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Flavors and Fragrances market share research by
applications and regions for 2017-2024: Global Market
The global Flavors and Fragrances Market share report provides numbers for
applications and regional segments of the industry covering historical as well as
forecast data for decision makers.
Flavors and Fragrances Market size is expected to acknowledge a remarkable growth
over the forecast period owing to increasing demand in various industries such as food
& beverages, natural cosmetic products comprising of essential oil and aroma and
toiletries. Changing customer taste and preferences, growing customer awareness in
purchasing products containing natural elements and rising purchasing power are key
driver for the market growth.
Rising use of biotic ingredients and business expansion will foster the product market.
Increasing demand for personal care products in emerging economies with substantial
rise in disposable income and population will augment the flavors and fragrances
market. Growing demand for junk food, confectionery food and beverages will have
positive impact on this market. Also, rapid emerging supermarkets and retails stores
will support the market growth over the forecasted period.
Growing food and beverages items among consumers has raised the consumption of
flavors and fragrances market as they are necessary part of foods. Synthetic and
natural flavors used in ice-creams, toothpaste, cakes, juice and colas. Additionally,
fragrances are used to add fresh smell in those items as well as in perfumes and
Flavors and fragrances are made up of esters, acids, alcohol, ketones, aldehydes and
lactones. On the basis of its ingredient types, market is segmented into essential oils
and aroma chemicals. Rising awareness regarding beauty and aesthetics, hygiene
and personal appearance are fostering the market growth.
Based on the end use application flavors and fragrances market is classified into
cosmetics, detergents, soaps, perfumes, toiletries, air fresheners and household
cleaners. Further, they can be subcategorized into dairy, confectionery, beverages
and bakery industry. New innovations in food products and confectioneries is
propelling the market. Increase in population and their upsurge in cravings to try new
food products further augments the market. Additional, increasing research &
development expenditure on emerging fragrance compounds is predictable to support
the demand for aroma chemicals in next years.
North America, dominated by the U.S. holds the largest market share in 2016 due to
expansion of customer awareness about cosmetic products and rising demand for
snacks and convenience food. Rising demand of anti-ageing creams and beauty
products has flourished the product market in the region. Several companies are now
focusing on Hispanic groups due to high significant use of cosmetic products.
Europe, led by UK and Germany will experience moderate growth owing to
concentration of cosmetics industries. Influence of health consciousness and demand
of natural ingredient food items over synthetic ingredient foods is driving the product
market in the region. Changing lifestyle and change in food patterns in this region will
also play a vital role in booming of flavors and fragrances market over the forecasted
Asia-Pacific will be the fastest growing rigid transparent plastic market owing to
growing population and improving per capita income. Consumption of cosmetics,
toiletries and food packages will foster the market growth. Rapid industrialization will
generate enormous market opportunities for manufacturers to invest in the region,
boosting the flavours and fragrances market. Retail stores, convenience food and new
product innovation is expected key drivers of market growth.
Global flavors and fragrances market share is competitive with key players including
Symrise, Takasago, MANE, Robertet group, Firmenich SA and Givaudan SA. Several
other key vendors operating in the same field are BASF SE, royal DSM NV, Bedoukian
Research, Aromtech SAS, Cargill Inc., ConAgra Foods, Kao corporation, Frutaroam
industries, Kerry group plc and Solvay SA.
Increasing mergers and acquisitions strategy, IFF Company acquired David Michael
Company in 2016. This acquisition would help IFF to expand its market growth also, it
will expand the product line of the company generating more revenues for the
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