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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Flavors And Fragrances Market: By Ingredients, By End User, and Region
Flavors And Fragrances Market: By Ingredients, By End User, and Region
Flavors And Fragrances Market size was valued at US$ 29 billion in 2023 and is projected to reach US$ 38 billion in 2030 and poised to grow at a CAGR of 4.9% during 2024 to 2030 owing to increase in demand for natural flavors and fragrances coupled with increasing consumer preference towards convenience foods. The demand for flavours and fragrances is also driven by a growing public knowledge of the benefits of the substances used in food and consumer items in nations like the United States, Japan, France, Canada, Germany, and the United Kingdom. Consumer tastes for convenience foods are changing, and demand for consumer products is expanding, which is driving up demand for flavours and scents. China is a significant market exporter as well as an industrial producer. Industrial activity in the country were hampered by strict lockdowns in the country's major provinces.
The first quarter of 2020 saw a major drop in demand for tastes and perfumes, owing to the emergence of COVID-19. China is one of the world's leading producers of tastes and perfumes. The need for convenient food, as well as increasing manufacturing of consumer goods such as personal care, home care, and fabric care, boosted the country's taste and scent output.
Study Period
2024-2030Base Year
2023CAGR
4.9%Largest Market
Asia-PacificFastest Growing Market
North America
Increasing availability of natural ingredients and rising awareness among consumers towards healthier lifestyles are the major factors driving the market for natural ingredients. The ingredients that are extracted from the plants and animal sources offers products that doesn’t have more side effects and increasing demand for dietary drinks owing to rising percentage of health conscious individuals fuels the growth of the market over the forecast period.
Asia Pacific accounted for larger revenue share in global flavors & fragrances market with significant CAGR owing to increasing population in the region and rapid urbanization coupled with increase in per capita income on consumer products in high-growth economies drives the growth of the market. China, India, Indonesia, and South Korea is expected to drive the flavors & fragrances market over the forecast period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 29 billion |
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Market Size in 2030 |
US$ 38 billion |
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Market CAGR |
4.9% |
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By Ingredients |
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By End User |
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By Region |
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The global flavors and fragrances market size was valued at US$ 29 billion in 2023 and is projected to grow at a CAGR of 4.9% from 2024 to 2030.
Givaudan, Firmenich, International Flavors & Fragrances, Symrise, Takasago
Asia-Pacific is the fastest-growing region for Flavors And Fragrances Market
| 1.Executive Summary |
| 2.Global Flavors And Fragrances Market Introduction |
| 2.1.Global Flavors And Fragrances Market - Taxonomy |
| 2.2.Global Flavors And Fragrances Market - Definitions |
| 2.2.1.Ingredients |
| 2.2.2.End User |
| 2.2.3.Region |
| 3.Global Flavors And Fragrances Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Flavors And Fragrances Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Flavors And Fragrances Market By Ingredients, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Synthetic Ingredients, |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Natural Ingredients |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global Flavors And Fragrances Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Flavors, |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Beverages, |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Savory & Snacks, |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Dairy Products, |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Confectionery, |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Fragrances, and |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Others |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7.Global Flavors And Fragrances Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Flavors And Fragrances Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Ingredients Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Synthetic Ingredients, |
| 8.1.2.Natural Ingredients |
| 8.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Flavors, |
| 8.2.2.Beverages, |
| 8.2.3.Savory & Snacks, |
| 8.2.4.Dairy Products, |
| 8.2.5.Confectionery, |
| 8.2.6.Fragrances, and |
| 8.2.7.Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Flavors And Fragrances Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Ingredients Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Synthetic Ingredients, |
| 9.1.2.Natural Ingredients |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Flavors, |
| 9.2.2.Beverages, |
| 9.2.3.Savory & Snacks, |
| 9.2.4.Dairy Products, |
| 9.2.5.Confectionery, |
| 9.2.6.Fragrances, and |
| 9.2.7.Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Flavors And Fragrances Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Ingredients Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Synthetic Ingredients, |
| 10.1.2.Natural Ingredients |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Flavors, |
| 10.2.2.Beverages, |
| 10.2.3.Savory & Snacks, |
| 10.2.4.Dairy Products, |
| 10.2.5.Confectionery, |
| 10.2.6.Fragrances, and |
| 10.2.7.Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Flavors And Fragrances Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Ingredients Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Synthetic Ingredients, |
| 11.1.2.Natural Ingredients |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Flavors, |
| 11.2.2.Beverages, |
| 11.2.3.Savory & Snacks, |
| 11.2.4.Dairy Products, |
| 11.2.5.Confectionery, |
| 11.2.6.Fragrances, and |
| 11.2.7.Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Flavors And Fragrances Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Ingredients Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Synthetic Ingredients, |
| 12.1.2.Natural Ingredients |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Flavors, |
| 12.2.2.Beverages, |
| 12.2.3.Savory & Snacks, |
| 12.2.4.Dairy Products, |
| 12.2.5.Confectionery, |
| 12.2.6.Fragrances, and |
| 12.2.7.Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Givaudan |
| 13.2.2.Firmenich |
| 13.2.3.International Flavors & Fragrances |
| 13.2.4.Symrise |
| 13.2.5.Takasago |
| 13.2.6.Sensient |
| 13.2.7.Mane |
| 13.2.8.Robertet |
| 13.2.9.Hasegawa |
| 13.2.10.Frutarom |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.