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A Global Overview of the Flavours and Fragrances Market - Full Report

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    Report

  • 783 Pages
  • September 2022
  • Region: Global
  • IAL
  • ID: 5658621

This new market report brings together the most up-to-date information available on the Global Flavours and Fragrances Industry, building on previous editions and with intelligence on market values and competitor market shares. 

Aspects of the market covered in this study: 

  • Consumption of flavours and fragrances by end use application in each global region and country by value (US$), 2021-2026
  • Principal trends and factors affecting the market
  • Profiles of key suppliers
  • Overview of suppliers and global market shares
  • Top-level analysis of market volumes and prices
  • Analysis of natural vs. synthetic
  • The report covers the following end-use sectors: 

Flavours:

Beverages, Confectionery, Bakery, Snacks, Savoury/Convenience, Meat, Dairy, Oral/Pharmaceutical, Other (including animal feeds, tobacco etc.)

Fragrances:

Fine Fragrances, Cosmetics & Toiletries, Soap &Detergents, Household Cleaners & Air Fresheners, Other (including candles, aromatherapy, insecticides etc.)

The geographical scope is as follows:

VOL 1: EUROPE, MIDDLE EAST & AFRICA

Western Europe:

  • Austria, Belgium, Denmark, Finland, France, Germany,Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK

Central & Eastern Europe:

  • Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine

Africa/Middle East:

  • Algeria, Angola, Cameroon, Egypt, Ghana, Iran, Israel, Kenya, Kuwait, Lebanon, Morocco, Mozambique, Nigeria, Saudi Arabia, South Africa, Tanzania, Tunisia, UAE, Uganda, Zimbabwe

VOL 2: THE AMERICAS

Central & North America:

  • USA, Canada, Mexico

South America:

  • Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela

VOL 3: ASIA PACIFIC

  • Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Myanmar, New Zealand, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, Vietnam

A further breakdown is provided for each end-use category, by country, in 2021, for both flavours and fragrances.

FLAVOURS

  • Bakery - Baked Goods, Cereals, Others
  • Beverages - Alcoholic, Carbonated, Specialty Soft, Hot, Juices & Nectars, Powdered
  • Confectionery - Chewing Gum, Chocolate, Sugar Confectionery
  • Dairy - Cheese/Cream Cheese, Ice Cream, Milk/Dairy Drinks, Others, Yoghurt, Dairy Alternatives
  • Meat/Fish - Canned/Preserved, Chilled Processed, Frozen, Meat Alternatives
  • Oral/Pharma - Oral Care, Pharma
  • Others - Animal Feed, Infant, Pet Food, Tobacco
  • Savoury - Fats/Oils, Noodles, Ready Meals, Sauces/Dressings/Condiments, Soups
  • Snacks - Crisps, Other Snacks

FRAGRANCES

  • Cosmetics & Toiletries - Body Care, Cosmetics, Hair Care, Hygiene, Shaving Products
  • Fine Fragrances - Men’s, Women’s, Unisex
  • Household - Air Fresheners, Bathroom, Dishwashing, Floor, Kitchen, Window Cleaning
  • Other - Aromatherapy, Insecticides, Others, Scented Candles
  • Soap & Detergents - Fabric Detergents, Fabric Softeners, Washing Powders, Washing Soaps 

Table of Contents


VOLUME 1 - EUROPE, MIDDLE EAST & AFRICA1. Introduction
2. Market Summary EMEA
  • Including trends, market volumes and prices, and natural vs. synthetic
3. Suppliers
  • Overview of supply structure and market shares
4. Market Review Western Europe5. Market Review Central & Eastern Europe
6. Market Review Middle East & Africa Each region contains the following:
  • Regional Summary Tables for 2021 and 2026
  • Market for Flavours by Country & End Use, 2021 & 2026
  • Detailed Breakdown of the Flavours Market, 2021
  • Market for Fragrances by Country & End Use, 2021 & 2026
  • Detailed Breakdown of the Fragrances Market, 2021
  • Market Trends & Influences
A. Appendix - Profiles of Key SuppliersVOLUME 2 - THE AMERICAS1. Introduction
2. Market Summary Americas
  • Including trends, market volumes and prices, and natural vs. synthetic
3. Suppliers
  • Overview of supply structure and market shares
4. Market Review Central & North America
5. Market Review South America
  • Each region contains the following:
  • Regional Summary Tables for 2021 and 2026
  • Market for Flavours by Country & End Use, 2021 & 2026
  • Detailed Breakdown of the Flavours Market, 2021
  • Market for Fragrances by Country & End Use, 2021 & 2026
  • Detailed Breakdown of the Fragrances Market, 2021
  • Market Trends & Influences
A. Appendix - Profiles of Key SuppliersVOLUME 3 - ASIA-PACIFIC1. Introduction
2. Market Review Asia Pacific
  • Regional Summary Tables for 2021 and 2026
  • Market for Flavours by Country & End Use, 2021 & 2026
  • Detailed Breakdown of the Flavours Market, 2021
  • Market for Fragrances by Country & End Use, 2021 & 2026
  • Detailed Breakdown of the Fragrances Market, 2021
  • Market Trends & Influences
  • Market Volumes and Prices, and Natural vs. Synthetic
3. Suppliers
  • Overview of Supply Structure and Market Shares
A. Appendix - Profiles of Key SuppliersVOLUME 4 - GLOBAL SUMMARY1. Introduction
2. Global Market Summary
  • Regional Summary Tables for 2021 and 2026
  • Market Trends & Influences
3. Suppliers
  • Overview of Supply Structure and Market Shares

