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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 2021 high-growth markets strategy. As a part of its 2021 strategy, the Swiss company inaugurated its flavours and commercial centre in Morocco in January 2020. 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 2020, the company is expected to increase its presence in the African markets further.
Market Analysis by Type, Flavouring Agent, Forms, Applications, and Regions:
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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.
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