Flavors & Fragrances Market by Ingredients, End use and Region - Global Forecast to 2022

  • ID: 4473692
  • Report
  • Region: Global
  • 124 Pages
  • Markets and Markets
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Flavors & Fragrances Market Expected to Grow from an Estimated USD 21.15 Billion in 2017 to USD 24.13 Billion by 2022, at a CAGR of 2.67%

FEATURED COMPANIES

  • Archer Daniels Midland
  • Firmenich
  • Givaudan
  • Kerry
  • Ogawa & Co., Ltd.
  • Sensient
  • MORE

"Flavors & Fragrances Market by Ingredients (Natural, Synthetic), End use (Beverage, Savory & Snacks, Bakery, Dairy Products, Confectionery, Consumer Products, Fine Fragrances) and Region (Asia Pacific, North America, Europe) - Global Forecast to 2022"

"The flavors & fragrances market is projected to grow at a CAGR of 2.67% during the forecast period"

The flavors & fragrances market is expected to grow from an estimated USD 21.15 billion in 2017 to USD 24.13 billion by 2022, at a CAGR of 2.67% between 2017 and 2022. The growth of the flavors & fragrances market can be attributed to growing population, rapid urbanization, and increase in per capita spending on consumer products in high-growth economies, such as China, India, South Korea, and Indonesia. In addition, increase in awareness among the population concerning health and wellness is expected to drive the demand for flavors & fragrances between 2017 and 2022. However, factors such as compliance with quality & regulatory standards is expected to restrain demand during the forecast period.

"Consumer product segment is expected to be the largest end-use segment of the fragrances market"

Fragrances are used in consumer products, such as home care products, personal hygiene, and beauty products. Consumer products is projected to be the largest end-use segment of the flavors & fragrances market between 2017 and 2022. Growing awareness among the population related to hygiene and cleanliness is expected to drive the demand for consumer products, which in turn is expected to drive the demand for fragrances.  

"The Middle East & Africa is projected to be the fastest-growing flavors & fragrances market during the forecast period"

The flavors & fragrances market in the Middle East & Africa is projected to grow at the highest CAGR between 2017 and 2022. Economic growth in countries, such as Saudi Arabia, Iran, and Turkey, escalating population and increase in disposable incomes are making Middle East & Africa an attractive market for flavors & fragrances manufacturers.

Breakdown of profiles of primary interviews for the report:

  • By Company Type - Tier 1 - 55%, Tier 2 - 27%, and Tier 3 - 18%
  • By Designation - C Level - 46%, Director Level - 27%, and Others - 27%
  • By Region - North America - 28%, Europe - 18%, APAC - 27%, Middle East & Africa - 9%, and South America - 18%

Some of the key companies profiled in this report are Givaudan (Switzerland), International Flavors & Fragrances (US), Firmenich (Switzerland), MANE (France), Symrise (Germany), Sensient (US.),Takasago (Japan), Frutarom (Israel), Robertet (France), and T.HASEGAWA (Japan).

Research Coverage

The flavors & fragrances market has been segmented on the basis of ingredients, end use, and region. On the basis of ingredients, the market has been segmented into natural and synthetic. Based on end use, the market has been segmented into beverage, savory & snacks, bakery, dairy products, confectionery, consumer products, and fine fragrances. The market has also been studied for Asia Pacific, Europe, North America, the Middle East & Africa, and South America.

Key Benefits of Buying the Report

This report covers the following studies:

  • Market segmentation based on ingredients, end use, and region
  • Market dynamics, including drivers, restraints, and opportunities
  • Porter’s Five Forces analysis with respect to the flavors & fragrances market
  • Profile of key players in the flavors & fragrances market.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Archer Daniels Midland
  • Firmenich
  • Givaudan
  • Kerry
  • Ogawa & Co., Ltd.
  • Sensient
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitation
    1.7 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Significant Opportunities in the Flavors & Fragrances Market (2017-2022)
    4.2 Flavors & Fragrances Market, By Region
    4.3 APAC Fragrances Market, By Key Country and End Use, 2016
    4.4 Flavors & Fragrances Market Attractiveness, 2017-2022
    4.5 Flavors Market, By End Use and Region, 2016

5 Market Overview
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand for Natural Flavors and Fragrances
                    5.2.1.2 Increasing Consumer Preference Toward Convenience Foods
                    5.2.1.3 Rising Demand for Consumer Products
           5.2.2 Restraints
                    5.2.2.1 Compliance With Quality and Regulatory Standards
           5.2.3 Opportunities
                    5.2.3.1 High Growth Potential From Emerging Economies

