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Global Flavours and Fragrances Market Size, Share, Forecast: By Product Type: Nature-Identical, Artificial, Natural; By Form: Liquid, Dry; By Application: Beverages, Dairy and Frozen Desserts, Savouries and Snacks, Bakery and Confectionery Products, Others; By Ingredients; By Application; Regional Analysis; Competitive Landscape; 2024-2032
Global Flavours and Fragrances Market Outlook
The global flavours and fragrances market is expected to attain nearly USD 27.9 billion in 2023. It is projected to grow further in the coming years, growing at CAGR of 4.6% in the forecast period of 2024-2032. By 2032, the industry is estimated to reach USD 36.5 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 flavours 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 flavours 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 market. 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.
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Based on product type, the market is divided into:
- Nature-Identical
- Artificial
- Natural
On the basis of form, the flavours are bifurcated into liquid and dry.
On the basis of application, the flavours market can be segmented into:
- Beverages
- Dairy and Frozen Desserts
- Savouries and Snacks
- Bakery and Confectionery Products
- Others
Fragrances are majorly comprised of synthetic and natural ingredients. They find their applications in soap and detergents, cosmetics and toiletries, fine fragrances, and household cleaners and fresheners, among others.
The EMR report gives an overview of the regional flavours and fragrances markets like North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Market Analysis
The global flavours and fragrances market 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 flavours and fragrances market 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.
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Competitive Landscape
The report gives a detailed analysis of the following key players in the global flavours and fragrances market, covering their market share, capacity, and latest developments like plant turnarounds, mergers and acquisitions, and capacity expansions:
- Givaudan
- Firmenich SA
- International Flavors & Fragrances, Inc.
- Symrise Group
- Takasago International Corporation
- Mane Group
- Sensient Technologies Corporation
- ADM
- Others
The EMR report gives a comprehensive assessment of the flavours and fragrances market based on Porter’s Five Forces model, along with 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- Product Type, Form, Application, Ingredients, Region |
| Flavours Market Breakup by Product Type | Nature-Identical, Artificial, Natural |
| Flavours Market Breakup by Form | Liquid, Dry |
| Flavours Market Breakup by Application | Beverages, Dairy and Frozen Desserts, Savouries and Snacks, Bakery and Confectionery Products, Others |
| Fragrances Market Breakup by Ingredients | Synthetic, Natural |
| Fragrances Market Breakup by Application | Soap and Detergents, Cosmetics and Toiletries, Fine Fragrances, Households Cleaners and Fresheners, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| 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, Firmenich SA, International Flavours & Fragrances Inc., Symrise Group, Takasago International Corporation, Mane Group, Sensient Technologies Corporation, ADM, 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 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Flavours Market Analysis
8.1 Key Industry Highlights
8.2 Global Flavours Historical Market (2018-2023)
8.3 Global Flavours Market Forecast (2024-2032)
