The market size of flavors & fragrances is estimated to be USD 29.0 billion in 2021 and is projected to reach USD 37.3 billion by 2026, at a CAGR of 5.1% between 2021 and 2026. The growth of the flavors & fragrances market is primarily supported by the growing population in emerging economies such as China, India, Indonesia, South Korea, Brazil, and South Africa. The demand for flavors and fragrances is also due to the increase in awareness among the population about the benefits of the ingredients used in food products and consumer products in countries such as the US, Japan, France, Canada, Germany, and the UK. The demand for flavors and fragrances is also attributed to changing consumer preferences toward convenience food and increasing demand for consumer products. Stringent government regulations on the use of synthetic flavors and fragrances in Japan, China, the US, and European countries are restricting the growth of the flavors & fragrances market.
“The Synthetic is the largest ingredient of flavors & fragrances for flavors & fragrances market in 2020”
Synthetic ingredient is artificially made through chemical reactions. It is chemically modified and has different properties from its precursors. Synthetic flavors are prepared from a complex mixture of chemical compounds. The dominance of synthetic ingredient is owed to its low cost and growing use in various end uses, such as beverages, packaged food products, and home & personal care products. Unique formulation by manufacturing companies, innovation in flavoring ingredients, and significant demand of synthetic flavors in various edible & non-edible applications are driving the market for synthetic ingredient during the forecast period.
“Beverages and consumer products are estimated to be the largest end-use industry in flavors & fragrances market, respectively between 2021 and 2026.”
Bakery segment is expected to grow due to a rise in demand for aspirational purchase of global drink brands and increasing demand for dietary drinks owing to the rising percentage of health-conscious individuals. Consumer products segment is estimated to grow due to the rise of organized retail chains; changing lifestyles; and the growing demand for various consumer products such as home care and personal care products
“APAC is expected to be the largest flavors & fragrances market during the forecast period, in terms of value.”
APAC was the largest flavors & fragrances market in 2020. The changing lifestyle and high economic growth of emerging economies such as China, India, Vietnam, and Indonesia have fueled the demand for flavors and fragrances in this region. In addition, the rapidly growing food & beverage and cosmetic & homecare industries are fueling the growth of the flavors & fragrances market in the region.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
- By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
- By Designation: C-Level - 46%, Director Level - 25%, and Others - 29%
- By Region: North America - 27%, Europe - 27%, APAC - 33%, South America - 7%, and Middle East & Africa - 6%,
The key market players profiled in the report include Givaudan (Switzerland), Firmenich SA (Switzerland), International Flavors & Fragrances (IFF) (US), Symrise AG (Germany), Takasago (Japan), The Archer Daniels Midland Company (ADM) (US), Sensient Technologies (US), Mane SA (France), Robertet (France), T. Hasegawa (Japan), and Bell Flavors & Fragrances (US).
Research Coverage
This report segments the market for flavors & fragrances on the basis of ingredient, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for flavors & fragrances.
