Flavour and Fragrance Market – In-Depth Analysis with Booming Trends Supporting Growth and Forecast by Bell Flavors & Fragrances, Archer Daniels Midland Company, Kerry Inc., Ogawa & Co. Ltd.
Global Flavour and Fragrance Market, By Ingredient (Synthetic, Natural), End Use (Flavour, Fragrance), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026.
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.
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Competitive Analysis:
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.
Market Definition:
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.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of Market Segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market Drivers and Restraints analysis along with the analysis of the market structure
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Market Drivers:
- 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
Market Restraints:
- 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
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.
Segmentation:
- By Ingredient
- Synthetic
- Natural
- By End Use
- Flavours
Beverages
Savoury & Snacks
Dairy Products
Bakery
Confectionary
Others
- Fragrances
Consumer Products
Fine Fragrances
- By Geography
- North America
US
Canada
Mexico
- South America
Brazil
Argentina
Rest of South America
- Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Turkey
Belgium
Netherlands
Rest of Europe
- Asia-Pacific
Japan
China
South Korea
India
Australia
Singapore
Malaysia
Indonesia
Thailand
Philippines
Rest of Asia-Pacific
- Middle East and Africa
South Africa
Egypt
Saudi Arabia
United Arab Emirates
Israel
Rest of Middle East and Africa
Research Methodology:
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report.
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