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Flavors and Fragrances Market Report by Technavio predicts USD 10.44 Bn growth -- Driven by an increasing number of new product launches
Saturday, October 1, 2022

NEW YORK, Sept. 25, 2022 /PRNewswire/ -- The flavors and fragrances market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the flavors and fragrances market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.

The report on the flavors and fragrances market by Technavio expects the market size to increase at a CAGR of 5.64% and register an incremental growth of USD 10.44 billion between 2021 and 2026. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: the threat of counterfeit products and stringent regulations and guidelines.

According to Technavio, the growth of the market is primarily driven by the increasing number of new product launches.

Successful new product launches help vendors increase their revenue and aid in expanding their market share. New product launches also provide multiple options to buyers, thus allowing vendors to increase their consumer base. Such benefits are encouraging vendors in the market to focus on new product launches. All these factors are driving the growth of the market in focus.

"Rising demand for personal care and food flavoring products and increase in disposable income will further accelerate the growth of the market", says an analyst at Technavio.

The global flavors and fragrances market is fragmented, with the presence of numerous players at the regional level. Key players, including Givaudan SA, Symrise AG, Firmenich SA, McCormick and Company Inc., and Takasago International Corp., have established a strong presence in the market through their established brands.

The market is expected to grow during the forecast period, owing to the increasing demand for fragrances and flavors in the food and beverage and cosmetic industries, rapid urbanization, and new product launches. Vendors are investing in organic and inorganic growth strategies, such as the expansion of production plants and the acquisition of local companies, to increase their productivity and strengthen their market positions. Furthermore, consumers across the world have become conscious of the quality of consumable products. Hence, the competition in the global flavors and fragrances market is likely to shift from pricing to quality and brand reputation. Therefore, it is difficult for new market players to enter the global flavors and fragrances market.

The report breaks down the market into the following segments:

    --  Functionality: fragrances and flavors
    --  Geography: APAC, North America, Europe, South America, MEA

Based on the functionality, the fragrances segment is expected to create more revenue in the market. The segment is driven by the rising demand from end-users such as manufacturers of fine fragrances, cosmetics and toiletries, soaps and detergents, household cleaners, and air fresheners. Also, the growing awareness about hygiene and an increase in per capita income are driving the demand for household cleaners and air fresheners globally.

In terms of region, APAC will emerge as the dominant region, occupying 41% of the global market share. The regional market is driven by the presence of a huge consumer base, rising working women population, growing demand for international cuisines, and penetration of key vendors.

The complete report on the global flavors and fragrances market offers detailed insights on the potential business segments and regions to invest in over the forecast period. Before making the purchase, we recommend reading our Sample PDF Report.

The flavors and fragrances market report answers questions such as:

    --  Is the market structure fragmented or concentrated?
    --  What was the market size in 2021 and the forecast for the flavors and
        fragrances market through 2026?
    --  Which are the best product segment areas to invest in over the forecast
        period?
    --  What is the market share of dominant and strong vendors in the flavors
        and fragrances market?
    --  What are the inhibiting factors and the impact of COVID-19 on the
        flavors and fragrances market growth?
    --  What are the latest trends and regulatory frameworks in the flavors and
        fragrances market?

Got more queries? Speak to our analyst now

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              Flavors and Fragrances Market Scope


                 Report Coverage                     
     
              Details



     Page number                                                                                                                                                               120



     Base year                                                                                                                                                                2021



     Forecast period                                
     2022-2026


      Growth momentum & CAGR                                                                                                                          Accelerate at a CAGR of 5.64%


      Market growth 2022-2026                        
     USD 10.44 billion



     Market structure                               
     Fragmented



     YoY growth (%)                                                                                                                                                           5.1



     Regional analysis                              
     APAC, North America, Europe, South America, and Middle East and Africa


      Performing market contribution                                                                                                                                    APAC at 44%


      Key consumer countries                         
     US, China, Japan, India, Germany, and Italy



     Competitive landscape                          
     Leading companies, competitive strategies, consumer engagement scope



     Companies profiled                               Archer Daniels Midland Co., BASF SE, Custom Flavors, DuPont de Nemours Inc., Firmenich SA, Flavorchem Corp, Givaudan SA, H
                                                        Roberts Group Pte Ltd, Huabao International Holdings Ltd, Kerry Group Plc, Keva Flavours Pvt Ltd, McCormick and Co. Inc.,
                                                        Robertet SA, Sensient Technologies Corp., Solvay SA, Symrise AG, Synergy Flavors, Takasago International Corp, and The MANE
                                                        Group



     Market Dynamics                                  Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19
                                                        impact and future consumer dynamics, and market condition analysis for the forecast period.



     Customization purview                            If our report has not included the data that you are looking for, you can reach out to our analysts and get segments
                                                        customized.

