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Asia Pacific Flavours and Fragrances Market Size, Share: By Product Types: Nature Identical, Artificial, Natural; By Form: Liquid, Dry, By Applications: Beverage, Bakery and Confectionery Products, Dairy and Frozen Desserts, Savouries and Snacks, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Asia Pacific Flavours and Fragrances Market Outlook
The Asia Pacific Flavours and Fragrances Market attained nearly USD 7.35 billion in 2020. It is aided by the global market growth, which is expected to witness a growth at a CAGR of 5.0% in the forecast period of 2024-2032.
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The Asia Pacific Flavours and Fragrances Market is the leading industry after Europe and North America. The region is expected to be driven by the rising demand from emerging economies in the region like China and India. China is the largest flavours and fragrances market in the Asia Pacific region, accounting for over 40% of the regional market. China was followed by Japan and India as the other significant markets in the region. In the coming years, emerging nations like China and India are projected to witness faster growth than mature markets like Japan. The regional market is being driven by the growing population and the rising middle class. The middle class, especially, is defining the consumption patterns of the region leading to the increasing demand for flavours and fragrances from their major application sectors. The potential for growth of the Asia Pacific market is also leading to increased investment into the region by major global players.
India is a significant market, not just in the Asia Pacific but also in the global market. It is a major export market, exporting over three-fourths of its domestic production of flavour and fragrances ingredients. It is also a leading supplier of natural ingredients and caters to nearly 80% of the global demand for mint extracts. Thus, the Indian industry is being aided by the growing global demand for natural products and ingredients. However, the majority of the industry in India lies in the unorganised sector, which caters to products like incense sticks. The organised sector might be aided in the coming years by government schemes seeking to make the economy more formalised.
Properties and Applications
While flavour refers to the specific taste of a substance, fragrance is the sweet and pleasant odour of a product. They both can be added to products like foods, beverages, and cosmetics, among others to augment the taste and smell of these items to appeal to the consumers.
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By flavouring agents, flavours can be categorised as nature identical, artificial, and natural flavouring substances, which are available in liquid and dry forms. They find their applications in sectors like:
- Beverage
- Dairy and Frozen Desserts
- Savouries and Snacks
- Bakery and Confectionery Products
- Others
Fragrances can either be made of synthetic or natural ingredients. The types of natural fragrances available in the market are flowers, fruits, musk, wood, and spice, among others. Fragrances find their applications in:
- Soap and Detergents
- Cosmetics and Toiletries
- Fine Fragrances
- Household Cleaners and Air Fresheners
- Others
The report also gives a detailed analysis of the regional markets in the Asia Pacific like China, Japan, and India.
Market Analysis
The Asia Pacific flavours and fragrances market is being driven by the growing population and rapid urbanisation. The increase in GDP of the major markets in the region is also aiding the industry. In India, the rising penetration of fragrance-based products like soaps and detergents are aiding the industry. The flavour segment in the Asia Pacific is being driven by the increased consumption of processed foods which require additional flavouring. The segment is also witnessing a rising demand from the beverage sector due to a rising consumption of fruit juices and the consumer demand for unique flavours. The growth in the health and nutrition segment of the food and beverage sector, particularly in the urban areas, is providing a further impetus for the growth of the flavour industry.
The rising personal care and beauty industry in the Asia Pacific is driving the market growth. The Asia Pacific is the fastest growing beauty market, globally. The fast-rising high-income class in the region is aiding the growth of luxury beauty products, which are propelling the fragrance sector forward. As consumer perception is changing from perceiving fragranced beauty products as a luxury to perceiving them as a necessity, the fragrance segment is witnessing a growth in the region. Higher penetration of fine fragrance and deodorants in the Asia Pacific flavours and fragrances market is also aiding the industry. The industry is also being aided by the introduction of ingredients and products which meet the diverse cultural sensibilities of the area like halal ingredients catering to the region’s large Muslim population. The rising consumption of products such as room fresheners and car perfumes are further propelling the industry forward.
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Competitive Landscape
The report gives a detailed insight into the following key players in the Asia Pacific Flavours and Fragrances Market, looking into their capacity, market share, and latest developments like plant turnarounds, mergers and acquisitions, and expansions of capacity:
- Givaudan SA
- Firmenich SA
- International Flavors & Fragrances, Inc.
