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Global Flavor & Fragrance Market Report - 2011 Edition
Koncept Analytics, Dec 2011, Pages: 40
Flavors and fragrances from natural resources have attracted human imagination and enriched the life and sensuality of man since the beginning of civilization. With the growth of science through the ages and industrialization in the past century, the use of flavors and fragrances increased immensely in foods, beverages, cosmetics, medicines, and home and personal care products, among others. After suffering a decline in 2009, primarily due to global economic crisis, the global market of flavor and fragrances recorded growth in 2010 in the wake of economic recovery. The market is forecasted to continue to expand at a CAGR of 5.6% during 2011-2013.
The regions accounting for the majority revenue generation in the market include Western Europe and North America. At the same time, the emerging countries of Asia, which include China and India, are increasingly becoming the important growth regions of the flavor and fragrance industry
Flavors and fragrances being used in a variety of consumer products, the economic growth anywhere naturally propels the use of flavor and fragrance and its market. With better education and scientific research people are consciously consuming more flavors and fragrances in products for pleasure, health, and other usages, thus driving the growth of flavor and fragrance market. One conspicuous feature associated with flavor and fragrance industry is the growth in marketing of fine ingredients which are used as raw material in making flavoring and fragrance compounds. Their use in functional foods for health benefits has also increased.
Smaller companies are consolidating with the aim to acquire higher technical capabilities. Also, the chemical companies are diversifying into flavor and fragrance sector, thus creating good opportunities for the growth of the sector.
The market faces the challenge of barrier to the entry of small players into global arena and new players into small and mid-sized segment of flavor and fragrance industry. Uncertainties regarding the availability and about price predictions of natural raw materials due to precarious and delicate ecological conditions, natural calamities also remain a challenge.
The flavor and fragrance industry is highly fragmented with several large, small, and regional players operating in the market. The top four companies, which include Givaudan, IFF, Firmenich, and Symrise, account for the majority revenue generation in the market.
KEY FEATURES
The report provides an in-depth analysis of the global flavor and fragrances market. The various drivers and the challenges faced by the market are discussed in detail. The competitive aspect of the market is also highlighted and the key players are profiled with their strategies for this market.
By combining SPSS Inc.'s data integration and analysis capabilities with relevant findings, the future growth of the industry has been predicted. Various significant variables that have an impact on this industry and created regression models with SPSS Base have been used to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Also available
Global Flavor & Fragrance Market Report - 2010 Edition
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