Reasons to buy this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the flavors & fragrances market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on flavors & fragrances offered by top players in the global flavors & fragrances market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the flavors & fragrances market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for flavors & fragrances across regions
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global flavors & fragrances market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the flavors & fragrances market
- Impact of COVID-19 on flavors & fragrances market
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Flavors & Fragrances Market: Inclusions & Exclusions
1.2.2 Flavors & Fragrances: Market Definition and Inclusions, by Ingredient
1.2.3 Flavors & Fragrances: Market Definition and Inclusions, by End-Use Industry
1.3 Market Scope
1.3.1 Regions Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
1.6 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 1 Flavors & Fragrances Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Primary Interviews - Demand and Supply Sides
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
Figure 2 Market Size Estimation Methodology: Approach 1 (Supply-Side): Revenue of Products
Figure 3 Market Size Estimation Methodology: Approach 2, Bottom-Up (Supply-Side): Collective Revenue of All Products
Figure 4 Market Size Estimation Methodology: Approach 3 - Bottom-Up (Demand-Side): Products Sold
2.2.2 Top-Down Approach
Figure 5 Market Size Estimation Methodology: Approach 4 - Top-Down
2.3 Data Triangulation
Figure 6 Flavors & Fragrances Market: Data Triangulation
2.4 Growth Rate Assumptions/Growth Forecast
2.4.1 Supply-Side
Figure 7 Market CAGR Projections from the Supply-Side
2.4.2 Demand-Side
Figure 8 Market Growth Projections from Demand-Side Drivers and Opportunities
2.5 Factor Analysis
2.6 Assumptions
2.7 Limitations
2.8 Risk Assessment
Table 1 Flavors & Fragrances Market: Risk Assessment
3 Executive Summary
Figure 9 Synthetic Ingredient Segment to Dominate Flavors & Fragrances Market During the Forecast Period
Figure 10 Beverages Segment to Dominate the Flavors Market in 2020
Figure 11 Consumer Products Segment to Dominate the Fragrances Market
Figure 12 APAC Was Largest Flavors & Fragrances Market in 2020
4 Premium Insights
4.1 Attractive Opportunities in the Flavors & Fragrances Market
Figure 13 Flavors & Fragrances Market to Register Moderate Growth During the Forecast Period
4.2 APAC: Fragrances Market, by End-Use and Country
Figure 14 China Led the APAC Fragrances Market in 2020
4.3 Flavors & Fragrances Market, by Region
Figure 15 APAC to be Fastest-Growing Market Between 2021 and 2026
4.4 Flavors Market, Region Vs End-Use Industry
Figure 16 Beverages Accounted for Largest Share in Most of the Regions in 2020
4.5 Flavors Market Attractiveness
Figure 17 India to be Fastest-Growing Market Between 2021 and 2026
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
Figure 18 Drivers, Restraints, Opportunities, and Challenges in the Flavors & Fragrances Market
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
Table 2 Frozen Food Market Size, by Region, 2020-2025 (USD Billion)
5.2.1.3 Rising Demand for Natural Products
5.2.1.4 Rising Demand for Consumer Products
5.2.2 Restraints
5.2.2.1 Compliance with Quality and Regulatory Standards
Table 3 Flavors and Fragrances: Regulations Set by Different Countries
5.2.3 Opportunities
5.2.3.1 Digitalization of the Retail Industry
Figure 19 Online Purchases of Goods & Services in the European Union (2018)
5.2.3.2 Innovation in End-Use Industries to Drive the Flavors & Fragrances Market
5.2.4 Challenges
5.2.4.1 Limited Progression in Value Chain Among Developing Economies
5.2.4.2 Lack of Cold Chain Infrastructure in Developing Economies
5.3 Porter's Five Forces Analysis
Figure 20 Porter's Five Forces Analysis of Flavors & Fragrances Market
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
Table 4 Flavors & Fragrances Market: Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
5.4.1 Gdp Trends and Forecast of Major Economies
Table 5 Gdp Trends and Forecast, by Major Economy, 2018-2026 (USD Billion)
5.5 COVID-19 Impact
5.5.1 Introduction
5.5.2 COVID-19 Health Assessment
Figure 21 Country-Wise Spread of COVID-19
5.5.3 COVID-19 Economic Assessment
Figure 22 Revised Gdp Forecasts for Select G20 Countries in 2021
5.5.3.1 COVID-19 Impact on the Economy - Scenario Assessment
Figure 23 Factors Impacting the Global Economy
Figure 24 Scenarios of COVID-19 Impact
5.6 Impact of COVID-19: Customer Analysis
5.7 Supply Chain Analysis
Figure 25 Flavors & Fragrances Market: Supply Chain
5.7.1 Raw Material
5.7.2 Ingredient Manufacturing
5.7.3 Distribution
5.7.4 End-Use Industries
5.8 Flavors & Fragrance Market: Realistic, Pessimistic, Optimistic, and Non-COVID-19 Scenarios
Figure 26 Market Size Under Realistic, Pessimistic, Optimistic, and Non-COVID-19 Scenarios
Table 6 Flavors & Fragrance Market Forecast Scenario, 2019-2026 (USD Million)
5.8.1 Non-COVID-19 Scenario
5.8.2 Optimistic Scenario
5.8.3 Pessimistic Scenario
5.8.4 Realistic Scenario
5.9 Trends/Disruptions Impacting Customer's Business
5.9.1 Revenue Shifts & Revenue Pockets for Flavors & Fragrance Market
Figure 27 Revenue Shift for Flavors & Fragrance Market
5.10 Connected Markets: Ecosystem
Figure 28 Flavors & Fragrances Market: Ecosystem
Table 7 Flavors & Fragrances Market: Supply Chain
5.11 Technology Analysis
5.12 Case Study Analysis
5.12.1 a Case Study on Sleepscore Labs and International Flavors & Fragrances Inc.