1 Executive Summary

    --  1.1 Market Overview
        --  Exhibit 01: Executive Summary - Chart on Market Overview
        --  Exhibit 02: Executive Summary - Data Table on Market Overview
        --  Exhibit 03: Executive Summary - Chart on Global Market
            Characteristics
        --  Exhibit 04: Executive Summary - Chart on Market by Geography
        --  Exhibit 05: Executive Summary - Chart on Market Segmentation by Type
        --  Exhibit 06: Executive Summary - Chart on Market Segmentation by
            Product
        --  Exhibit 07: Executive Summary - Chart on Incremental Growth
        --  Exhibit 08: Executive Summary - Data Table on Incremental Growth
        --  Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

    --  2.1 Market ecosystem
        --  Exhibit 10: Parent market
        --  Exhibit 11: Market Characteristics

3 Market Sizing

    --  3.1 Market definition
        --  Exhibit 12: Offerings of vendors included in the market definition
    --  3.2 Market segment analysis
        --  Exhibit 13: Market segments
    --  3.3 Market size 2021
    --  3.4 Market outlook: Forecast for 2021-2026
        --  Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 15: Data Table on Global - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026
            (%)
        --  Exhibit 17: Data Table on Global Market: Year-over-year growth
            2021-2026 (%)

4 Five Forces Analysis

    --  4.1 Five forces summary
        --  Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    --  4.2 Bargaining power of buyers
        --  Exhibit 19: Chart on Bargaining power of buyers - Impact of key
            factors 2021 and 2026
    --  4.3 Bargaining power of suppliers
        --  Exhibit 20: Bargaining power of suppliers - Impact of key factors in
            2021 and 2026
    --  4.4 Threat of new entrants
        --  Exhibit 21: Threat of new entrants - Impact of key factors in 2021
            and 2026
    --  4.5 Threat of substitutes
        --  Exhibit 22: Threat of substitutes - Impact of key factors in 2021
            and 2026
    --  4.6 Threat of rivalry
        --  Exhibit 23: Threat of rivalry - Impact of key factors in 2021 and
            2026
    --  4.7 Market condition
        --  Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

    --  5.1 Market segments
        --  Exhibit 25: Chart on Type - Market share 2021-2026 (%)
        --  Exhibit 26: Data Table on Type - Market share 2021-2026 (%)
    --  5.2 Comparison by Type
        --  Exhibit 27: Chart on Comparison by Type
        --  Exhibit 28: Data Table on Comparison by Type
    --  5.3 Fragrances - Market size and forecast 2021-2026
        --  Exhibit 29: Chart on Fragrances - Market size and forecast 2021-2026
            ($ million)
        --  Exhibit 30: Data Table on Fragrances - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 31: Chart on Fragrances - Year-over-year growth 2021-2026
            (%)
        --  Exhibit 32: Data Table on Fragrances - Year-over-year growth
            2021-2026 (%)
    --  5.4 Flavors - Market size and forecast 2021-2026
        --  Exhibit 33: Chart on Flavors - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 34: Data Table on Flavors - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 35: Chart on Flavors - Year-over-year growth 2021-2026 (%)
        --  Exhibit 36: Data Table on Flavors - Year-over-year growth 2021-2026
            (%)
    --  5.5 Market opportunity by Type
        --  Exhibit 37: Market opportunity by Type ($ million)

6 Market Segmentation by Product

    --  6.1 Market segments
        --  Exhibit 38: Chart on Product - Market share 2021-2026 (%)
        --  Exhibit 39: Data Table on Product - Market share 2021-2026 (%)
    --  6.2 Comparison by Product
        --  Exhibit 40: Chart on Comparison by Product
        --  Exhibit 41: Data Table on Comparison by Product
    --  6.3 Formulated flavors and fragrances - Market size and forecast
        2021-2026
        --  Exhibit 42: Chart on Formulated flavors and fragrances - Market size
            and forecast 2021-2026 ($ million)
        --  Exhibit 43: Data Table on Formulated flavors and fragrances - Market
            size and forecast 2021-2026 ($ million)
        --  Exhibit 44: Chart on Formulated flavors and fragrances -
            Year-over-year growth 2021-2026 (%)
        --  Exhibit 45: Data Table on Formulated flavors and fragrances -
            Year-over-year growth 2021-2026 (%)
    --  6.4 Aroma chemicals - Market size and forecast 2021-2026
        --  Exhibit 46: Chart on Aroma chemicals - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 47: Data Table on Aroma chemicals - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 48: Chart on Aroma chemicals - Year-over-year growth
            2021-2026 (%)
        --  Exhibit 49: Data Table on Aroma chemicals - Year-over-year growth
            2021-2026 (%)
    --  6.5 Essential oils - Market size and forecast 2021-2026
        --  Exhibit 50: Chart on Essential oils - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 51: Data Table on Essential oils - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 52: Chart on Essential oils - Year-over-year growth
            2021-2026 (%)
        --  Exhibit 53: Data Table on Essential oils - Year-over-year growth
            2021-2026 (%)
    --  6.6 Market opportunity by Product
        --  Exhibit 54: Market opportunity by Product ($ million)

