Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Flavors and Fragrances Market make the report investor’s guide.Flavors and Fragrances Industry Ecosystem
Flavors and Fragrances Market Scope: Inquire before buying
Global Flavors and Fragrances Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 32.59 Bn. Forecast Period 2024 to 2030 CAGR: 4.83% Market Size in 2030: US $ 45.34 Bn. Segments Covered: by Ingredient type Natural Synthetic by Application Food and Beverages Cosmetics and Personal Care Pharmaceutical Home and Floor Care Fine Fragrance. Flavors and Fragrances Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)Flavors and Fragrances Market, Key Players are:
1. Firmenich 2. International Flavors & Fragrances (IFF) 3. Givaudan 4. Symrise Takasago 5. The Archer Daniels Midland Company (ADM) 6. Sensient Technologies 7. Mane SA 8. Robertet 9. T. Hasegawa Frutarom Industries Ltd. 10. Huabao International Holdings Limited 11. Kerry Group 12. PLC 13. S H Kelkar and Company Limited 14. Sensient Technologies Corporation 15. Bell Flavors & FragrancesFrequently Asked Questions:
1] What segments are covered in Flavors and Fragrances Market report? Ans. The segments covered in Flavors and Fragrances Market report are based on Ingredient type and Application type. 2] Which region is expected to hold the highest share in the Flavors and Fragrances Market? Ans. Asia Pacific Region is expected to hold the highest share in the Flavors and Fragrances Market. 3] What is the market size of Flavors and Fragrances Market by 2030? Ans. The market size of Flavors and Fragrances Market by 2030 is US $ 45.34 Bn. 4] Who are the top key players in the Flavors and Fragrances Market? Ans. Firmenich, International Flavors & Fragrances (IFF), Givaudan, Symrise Takasago, The Archer Daniels Midland Company (ADM), Sensient Technologies, Mane SA, Robertet, T. Hasegawa, Bell Flavors & Fragrances, Frutarom Industries Ltd., Huabao International Holdings Limited, Kerry Group, PLC,, S H Kelkar and Company Limited, Sensient Technologies Corporation. 5] What was the market size of Flavors and Fragrances Market in 2023? Ans. The market size of Flavors and Fragrances Market in 2023 was US $ 32.59 Bn
1. Flavors and Fragrances Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.2.1. Flavors and Fragrances : Market Segmentation 1.2.2. Region Covered 1.3. Executive Summary 2. Global Flavors and Fragrances Market : Competitive Landscape 2.1. MMR Competition Matrix 2.2. Competitive Landscape 2.3. Market share analysis of major players 2.4. Products specific analysis 2.5. Key Players Benchmarking 2.5.1. Company Name 2.5.2. Product Segment 2.5.3. End-user Segment 2.5.4. Revenue (2023) 2.5.5. Key Development 2.5.6. Market Share 2.6. Industry Ecosystem 2.6.1. Key players in the Flavors and Fragrances ecosystem 2.6.2. Role of companies in the Flavors and Fragrances ecosystem 2.7. Upcoming Technological and Advancement Initiatives by Key Players 2.8. Market Structure 2.8.1. Market Leaders 2.8.2. Market Followers 2.8.3. Emerging Players 2.9. Consolidation of the Market 2.9.1. Strategic Initiatives and Developments 2.9.2. Mergers and Acquisitions 2.9.3. Collaborations and Partnerships 2.9.4. Product Launches and Innovations 2.10. Pricing Analysis: Average Selling Price of Flavors and Fragrances Offered by Key Players in the Market 3. Flavors and Fragrances Market : Dynamics 3.1. Flavors and Fragrances Market Trends by Region 3.1.1. North America Flavors and Fragrances Market Trends 3.1.2. Europe Flavors and Fragrances Market Trends 3.1.3. Asia Pacific Flavors and Fragrances Market Trends 3.1.4. South America Flavors and Fragrances Market Trends 3.1.5. Middle East & Africa (MEA) Flavors and Fragrances Market Trends 3.2. Flavors and Fragrances MarketDynamics by Region 3.2.1.1. Drivers 3.2.1.2. Restraints 3.2.1.3. Opportunities 3.2.1.4. Challenges 3.3. PORTER’s Five Forces Analysis 3.3.1. Threat of New Entrants 3.3.2. Threat of Substitutes 3.3.3. Bargaining Power of Suppliers 3.3.4. Bargaining Power of Buyers 3.3.5. Intensity of Competitive Rivalry 3.4. Supply Chain Analysis 3.4.1. Raw Material 3.4.2. Manufacturing 3.4.3. Distribution 3.4.4. End-use industries 3.5. Treads and Disruption Impacting Customer Business 3.5.1. Treads and Disruption Impacting Customer Business 3.6. Technological Analysis 3.6.1. Key Technologies 3.6.1.1. Supercritical Fluid extraction 3.6.1.2. Ultrasonic extraction 3.6.2. Complementary Technologies 3.6.2.1. Artificial