5.12.2 a Case Study on Givaudan and Mediafly
5.13 Trade Analysis
5.13.1 Import Scenario of Flavors & Fragrances
Figure 29 Flavors & Fragrances Imports, by Key Country, 2012-2020
Table 8 Imports of Flavors & Fragrances, by Region, 2012-2020 (USD Million)
5.13.2 Export Scenario of Flavors & Fragrances
Figure 30 Flavors & Fragrances Exports, by Key Country, 2012- 2020
Table 9 Exports of Flavors & Fragrances, by Region, 2012-2020 (USD Million)
5.14 Tariff and Regulatory Landscape
5.15 Patent Analysis
5.15.1 Approach
5.15.2 Document Type
Table 10 Granted Patents Accounted for 4% of the Total Count in Last 11 Years
Figure 31 Patents Registered for Flavors & Fragrances, 2010-2020
Figure 32 Patents Publication Trends for Flavors & Fragrances, 2010-2020
5.15.3 Jurisdiction Analysis
Figure 33 Maximum Patents Filed by Companies in China
5.15.4 Top Applicants
Figure 34 Hubei China Tobacco Industry Co. Ltd. Registered Maximum Number of Patents Between 2010 and 2020
Table 11 Top 10 Patent Owners (Us) in Last 11 Years
6 Flavors & Fragrances Market, by Ingredient
6.1 Introduction
Figure 35 Natural Ingredients Expected to be Faster-Growing Segment During the Forecast Period
Table 12 Flavors & Fragrances Market Size, by Ingredient, 2016-2019 (USD Million)
Table 13 Flavors & Fragrances Market Size, by Ingredient, 2020-2026 (USD Million)
6.2 Synthetic Ingredient
6.2.1 Trend in Replication of Natural Flavors into Synthetic Ingredients to Drive the Market
Table 14 Synthetic Ingredient Market Size, by Type, 2016-2019 (USD Million)
Table 15 Synthetic Ingredient Market Size, by Type, 2020-2026 (USD Million)
6.3 Natural Ingredient
6.3.1 Increasing Health Awareness Among Consumers to Drive the Market
Table 16 Natural Ingredient Market Size, by Type, 2016-2019 (USD Million)
Table 17 Natural Ingredient Market Size, by Type, 2020-2026 (USD Million)
7 Flavors & Fragrances Market, by End-Use Industry
7.1 Introduction
7.2 Flavors
Figure 36 Beverages Segment to Lead Flavors Market During the Forecast Period
Table 18 Flavors Market, by End-Use Industry, 2016-2019 (USD Million)
Table 19 Flavors Market, by End-Use Industry, 2020-2026 (USD Million)
7.2.1 Beverages
7.2.1.1 Changing Lifestyle and Curiosity to Try Differently Flavored Beverages are Driving the Market
Table 20 Flavors Market Size in Beverages, by Region, 2016-2019 (USD Million)
Table 21 Flavors Market Size in Beverages, by Region, 2020-2026 (USD Million)
7.2.2 Savory & Snacks
7.2.2.1 Demand for Plant-Based Products and Growing Preference for Less Salt, Fat, and Sugar to Drive the Market
Table 22 Flavors Market Size in Savory & Snacks, by Region, 2016-2019 (USD Million)
Table 23 Flavors Market Size in Savory & Snacks, by Region, 2020-2026 (USD Million)
7.2.3 Dairy Products
7.2.3.1 Demand for Health & Wellness and Emotional Need for Dairy Products to Drive the Market
Table 24 Flavors Market Size in Dairy Products, by Region, 2016-2019 (USD Million)
Table 25 Flavors Market Size in Dairy Products, by Region, 2020-2026 (USD Million)
7.2.4 Bakery
7.2.4.1 APAC is Largest Market for Flavors in the Bakery Segment
Table 26 Flavors Market Size in Bakery, by Region, 2016-2019 (USD Million)
Table 27 Flavors Market Size in Bakery, by Region, 2020-2026 (USD Million)
7.2.5 Confectionery
7.2.5.1 Continuous Innovation and Fast-Changing Consumer Demand to Drive the Market
Table 28 Flavors Market Size in Confectionery, by Region, 2016-2019 (USD Million)
Table 29 Flavors Market Size in Confectionery, by Region, 2020-2026 (USD Million)
7.2.6 Others
7.2.6.1 Changing Consumer Preferences and Growing Demand for New Flavors to Drive the Market
Table 30 Flavors Market Size in Other End-Use Industries, by Region, 2016-2019 (USD Million)
Table 31 Flavors Market Size in Other End-Use Industries, by Region, 2020-2026 (USD Million)
7.3 Fragrances
Figure 37 Consumer Products Segment to Dominate Fragrances Market During the Forecast Period
Table 32 Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 33 Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
7.3.1 Consumer Products
7.3.1.1 In-Depth Research on Consumer Products and Changing Preferences to Drive the Market
Table 34 Fragrances Market Size in Consumer Products, by Region, 2016-2019 (USD Million)
Table 35 Fragrances Market Size in Consumer Products, by Region, 2020-2026 (USD Million)
7.3.2 Fine Fragrances
7.3.2.1 Increasing Connection of Perfumers to Diverse Local Cultures and Trends Can Drive the Market
Table 36 Fragrances Market Size in Fine Fragrances, by Region, 2016-2019 (USD Million)
Table 37 Fragrances Market Size in Fine Fragrances, by Region, 2020-2026 (USD Million)
8 Flavors & Fragrances Market, by Region
8.1 Introduction
Figure 38 APAC Expected to Register Highest CAGR Between 2021 and 2026
Table 38 Flavors & Fragrances Market Size, by Type, 2016-2019 (USD Million)
Table 39 Flavors & Fragrances Market Size, by Type, 2020-2026 (USD Million)
Table 40 Flavors & Fragrances Market Size, by Region, 2016-2019 (USD Million)
Table 41 Flavors & Fragrances Market Size, by Region, 2020-2026 (USD Million)
Table 42 Flavors Market Size, by Region, 2016-2019 (USD Million)
Table 43 Flavors Market Size, by Region, 2020-2026 (USD Million)