6 Flavors & Fragrances Market, By Ingredient
    6.1 Introduction
           6.1.1 Synthetic Ingredients
           6.1.2 Natural Ingredients

7 Flavors & Fragrances Market, By End Use
    7.1 Introduction
           7.1.1 Flavors
           7.1.2 Beverages
           7.1.3 Savory & Snacks
           7.1.4 Dairy Products
           7.1.5 Bakery
           7.1.6 Confectionery
           7.1.7 Others
           7.1.8 Fragrances
           7.1.9 Consumer Products
           7.1.10 Fine Fragrances

8 Flavors & Fragrances Market, By Region
    8.1 Introduction
           8.1.1 APAC to Drive the Flavors Market
           8.1.2 APAC to Drive the Fragrances Market
    8.2 APAC
           8.2.1 Introduction
           8.2.2 China
           8.2.3 Japan
           8.2.4 India
           8.2.5 South Korea
           8.2.6 Indonesia
           8.2.7 Thailand
           8.2.8 Australia
           8.2.9 Rest of APAC
    8.3 Europe
           8.3.1 Introduction
           8.3.2 Germany
           8.3.3 France
           8.3.4 UK
           8.3.5 Italy
           8.3.6 Spain
           8.3.7 Russia
           8.3.8 Rest of Europe
    8.4 North America
           8.4.1 Introduction
           8.4.2 US
           8.4.3 Canada
           8.4.4 Mexico
    8.5 South America
           8.5.1 Introduction
           8.5.2 Brazil
           8.5.3 Argentina
           8.5.4 Rest of South America
    8.6 Middle East & Africa
           8.6.1 Introduction
           8.6.2 Saudi Arabia
           8.6.3 Iran
           8.6.4 Turkey
           8.6.5 South Africa
           8.6.6 Rest of the Middle East & Africa

9 Competitive Landscape
    9.1 Overview
    9.2 Market Share Analysis of Key Players
           9.2.1 Givaudan
           9.2.2 Firmenich
           9.2.3 IFF
           9.2.4 Symrise
    9.3 Competitive Scenario
           9.3.1 Expansions
           9.3.2 Acquisitions
           9.3.3 New Product Launches

10 Company Profiles
(Business Overview, Recent Developments, SWOT Analysis, View)
     10.1 Givaudan
     10.2 Firmenich
     10.3 International Flavors & Fragrances
     10.4 Symrise
     10.5 Takasago
     10.6 Sensient
     10.7 Mane
     10.8 Robertet
     10.9 T.Hasegawa
     10.10 Frutarom
     10.11 Other Players
             10.11.1 Bell Flavors & Fragrances
             10.11.2 Archer Daniels Midland
             10.11.3 Kerry
             10.11.4 Ogawa & Co., Ltd.
             10.11.5 Huabao

*Details Might Not Be Captured in Case of Unlisted Companies.

