Global Flavors & Fragrances Market, 2022 - Increasing Demand for Natural Flavors and Fragrances to Drive the $24 Bn Market

4/13/2018, 10:52 AM (Source: GlobeNewswire)

Dublin, April 13, 2018 (GLOBE NEWSWIRE) -- The "Flavors & Fragrances Market by Ingredients, End use and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering

"The flavors & fragrances market is projected to grow at a CAGR of 2.67% during the forecast period"

Market Dynamics

Drivers

  • Increasing Demand for Natural Flavors and Fragrances
  • Increasing Consumer Preference Toward Convenience Foods
  • Rising Demand for Consumer Products

Restraints

  • Compliance With Quality and Regulatory Standards

Opportunities

  • High Growth Potential From Emerging Economies

The flavors & fragrances market is expected to grow from an estimated USD 21.15 billion in 2017 to USD 24.13 billion by 2022, at a CAGR of 2.67% between 2017 and 2022.

The growth of the flavors & fragrances market can be attributed to growing population, rapid urbanization, and increase in per capita spending on consumer products in high-growth economies, such as China, India, South Korea, and Indonesia. In addition, increase in awareness among the population concerning health and wellness is expected to drive the demand for flavors & fragrances between 2017 and 2022. However, factors such as compliance with quality & regulatory standards is expected to restrain demand during the forecast period.

"Consumer product segment is expected to be the largest end-use segment of the fragrances market"

Fragrances are used in consumer products, such as home care products, personal hygiene, and beauty products. Consumer products is projected to be the largest end-use segment of the flavors & fragrances market between 2017 and 2022. Growing awareness among the population related to hygiene and cleanliness is expected to drive the demand for consumer products, which in turn is expected to drive the demand for fragrances.

"The Middle East & Africa is projected to be the fastest-growing flavors & fragrances market during the forecast period"

The flavors & fragrances market in the Middle East & Africa is projected to grow at the highest CAGR between 2017 and 2022. Economic growth in countries, such as Saudi Arabia, Iran, and Turkey, escalating population and increase in disposable incomes are making Middle East & Africa an attractive market for flavors & fragrances manufacturers.

Breakdown of profiles of primary interviews for the report:

  • By Company Type - Tier 1 - 55%, Tier 2 - 27%, and Tier 3 - 18%
  • By Designation - C Level - 46%, Director Level - 27%, and Others - 27%
  • By Region - North America - 28%, Europe - 18%, APAC - 27%, Middle East & Africa - 9%, and South America - 18%

Some of the key companies profiled in this report are Givaudan (Switzerland), International Flavors & Fragrances (US), Firmenich (Switzerland), MANE (France), Symrise (Germany), Sensient (US.),Takasago (Japan), Frutarom (Israel), Robertet (France), and T.HASEGAWA (Japan).

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitation
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Significant Opportunities in the Flavors & Fragrances Market (2017-2022)
4.2 Flavors & Fragrances Market, By Region
4.3 APAC Fragrances Market, By Key Country and End Use, 2016
4.4 Flavors & Fragrances Market Attractiveness, 2017-2022
4.5 Flavors Market, By End Use and Region, 2016

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Natural Flavors and Fragrances
5.2.1.2 Increasing Consumer Preference Toward Convenience Foods
5.2.1.3 Rising Demand for Consumer Products
5.2.2 Restraints
5.2.2.1 Compliance With Quality and Regulatory Standards
5.2.3 Opportunities
5.2.3.1 High Growth Potential From Emerging Economies

6 Flavors & Fragrances Market, By Ingredient
6.1 Introduction
6.1.1 Synthetic Ingredients
6.1.2 Natural Ingredients

7 Flavors & Fragrances Market, By End Use
7.1 Introduction
7.1.1 Flavors
7.1.2 Beverages
7.1.3 Savory & Snacks
7.1.4 Dairy Products
7.1.5 Bakery
7.1.6 Confectionery
7.1.7 Others
7.1.8 Fragrances
7.1.9 Consumer Products
7.1.10 Fine Fragrances

8 Flavors & Fragrances Market, By Region
8.1 Introduction
8.1.1 APAC to Drive the Flavors Market
8.1.2 APAC to Drive the Fragrances Market
8.2 APAC
8.3 Europe
8.4 North America
8.5 South America
8.6 Middle East & Africa

9 Competitive Landscape
9.1 Overview
9.2 Market Share Analysis of Key Players
9.2.1 Givaudan
9.2.2 Firmenich
9.2.3 IFF
9.2.4 Symrise
9.3 Competitive Scenario
9.3.1 Expansions
9.3.2 Acquisitions
9.3.3 New Product Launches

10 Company Profiles
10.1 Givaudan
10.2 Firmenich
10.3 International Flavors & Fragrances
10.4 Symrise
10.5 Takasago
10.6 Sensient
10.7 Mane
10.8 Robertet
10.9 T.Hasegawa
10.10 Frutarom
10.11 Other Players
10.11.1 Bell Flavors & Fragrances
10.11.2 Archer Daniels Midland
10.11.3 Kerry
10.11.4 Ogawa & Co., Ltd.
10.11.5 Huabao

For more information about this report visit https://www.researchandmarkets.com/research/sd2kxr/global_flavors?w=12


CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900
         Related Topics: Fragrance, Flavor and Aroma Chemicals, Food Ingredients , Food Additives

Primary Logo

Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.