Table 44 Fragrances Market Size, by Region, 2016-2019 (USD Million)
Table 45 Fragrances Market Size, by Region, 2020-2026 (USD Million)
8.2 APAC
Figure 39 APAC Market Snapshot: China Accounted for Largest Share in 2020
8.2.1 APAC Flavors & Fragrance Market, by End-Use Industry
Table 46 APAC: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 47 APAC: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 48 APAC: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 49 APAC: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2 APAC Flavors & Fragrance Market, by Country
Table 50 APAC: Flavors Market Size, by Country, 2016-2019 (USD Million)
Table 51 APAC: Flavors Market Size, by Country, 2020-2026 (USD Million)
Table 52 APAC: Fragrances Market Size, by Country, 2016-2019 (USD Million)
Table 53 APAC: Fragrances Market Size, by Country, 2020-2026 (USD Million)
8.2.2.1 China
8.2.2.1.1 Growing Industrial Activities and Change in Consumer's Lifestyle to Drive the Market
Table 54 China: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 55 China: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 56 China: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 57 China: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.2 Japan
8.2.2.2.1 Growing Investment in Manufacturing Sector to Drive the Flavors & Fragrance Market
Table 58 Japan: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 59 Japan: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 60 Japan: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 61 Japan: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.3 India
8.2.2.3.1 Growing Fdi Investments in Manufacturing Industry to Support Market Growth
Table 62 India: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 63 India: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 64 India: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 65 India: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.4 South Korea
8.2.2.4.1 Increased Exports to EU to Drive the Flavors and Fragrance Market
Table 66 South Korea: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 67 South Korea: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 68 South Korea: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 69 South Korea: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.5 Indonesia
8.2.2.5.1 Strong Rebound of Economy and Anticipated Change in Food Consumption Patterns to Drive the Market
Table 70 Indonesia: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 71 Indonesia: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 72 Indonesia: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 73 Indonesia: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.6 Thailand
8.2.2.6.1 Increased Exports of Processed Foods to Drive the Market
Table 74 Thailand: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 75 Thailand: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 76 Thailand: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 77 Thailand: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.7 Australia
8.2.2.7.1 Demand for Energy Drinks Among White-Collar Workers to Drive the Market
Table 78 Australia: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 79 Australia: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 80 Australia: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 81 Australia: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.8 Vietnam
8.2.2.8.1 Beverages Segment is Largest and Fastest-Growing User of Flavors
Table 82 Vietnam: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 83 Vietnam: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 84 Vietnam: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 85 Vietnam: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.9 Philippines
8.2.2.9.1 Demand for Western Food Products from Youth Population to Drive the Market
Table 86 Philippines: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 87 Philippines: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 88 Philippines: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 89 Philippines: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.10 Bangladesh
8.2.2.10.1 Signs of Recovery in Economy and Exports to Drive the Market
Table 90 Bangladesh: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 91 Bangladesh: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 92 Bangladesh: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 93 Bangladesh: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.2.2.11 Pakistan
8.2.2.11.1 Rising Middle-Class Population and Preference for Higher Quality and Safer Food to Drive the Market
Table 94 Pakistan: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 95 Pakistan: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 96 Pakistan: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 97 Pakistan: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.3 Europe
Figure 40 Europe Flavors & Fragrance Market Snapshot: Germany Accounted for Largest Market Share in 2020
8.3.1 Europe Flavors & Fragrances Market, by End-Use Industry
