Flavors And Fragrances Market size worth USD 48,296.01 Million, Globally, by 2030 at 5.56% CAGR: Verified Market Research®


 The “Global Flavors And Fragrances Market Size By Type (Flavors, Fragrances), By Ingredient (Synthetic, Natural Ingredients), By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Flavors And Fragrances Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., Sept. 18, 2023 /PRNewswire/ — The Global Flavors And Fragrances Market is projected to grow at a CAGR of 5.56% from 2022 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 30,075.60 Million in 2021 and is expected to reach USD 48,296.01 Million by the end of the forecast period.

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Browse in-depth TOC on Flavors And Fragrances Market

202 – Pages
126 – Tables
37 – Figures

Market Research Report Highlights Key Drivers, Outlook, and Key Players in the Flavors and Fragrances Industry

The global Flavors and Fragrances Market continues to evolve, driven by various factors influencing consumer preferences and industry dynamics. A recent market research report provides valuable insights into the market’s drivers, outlook, and key players, shedding light on the future prospects of this ever-expanding industry.

Flavor and fragrance, described as chemicals that enhance the sensory appeal of various products, play a vital role in the food, cosmetics, pharmaceuticals, and other end-user industries. These compounds aim to improve the overall aesthetic value of ingredients by altering their flavor and aroma profiles. In sectors such as food, beverages, baked goods, snacks, dairy products, soups, sauces, and confectionery, flavors are integral additives for enhancing taste and aroma.

Flavors and fragrances, while not directly consumed by individuals, are essential raw materials in a multitude of industries, including daily chemicals, food, tobacco, medicine, feed, cosmetics, textiles, and leather. They are indispensable to product quality and performance. The Flavors and Fragrances Market upstream sector encompasses the cultivation of spices, animal breeding, petrochemicals, coal chemicals, and oil processing, while the downstream sector primarily serves chemical, food and beverage, tobacco, feed, and various other industries.

Several market drivers are propelling the growth of the flavors and fragrances industry. The increasing global demand for health-conscious and convenience-oriented food products, including ready-to-eat meals, has significantly contributed to the industry’s expansion. Additionally, the pharmaceutical and cosmetics sectors have witnessed robust growth, further fueling the Flavors and Fragrances Market. The popularity of car and room fresheners and the rising interest in aromatherapy have also played pivotal roles in driving market growth.

Digitalization’s impact on the retail sector presents a lucrative opportunity for the flavors and fragrances market to flourish. However, the industry faces challenges such as stringent government regulations on synthetic flavors and fragrances, rising allergy concerns related to artificial additives, chemicals, and preservatives, and pricing irregularities across various products.

Furthermore, the flavors and fragrances market is experiencing significant growth due to innovative technologies and strategic alliances forged by key players. For instance, Givaudan’s expansion efforts, including the launch of a flavors production plant in Pune, India, in February 2019, highlight the company’s commitment to capitalizing on the growth potential in the Asia Pacific region. Givaudan’s acquisitions of Golden Frog in May 2019 and Ungerer and Company in February 2020 have further bolstered its presence in the market.

Asia Pacific emerged as the leading market in 2021, with the highest projected Compound Annual Growth Rate (CAGR) during the forecast period. This growth is attributed to the increasing adoption of Western food habits, resulting in higher demand for easy-to-prepare and ready-to-eat products. The consumption of frozen food products, baked goods, cereals, confectioneries, and other items is on the rise in the region, driving the flavors and fragrances market’s expansion.

Key Players in the global Flavors and Fragrances Market include:

  • International Flavors & Fragrances
  • Givaudan
  • Firmenich SA
  • Symrise
  • MANE
  • Takasago International Corporation
  • Sensient Technologies Corporation
  • Robertet SA
  • T. Hasegawa
  • ADM

These industry leaders continue to innovate and invest in strategic initiatives to shape the future of the flavors and fragrances market.

To get market data, market insights, financial statements and a comprehensive analysis of the Global Flavors And Fragrances Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Flavors And Fragrances Market into Type, Ingredient, Flavors, Fragrance, And Geography.

  • Flavors And Fragrances Market, by Type
    •  Flavors
    •  Fragrances
  • Flavors And Fragrances Market, by Flavors
    •  Beverages
    •  Bakery
    •  Confectionery
    •  Others
  • Flavors And Fragrances Market, by Fragrance
    • Fine Fragrances
    • Other Fragrances
  • Flavors And Fragrances Market, by Ingredient
    • Synthetic
    • Natural Ingredients
  • Flavors And Fragrances Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    •  Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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