The global flavours and fragrances market is dominated by Europe, which accounts for over 25% of the market. Within Europe, Germany is the leading market, driven by the robust cosmetics and food and beverage industries in the country. The industry in Germany is also finding impetus for its growth in the high disposable incomes of the consumers. While Western Europe dominates the flavours and fragrances market at present, Eastern European markets are expected to witness comparatively faster growth in the coming years. North America and the Asia Pacific are the other significant markets, globally. The flavours and fragrances market in these regions are being driven by the rising demand for food and beverages that are low in fats, calories, and carbohydrates. The increasing obesity rates are leading to increased demand for low-calorie foods. Since such food and beverage products require added flavouring, the segment growth in major markets is aiding the flavours industry. The higher penetration of soaps and detergents in emerging economies like India is propelling the growth of the fragrances market. The rising consumption of scented personal care products in China and India is also aiding the growth of the fragrance segment, especially in the Asia Pacific market. Thus, soaps and detergents, along with toiletries and cosmetics, are the leading application sectors for fragrances, accounting for 55% of their applications.
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While synthetic fragrances and nature identical flavouring agents dominate the market, natural flavours and fragrances are witnessing rising demand from the consumers. Thus, the key players in the industry are investing in developing natural flavours and fragrances. In May 2019, Givaudan, a major player in the market, announced its acquisition of the Vietnamese flavour company, Golden Frog, in its bid to expand its naturals capabilities as a part of its 2020 strategy. Golden Frog’s range of natural flavours include spices, herbs, vegetables, and fruits along with natural essential oils. The acquisition also strengthens the company’s presence in the Asia Pacific. With rising environmental concerns, significant companies like Givaudan are investing in developing sustainable flavours and fragrances solution. In 2019, Givaudan opened an Innovation Centre in Switzerland with the aim of creating sustainable flavours and fragrances solutions for home and personal care, and food and beverage industries.
Market Analysis by Types, Flavouring Agent, Forms, Applications, and Regions:
Key Findings of the Report:
Key Offerings of the Market:
Givaudan SA, Firmenich SA, International Flavors & Fragrances, Inc., Symrise AG, Wild Flavors, Inc., Takasago International Corp, Mane SA, Sensient Technologies Corp., Robertet Group, T. Hasegawa Co., Ltd., and Kerry Group are the leading players in the global flavours and fragrances market as identified by EMR. The report by EMR covers the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions among these key players.
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"Global Flavours and Fragrances Market: By Segment: Flavours, Fragrances; By Type: Synthetic, Natural; By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa; 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 and Snacks, Others; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Competitive Landscape"
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The North America Flavours and Fragrances Market is aiding the global market growth, which attained a value of USD 28 billion in 2019. The North America industry is expected to grow at a steady pace...
The Middle East and Africa Flavours and Fragrances Market is aided by the growth of the global market, which reached USD 28 billion in 2019. The industry in the Middle East and Africa is expected to ...
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