7 Customer Landscape

    --  7.1 Customer landscape overview
        --  Exhibit 55: Analysis of price sensitivity, lifecycle, customer
            purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

    --  8.1 Geographic segmentation
        --  Exhibit 56: Chart on Market share by geography 2021-2026 (%)
        --  Exhibit 57: Data Table on Market share by geography 2021-2026 (%)
    --  8.2 Geographic comparison
        --  Exhibit 58: Chart on Geographic comparison
        --  Exhibit 59: Data Table on Geographic comparison
    --  8.3 APAC - Market size and forecast 2021-2026
        --  Exhibit 60: Chart on APAC - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 61: Data Table on APAC - Market size and forecast 2021-2026
            ($ million)
        --  Exhibit 62: Chart on APAC - Year-over-year growth 2021-2026 (%)
        --  Exhibit 63: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    --  8.4 North America - Market size and forecast 2021-2026
        --  Exhibit 64: Chart on North America - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 65: Data Table on North America - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 66: Chart on North America - Year-over-year growth 2021-2026
            (%)
        --  Exhibit 67: Data Table on North America - Year-over-year growth
            2021-2026 (%)
    --  8.5 Europe - Market size and forecast 2021-2026
        --  Exhibit 68: Chart on Europe - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 69: Data Table on Europe - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 70: Chart on Europe - Year-over-year growth 2021-2026 (%)
        --  Exhibit 71: Data Table on Europe - Year-over-year growth 2021-2026
            (%)
    --  8.6 South America - Market size and forecast 2021-2026
        --  Exhibit 72: Chart on South America - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 73: Data Table on South America - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 74: Chart on South America - Year-over-year growth 2021-2026
            (%)
        --  Exhibit 75: Data Table on South America - Year-over-year growth
            2021-2026 (%)
    --  8.7 Middle East and Africa - Market size and forecast 2021-2026
        --  Exhibit 76: Chart on Middle East and Africa - Market size and
            forecast 2021-2026 ($ million)
        --  Exhibit 77: Data Table on Middle East and Africa - Market size and
            forecast 2021-2026 ($ million)
        --  Exhibit 78: Chart on Middle East and Africa - Year-over-year growth
            2021-2026 (%)
        --  Exhibit 79: Data Table on Middle East and Africa - Year-over-year
            growth 2021-2026 (%)
    --  8.8 US - Market size and forecast 2021-2026
        --  Exhibit 80: Chart on US - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 81: Data Table on US - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 82: Chart on US - Year-over-year growth 2021-2026 (%)
        --  Exhibit 83: Data Table on US - Year-over-year growth 2021-2026 (%)
    --  8.9 China - Market size and forecast 2021-2026
        --  Exhibit 84: Chart on China - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 85: Data Table on China - Market size and forecast 2021-2026
            ($ million)
        --  Exhibit 86: Chart on China - Year-over-year growth 2021-2026 (%)
        --  Exhibit 87: Data Table on China - Year-over-year growth 2021-2026
            (%)
    --  8.10 Japan - Market size and forecast 2021-2026
        --  Exhibit 88: Chart on Japan - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 89: Data Table on Japan - Market size and forecast 2021-2026
            ($ million)
        --  Exhibit 90: Chart on Japan - Year-over-year growth 2021-2026 (%)
        --  Exhibit 91: Data Table on Japan - Year-over-year growth 2021-2026
            (%)
    --  8.11 Germany - Market size and forecast 2021-2026
        --  Exhibit 92: Chart on Germany - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 93: Data Table on Germany - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 94: Chart on Germany - Year-over-year growth 2021-2026 (%)
        --  Exhibit 95: Data Table on Germany - Year-over-year growth 2021-2026
            (%)
    --  8.12 Italy - Market size and forecast 2021-2026
        --  Exhibit 96: Chart on Italy - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 97: Data Table on Italy - Market size and forecast 2021-2026
            ($ million)
        --  Exhibit 98: Chart on Italy - Year-over-year growth 2021-2026 (%)
        --  Exhibit 99: Data Table on Italy - Year-over-year growth 2021-2026
            (%)
    --  8.13 India - Market size and forecast 2021-2026
        --  Exhibit 100: Chart on India - Market size and forecast 2021-2026 ($
            million)
        --  Exhibit 101: Data Table on India - Market size and forecast
            2021-2026 ($ million)
        --  Exhibit 102: Chart on India - Year-over-year growth 2021-2026 (%)
        --  Exhibit 103: Data Table on India - Year-over-year growth 2021-2026
            (%)
    --  8.14 Market opportunity by geography
        --  Exhibit 104: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