Intelligence-powered fragrance creation 3.7. Key Stakeholder and Buying Criteria 3.7.1. Influence of Stakeholders on the Buying Process for the Top Applications 3.7.2. Key Buying Criteria for Top Applications 3.8. Regulatory Landscape 3.8.1. Regulation by Region 3.8.2. Tariff and Taxes 3.8.3. Regulatory Bodies, Government agencies, and other organization by Region 3.9. Patent Analysis 3.9.1. Top 10 Patent Holders 3.9.2. Top 10 Companies with Highest Number of Patents 3.9.3. Patent Registration Analysis 3.9.4. Number of Patents Granted Still 2024 4. Trade Data Analysis: 4.1.1. Import Data on Flavors and Fragrances 4.1.1.1. Flavors 4.1.1.2. Fragrances 4.1.2. Export Data on Flavors and Fragrances 4.1.2.1. Flavors 4.1.2.2. Fragrances 5. Flavors and Fragrances Market : Global Market Size and Forecast by Segmentation (by Value USD Bn) (2023-2030) 5.1. Global Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 5.1.1. Natural 5.1.2. Synthetic 5.2. Global Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 5.2.1. Food and Beverages 5.2.2. Cosmetics and Personal Care 5.2.3. Pharmaceutical 5.2.4. Home and Floor Care 5.2.5. Fine Fragrance 5.3. Global Flavors and Fragrances Market Size and Forecast, by Region (2023-2030) 5.3.1. North America 5.3.2. Europe 5.3.3. Asia Pacific 5.3.4. South America 5.3.5. MEA 6. North America Flavors and Fragrances Market Size and Forecast by Segmentation (by Value USD Bn) (2023-2030) 6.1. North America Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 6.1.1. Natural 6.1.2. Synthetic 6.2. North America Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 6.2.1. Food and Beverages 6.2.2. Cosmetics and Personal Care 6.2.3. Pharmaceutical 6.2.4. Home and Floor Care 6.2.5. Fine Fragrance 6.3. North America Flavors and Fragrances Market Size and Forecast, by Country (2023-2030) 6.3.1. United States 6.3.1.1. United States Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 6.3.1.1.1. Natural 6.3.1.1.2. Synthetic 6.3.1.2. United States Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 6.3.1.2.1. Food and Beverages 6.3.1.2.2. Cosmetics and Personal Care 6.3.1.2.3. Pharmaceutical 6.3.1.2.4. Home and Floor Care 6.3.1.2.5. Fine Fragrance 6.3.2. Canada 6.3.2.1. Canada Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 6.3.2.1.1. Natural 6.3.2.1.2. Synthetic 6.3.2.2. Canada Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 6.3.2.2.1. Food and Beverages 6.3.2.2.2. Cosmetics and Personal Care 6.3.2.2.3. Pharmaceutical 6.3.2.2.4. Home and Floor Care 6.3.2.2.5. Fine Fragrance 6.3.3. Mexico 6.3.3.1. Mexico Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 6.3.3.1.1. Natural 6.3.3.1.2. Synthetic 6.3.3.2. Mexico Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 6.3.3.2.1. Food and Beverages 6.3.3.2.2. Cosmetics and Personal Care 6.3.3.2.3. Pharmaceutical 6.3.3.2.4. Home and Floor Care 6.3.3.2.5. Fine Fragrance 7. Europe Flavors and Fragrances Market Size and Forecast by Segmentation (by Value USD Bn) (2023-2030) 7.1. Europe Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 7.2. Europe Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 7.3. Europe Flavors and Fragrances Market Size and Forecast, by Country (2023-2030) 7.3.1. United Kingdom 7.3.1.1. United Kingdom Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 7.3.1.2. United Kingdom Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 7.3.2. France 7.3.2.1. France Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 7.3.2.2. France Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 7.3.3. Germany 7.3.3.1. Germany Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 7.3.3.2. Germany Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 7.3.4. Italy 7.3.4.1. Italy Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 7.3.4.2. Italy Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 7.3.5. Spain 7.3.5.1. Spain Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 7.3.5.2. Spain Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 7.3.6. Sweden 7.3.6.1. Sweden Flavors and Fragrances Market Size and Forecast, by Ingredient (2023-2030) 7.3.6.2. Sweden Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 7.3.7. Austria 7.3.7.1. Austria Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 7.3.7.2. Austria Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 7.3.8. Rest of Europe 7.3.8.1. Rest of Europe Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 7.3.8.2. Rest of Europe Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 