Table 98 Europe: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 99 Europe: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 100 Europe: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 101 Europe: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.3.2 Europe Flavors & Fragrances Market, by Country
Table 102 Europe: Flavors Market Size, by Country, 2016-2019 (USD Million)
Table 103 Europe: Flavors Market Size, by Country, 2020-2026 (USD Million)
Table 104 Europe: Fragrances Market Size, by Country, 2016-2019 (USD Million)
Table 105 Europe: Fragrances Market Size, by Country, 2020-2026 (USD Million)
8.3.2.1 Germany
8.3.2.1.1 Strong Economic Recovery Post-COVID-19 Pandemic to Support Market Growth
Table 106 Germany: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 107 Germany: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 108 Germany: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 109 Germany: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.3.2.2 France
8.3.2.2.1 Increase in Production Concentration and Exports to Support the Market
Table 110 France: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 111 France: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 112 France: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 113 France: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.3.2.3 UK
8.3.2.3.1 Adoption of Healthier Lifestyle and Increase in Usage of Natural Flavors & Fragrances to Drive the Market
Table 114 UK: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 115 UK: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 116 UK: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 117 UK: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.3.2.4 Italy
8.3.2.4.1 Marketing Initiatives Taken by the Government to Support the Flavors and Fragrance Market
Table 118 Italy: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 119 Italy: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 120 Italy: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 121 Italy: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.3.2.5 Spain
8.3.2.5.1 Demand for Healthy and Natural Ingredients-Based Ready-To-Eat Food to Drive the Market
Table 122 Spain: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 123 Spain: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 124 Spain: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 125 Spain: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.3.2.6 Russia
8.3.2.6.1 New Export Routes to Southeast Asian Countries to Support the Market Growth
Table 126 Russia: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 127 Russia: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 128 Russia: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 129 Russia: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.4 North America
Figure 41 North America Flavors & Fragrances Market Snapshot: Us Expected to Dominate the Market
8.4.1 North America Flavors & Fragrance Market, by End-Use Industry
Table 130 North America: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 131 North America: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 132 North America: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 133 North America: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.4.2 North America Flavors & Fragrances Market, by Country
Table 134 North America: Flavors Market Size, by Country, 2016-2019 (USD Million)
Table 135 North America: Flavors Market Size, by Country, 2020-2026 (USD Million)
Table 136 North America: Fragrances Market Size, by Country, 2016-2019 (USD Million)
Table 137 North America: Fragrances Market Size, by Country, 2020-2026 (USD Million)
8.4.2.1 US
8.4.2.1.1 Savory & Snacks Segment is Fastest-Growing End-User of Flavors
Table 138 US: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 139 US: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 140 US: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 141 US: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.4.2.2 Canada
8.4.2.2.1 Increasing Health Awareness and Demand for Natural-Based Flavors and Fragrances to Drive the Market
Table 142 Canada: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 143 Canada: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 144 Canada: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 145 Canada: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.4.2.3 Mexico
8.4.2.3.1 Rapid Urbanization and Increase in Population of Working Women to Support the Market
Table 146 Mexico: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 147 Mexico: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 148 Mexico: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 149 Mexico: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.5 South America
8.5.1 South America Flavors & Fragrances Market, by End-Use Industry
Table 150 South America: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 151 South America: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 152 South America: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 153 South America: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.5.2 South America Flavors & Fragrances Market, by Country
Table 154 South America: Flavors Market Size, by Country, 2016-2019 (USD Million)