- Symrise AG
- WILD Flavors, Inc.
- Takasago International Corp
- Guangzhou Baihua Flavours and Fragrances Company Ltd
- Snowco Industrial Co., Ltd
- Guangdong ADD Flavor & Fragrance Co., Ltd.
- Guangdong Wincom Flavors & Fragrances Co., Ltd.
- T. Hasegawa Co., Ltd.
- AARAV Fragrances & Flavors Pvt.Ltd
- Snowco Industrial Co., Ltd
The EMR report provides an in-depth look into the market, giving an analysis of Porter’s Five Forces as well as a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Flavouring Agent, Flavour Form, Fragrance Type, Natural Fragrance Type, Flavour Application, Region |
| Breakup by Flavouring Agent | Nature Identical Flavouring Substance, Artificial Flavouring Substance, Natural Flavours |
| Breakup by Flavour Form | Liquid, Dry |
| Breakup by Fragrance Type | Synthetic, Natural |
| Breakup by Natural Fragrance Type | Flowers, Fruits, Musk, Wood, Spice, Others |
| Breakup by Flavour Application | Beverage, Bakery and Confectionery Products, Dairy and Frozen Desserts, Savouries and Snacks, Others |
| Breakup by Region | China, India, Japan, Others |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Givaudan SA, Firmenich SA, International Flavors & Fragrances, Inc., Symrise AG, Wild Flavors, Inc., Takasago International Corp, Guangzhou Baihua Flavours and Fragrances Company Ltd, Snowco Industrial Co., Ltd, T. Hasegawa Co., Ltd., Guangdong ADD Flavor & Fragrance Co., Ltd., Guangdong Wincom Flavors & Fragrances Co., Ltd., Aarav Fragrances & Flavors Pvt.Ltd., Snowco Industrial Co., Ltd, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Asia Pacific
7 Industry Opportunities and Challenges
8 Asia Pacific Flavours Market Analysis
8.1 Key Industry Highlights
8.2 Asia Pacific Flavours Historical Market (2018-2023)
8.3 Asia Pacific Flavours Market Forecast (2024-2032)
8.4 Asia Pacific Flavours Market by Product Types
8.4.1 Nature Identical
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Artificial
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Natural
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Asia Pacific Flavours Market by Form
8.5.1 Liquid
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Dry
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 Asia Pacific Flavours Market by Applications
8.6.1 Beverage
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Bakery and Confectionery Products
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Dairy and Frozen Desserts
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Savouries and Snacks
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Asia Pacific Flavours Market by Country
8.7.1 Market Share
8.7.1.1 China
8.7.1.1.1 Historical Trend (2018-2023)
8.7.1.1.2 Forecast Trend (2024-2032)
8.7.1.2 India
8.7.1.2.1 Historical Trend (2018-2023)
8.7.1.2.2 Forecast Trend (2024-2032)
8.7.1.3 Japan
8.7.1.3.1 Historical Trend (2018-2023)
8.7.1.3.2 Forecast Trend (2024-2032)
8.7.1.4 ASEAN
8.7.1.4.1 Historical Trend (2018-2023)
8.7.1.4.2 Forecast Trend (2024-2032)
8.7.1.5 Australia
8.7.1.5.1 Historical Trend (2018-2023)
8.7.1.5.2 Forecast Trend (2024-2032)
8.7.1.6 Others
9 Asia Pacific Fragrances Market Analysis
9.1 Key Industry Highlights
9.2 Asia Pacific Fragrances Historical Market (2018-2023)
9.3 Asia Pacific Fragrances Market Forecast (2024-2032)
9.4 Asia Pacific Fragrances Market by Ingredients
9.4.1 Synthetic
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2023)
9.4.1.3 Forecast Trend (2024-2032)
9.4.2 Natural
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2023)
9.4.2.3 Forecast Trend (2024-2032)
9.5 Asia Pacific Fragrances Market by Natural Fragrance Types
9.5.1 Flowers
9.5.1.1 Market Share
9.5.1.2 Historical Trend (2018-2023)
9.5.1.3 Forecast Trend (2024-2032)
9.5.2 Fruit
9.5.2.1 Market Share
9.5.2.2 Historical Trend (2018-2023)
9.5.2.3 Forecast Trend (2024-2032)
9.5.3 Musk
9.5.3.1 Market Share
9.5.3.2 Historical Trend (2018-2023)
9.5.3.3 Forecast Trend (2024-2032)
9.5.4 Wood
9.5.4.1 Market Share
9.5.4.2 Historical Trend (2018-2023)
9.5.4.3 Forecast Trend (2024-2032)
9.5.5 Spice
9.5.5.1 Market Share
