Flavor And Fragrance Market Report 2019 Foresees the Market to reach USD 27.3 BN by 2026
Posted On December 17, 2020
The report by Value Market Research on the Global Flavor And Fragrance Market anticipates the market growth to reach CAGR of 3.5% during 2020-2026. The market was valued close to USD 21.5 BN in 2019 and is expected to reach USD 27.3 BN by 2026. Flavors and fragrances, substances used to improve the aesthetic value of a commodity by enhancing its taste and smell. Rising demand for personal care products along with tremendous growth of the food and beverage industries are the primary triggers for this market. The wide array of applications across various sectors like food, feed, cosmetics, detergent, chemicals, and pharmaceuticals will boost the market growth. Considerable investments in microbial-based production of flavors and fragrances and biotechnology firms’ mushrooming will further propel market growth. High disposable income will augment the fragrance market’s growth due to increased demand for cosmetics, toiletries, and perfumes. The rising use of flavors in pharmaceutical preparations, dietary supplements, and nutraceuticals will benefit market growth. Irregular supply of raw materials and fluctuating prices are the significant constraints restraining the development of this market.
Flavors and fragrances are substances added to enhance the scent and taste in a broad range of consumer products, like foods, personal care, household products, cosmetics, and beverages. These substances are made of either raw or synthetic ingredients. Natural raw materials used include spices, fruit, vegetables, essential oils, herbs, and particular animal-based materials. The artificial ingredients are made from lactones, acids, esters, ketones, alcohol, and aldehydes. The possibilities of fragrances and flavors are endless, ranging from musky, floral to woody, and warm. These substances also find their use in pharmaceuticals, pet care products, incenses, and tobacco products.
The report “Global Flavor And Fragrance Market Report By Product Type (Flavor, Fragrance), By Application (Flavor, Fragrance), By Raw Material (Aroma Chemical, Essential Oils) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" covers the market introduction, key market statistics followed by in-depth regional revenue/or volume analysis. The report analyses the trends of the past years along with deeply studying the geo-political trends, thus authenticating the findings of the research and making it more reliable.
On the basis of Product Type the market is segmented into Flavor, Fragrance. By Application the flavor and fragrance market is categorised as Flavor, Fragrance.By Raw Material the flavor and fragrance market is categorised as Aroma Chemical, Essential Oils. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa are the regions covered in the report. This geographical section of the report highlights the share of the revenue/volume spread globally.
The Report Segments Global Flavor And Fragrance Market -
By Product Type
- Confectionery/ Bakery
- Fine fragrance
- Cosmetics and toiletries
- Soaps and detergents
- Household and air care
By Raw Material
- Aroma Chemical
- Essential Oils
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Givaudan, Firmenich, International Flavors & d Fragrances, Symrise, MANE, Frutarom, Takasago, Sensient Technologies Corporation, Hasegawa, Huabao International Holdings Ltd.
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