Table 155 South America: Flavors Market Size, by Country, 2020-2026 (USD Million)
Table 156 South America: Fragrances Market Size, by Country, 2016-2019 (USD Million)
Table 157 South America: Fragrances Market Size, by Country, 2020-2026 (USD Million)
8.5.2.1 Brazil
8.5.2.1.1 Rising Demand for Dairy Products and Premium Fragrances to Drive the Market
Table 158 Brazil: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 159 Brazil: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 160 Brazil: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 161 Brazil: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.5.2.2 Argentina
8.5.2.2.1 Turmoil in Manufacturing Sector to Have a Negative Impact on the Market
Table 162 Argentina: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 163 Argentina: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 164 Argentina: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 165 Argentina: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.6 Middle East & Africa
8.6.1 Middle East & Africa Flavors & Fragrance Market, by End-Industry
Table 166 Middle East & Africa: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 167 Middle East & Africa: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 168 Middle East & Africa: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 169 Middle East & Africa: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.6.2 Middle East & Africa Flavors & Fragrance Market, by Country
Table 170 Middle East & Africa: Flavors Market Size, by Country, 2016-2019 (USD Million)
Table 171 Middle East & Africa: Flavors Market Size, by Country, 2020-2026 (USD Million)
Table 172 Middle East & Africa: Fragrances Market Size, by Country, 2016-2019 (USD Million)
Table 173 Middle East & Africa: Fragrances Market Size, by Country, 2020-2026 (USD Million)
8.6.2.1 Saudi Arabia
8.6.2.1.1 Higher Penetration of Premium Consumer Products Supports the Market Growth
Table 174 Saudi Arabia: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 175 Saudi Arabia: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 176 Saudi Arabia: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 177 Saudi Arabia: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.6.2.2 Iran
8.6.2.2.1 Growing Urban Middle-Class Population, Changing Lifestyle to Make Significant Impact on the Market
Table 178 Iran: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 179 Iran: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 180 Iran: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 181 Iran: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.6.2.3 Turkey
8.6.2.3.1 Rise in Disposable Income to Support Growth of Flavors & Fragrance Industry
Table 182 Turkey: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 183 Turkey: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 184 Turkey: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 185 Turkey: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
8.6.2.4 South Africa
8.6.2.4.1 Beverages Segment is Largest Consumer of Flavors in South Africa
Table 186 South Africa: Flavors Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 187 South Africa: Flavors Market Size, by End-Use Industry, 2020-2026 (USD Million)
Table 188 South Africa: Fragrances Market Size, by End-Use Industry, 2016-2019 (USD Million)
Table 189 South Africa: Fragrances Market Size, by End-Use Industry, 2020-2026 (USD Million)
9 Competitive Landscape
9.1 Introduction
9.2 Strategies Adopted by Key Players
9.2.1 Overview of Strategies Adopted by Flavors & Fragrances Manufacturers
9.3 Market Share Analysis
9.3.1 Ranking of Key Market Players, 2020
Figure 42 Ranking of Top Four Players in the Flavors & Fragrances Market, 2020
9.3.2 Market Share of Key Players
Table 190 Flavors & Fragrances Market: Degree of Competition
Figure 43 Givaudan is Leading Player in the Flavors & Fragrances Market
9.3.3 Givaudan
9.3.4 International Flavors & Fragrances (Iff)
9.3.5 Firmenich
9.3.6 Symrise Ag
9.4 Revenue Analysis
Figure 44 Revenue Analysis for Key Companies in Past 5 Years
9.5 Company Product Footprint Analysis
Figure 45 Flavors & Fragrances Market: Company Footprint
Table 191 Flavors & Fragrances Market: Ingredient Footprint
Table 192 Flavors & Fragrances Market: End-Use Industry Footprint
Table 193 Flavors & Fragrances Market: Company Region Footprint
9.6 Company Evaluation Quadrant
9.6.1 Stars
9.6.2 Emerging Leaders
Figure 46 Company Evaluation Quadrant for Flavors & Fragrances Market (Tier 1)
9.7 Start-Up/Smes Evaluation Quadrant
9.7.1 Responsive Companies
9.7.2 Dynamic Companies
9.7.3 Starting Blocks
Figure 47 Startup/Smes Evaluation Quadrant for Flavors & Fragrances Market
9.8 Competitive Situation and Trends
9.8.1 Product Launches
Table 194 Flavors & Fragrances Market: Product Launches, 2018- 2021
9.8.2 Deals
Table 195 Flavors & Fragrances Market: Deals, 2018-2021
9.8.3 Other Developments
Table 196 Flavors & Fragrances Market: Expansions, Investments, and Innovations, 2016- 2021
10 Company Profiles
10.1 Major Players
(Business Overview, Products Offered, Recent Developments, New Product Launch, Deals, Other Developments, Analyst's View, Key Strengths/Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats)*