9.5.5.2 Historical Trend (2018-2023)
9.5.5.3 Forecast Trend (2024-2032)
9.5.6 Others
9.6 Asia Pacific Fragrances Market by Applications
9.6.1 Soap and Detergents
9.6.1.1 Market Share
9.6.1.2 Historical Trend (2018-2023)
9.6.1.3 Forecast Trend (2024-2032)
9.6.2 Cosmetics and Toiletries
9.6.2.1 Market Share
9.6.2.2 Historical Trend (2018-2023)
9.6.2.3 Forecast Trend (2024-2032)
9.6.3 Fine Fragrances
9.6.3.1 Market Share
9.6.3.2 Historical Trend (2018-2023)
9.6.3.3 Forecast Trend (2024-2032)
9.6.4 Households Cleaners and Fresheners
9.6.4.1 Market Share
9.6.4.2 Historical Trend (2018-2023)
9.6.4.3 Forecast Trend (2024-2032)
9.6.5 Others
9.7 Asia Pacific Fragrances Market by Country
9.7.1 Market Share
9.7.1.1 China
9.7.1.1.1 Historical Trend (2018-2023)
9.7.1.1.2 Forecast Trend (2024-2032)
9.7.1.2 India
9.7.1.2.1 Historical Trend (2018-2023)
9.7.1.2.2 Forecast Trend (2024-2032)
9.7.1.3 Japan
9.7.1.3.1 Historical Trend (2018-2023)
9.7.1.3.2 Forecast Trend (2024-2032)
9.7.1.4 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Givaudan SA
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Firmenich SA
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 International Flavors & Fragrances, Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Symrise AG
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Wild Flavors, Inc.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Takasago International Corp
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Guangzhou Baihua Flavours and Fragrances Company Ltd
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Guangdong ADD Flavor & Fragrance Co., Ltd.
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Guangdong Wincom Flavors & Fragrances Co., Ltd.
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 T. Hasegawa Co., Ltd.
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 AARAV Fragrances & Flavors Pvt. Ltd
13.2.11.1 Company Overview
13.2.11.2 Product Portfolio
13.2.11.3 Demographic Reach and Achievements
13.2.11.4 Certifications
13.2.12 Snowco Industrial Co., Ltd
13.2.12.1 Company Overview
13.2.12.2 Product Portfolio
13.2.12.3 Demographic Reach and Achievements
13.2.12.4 Certifications
13.2.13 Others
14 Industry Events and Developments
List of Key Figures and Tables
1. Asia Pacific Flavours Market: Key Industry Highlights, 2018 and 2032
2. Asia Pacific Flavours Historical Market: Breakup by Product Types (USD Million), 2018-2023
3. Asia Pacific Flavours Market Forecast: Breakup by Product Types (USD Million), 2024-2032
4. Asia Pacific Flavours Historical Market: Breakup by Form (USD Million), 2018-2023
5. Asia Pacific Flavours Market Forecast: Breakup by Form (USD Million), 2024-2032
6. Asia Pacific Flavours Historical Market: Breakup by Applications (USD Million), 2018-2023
7. Asia Pacific Flavours Market Forecast: Breakup by Applications (USD Million), 2024-2032
8. Asia Pacific Flavours Historical Market: Breakup by Country (USD Million), 2018-2023
9. Asia Pacific Flavours Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Asia Pacific Fragrance Market: Key Industry Highlights, 2018 and 2032
11. Asia Pacific Fragrances Historical Market: Breakup by Ingredients (USD Million), 2018-2023
12. Asia Pacific Fragrances Market Forecast: Breakup by Ingredients (USD Million), 2024-2032
13. Asia Pacific Fragrances Historical Market: Breakup by Natural Fragrance Types (USD Million), 2018-2023
14. Asia Pacific Fragrances Market Forecast: Breakup by Natural Fragrance Types (USD Million), 2024-2032
15. Asia Pacific Fragrances Historical Market: Breakup by Applications (USD Million), 2018-2023
16. Asia Pacific Fragrances Market Forecast: Breakup by Applications (USD Million), 2024-2032
17. Asia Pacific Fragrances Historical Market: Breakup by Country (USD Million), 2018-2023
18. Asia Pacific Fragrances Market Forecast: Breakup by Country (USD Million), 2024-2032
19. Asia Pacific Flavours and Fragrances Market Structure
Key Questions Answered in the Report
The Asia Pacific flavours and fragrances market reached a value of USD 7.35 billion in 2020.
