The global flavor and fragrance market is forecast to grow at a CAGR of 4.2% from 2017 to 2022. The major drivers of growth for this market are increasing disposable income among middle class, changing consumer preferences, and growing awareness among customers to buy products that contain natural ingredients.
Trends, opportunities and forecast in this market to 2022 by product (flavor and fragrance), application (dairy, savory/snacks, confectionery/bakery, beverage, fine fragrance, cosmetic and toiletry, soaps and detergents, household and air care, and others), raw material (aroma chemical and essential oils), and region (North America, Europe, Asia Pacific, and the Rest of the World)
The future of the global flavor and fragrance market looks good with opportunities in flavor and fragrance products, such as dairy, savory/snacks, fine fragrance, cosmetic and toiletries, and household and air care.
Emerging trends, which have a direct impact on the dynamics of the flavor and fragrance industry, include increased use of biotic ingredients and business expansion by major players in emerging markets.
Flavor and fragrance companies profiled in this market include Givaudan, Firmenich, IFF, Symrise AG, and Takasago are among the major suppliers of the flavor and fragrance market.
Within the global flavor market, the beverage application is likely to remain the largest segment during the forecast period, while soap & detergents is likely to be the largest segment for the fragrance market.
Asia Pacific is expected to become the largest market and is also expected to witness above average growth over the forecast period due to strengthening economies, growing urbanization, changing lifestyle, and a rise in per capita income.
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2011 to 2022