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The North America flavours and fragrances market is the second-largest regional market after Europe. The region, much like Western Europe, is a mature market, driven by the rising high-income class population, especially in the United States. Almost half of the world's high-income population is believed to become North America residents by the end of this decade. The high-income class is propelling the demand for premium products like organic foods and high-end cosmetics. The rising disposable incomes being witnessed by the middle-class population is aiding the market growth due to the growing consumption of products imbued with additional flavours such as processed foods and beverage products. Globally, the flavours and fragrances market is led by Europe, accounting for over a quarter of the industry. The Europe market is being driven by the thriving personal care and growing food and beverage and beauty sectors. Germany, the United Kingdom, and France are the leading regional markets of Western Europe. However, Eastern Europe is expected to witness a faster growth than Western Europe in the coming years.
The rising R&D activities by the leading players in the industry is expected to drive the North America flavours and fragrances market growth. In October 2020, International Flavors & Fragrances, Inc. (NYSE: IFF), a leading innovator of scent, taste, and nutrition, opened a Centre of Excellence for Food Service and Seasonings in Carrollton, Texas. This site is located near the Company's existing facility and greatly enhances its ability to deliver to its customers with innovative offerings and represents a substantial investment into its foodservice strategy, along with its value-added seasonings and savoury solutions.
Market Analysis by Segment, Type, Flavouring Agent, Forms, Applications, and Region:
Key Findings of The Report:
Key Offerings of the Report:
Givaudan SA, Firmenich SA, International Flavors & Fragrances, Inc., Symrise AG, Wild Flavors, Inc., Takasago International Corporation, The MANE Group, Sensient Technologies Corporation, The Robertet Group, Kerry Group plc, Others are the key players in the North America flavours and fragrances market as identified by EMR. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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