List of Tables
Table 1 Flavors and Fragrances: Regulations Set By Different Countries
Table 2 Flavors & Fragrances Market Size, By Ingredient, 2015-2022 (USD Million)
Table 3 Synthetic Ingredient Market Size, 2015-2022 (USD Million)
Table 4 Natural Ingredient Market Size, 2015-2022 (USD Million)
Table 5 Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 6 Flavors Market Size for Beverages, By Region, 2015-2022 (USD Million)
Table 7 Flavors Market Size for Savory & Snacks, By Region, 2015-2022 (USD Million)
Table 8 Flavors Market Size for Dairy Products, By Region, 2015-2022 (USD Million)
Table 9 Flavors Market Size for Bakery, By Region, 2015-2022 (USD Million)
Table 10 Flavors Market Size for Confectionery, By Region, 2015-2022 (USD Million)
Table 11 Flavors Market Size for Other End Uses, By Region, 2015-2022 (USD Million)
Table 12 Fragrances Market Size for Consumer Products, By Region, 2015-2022 (USD Million)
Table 13 Fragrances Market Size for Fine Fragrances, By Region, 2015-2022 (USD Million)
Table 14 Flavors & Fragrances Market Size, By Region, 2015-2022 (USD Million)
Table 15 Flavors Market Size, By Region, 2015-2022 (USD Million)
Table 16 Fragrances Market Size, By Region, 2015-2022 (USD Million)
Table 17 APAC: Flavors Market Size, By Country, 2015-2022 (USD Million)
Table 18 APAC: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 19 APAC: Fragrances Market Size, By Country, 2015-2022 (USD Million)
Table 20 APAC: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 21 China: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 22 China: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 23 Japan: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 24 Japan: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 25 India: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 26 India: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 27 South Korea: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 28 South Korea: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 29 Indonesia: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 30 Indonesia: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 31 Thailand: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 32 Thailand: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 33 Australia: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 34 Australia: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 35 Rest of APAC: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 36 Rest of APAC: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 37 Europe: Flavors Market Size, By Country, 2015-2022 (USD Million)
Table 38 Europe: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 39 Europe: Fragrances Market Size, By Country, 2015-2022 (USD Million)
Table 40 Europe: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 41 Germany: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 42 Germany: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 43 France: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 44 France: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 45 UK: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 46 UK: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 47 Italy: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 48 Italy: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 49 Spain: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 50 Spain: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 51 Russia: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 52 Russia: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 53 Rest of Europe: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 54 Rest of Europe: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 55 North America: Flavors Market Size, By Country, 2015-2022 (USD Million)
Table 56 North America: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 57 North America: Fragrances Market Size, By Country, 2015-2022 (USD Million)
Table 58 North America: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 59 US: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 60 US: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 61 Canada: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 62 Canada: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 63 Mexico: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 64 Mexico: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 65 South America: Flavors Market Size, By Country, 2015-2022 (USD Million)
Table 66 South America: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 67 South America: Fragrances Market Size, By Country, 2015-2022 (USD Million)
Table 68 South America: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 69 Brazil: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 70 Brazil: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 71 Argentina: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 72 Argentina: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 73 Rest of South America: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 74 Rest of South America: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 75 Middle East & Africa: Flavors Market Size, By Country, 2015-2022 (USD Million)
Table 76 Middle East & Africa: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 77 Middle East & Africa: Fragrances Market Size, By Country, 2015-2022 (USD Million)
Table 78 Middle East & Africa: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 79 Saudi Arabia: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 80 Saudi Arabia: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 81 Iran: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 82 Iran: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 83 Turkey: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 84 Turkey: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 85 South Africa: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 86 South Africa: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 87 Rest of the Middle East & Africa: Flavors Market Size, By End Use, 2015-2022 (USD Million)
Table 88 Rest of the Middle East & Africa: Fragrances Market Size, By End Use, 2015-2022 (USD Million)
Table 89 Expansions, 2015-2017
Table 90 Acquisitions, 2015-2017
Table 91 New Product Launches, 2015-2017

List of Figures
Figure 1 Flavors & Fragrances: Market Segmentation
Figure 2 Flavors & Fragrances Market: Research Design
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Flavors & Fragrances Market: Data Triangulation
Figure 6 Flavors & Fragrances Market to Be Driven By the Synthetic Ingredient Segment
Figure 7 Beverages to Dominate the Flavors Market Between 2017 and 2022
Figure 8 Consumer Goods to Dominate the Fragrances Market Between 2017 and 2022
Figure 9 APAC Was the Largest Flavors & Fragrances Market in 2016
Figure 10 Rising Demand From APAC to Have Long-Term Impact on the Flavors & Fragrances Market
Figure 11 APAC to Be the Key Market for Flavors & Fragrances During 2017-2022
Figure 12 Consumer Products Accounted for Larger Market Share in 2016
Figure 13 Middle East & Africa to Be the Fastest-Growing Flavors & Fragrances Market
Figure 14 Beverages Accounted for the Largest Share of the Flavors Market in North America in 2016
Figure 15 Overview of the Factors Governing the Flavors & Fragrances Market
Figure 16 Synthetic Ingredients to Lead the Market During the Forecast Period
Figure 17 Beverages to Dominate the Flavors Market During the Forecast Period
Figure 18 APAC to Be the Largest Flavors Market for Beverages Between 2017 and 2022
Figure 19 Middle East & Africa to Be the Fastest-Growing Flavors Market for Savory & Snacks Between 2017 and 2022
Figure 20 Europe to Remain the Largest Flavors Market for Dairy Products
Figure 21 APAC to Be the Largest Flavors Market for Bakery Between 2017 and 2022
Figure 22 APAC to Be the Largest Flavors Market for Confectionery Between 2017 and 2022
Figure 23 Middle East & Africa to Be the Fastest-Growing Flavors Market for Other End Uses Between 2017 and 2022
Figure 24 Consumer Products to Dominate the Fragrances Market During the Forecast Period
Figure 25 APAC to Be the Largest Fragrances Market for Consumer Products Between 2017 and 2022
Figure 26 APAC to Be the Largest Flavors Market for Fine Fragrances Between 2017 and 2022
Figure 27 India, Saudi Arabia, and South Africa to Witness High Growth During the Forecast Period
Figure 28 APAC Market Snapshot: China to Be the Largest Flavors & Fragrances Market, 2017-2022
Figure 29 North America: Flavors & Fragrances Market Snapshot
Figure 30 South America: Flavors & Fragrances Market Snapshot
Figure 31 Saudi Arabia to Be the Largest Flavors & Fragrances Market During 2017-2022
Figure 32 Companies Adopted Expansion as the Key Growth Strategy, 2015-2017
Figure 33 Market Share Analysis of Key Players
Figure 34 Givaudan: Company Snapshot
Figure 35 International Flavors and Fragrances: Company Snapshot
Figure 36 Symrise: Company Snapshot
Figure 37 Takasago: Company Snapshot
Figure 38 Sensient: Company Snapshot
Figure 39 Mane: Company Snapshot
Figure 40 Robertet: Company Snapshot
Figure 41 T. Hasegawa: Company Snapshot
Figure 42 Frutarom: Company Snapshot

