Global Flavours and Fragrances Market Key Insights:
The global flavours and fragrances market is expected to attain nearly USD 28.90 billion in 2019. It is projected to grow further in the coming years, growing at CAGR of 5.1% in the forecast period of 2020-2025. In 2025, the industry is estimated to reach USD 38.95 billion.
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While consumers are increasingly demanding natural flavours and fragrances, the higher costs of natural products are proving to be a hindrance. Thus, in the fragrance sector, synthetic scents are being preferred due to their lower cost. Nature identical flavouring agents are also proving to be more popular than natural or artificial flavouring agents, and currently dominate the flavour segment. According to form, liquid form dominates the flavour Industry. Flavours find the majority of their application in the beverage and dairy segments, which together account for over half the applications of the product. The industry is aided by the rising demand for RTD and low-calorie beverages. As consumers are moving away from carbonated drinks, the flavoured milk segment is witnessing a growth, further aiding the flavour industry. Soap, detergents, toiletries, and cosmetics, on the other hand, account for over 55% of the fragrance applications.
Europe is the largest flavours and fragrances industry. It accounts for over a quarter of the industry. Germany is the leading market in the region, representing over a fifth of the regional market. Western European economies like the UK and France are the other significant regional markets on the continent. In the coming years, the emerging Eastern European economies are expected to witness a healthy growth. North America and the Asia Pacific are also major players in the industry. While the industry is being driven by the rising demand for low-carbohydrate and low-fat food and beverages in North America, in the Asia Pacific, the industry is being propelled forward due to the increased consumption of scented personal care products, especially in India and China.
Properties and Applications
Flavour and fragrance are felt by the taste and olfactory senses of the body. While flavour refers to the specific taste of the substance, fragrance refers to the pleasant perfume of a product. They can both be infused into various food and non-food products. Fragrances are available in synthetic and natural types. Natural fragrances are further divided into:
They find their applications in soap and detergents, cosmetics and toiletries, fine fragrances, and household cleaners and air fresheners, among others. Flavours, on the other hand, find their applications in beverage, dairy and frozen desserts, savouries and snacks, and bakery and confectionery sectors, among others. They are available in liquid and dry forms, and by flavouring agents are divided into:
The EMR report gives an overview of the regional markets like North America, Latin America, Middle East and Africa, Europe, and the Asia Pacific.
The global Flavours & Fragrances is being driven by the rising population and rapid urbanisation. The increasing disposable incomes combined with the rise in the middle-class population are further driving the industry. The growing awareness of hygiene and cleanliness through marketing campaigns and advertisements is also expected to aid the industry. The rising trend towards natural products is driving the growth of the natural or organic flavours and fragrances. As manufacturers and consumers are becoming more environmentally conscious, major players in the industries are investing in creating a sustainable supply chain. With consumers willing to experiment with new fragrances and flavours, the industry is witnessing a further growth. The industry is being propelled forward by the rising population of younger consumers, especially in the emerging nations, who are defining and changing the consumption patterns.
The industry is expected to witness a robust growth in the coming years, particularly in the emerging economies. With the growth in the spending power of consumers in the emerging economies, cosmetics, toiletries, perfumes, and soaps and detergents are seeing an upsurge in their demand. The growing demand for personal care products, especially those targeting the masses, in the developing economies is aiding the fragrance segment growth. The segment is also witnessing an increase in the more mature markets like North America and Europe due to the increasing demand for premium personal care products. The rising innovations in the segment are providing further impetus for its growth. The flavours segment is being aided by the shift towards low-calorie foods and beverages, which require additional enhancements to their flavours. With busier lifestyles, the demand for convenient foods like RTD beverage and ready-to-drink has been rising, aiding the segment growth. The segment is also being driven by the rising consumption and production of processed foods in developing economies.
The report gives a detailed analysis of the following key players in the global flavour and fragrance market, covering their market share, capacity, and latest developments like plant turnarounds, mergers and acquisitions, and capacity expansions:
The EMR report gives a comprehensive assessment of the market based on Porter’s Five Forces model, along with a SWOT analysis.
