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Middle East and Africa Flavours and Fragrances Market to Grow at a CAGR of 5.9% between 2019 and 2024

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"According to a new report by EMR titled, ‘Middle East and Africa Flavours and Fragrances Market Report and Forecast 2019-2024’, the flavours and fragrances market in the Middle East and Africa is being driven by the growth of the overall global market, which attained a value of USD 27.5 billion in 2018. The market in the Middle East and Africa is projected to grow at a CAGR of 5.9% in the forecast period of 2019-2024."

The global flavours and fragrances market is expected to witness a faster growth within the emerging regions as compared to the developed countries. Thus, regional markets like the Middle East and Africa flavours and fragrances market are projected to witness a robust growth in the forecast period. The regional market is being driven by the growing urbanisation in the region, along with the rise in the disposable incomes of the consumers. The flavours and fragrances market in the Middle East and Africa is also being driven by the growing innovation taking place within the industry, leading to greater diversification of the products. As major players are seeking to develop products which cater to the region’s particular cultural demands, like halaal and alcohol-free products, the market in the region is projected to grow further. Nicola-J Flavours and Fragrances, a significant player in the regional market, includes halaal certified products in its portfolio.

The Middle East and Africa market is being further propelled forward by the increasing expansions by the major global players within the region. The Switzerland-based flavours and fragrances company, Givaudan (OTCMKTS: GVDBF) aims to expand in high growth markets like Africa as a part of its 2020 high-growth markets strategy. As a part of its 2020 strategy, the Swiss company inaugurated its flavours and commercial centre in Morocco in January 2019. The centre, which caters to beverages, savoury, sweetened goods, snacks, and dairy segments, will serve consumers in African countries like Ivory Coast, Algeria, Tunisia, Morocco, Senegal, and Guinea. With Givaudan’s recent acquisition of Flavours Oils in August 2019, the company is expected to increase its presence in the African markets further.

Market Analysis by Type, Flavouring Agent, Forms, Applications, and Regions:

  • By type, the flavours and fragrances market can be bifurcated into synthetic and natural, with natural fragrance being further divided into flowers, fruits, musk, wood, and spice, among others.
  • Nature identical flavouring substance, natural flavours, and artificial flavouring substance are the major flavouring agents available in the market.
  • Flavours can be categorised as liquid and dry, according to their forms.
  • While flavours find their applications in segments like beverage, bakery and confectionery products, dairy and frozen desserts, savouries and snacks, and others, fragrances find their application in soap and detergents, cosmetics and toiletries, fine fragrances, and household cleaners and air fresheners, among others.
  • Saudi Arabia, United Arab Emirates, South Africa, and Turkey , among others, are the major regional markets for flavours and fragrances in the Middle East and Africa.

Key Findings of the Report:

  • The Middle East and Africa flavours and fragrances is being driven by the rising consumption of processed foods and dairy products.
  • The rising population of younger consumers is expected to aid the market growth further.
  • The flavours industry in the region is being driven by the growing demand for regional flavours.
  • The rising R&D undertakings by major players and increasing innovations within the region is expected to provide further impetus for the industry growth.
  • The robustly growing perfume industry in the Middle Eastern countries like the United Arab Emirates and Saudi Arabia is aiding the fragrance industry in the region.
  • The robustly growing cosmetics industry in the region is acting as a catalyst for the flavours and fragrances market in the Middle East and Africa.
  • The premium segment is expected to witness a healthy growth due to the rise in the population of high-income consumers.
  • In the forecast period, the markets in the African countries, especially, are projected to witness a healthy growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global as well as the Middle East and Africa flavours and fragrances market for the periods (2014-2018) and (2019-2024), covering their segments, types, and regional markets.
  • The report provides an in-depth insight into the historical (2014-2018) and forecasted (2019-2024) markets for the flavouring agents, forms, and applications of flavours in the Middle East and Africa market.
  • It also offers detailed analysis of the types and applications of fragrances for the periods (2014-2018) and (2019-2024).

The key players in the Middle East and Africa flavours and fragrances market are Givaudan SA, Firmenich SA, Balirom Ltd., Frutarom Industries Ltd., Kato Flavors & Fragrances S.A.E, and Nicola-J Flavours and Fragrance. The report by EMR covers their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds.

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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"Middle East and Africa Flavours and Fragrances Market: By Segment: Flavours, Fragrances; By Type: Synthetic, Natural; By Region: Saudi Arabia, United Arab Emirates, Turkey, South Africa, 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 and Snacks, Others; Fragrances By Types: Flowers, Fruits, Musk, Wood, Spice, Others; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); SWOT Analysis; Competitive Landscape"

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