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The strong penetration of the food and beverage industry in the GCC region is augmenting the market growth of flavours and fragrances. The introduction of new and innovative food products, including canned, ready-to-eat, and ready-to-cook products, owing to the presence of working-class populations and the flourishing tourism sector in the region, is boosting the demand for food flavours, and consequently aiding the market growth. Further, flavours are added to enhance the aroma and taste of the food item in order to make it more desirable. Therefore, the rising demand for various flavours to prepare various cuisines is surging the market growth. Furthermore, the fragrances segment of the GCC flavours and fragrances industry is witnessing demand from cleaning agents like hand-washes, sanitisers, and household cleaners, particularly after the advent of COVID-19. In addition, the demand for fragrances from the established cosmetic and personal care industry is driving the industry growth.
Firmenich SA, a global leader in the flavours and fragrances industry, recently launched its latest product in the fragrances segment, Scentmate, in June 2021. Scentmate is the first fully integrated, AI equipped fragrances platform. It is designed to guide customers and brands to co-create fragrances best suited to their needs offering access to creativity and available resources. The product aims at delivering entrepreneurs and small brands to recreate their business model by producing customised perfumes and conveniently deliver samples and orders to their doorsteps efficiently. The user-friendly platform, bolstered by human creation, is anticipated to augment the demand for fragrances in the GCC region and thereby aid in market growth.
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The major players in the GCC flavours and fragrances market are International Flavors & Fragrances Inc., Givaudan SA, Firmenich SA, and Gulf Flavours & Food Ingredients FZCO, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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