Global Flavours - Fragrances Market Segmentation, By Product (Natural, Aroma), Form (Liquid, Dry), End User (Dairy Products, Soap and Detergent, Beverages, Cosmetics and Toiletries, Oral Care, Confectionary and Bakery Products, Household, Others) – Industry Trends and Forecast to 2031.
Flavours - Fragrances Market Analysis
Global flavours-fragrances market to be driven by the growing demand for natural flavours-fragrances. Flavours-fragrances refer to the important components in several consumer goods, including packaged foods such as prepared foods, household products, and personal care among others. Natural essence and Synthetic compositions deliver several flavours-fragrances like cinnamon aroma in pumpkin lattes and cherry taste of cherry cola, cool mint flavour to toothpaste,
Flavours - Fragrances Market Size
Global flavours-fragrances market size was valued at USD 34.36 billion in 2023 and is projected to reach USD 48.90 billion by 2031, with a CAGR of 4.51% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Flavours - Fragrances Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Givaudan (Switzerland), Firmenich SA (Switzerland), International Flavors & Fragrances Inc, (US), Takasago International Corporation (Japan), ADM (US), Sensient Technologies Corporation (US), Mane (EN) (France), Robertet SA (France), T.Hasegawa USA Inc. (Japan), Bell Flavors & Fragrances (US). Agilex Fragrances (US), Comax MFG Corp (US), Biolandes (France), doTERRA (US), Falcon (US), Ungerer & Company (US), Akay (India), BASF SE (Germany), Young Living Essential Oils (US), Alpha Aromatics (Us)
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Market Opportunities
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Flavours - Fragrances Market Definition
Flavour and fragrance are two senses flavour is felt with the tongue whereas fragrance is felt with the nose. Fragrance is a sweet and pleasant smell and flavour is a distinctive taste. The main difference between flavour and fragrance is that the fragrance is felt with the nose whereas flavour is felt with the tongue. However, flavour and fragrance cannot be considered as distinct things since the flavour is often a result of both smell and taste. Thus, fragrance has a main effect on flavour.
Flavours - Fragrances Market Dynamics
Drivers
- Usage in food industry
Fragrance refers to particular smell of that substance, while Flavour refers to a specific taste of a substance. These are generally added to food products, including dessert, dairy, beverage, and others. The increase in demand for the products due to growing demand for ready-to-eat meals, juices, processed food, snacks and other beverages, and surge in customer preference toward convenience foods accelerate the growth of the flavours and fragrances market.
- Increase the demand of natural products
The use of natural products is on the upsurge due to the increasing demand for exotic essential oils to be used in aromatherapy, pharmaceuticals and natural cosmetics. Developed economies are demanding for those flavour and fragrances where the odour value will completely depend on natural products. Thus, many exotic essential oils based flavour and fragrances such as Lavender, Geranium, Sandal, Junipers, Rosemary, etc. are finding usability in multiple new blends which are expected to increase the demand of flavours-fragrances in the market.
- Increase in demand due to several end user
The flavours-fragrances market is being driven by the growing product demand for several applications in industries such as personal care, food and beverages, and others. Due to rising demand for refreshing beverages with low calories, is likely to boost the demand for flavours-fragrances and increase the growth of the market. The increasing demand for fragrances in toiletries, soap, detergents, and other products to attract customers and improve their experience further boosts the market growth rate.
Opportunities
One of the latest trends which is driving the flavours-fragrance market is consumer products shopping and online food and the introduction of new apps these all factors are making it more convenient for consumers to pick their desired products. Now Consumers are inclined toward online shopping due to wide features of variety and convenience. The increasing penetration of the smartphone and Internet usage increase the emerging economies for retail grocery shopping, one of the best platforms for companies to sell and showcase their products. Factors like growing smartphone usage, emerging payment methods and dedicated apps fuel the whole online grocery market, thus create the opportunities to the growth of the flavours-fragrance market.
Restraints/ Challenges
However, compliance with regulatory standard and quality standards, and fluctuating the costs of essential oils are anticipated to obstruct the market growth rate. Lack of cold chain infrastructure and Limited progression in value chain in developing countries are expected to challenge the flavours - fragrances market. These are the major market restrains that will obstruct the market's growth rate during forecast period.
This flavours - fragrances market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the flavours - fragrances market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Flavours - Fragrances Market Scope
The flavours - fragrances market is segmented on the basis of products, form and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Products
- Natural
- Aroma
Form
- Liquid
- Dry
End User
- Dairy Products
- Soap and Detergent
- Beverages
- Cosmetics and Toiletries
- Oral Care
- Confectionary and Bakery Products
- Household
- Others
Flavours - Fragrances Market Regional Analysis
The flavours - fragrances market is analysed and market size insights and trends are provided by country, products, form and end-user as referenced above.
The countries covered in the flavours - fragrances market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Asia-Pacific dominates the flavours - fragrances market in terms of market share during the forecast period. This is due to the increasing demand for flavours - fragrances in this region. Asia-Pacific region dominates the flavours - fragrances market because of the growing demand from different application industries and availability of raw materials in this region.
During the projected period, North America is anticipated to be the fastest developing region because of the augmented demand for the products from home care, therapy, personal care, cosmetics, and oral care, among others in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Flavours - Fragrances Market Share
The flavours - fragrances market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to flavours - fragrances market.
Flavours - Fragrances Market Leaders Operating in the Market Are:
- Givaudan (Switzerland)
- Firmenich SA (Switzerland)
- International Flavors & Fragrances Inc, (US)
- Takasago International Corporation (Japan)
- ADM (US)
- Sensient Technologies Corporation (US)
- Mane (EN) (France)
- Robertet SA (France)
- T.Hasegawa USA Inc. (Japan)
- Bell Flavors & Fragrances (US)
- Agilex Fragrances (US)
- Comax MFG Corp (US)
- Biolandes (France)
- doTERRA (US)
- Falcon (US)
- Ungerer & Company (US)
- Akay (India)
- BASF SE (Germany)
- Young Living Essential Oils (US)
- Alpha Aromatics (Us)
Latest Developments in Flavours - Fragrances Market
- In January 2021, Eugenol Synth launched by solvay for fragrance applications, including olfactory properties comparable to those resultant from cloves
- In October 2020, IFF declared that they are opening a new Dubai Taste Creation Center in the UAE to better deliver its consumers’ unique needs and drive growth in the Turkish, African, Middle Eastern, and Indian markets. This new lab will support both the application and creation needs of all key segments, including savory, sweet, snacks, beverages, and dairy
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