Executive Summary

This study updates and expands upon the information included in our previous study published in 2020. The information contained within this report is based upon an extensive programme of interviews throughout the industry. The report contains market value data by end-use application, with 2021 as the base year and market forecasts provided to 2026.

The research was undertaken during Q1 and Q2 2022, taking into account as much as possible the impacts of the conflict between Russia and Ukraine. Another trend is the high rate of inflation currently seen across much of the world. It is not yet clear what impact this will have for 2022 as a whole, how much of the price increase will be passed to customers, or whether volumes will decline as a result.

Several categories have been expanded or re-worked for this edition:

  • In Beverages: Alcoholic, Carbonated Soft, Hot, Juices & Nectars, Powdered, Specialty Soft
  • In Meat: Meat Alternatives
  • In Dairy: Dairy Alternatives
  • In Fine Fragrances: Unisex Fragrances

The global flavours and fragrances market has experienced some ups and downs in the past two years. The total global market reached US$33.8 billion in 2021, an increase of 4.6% compared to 2020; this was considerably higher than the growth of 1.6% achieved in 2020, when the COVID-19 pandemic impacted consumer spending. The fine fragrance category was the worst affected by the pandemic, as there were curbs on travel, retail and socialising.

The fastest growing country markets in 2021 were Bangladesh, India, Indonesia and Vietnam. These countries offer favourable conditions for flavour and fragrance market growth, including a growing middle class, rising incomes, and increasing urbanisation. Venezuela was the only country to see a decline in flavour and fragrance consumption in 2021, but growth was also slow in many mature markets.

For 2022, the analyst is forecasting a growth rate of 4.4% for the global flavours and fragrances market. Flavours are expected to fare slightly better, at 4.5% growth, compared to fragrances at 4.2%.

Of the total world market, flavours account for approximately 57% and fragrances for the remaining 43%.

Total Global Consumption of Flavours & Fragrances by Region, 2021-2026 (US$ Millions)

An average growth rate of 4.4% per annum is expected for the flavours and fragrances market over the next five years. While the West European and North American markets are quite mature, there is still potential for growth as consumers develop more sophisticated tastes and preferences, and as natural flavours and fragrances take greater market share from their synthetic counterparts. There is still plenty of opportunity for growth in the CEE, MEA and Asia Pacific regions, particularly in parts of Africa and Asia where access to processed foods and consumer goods is still growing. The fastest growth rates in the medium term are expected in Asia-Pacific, with a forecast CAGR of 6%.  

The beverages sector was the largest global end-use market for flavours in 2021 with a share of 33%, followed by dairy and savoury/convenience foods.

The soap and detergents industry is the largest user of fragrances in the global market at 32% share, followed by the cosmetics and toiletries sector at 30%.

Givaudan, IFF, Firmenich and Symrise continue to occupy the top four positions in the global flavours and fragrances market. Their combined sales of compound flavours and fragrances in 2021 represented around 55% of the global market; this is higher than previous years due to acquisitions and mergers. The opportunity to supply packages of products to their customers has become ever more attractive for the flavour and fragrance houses, reflected in various sideways and backwards integration moves in recent years. This is exemplified by the merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business and the pending merger between Firmenich and DSM. 

For only the second time, the analyst has also analysed flavour tonalities. The most significant tonality at the global level is citrus, accounting for 20% of demand, followed by vanilla at 14%. After vanilla come a host of tonalities with similar market shares, including brown, meat/seafood, mint, and other fruit. 

 

 

 

 

 

 

 

Companies Mentioned

A selection of companies mentioned in this report includes:

  • DSM
  • DuPont
  • Firmenich
  • Givauda
  • IFF
  • Symrise

Methodology

Information provided in these reports are based on existing in-house data and an extensive programme of interviews with leading product manufacturers, trade associations, distributors and raw materials producers involved with the specific market researched. These interviews are conducted within the 3-6 months leading up to the publication of the study, with the duration of the research programme and the number of interviews completed depending on the scope of the study. The analyst publishes both regional and global reports, and in most cases, the interviews are conducted in the native language of the individual respondents.

In addition, published data and statistics are also reviewed in order to produce as accurate figures as possible for size of markets studied. Market forecasts are based upon industry and economic forecasts as well as upon other relevant commercial and technical issues likely to affect individual market sectors and products, as well as the interviews conducted for the study.

 

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