Asia Pacific Flavours and Fragrances Market: By Flavouring Agent: Nature Identical Flavouring Substance, Artificial Flavouring Substance, Natural Flavour; By Flavour Forms: Liquid, Dry; By Fragrance Types: Synthetic, Natural; By Natural Fragrance Types: Flowers, Fruits, Musk, Wood, Spice, Others; By Flavour Applications: Beverage, Bakery and Confectionery Products, Dairy and Frozen Desserts, Savouries & snacks, Others; By Region: China, India, Japan, Others; SWOT Analysis; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); Competitive Landscape


Asia Pacific Flavours and Fragrances Market Key Insights:

  • Market Analysis & Outlook 2019-2024
  • Market Performance
  • Price Trends
  • Trade Data Analysis
  • Breakup by Application
  • Breakup by Region
  • Competitive Landscape
  • Value Chain Analysis
  • Cost Analysis

 

Market Outlook

The Asia Pacific Flavours and Fragrances Market attained nearly USD 7 billion in 2018. It is expected to witness a further growth in the forecast period of 2019-2024, growing at a CAGR of 4.8%. In 2024, it is projected to attain USD 9.2 billion.

APAC Flavour and Fragrance Market Report and Forecast 2019-2024

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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.

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.

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

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.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Demand Drivers
    3.3    Top Global Suppliers
    3.4    Supply Market Changes
4    Global Flavours and Fragrances Market Outlook     
5    Global Flavours and Fragrances Market 

    5.1    Global Flavours and Fragrances Market Analysis
        5.1.1    Figure: Global Flavours & Fragrances Historical Market (2014-2018) & Forecast (2019-2024)
        5.1.2    Chart:  Global Flavours and Fragrances Market Breakup by Region
            5.1.2.1    North America
            5.1.2.2    Europe
            5.1.2.3    Asia Pacific
            5.1.2.4    LATAM
            5.1.2.5    Middle East and Africa 
        5.1.3    Figure:  Global Flavours and Fragrances Market Breakup by Region: Historical Market (2014-2018) and Forecast (2019-2024)
            5.1.3.1    North America
            5.1.3.2    Europe
            5.1.3.3    Asia Pacific
            5.1.3.4    LATAM
            5.1.3.5    Middle East and Africa
6    Asia Pacific Flavours and Fragrances Market 
    6.1    Asia Pacific Flavours and Fragrances Market Analysis

        6.1.1    Figure: Asia Pacific Flavours and Fragrances Historical Market (2014-2018) & Forecast (2019-2024)
        6.1.2    Chart: Breakup by Flavouring Agent
            6.1.2.1    Nature Identical Flavouring Substance
            6.1.2.2    Artificial Flavouring Substance
            6.1.2.3    Natural Flavour
        6.1.3    Figure: Breakup by Flavouring Agent: Historical Market (2014-2018) and Forecast (2019-2024)
            6.1.3.1    Nature Identical Flavouring Substance
            6.1.3.2    Artificial Flavouring Substance
            6.1.3.3    Natural Flavour
        6.1.4    Chart: Breakup by Flavour Forms
            6.1.4.1    Liquid
            6.1.4.2    Dry
        6.1.5    Figure: Breakup by Flavour Forms: Historical Market (2014-2018) and Forecast (2019-2024)
            6.1.5.1    Liquid
            6.1.5.2    Dry
        6.1.6    Chart: Breakup by Fragrance Types
            6.1.6.1    Synthetic
            6.1.6.2    Natural
        6.1.7    Figure: Breakup by Fragrance Types: Historical Market (2014-2018) and Forecast (2019-2024)
            6.1.7.1    Synthetic
            6.1.7.2    Natural
        6.1.8    Chart: Breakup by Natural Fragrance Types
            6.1.8.1    Flowers
            6.1.8.2    Fruits
            6.1.8.3    Musk
            6.1.8.4    Wood
            6.1.8.5    Spice
            6.1.8.6    Others
        6.1.9    Figure: Breakup by Natural Fragrance Types: Historical Market (2014-2018) and Forecast (2019-2024)
            6.1.9.1    Flowers
            6.1.9.2    Fruits
            6.1.9.3    Musk
            6.1.9.4    Wood
            6.1.9.5    Spice
            6.1.9.6    Others
        6.1.10    Chart: Breakup by Flavour Applications
            6.1.10.1    Beverage
            6.1.10.2    Bakery and Confectionery Products
            6.1.10.3    Dairy and Frozen Desserts
            6.1.10.4    Savouries & snacks
            6.1.10.5    Others
        6.1.11    Figure: Breakup by Flavour Applications: Historical Market (2014-2018) and Forecast (2019-2024)
            6.1.11.1    Beverage
            6.1.11.2    Bakery and Confectionery Products
            6.1.11.3    Dairy and Frozen Desserts
            6.1.11.4    Savouries & snacks
            6.1.11.5    Others
        6.1.12    Chart: Breakup by Region
            6.1.12.1    China
            6.1.12.2    India
            6.1.12.3    Japan
            6.1.12.4    Others
        6.1.13    Figure: Breakup by Region: Historical Market (2014-2018) and Forecast (2019-2024)
            6.1.13.1    China
            6.1.13.2    India
            6.1.13.3    Japan
            6.1.13.4    Others 
    6.2    SWOT Analysis
        6.2.1    Overview
        6.2.2    Strengths
        6.2.3    Weaknesses
        6.2.4    Opportunities
        6.2.5    Threats
    6.3    Porter’s Five Forces Analysis
        6.3.1    Overview
        6.3.2    Buyer’s Power
        6.3.3    Supplier’s power
        6.3.4    New Entrants
        6.3.5    Degree of Rivalry
        6.3.6    Substitutes
7    Competitive Landscape & Supplier Analysis
    7.1    Givaudan SA
    7.2    Firmenich SA
    7.3    International Flavors & Fragrances, Inc.
    7.4    Symrise AG
    7.5    Wild Flavors, Inc.
    7.6    Takasago International Corp
    7.7    Guangzhou Baihua Flavours and Fragrances Company Ltd
    7.8    Snowco Industrial Co., Ltd
    7.9    T. Hasegawa Co., Ltd. 
    7.10    Guangdong ADD Flavor & Fragrance Co., Ltd.
    7.11    Guangdong Wincom Flavors & Fragrances Co., Ltd.
    7.12    Aarav Fragrances & Flavors Pvt.Ltd
8    Events and Developments

Additional Customisation Available:

9    Manufacturing Process
    9.1     Detailed Process Flow
    9.2     Operations Involved
    9.3     Mass Balance
10    Cost Analysis
    10.1    Land, Location and Site Development
    10.2    Construction
    10.3    Plant Machinery
    10.4    Cost of Raw Material
    10.5    Packaging
    10.6    Transportation
    10.7    Utilities
    10.8    Manpower
    10.9    Other Capital Investment
11    Value Chain Analysis

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