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GCC Flavours and Fragrances Market is Expected to Grow at a Healthy Pace During 2021-2026, Aided by the Growth of the Overall MEA Flavours and Fragrances Industry

According to a new report by EMR titled, ‘GCC Flavours and Fragrances Market Report and Forecast 2021-2026’, the market is being aided by the growth of the MEA flavours and fragrances industry, which attained a value of about USD 2.6 billion in 2020. The MEA flavours and fragrances industry is further expected to grow at a CAGR of 6% in the forecast period of 2021-2026 to reach a value of nearly USD 3.7 billion by 2026.

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.

Market Analysis by Segment, Type, Form, Application, and Region:

  • The market, on the basis of segment, can broadly be divided into flavours and fragrances. 
  • The GCC market for flavours, based on type, can be divided into artificial, natural, and nature-identical. 
  • The GCC market for flavours, based on form, can be categorised into liquid and dry.
  • The GCC market for flavours, on the basis of application, can be segmented into beverages, dairy and frozen desserts, savouries and snacks, and bakery and confectionary products, among others.
  • The GCC market for fragrances, based on type, can be classified into synthetic and natural.
  • The GCC market for fragrances, on the basis of application, can be categorised into soap and detergents, cosmetics and toiletries, fine fragrances, and household cleaners and fresheners, among others.
  • The regional markets for flavours and fragrances in the GCC region are Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman.

Key Findings of the Report:

  • The fragrances segment of the GCC market for flavours and fragrances is being driven by the deployment of ingenious fragrances in cosmetic products, owing to the emergence of the cosmetic industry in the region.
  • International demand for native fragrances in the form of perfumes, incense sticks, and room fresheners is accelerating market growth.
  • Owing to the presence of multi-culture diversity in major GCC countries, flavours and fragrances are witnessing robust demand in various applications. Thereby boosting the market growth.
  • Export of natural spices found in the Gulf region throughout the world is further augmenting the industry growth. 

Key Offerings of the Report:

  • The EMR report gives an overview of the flavours and fragrances industry in the GCC region for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) markets for types, forms, applications, and regions for flavours; and types, applications, and regions for fragrances.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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