8.4 Global Flavours Market by Product Type
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 Global 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 Global Flavours Market by Application
8.6.1 Beverages
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 Dairy and Frozen Desserts
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 Savouries and Snacks
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 Bakery and Confectionery Products
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 Global Flavours Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
8.8 Regional Analysis
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.1.3 Breakup by Country
8.8.1.3.1 United States of America
8.8.1.3.2 Canada
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.2.3 Breakup by Country
8.8.2.3.1 United Kingdom
8.8.2.3.2 Germany
8.8.2.3.3 France
8.8.2.3.4 Italy
8.8.2.3.5 Others
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.3.3 Breakup by Country
8.8.3.3.1 China
8.8.3.3.2 Japan
8.8.3.3.3 India
8.8.3.3.4 ASEAN
8.8.3.3.5 Australia
8.8.3.3.6 Others
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.4.3 Breakup by Country
8.8.4.3.1 Brazil
8.8.4.3.2 Argentina
8.8.4.3.3 Mexico
8.8.4.3.4 Others
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
8.8.5.3 Breakup by Country
8.8.5.3.1 Saudi Arabia
8.8.5.3.2 United Arab Emirates
8.8.5.3.3 Nigeria
8.8.5.3.4 South Africa
8.8.5.3.5 Others
9 Global Fragrances Market Analysis
9.1 Key Industry Highlights
9.2 Global Fragrances Historical Market (2018-2023)
9.3 Global Fragrances Market Forecast (2024-2032)
9.4 Global 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 Global Fragrances Market by Application
9.5.1 Soap and Detergents
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 Cosmetics and Toiletries
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 Fine Fragrances
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 Households Cleaners and Fresheners
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 Others
9.6 Global Fragrances Market by Region
9.6.1 Market Share
9.6.1.1 North America
9.6.1.2 Europe
9.6.1.3 Asia Pacific
9.6.1.4 Latin America
9.6.1.5 Middle East and Africa
9.7 Regional Analysis
9.7.1 North America
9.7.1.1 Historical Trend (2018-2023)
9.7.1.2 Forecast Trend (2024-2032)
9.7.1.3 Breakup by Country
9.7.1.3.1 United States of America
9.7.1.3.2 Canada
9.7.2 Europe
9.7.2.1 Historical Trend (2018-2023)
9.7.2.2 Forecast Trend (2024-2032)
9.7.2.3 Breakup by Country
9.7.2.3.1 United Kingdom
9.7.2.3.2 Germany
9.7.2.3.3 France
9.7.2.3.4 Italy
9.7.2.3.5 Others
9.7.3 Asia Pacific
9.7.3.1 Historical Trend (2018-2023)
9.7.3.2 Forecast Trend (2024-2032)
9.7.3.3 Breakup by Country
9.7.3.3.1 China
9.7.3.3.2 Japan
9.7.3.3.3 India
9.7.3.3.4 ASEAN
9.7.3.3.5 Australia
9.7.3.3.6 Others
9.7.4 Latin America
9.7.4.1 Historical Trend (2018-2023)
9.7.4.2 Forecast Trend (2024-2032)
9.7.4.3 Breakup by Country
9.7.4.3.1 Brazil
9.7.4.3.2 Argentina
9.7.4.3.3 Mexico
9.7.4.3.4 Others
9.7.5 Middle East and Africa
9.7.5.1 Historical Trend (2018-2023)
9.7.5.2 Forecast Trend (2024-2032)
9.7.5.3 Breakup by Country
9.7.5.3.1 Saudi Arabia
9.7.5.3.2 United Arab Emirates
9.7.5.3.3 Nigeria
9.7.5.3.4 South Africa
9.7.5.3.5 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 Buyers 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 Competitive Landscape
12.1 Market Structure
12.2 Key Players’ Market Share
12.3 Company Profiles
12.3.1 Givaudan
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.1.3 Demographic Reach and Achievements
12.3.1.4 Certifications
12.3.2 Firmenich SA
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Demographic Reach and Achievements