10.1.1 Givaudan
Figure 48 Givaudan: Company Snapshot
Table 197 Givaudan: Business Overview
10.1.2 Firmenich
Table 198 Firmenich: Business Overview
10.1.3 International Flavors & Fragrances Inc.
Figure 49 International Flavors & Fragrances Inc.: Company Snapshot
Table 199 International Flavors & Fragrances Inc.: Business Overview
10.1.4 Symrise Ag
Figure 50 Symrise Ag: Company Snapshot
Table 200 Symrise Ag: Business Overview
10.1.5 Takasago
Figure 51 Takasago: Company Snapshot
Table 201 Takasago: Business Overview
10.1.6 Archer Daniels Midland Company
Figure 52 Archer Daniels Midland Company (Adm): Company Snapshot
Table 202 Archer Daniels Midland Company (Adm): Business Overview
10.1.7 Sensient Technologies
Figure 53 Sensient Technologies: Company Snapshot
Table 203 Sensient Technologies: Business Overview
10.1.8 Mane Sa
Figure 54 Mane Sa: Company Snapshot
Table 204 Mane Sa: Business Overview
10.1.9 Robertet
Figure 55 Robertet: Company Snapshot
Table 205 Robertet: Business Overview
10.1.10 T. Hasegawa Co. Ltd.
Figure 56 T. Hasegawa Co. Ltd.: Company Snapshot
Table 206 T. Hasegawa Co. Ltd.: Business Overview
10.1.11 Bell Flavors & Fragrances
Table 207 Bell Flavors & Fragrances: Business Overview
10.2 Startup/Sme Players
10.2.1 Kerry
Table 208 Kerry: Company Overview
10.2.2 Ogawa & Co. Ltd.
Table 209 Ogawa & Co. Ltd.: Company Overview
10.2.3 Huabao
Table 210 Huabao: Company Overview
10.2.4 Biolandes Sas
Table 211 Biolandes Sas: Company Overview
10.2.5 Flavex Naturextrakte GmbH
Table 212 Flavex Naturextrakte GmbH: Company Overview
10.2.6 Synthite Industries Limited
Table 213 Synthite Industries Limited: Company Overview
10.2.7 Ungerer & Company
Table 214 Ungerer & Company: Company Overview
10.2.8 Akay Natural Ingredients Private Limited
Table 215 Akay Natural Ingredients Private Limited: Company Overview
10.2.9 Solvay Sa
Table 216 Solvay Sa: Company Overview
10.2.10 Ozone Naturals
Table 217 Ozone Naturals: Company Overview
10.2.11 Basf Se
Table 218 Basf Se: Company Overview
10.2.12 Royal Dsm Nv
Table 219 Royal Dsm Nv: Company Overview
10.2.13 Aromtech Sas
Table 220 Aromtech Sas: Company Overview
10.2.14 Bedoukian Research, Inc.
Table 221 Bedoukian Research, Inc.: Company Overview
*Details on Business Overview, Products Offered, Recent Developments, New Product Launch, Deals, Other Developments, Analyst's View, Key Strengths/Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats Might Not be Captured in Case of Unlisted Companies.
11 Adjacent & Related Markets
11.1 Introduction
11.2 Limitation