8. Asia Pacific Flavors and Fragrances Market Size and Forecast by Segmentation (by Value USD Bn) (2023-2030) 8.1. Asia Pacific Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 8.2. Asia Pacific Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 8.3. Asia Pacific Flavors and Fragrances Market Size and Forecast, by Country (2023-2030) 8.3.1. China 8.3.1.1. China Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 8.3.1.2. China Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 8.3.2. S Korea 8.3.2.1. S Korea Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 8.3.2.2. S Korea Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 8.3.3. Japan 8.3.3.1. Japan Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 8.3.3.2. Japan Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 8.3.4. India 8.3.4.1. India Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 8.3.4.2. India Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 8.3.5. Australia 8.3.5.1. Australia Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 8.3.5.2. Australia Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 8.3.6. ASEAN 8.3.6.1. ASEAN Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 8.3.6.2. ASEAN Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 8.3.7. Rest of Asia Pacific 8.3.7.1. Rest of Asia Pacific Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 8.3.7.2. Rest of Asia Pacific Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 9. South America Flavors and Fragrances Market Size and Forecast by Segmentation (by Value USD Bn) (2023-2030) 9.1. South America Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 9.2. South America Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 9.3. South America Flavors and Fragrances Market Size and Forecast, by Country (2023-2030) 9.3.1. Brazil 9.3.1.1. Brazil Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 9.3.1.2. Brazil Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 9.3.2. Argentina 9.3.2.1. Argentina Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 9.3.2.2. Argentina Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 9.3.3. Rest Of South America 9.3.3.1. Rest Of South America Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 9.3.3.2. Rest Of South America Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 10. Middle East and Africa Flavors and Fragrances Market Size and Forecast by Segmentation (by Value USD Bn) (2023-2030) 10.1. Middle East and Africa Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 10.2. Middle East and Africa Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 10.3. Middle East and Africa Flavors and Fragrances Market Size and Forecast, by Country (2023-2030) 10.3.1. South Africa 10.3.1.1. South Africa Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 10.3.1.2. South Africa Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 10.3.2. GCC 10.3.2.1. GCC Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 10.3.2.2. GCC Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 10.3.3. Rest Of MEA 10.3.3.1. Rest Of MEA Flavors and Fragrances Market Size and Forecast, by Ingredient type (2023-2030) 10.3.3.2. Rest Of MEA Flavors and Fragrances Market Size and Forecast, by Application (2023-2030) 11. Company Profile: Key Players 11.1. Firmenich 11.1.1. Company Overview 11.1.2. Business Portfolio 11.1.3. Financial Overview 11.1.4. SWOT Analysis (Technological strengths and weaknesses) 11.1.5. Strategic Analysis (Recent strategic moves) 11.1.6. Recent Developments 11.2. International Flavors & Fragrances (IFF) 11.3. Givaudan 11.4. Symrise Takasago 11.5. The Archer Daniels Midland Company (ADM) 11.6. Sensient Technologies 11.7. Mane SA 11.8. Robertet 11.9. T. Hasegawa Frutarom Industries Ltd. 11.10. Huabao International Holdings Limited 11.11. Kerry Group 11.12. PLC 11.13. S H Kelkar and Company Limited 11.14. Sensient Technologies Corporation 11.15. Bell Flavors & Fragrances 11.16. Others 12. Key Findings and Analyst Recommendations 12.1. Attractive Opportunities for Players in the Flavors and Fragrances Market 13. Flavors and Fragrances Market : Research Methodology 13.1. Introduction: Flavors and Fragrances market 13.1.1. Bottom-up Approach 13.1.2. Top-Down Approach 13.2. Market Size Estimation 13.3. Data Triangulation and Market Breakdown 13.3.1. Flavors and Fragrances Market : Data Triangulation method 13.4. Growth Forecast 13.4.1. Supply-Side analysis 13.4.2. Demand-Side analysis 13.5. Risk Assessment