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 & Fragrances Market Outlook
5 Global Flavours & Fragrances Market
5.1 Global Flavours and Fragrances Market Analysis
5.1.1 Figure: Global Flavours and Fragrances Historical Market (2015-2019) & Forecast (2020-2025)
5.1.2 Chart: Global Flavours and Fragrances Market Breakup by Segment
5.1.3 Figure: Global Flavours and Fragrances Market Breakup by Segment: Historical Market (2015-2019) & Forecast (2020-2025)
5.1.4 Chart: Global Flavours and Fragrances Market Breakup by Type
5.1.5 Figure: Global Flavours and Fragrances Market Breakup by Type: Historical Market (2015-2019) & Forecast (2020-2025)
5.1.6 Chart: Global Flavours and Fragrances Market Breakup by Region
18.104.22.168 North America
22.214.171.124.1 United States of America
126.96.36.199.2 United Kingdom
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
220.127.116.11 Middle East & Africa
18.104.22.168.1 Saudi Arabia
22.214.171.124.2 United Arab Emirates
126.96.36.199.4 South Africa
5.1.7 Figure: Global Flavours and Fragrances Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
188.8.131.52 North America
184.108.40.206.1 United States of America
220.127.116.11.2 United Kingdom
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
126.96.36.199 Middle East & Africa
188.8.131.52.1 Saudi Arabia
184.108.40.206.2 United Arab Emirates
220.127.116.11.4 South Africa
5.2 Global Flavours Market Analysis
5.2.1 Chart: Global Flavours Market Breakup by Flavouring Agent
18.104.22.168 Nature Identical Flavouring Substance
22.214.171.124 Artificial Flavouring Substance
126.96.36.199 Natural Flavour
5.2.2 Figure: Global Flavours Market Breakup by Flavouring Agent: Historical Market (2015-2019) & Forecast (2020-2025)
188.8.131.52 Nature Identical Flavouring Substance
184.108.40.206 Artificial Flavouring Substance
220.127.116.11 Natural Flavour
5.2.3 Chart: Global Flavours Market Breakup by Forms
5.2.4 Figure: Global Flavours Breakup by Forms: Historical Market (2015-2019) & Forecast (2020-2025)
5.2.5 Chart: Global Flavours Market Breakup by Applications
18.104.22.168 Bakery and Confectionery Products
22.214.171.124 Dairy and Frozen Desserts
126.96.36.199 Savouries and Snacks
5.2.6 Figure: Global Flavours Market Breakup by Applications: Historical Market (2015-2019) & Forecast (2020-2025)
188.8.131.52 Bakery and Confectionery Products
184.108.40.206 Dairy and Frozen Desserts
220.127.116.11 Savouries and Snacks
5.3 Global Fragrances Market Analysis
5.3.1 Chart: Global Fragrances Market Breakup by Types
5.3.2 Figure: Global Fragrances Market Breakup by Types: Historical Market (2015-2019) & Forecast (2020-2025)
5.3.3 Chart: Global Natural Fragrances Market Breakup by Material
5.3.4 Figure: Global Natural Fragrances Market Breakup by Material: Historical Market (2015-2019) & Forecast (2020-2025)
5.3.5 Chart: Global Fragrances Market Breakup by Applications
18.104.22.168 Soap and Detergents
22.214.171.124 Cosmetics and Toiletries
126.96.36.199 Fine Fragrances
188.8.131.52 Household Cleaners and Air Fresheners
5.3.6 Figure: Global Fragrances Market Breakup by Applications: Historical Market (2015-2019) & Forecast (2020-2025)
184.108.40.206 Soap and Detergents
220.127.116.11 Cosmetics and Toiletries
18.104.22.168 Fine Fragrances
22.214.171.124 Household Cleaners and Air Fresheners
5.4 SWOT Analysis
5.5 Porter’s Five Forces Analysis
5.5.2 Buyer’s Power
5.5.3 Supplier’s power
5.5.4 New Entrants
5.5.5 Degree of Rivalry
6 Competitive Landscape & Supplier Analysis
6.1 Givaudan SA
6.2 Firmenich SA
6.3 International Flavors & Fragrances, Inc.
6.4 Symrise AG
6.5 Wild Flavors, Inc.
6.6 Takasago International Corp
6.7 Mane SA
6.8 Sensient Technologies Corp.
6.9 Robertet Group
6.10 T. Hasegawa Co., Ltd.
6.11 Kerry Group
7 Events and Developments
Additional Customisation Available:
8 Manufacturing Process
8.1 Detailed Process Flow
8.2 Operations Involved
8.3 Mass Balance
9 Cost Analysis
9.1 Land, Location and Site Development
9.3 Plant Machinery
9.4 Cost of Raw Material
9.9 Other Capital Investment
10 Value Chain Analysis
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