Global Flavour and Fragrance Market
Flavour and fragrance can be defined as the ingredients that are included in the food & beverages, toiletries and other cosmetic substances for the enhancement of their smell, taste, and aesthetic appeal resulting in enhanced quality of products. These products have been known to be used in a number of personal and home care products resulting in masking and reduction in smell and effects of chemicals.
Key Market Competitors:
Few of the major competitors currently working in the flavour and fragrance market are Givaudan, Firmenich SA, International Flavors & Fragrances Inc., Symrise, Takasago International Corporation, Sensient Technologies Corporation, MANE, Robertet, T.HASEGAWA CO. LTD., Bell Flavors & Fragrances, Archer Daniels Midland Company, Kerry Inc., Ogawa & Co. Ltd., Huabao International Holdings Limited, AROMATECH, and Bedoukian Research Inc.
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Global Flavour and Fragrance Market is expected to rise from its initial estimated value of USD 21.62 billion in 2018 to an estimated value of USD 26.86 billion by 2026, registering a CAGR of 2.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising disposable income and preference to consume better quality food & beverages.
Global flavour and fragrance market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of flavour and fragrance market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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- To gain insightful analyses of the market and have comprehensive understanding of the Global Flavour and Fragrance Market and its commercial landscape.
- Assess the Global Flavour and Fragrance Market production processes, major issues, and solutions to mitigate the development risk.
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- To understand the future outlook and prospects for Global Flavour and Fragrance Market.
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Key Developments in the Market:
In October 2018, International Flavors & Fragrances Inc. announced the completion of the acquisition of Frutarom. With this acquisition a global leader of flavours and fragrances is established with an enhanced product portfolio capable of global marketing capabilities.
In June 2017, Firmenich SA announced that they are in talks to acquire Agilex Fragrances. With this acquisition Firmenich SA is expected to establish dominance in the region of North America with improved product offerings and quicker supply chain for the same.
Market Drivers & Restraints:
- Rise in demand of natural flavour and fragrances is expected to drive the market growth
- Rising disposable income has resulted in better quality food products and fragrances is also expected to drive the market growth
- Need for adhering to regulations and quality standardizations by the authorities; this factor is expected to restrain the market growth
- Fluctuation in prices and vulnerability related to prices of raw materials used in the production of products is also expected to restrain the market growth
- By Ingredient
- By End Use
- Savoury & Snacks
- Dairy Products
- Consumer Products
- Fine Fragrances
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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