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Europe Flavours and Fragrances Market to Grow at a CAGR of 5.2% between 2019-2024

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"According to a new report by EMR titled, ‘Europe Flavours and Fragrances Market Report and Forecast 2019-2024’, the Europe flavours and fragrances market is aiding the global market growth, which attained a value of USD 27.5 billion in 2018. The Europe flavours and fragrances market is projected to grow at a CAGR of 5.2% in the forecast period of 2019-2024."

The Europe flavours and fragrances market is the leading regional market in the industry, accounting for over a quarter of the industry, globally. The market in the region is being driven by the robust growth of cosmetics and food and beverages sectors. Western Europe accounted for nearly a fifth of the global cosmetics market in 2017. The overall Western European region dominates the flavours and fragrances market in Europe, with Germany being its largest market. The market in Germany is being driven by the country’s robust economy, which is aiding the growth of the various end-use sectors like cosmetics and food and beverage. In 2018, the food and beverage industry in the country earned EUR 243 billion in retail sales and EUR 78.4 billion in foodservice sales. The rising innovations taking place in the German industry is also aiding the flavours and fragrances market growth in the country. In 2017, German food and beverages companies spent EUR 1.7 billion on innovations.

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The UK and France are the other major markets in Western Europe. The markets in the countries are being driven by the rising consumer demand for natural and sustainably sourced materials. In January 2019, Firmenich, a major player in the flavours and fragrances market, launched a line of natural and sustainable fragrances called ‘Scent for Good, Naturally.’ In the coming years, the industry in the emerging countries of Eastern Europe is expected to witness a faster growth as compared to the mature markets of Western Europe, driven by the expansion of key players into the region. Symrise recently launched a new liquid flavouring production line in Rogovo, Russia. The new production line will help the company expand its presence in the country by enabling them to produce flavourings, which can be utilised to produce dairy products, sweets, and beverages.

Market Analysis by Types, Flavouring Agents, Forms, Applications, and Regions:

  • Flavours and fragrances can be bifurcated into natural and synthetic.
  • Fragrances are commonly found in synthetic and natural types with the natural types being further categorised into flowers, fruits, musk, wood, and spice, among others.
  • Nature identical flavouring substance, artificial flavouring substance, and natural flavour are the major flavouring agents available in the market.
  • Liquid and dry forms are the common forms of flavours.
  • Flavours are used in beverage, bakery and confectionery products, dairy and frozen desserts, and savouries and snacks, among others.
  • Soap and detergents, fine fragrances, cosmetics and toiletries, and household cleaners and air fresheners are the leading application sectors for fragrances.
  • Germany, UK, France, and Italy are the major regional markets for flavours and fragrances in Europe, among other countries.

Key Findings of the Report:

  • The Europe flavours and fragrances market is being aided by the rising demand and consumption of healthy and low-calorie food and beverages.
  • The market is being driven by the robust growth of the cosmetics industry, along with the increasing demand for premium personal care products.
  • The rising consumer preference for natural products in the region is also driving the demand for natural flavours and fragrances.
  • The growing innovations taking place in the industry is providing further impetus for its growth.
  • The rising consumption of global and processed food is expected to boost the flavour segment growth in Europe.
  • The diversification of flavour applications in sectors like nutraceutical and dietary supplements will further aid the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global flavours and fragrances market for the periods (2014-2018) and (2019-2024), covering the segments and regional markets of the industry.
  • The report provides an in-depth analysis of the historical (2014-2018) and forecasted (2019-2024) markets for flavours and fragrances in Europe, looking into their segments, types, and regional markets.
  • It offers a detailed assessment of the flavouring agents, forms, and applications segments of the flavours in the Europe market for the historical (2014-2018) and future (2019-2024) periods.
  • It also analyses the types and applications of the flavours in the Europe market for the periods (2014-2018) and (2019-2024).

Givaudan SA, Firmenich SA, Symrise AG, International Flavors & Fragrances, Inc.,  Takasago International Corp, Mane SA, Sensient Technologies Corp., Wild Flavors, Inc., Robertet Group, T. Hasegawa Co., Ltd., and Kerry Group are the key players in the Europe flavours and fragrances market as identified by the report by EMR. The comprehensive report gives a detailed insight into the latest market share, capacity, investments, mergers and acquisitions, capacity expansions, and plant turnarounds of these key players.

About Us:

EMR is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At EMR, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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"Europe Flavours and Fragrances Market: By Segment: Flavours, Fragrances; By Type: Synthetic, Natural; By Region: Germany, UK, France, Italy, Others; By Flavouring Agent: Nature Identical Flavouring Substance, Artificial Flavouring Substance, Natural Flavour; By Forms: Liquid, Dry; By Applications: Beverage, Bakery and Confectionery Products, Dairy and Frozen Desserts, Savouries & snacks, Others; By Natural Fragrances Types: Flowers, Fruits, Musk, Wood, Spice, Others; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Competitive Landscape"

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