LONDON--(BUSINESS WIRE)--The global flavors and fragrances market size is expected to grow by USD 10.98 billion during 2020-2024, progressing at a CAGR of almost 6% during the forecast period.
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The increasing investments by vendors is one of the major factors propelling market growth. However, factors such as threat of counterfeit products will hamper market growth.
Vendors are focused on increasing their production capabilities and expanding their distribution networks to attract more consumers. The already established players are also making investments to gain access to untapped markets, which will potentially offer them greater chances to grow. For instance, Parag Milk Foods in India expanded its production capabilities and its business operation in the north and north-east India. Also, with many vendors opting for mergers and acquisitions to increase their global presence, the flavors and fragrances market’s growth is likely to surge. These factors will boost the market growth.
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Global Flavors and Fragrances Market: Functionality Landscape
The fragrances segment is expected to grow during the forecast period, owing to the rising demand from end-users such as manufacturers of fine fragrances, cosmetics and toiletries, soaps and detergents, household cleaners, and air fresheners. Also, the growing awareness about hygiene and an increase in per capita income are driving the demand for household cleaners and air fresheners globally. The strong presence of key vendors is likely to drive the demand for fragrances during the forecast period. Therefore, the flavors and fragrances market share growth by the fragrances segment will be the faster that the flavors segment during the forecast period.
Global Flavors and Fragrances Market: Geographic Landscape
APAC was the largest flavors and fragrances market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the presence of a huge consumer base, rising working women population, growing demand for international cuisines, and penetration of key vendors will significantly drive flavors and fragrances market growth in this region over the forecast period. 41% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for flavors and fragrances in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Companies Covered
- DuPont de Nemours Inc.
- Firmenich SA
- Givaudan SA
- Kerry Group Plc
- McCormick & Company Inc.
- Sensient Technologies Corp.
- Solvay SA
- Symrise AG
- Takasago International Corp.
-
The MANE Group
What our reports offer:
- Market share assessments for the regional and country-level segments
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- Covers market data for 2019, 2020, till 2024
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- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
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Flavors And Fragrances Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in flavors and fragrances market growth during the next five years
- Estimation of the flavors and fragrances market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the flavors and fragrances market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of flavors and fragrances market, vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Functionality
- Market segments
- Comparison by Functionality
- Fragrances - Market size and forecast 2019-2024
- Flavors - Market size and forecast 2019-2024
- Market opportunity by Functionality
Market Segmentation by Ingredients
- Market segments
- Comparison by Ingredients
- Formulated flavors and fragrances - Market size and forecast 2019-2024
- Aroma chemicals - Market size and forecast 2019-2024
- Essential oils - Market size and forecast 2019-2024
- Market opportunity by Ingredients
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Industry risks
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- DuPont de Nemours Inc.
- Firmenich SA
- Givaudan SA
- Kerry Group Plc
- McCormick & Company Inc.
- Sensient Technologies Corp.
- Solvay SA
- Symrise AG
- Takasago International Corp.
- The MANE Group
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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