DUBLIN--(BUSINESS WIRE)--The "Flavors and Fragrance Market by Type, Nature and Application: Global Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The global flavors and fragrance market size was valued at $28,193.1 million in 2019, and is projected to reach $35,914.3 billion by 2027, registering a CAGR of 4.7% from 2021 to 2027.
Flavors and fragrance ingredients are natural and synthetic substances, which when added to products give them the desired smell. Fragrances are used extensively in products such as detergents, cosmetics, soaps, toiletries and others. Ingredients for fragrances are generally extracted from natural or petroleum raw materials and are used widely in personal care and other consumer goods. Moreover, the food & beverage industry requires flavors for different purposes such as new product development, add new product line, and change the taste of existing product. High demand for new flavors from the food & beverages industry and continuous innovation drive the growth of the flavors and fragrance market. In addition, increase in requirement from the fast food industry is expected to provide growth opportunities in the flavors and fragrance market during the forecast period.
Rise in concern among consumers about the long-term health effects of artificial ingredients and additives in food products has increased the demand for natural and healthy ingredients in food products, which majorly drives the growth of the flavors and fragrance market. Apart from this, food flavor manufacturers have been adopting new technologies to produce better varieties of natural and artificial flavors to increase their stability and suitability. For instance, producing fruit flavors is a complicated task as the original taste and flavor is reduced during the extraction process, which makes it difficult to retain the original flavor. Therefore, to retain its flavor, manufacturers are inventing and adopting advanced technologies such as solid-liquid extraction (SLE), supercritical carbon dioxide extraction, supercritical fluid extraction, and others.
The flavors and fragrance industry has been segmented on the basis of type, nature, application, and region. On the basis of type, the market is divided into flavors and fragrance. By nature, it is divided into natural and synthetic. On the basis of application, it is categorized into food & beverages, cosmetics & personal care, home care and fabric care. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the flavors and fragrance market analysis from 2019 to 2027 to identify the prevailing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and flavors and fragrance market opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the flavors and fragrance market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the flavors and fragrance market players.
- The report includes analysis of regional as well as global flavors and fragrance market trends, key players, market segments, application areas, and growth strategies.
- Increase in the demand for cosmetics products
- Use of flavors in pharmaceuticals industry
- Growth in dairy alternate industry
- Fluctuations in the Flavors and Fragrances Market
- Allergies associated with artificial flavors and preservatives
- Rising demand for natural flavors and fragrance
- Growing demand for smoked flavors
- COVID-19 impact on Flavors and Fragrances Market
- Firmenich SA
- Frutarom Industries Ltd.
- Givaudan International SA
- Huabao International Holdings Limited
- Kerry Group, PLC
- Robertet SA
- S H Kelkar and Company Limited
- Sensient Technologies Corporation
- Symrise AG
- International Flavors & Fragrances, Inc
For more information about this report visit https://www.researchandmarkets.com/r/gifuea