The market is expected to be aided by the global market growth, which is projected to grow at a CAGR of nearly 5% in the forecast period of 2024-2032.
The major drivers of the industry include rising disposable incomes, increasing population, rising middle class, and the rising demand from the food and cosmetics market.
The rising demand for natural and organic ingredients is expected to be a key trend guiding the growth of the industry.
China, Japan, and India, among others, are the leading regions in the market, with China accounting for the largest market share.
The major flavouring agents in the industry include nature identical flavouring substance, artificial flavouring substance, and natural flavour.
The leading fragrance types available in the market include synthetic and natural.
The significant flavour forms in the industry are liquid and dry.
The major natural fragrances types in the market are flowers, fruit, musk, wood, and spice, among others.
Flavours find wide applications in beverage, dairy and frozen desserts, savouries and snacks, and bakery and confectionery products, among others. Fragrances have applications in soap and detergents, cosmetics and toiletries, fine fragrances, household cleaners and air fresheners, and others.
The leading players in the market are Givaudan SA, Firmenich SA, International Flavors & Fragrances, Inc., Symrise AG, Wild Flavors, Inc., Takasago International Corp, Guangzhou Baihua Flavours and Fragrances Company Ltd, Snowco Industrial Co., Ltd, T. Hasegawa Co., Ltd., Guangdong ADD Flavor & Fragrance Co., Ltd., Guangdong Wincom Flavors & Fragrances Co., Ltd., Aarav Fragrances & Flavors Pvt.Ltd., Snowco Industrial Co., Ltd, Others.
Analyst Review
The Asia Pacific flavours and fragrances market attained a value of USD 7.35 billion in 2020, driven by the growth in the personal care and beauty industry. Aided by the rising consumption of products such as room fresheners and car perfumes, the global flavours and fragrances market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5%.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. By fragrance type, the market can be divided into synthetic and natural. Based on flavouring agents, the Asia Pacific market for flavours and fragrances can be segmented into nature identical flavouring substance, artificial flavouring substance, and natural flavour. On the basis of flavour forms, the industry is bifurcated into liquid and dry. By applications, the flavours industry is segmented into in beverage, dairy and frozen desserts, savouries and snacks, and bakery and confectionery products, among others. By natural fragrances type, the market can be divided into flowers, fruits, musk, wood, and spice, among others. On the basis of application, the fragrance industry is segmented into soap and detergents, cosmetics and toiletries, fine fragrances, household cleaners and air fresheners, and others, while flavours find their applications in beverage, dairy and frozen desserts, savouries and snacks, and bakery and confectionery products, among others. The major regional markets for flavours and fragrances in the Asia Pacific are China, Japan, India, ASEAN, and Australia, among others. The key players in the above industry include Givaudan SA, Firmenich SA, International Flavors & Fragrances, Inc., Symrise AG, Wild Flavors, Inc., Takasago International Corp, Guangzhou Baihua Flavours and Fragrances Company Ltd, Snowco Industrial Co., Ltd, T. Hasegawa Co., Ltd., Guangdong ADD Flavor & Fragrance Co., Ltd., Guangdong Wincom Flavors & Fragrances Co., Ltd., Aarav Fragrances & Flavors Pvt.Ltd., Snowco Industrial Co., Ltd, Others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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