11.3 Aroma Ingredients Market
11.3.1 Market Definition
11.3.2 Market Overview
11.4 Aroma Ingredients Market, by Region
Table 222 Aroma Ingredients Market Size, by Region, 2016-2023 (USD Million)
11.4.1 Europe
Table 223 Europe: Aroma Ingredients Market Size, by Country, 2016-2023 (USD Million)
Table 224 Europe: Aroma Ingredients Market Size, by Type, 2016-2023 (USD Million)
Table 225 Europe: Aroma Ingredients Market Size, by Application, 2016-2023 (USD Million)
11.4.2 APAC
Table 226 APAC: Aroma Ingredients Market Size, by Country, 2016-2023 (USD Million)
Table 227 APAC: Aroma Ingredients Market Size, by Type, 2016-2023 (USD Million)
Table 228 APAC: Aroma Ingredients Market Size, by Application, 2016-2023 (USD Million)
11.4.3 North America
Table 229 North America: Aroma Ingredients Market Size, by Country, 2016-2023 (USD Million)
Table 230 North America: Aroma Ingredients Market Size, by Type, 2016-2023 (USD Million)
Table 231 North America: Aroma Ingredients Market Size, by Application, 2016-2023 (USD Million)
11.4.4 Middle East & Africa
Table 232 Middle East & Africa: Aroma Ingredients Market Size, by Country, 2016-2023 (USD Million)
Table 233 Middle East & Africa: Aroma Ingredients Market Size, by Type, 2016-2023 (USD Million)
Table 234 Middle East & Africa: Aroma Ingredients Market Size, by Application, 2016-2023 (USD Million)
11.4.5 South America
Table 235 South America: Aroma Ingredients Market Size, by Country, 2016-2023 (USD Million)
Table 236 South America: Aroma Ingredients Market Size, by Type, 2016-2023 (USD Million)
Table 237 South America: Aroma Ingredients Market Size, by Application, 2016-2023 (USD Million)
12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store
12.3 Available Customization
Executive Summary
Companies Mentioned
- Akay Natural Ingredients Private Limited
- Archer Daniels Midland Company
- Aromtech Sas
- Basf Se
- Bedoukian Research, Inc.
- Bell Flavors & Fragrances
- Biolandes Sas
- Firmenich
- Flavex Naturextrakte GmbH
- Givaudan
- Huabao
- International Flavors & Fragrances Inc.
- Kerry
- Mane Sa
- Ogawa & Co. Ltd.
- Ozone Naturals
- Robertet
- Royal Dsm Nv
- Sensient Technologies
- Solvay Sa
- Startup/Sme Players
- Symrise Ag
- Synthite Industries Limited
- T. Hasegawa Co. Ltd.
- Takasago
- Ungerer & Company
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| Published | October 2021 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value ( USD | $ 29 Billion |
| Forecasted Market Value ( USD | $ 37.3 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