    --  9.1 Market drivers
    --  9.2 Market challenges
    --  9.3 Impact of drivers and challenges
        --  Exhibit 105: Impact of drivers and challenges in 2021 and 2026
    --  9.4 Market trends

10 Vendor Landscape

    --  10.1 Overview
    --  10.2 Vendor landscape
        --  Exhibit 106: Overview on Criticality of inputs and Factors of
            differentiation
    --  10.3 Landscape disruption
        --  Exhibit 107: Overview on factors of disruption
    --  10.4 Industry risks
        --  Exhibit 108: Impact of key risks on business

11 Vendor Analysis

    --  11.1 Vendors covered
        --  Exhibit 109: Vendors covered
    --  11.2 Market positioning of vendors
        --  Exhibit 110: Matrix on vendor position and classification
    --  11.3 DuPont de Nemours Inc.
        --  Exhibit 111: DuPont de Nemours Inc. - Overview
        --  Exhibit 112: DuPont de Nemours Inc. - Business segments
        --  Exhibit 113: DuPont de Nemours Inc. - Key offerings
        --  Exhibit 114: DuPont de Nemours Inc. - Segment focus
    --  11.4 Firmenich SA
        --  Exhibit 115: Firmenich SA - Overview
        --  Exhibit 116: Firmenich SA - Product / Service
        --  Exhibit 117: Firmenich SA - Key offerings
    --  11.5 Givaudan SA
        --  Exhibit 118: Givaudan SA - Overview
        --  Exhibit 119: Givaudan SA - Business segments
        --  Exhibit 120: Givaudan SA - Key offerings
        --  Exhibit 121: Givaudan SA - Segment focus
    --  11.6 Kerry Group Plc
        --  Exhibit 122: Kerry Group Plc - Overview
        --  Exhibit 123: Kerry Group Plc - Business segments
        --  Exhibit 124: Kerry Group Plc - Key news
        --  Exhibit 125: Kerry Group Plc - Key offerings
        --  Exhibit 126: Kerry Group Plc - Segment focus
    --  11.7 McCormick and Co. Inc.
        --  Exhibit 127: McCormick and Co. Inc. - Overview
        --  Exhibit 128: McCormick and Co. Inc. - Business segments
        --  Exhibit 129: McCormick and Co. Inc. - Key offerings
        --  Exhibit 130: McCormick and Co. Inc. - Segment focus
    --  11.8 Sensient Technologies Corp.
        --  Exhibit 131: Sensient Technologies Corp. - Overview
        --  Exhibit 132: Sensient Technologies Corp. - Business segments
        --  Exhibit 133: Sensient Technologies Corp. - Key offerings
        --  Exhibit 134: Sensient Technologies Corp. - Segment focus
    --  11.9 Solvay SA
        --  Exhibit 135: Solvay SA - Overview
        --  Exhibit 136: Solvay SA - Business segments
        --  Exhibit 137: Solvay SA - Key news
        --  Exhibit 138: Solvay SA - Key offerings
        --  Exhibit 139: Solvay SA - Segment focus
    --  11.10 Symrise AG
        --  Exhibit 140: Symrise AG - Overview
        --  Exhibit 141: Symrise AG - Business segments
        --  Exhibit 142: Symrise AG - Key offerings
        --  Exhibit 143: Symrise AG - Segment focus
    --  11.11 Takasago International Corp
        --  Exhibit 144: Takasago International Corp - Overview
        --  Exhibit 145: Takasago International Corp - Business segments
        --  Exhibit 146: Takasago International Corp - Key news
        --  Exhibit 147: Takasago International Corp - Key offerings
        --  Exhibit 148: Takasago International Corp - Segment focus
    --  11.12 The MANE Group
        --  Exhibit 149: The MANE Group - Overview
        --  Exhibit 150: The MANE Group - Product / Service
        --  Exhibit 151: The MANE Group - Key offerings

12 Appendix

    --  12.1 Scope of the report
    --  12.2 Inclusions and exclusions checklist
        --  Exhibit 152: Inclusions checklist
        --  Exhibit 153: Exclusions checklist
    --  12.3 Currency conversion rates for US$
        --  Exhibit 154: Currency conversion rates for US$
    --  12.4 Research methodology
        --  Exhibit 155: Research methodology
        --  Exhibit 156: Validation techniques employed for market sizing
        --  Exhibit 157: Information sources
    --  12.5 List of abbreviations
        --  Exhibit 158: List of abbreviations
    --  rate of industrialization: Several products from the global diversified
        chemicals market are used in various industries, including automotive,
        polymer modification, chemicals, and consumer goods. The growth of the
        global diversified chemicals market is highly influenced by the growing
        rate of industrialization across the world, especially in emerging
        economies.

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio



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