12.3.2.4 Certifications
12.3.3 International Flavours & Fragrances Inc.
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.3.3 Demographic Reach and Achievements
12.3.3.4 Certifications
12.3.4 Symrise Group
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.4.3 Demographic Reach and Achievements
12.3.4.4 Certifications
12.3.5 Takasago International Corporation
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
12.3.5.3 Demographic Reach and Achievements
12.3.5.4 Certifications
12.3.6 Mane Group
12.3.6.1 Company Overview
12.3.6.2 Product Portfolio
12.3.6.3 Demographic Reach and Achievements
12.3.6.4 Certifications
12.3.7 Sensient Technologies Corporation
12.3.7.1 Company Overview
12.3.7.2 Product Portfolio
12.3.7.3 Demographic Reach and Achievements
12.3.7.4 Certifications
12.3.8 ADM
12.3.8.1 Company Overview
12.3.8.2 Product Portfolio
12.3.8.3 Demographic Reach and Achievements
12.3.8.4 Certifications
12.3.9 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Flavours Market: Key Industry Highlights, 2018 and 2032
2. Global Flavours Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Flavours Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Flavours Historical Market: Breakup by Form (USD Billion), 2018-2023
5. Global Flavours Market Forecast: Breakup by Form (USD Billion), 2024-2032
6. Global Flavours Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Flavours Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Flavours Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Flavours Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Flavours Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Flavours Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Flavours Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Flavours Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Flavours Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Flavours Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Flavours Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Flavours Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Flavours Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Flavours Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Fragrances Market: Key Industry Highlights, 2015 and 2025
21. Global Fragrances Historical Market: Breakup by Ingredients (USD Billion), 2018-2023
22. Global Fragrances Market Forecast: Breakup by Ingredients (USD Billion), 2024-2032
23. Global Fragrances Historical Market: Breakup by Application (USD Billion), 2018-2023
24. Global Fragrances Market Forecast: Breakup by Application (USD Billion), 2024-2032
25. Global Fragrances Historical Market: Breakup by Region (USD Billion), 2018-2023
26. Global Fragrances Market Forecast: Breakup by Region (USD Billion), 2024-2032
27. North America Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2023
28. North America Fragrances Market Forecast: Breakup by Country (USD Billion), 2024-2032
29. Europe Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2023
30. Europe Fragrances Market Forecast: Breakup by Country (USD Billion), 2024-2032
31. Asia Pacific Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2023
32. Asia Pacific Fragrances Market Forecast: Breakup by Country (USD Billion), 2024-2032
33. Latin America Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2023
34. Latin America Fragrances Market Forecast: Breakup by Country (USD Billion), 2024-2032
35. Middle East and Africa Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2023
36. Middle East and Africa Fragrances Market Forecast: Breakup by Country (USD Billion), 2024-2032
37. Global Flavours and Fragrances Market Structure
Key Questions Answered in the Report
In 2023, the global flavours and fragrances market attained a value of nearly USD 27.9 billion.
The market is projected to grow at a CAGR of 4.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 36.5 billion by 2032.
The major drivers for the market include rising disposable incomes, increasing population, changing food preferences, and rising demand from the end-use sectors, like food and decoration sector.
The rapid innovations in the market act as a key trend aiding the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Europe accounting for the largest share in the market.
Flavours are available in liquid and dry forms.
Flavours find wide applications in beverages, dairy and frozen desserts, savouries and snacks, bakery and confectionery products, among others. Fragrances find wide applications in soap and detergents, cosmetics and toiletries, fine fragrances, household cleaners and fresheners, among others.
The ingredients used in fragrances include synthetic and natural.
The major players in the market are Givaudan, Firmenich SA, International Flavors & Fragrances, Inc., Symrise Group, Takasago International Corporation, Mane Group, Sensient Technologies Corporation, and ADM, among others.
Analyst Review
The global flavours and fragrances market attained a value of USD 27.9 billion in 2023, driven by the changing food preferences, especially of younger population. Aided by the shift towards low-calorie foods and beverages, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4.6%. The flavours and fragrances market is projected to reach USD 36.5 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the flavours industry can be segmented into nature-identical, artificial, and natural. On the basis of forms, the flavours industry is bifurcated into liquid and dry. On the basis of applications, flavours are categorised into beverages, dairy and frozen desserts, savouries and snacks, bakery and confectionery products, and others. Based on ingredients, the fragrances industry is bifurcated into synthetic and natural. On the basis of applications, the industry is divided into soap and detergents, cosmetics and toiletries, fine fragrances, and household cleaners and fresheners, among others. The major regional markets for flavours and fragrances are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Europe accounting for the largest share of the market. The key players in the above market include Givaudan, Firmenich SA, International Flavors & Fragrances, Inc., Symrise Group, Takasago International Corporation, Mane Group, Sensient Technologies Corporation, ADM, and 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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