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Archer Daniels Midland
  • Firmenich
  • Givaudan
  • Kerry
  • Ogawa & Co., Ltd.
  • Sensient
  • MORE

The flavors & fragrances market is expected to grow from an estimated USD 21.15 Billion in 2017 to USD 24.13 Billion by 2022, at a CAGR of 2.67% between 2017 and 2022. Growing population, rapid urbanization, and increase in per capita spending on food and consumer products in emerging economies such as China, India, and Indonesia are driving the demand for flavors & fragrances. In addition, growing awareness among populations related to health and hygiene is expected to drive the flavors & fragrances market during the forecast period.

On the basis of ingredients, the flavors & fragrances market has been segmented into synthetic and natural. The synthetic ingredients segment is projected to lead the flavors & fragrances market during the forecast period due to the low cost and growing usage in end-use products such as beverages, packaged food products, home care products, and personal care products.

Based on end use, the flavors market has been segmented into beverage, savory & snacks, bakery, dairy products, and confectionery, among others. Beverages is estimated to be the largest end-use segment of the flavors market during the forecast period. The demand for flavors for beverages is mainly due to the growing demand for soft drinks, energy drinks, and other drinks. In addition, aspirational purchase of global drink brands is also driving the demand for flavors for beverages. Based on end use, the fragrances market is segmented into consumer products and fine fragrances. Consumer products is estimated to be the largest end-use segment of the fragrances market during the forecast period. The high demand for consumer products is mainly due to the rise in disposable incomes; growing urbanization; the rise of organized retail chains; changing lifestyles; and increasing awareness related to hygiene and cleanliness created by advertisements, which is adding to the overall growth of the consumer products segment.

The flavors & fragrances market has been studied for Asia Pacific, Europe, North America, the Middle East & Africa, and South America. Asia Pacific is the largest flavors & fragrances market globally, due to the rising population, rapid urbanization, and increasing per capita incomes of consumers which enable them to buy various fast-moving consumer goods, such as packaged foods, dairy products, baked goods, and beverages, among others. Moreover, the increasing demand for a variety of food products and other consumer goods due to the rapidly growing food & beverage and cosmetic industries is fueling the growth of the flavors & fragrances market in the region.

Flavors & Fragrances Market

One of the key factors restraining the growth of the flavors & fragrances market is the stringent regulations for flavors & fragrances by different government entities, such as European Food Safety Authority, Flavor & Extracts Manufacturers Association (FEMA), US Food and Drug Administration (FDA), and China Food, Drug Administration (CFDA), and International Fragrance Association (IFRA). Companies are focusing on strengthening their positions in the flavors & fragrances market through expansions, acquisitions, and new product launches. Major players active in the market include Givaudan (Switzerland), International Flavors & Fragrances Inc. (US), Firmenich (Switzerland), MANE (France), Symrise (Germany), Sensient (US), Takasago (Japan), Frutarom (Israel), Robertet (France), and T.HASEGAWA (Japan).

Note: Product cover images may vary from those shown
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  • Archer Daniels Midland
  • Bell Flavors & Fragrances
  • Firmenich
  • Frutarom
  • Givaudan
  • Huabao
  • International Flavors & Fragrances
  • Kerry
  • Mane
  • Ogawa & Co., Ltd.
  • Robertet
  • Sensient
  • Symrise
  • T.Hasegawa
  • Takasago
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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