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Report
Global Flavours and Fragrances Market Report and Forecast 2023-2028
Market Report I 2023-09-05 I 160 Pages I EMR Inc.
Global Flavours and Fragrances Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global flavours and fragrances market reached a value of USD 27.9 billion in 2022. Aided by the evolving consumer preferences and a burgeoning demand from various end-use industries, the market is projected to further grow at a CAGR of 4.6% between 2023 and 2028 to reach a value of USD 36.5 billion by 2028.
Flavours and fragrances are intricate mixtures of natural or synthetic substances, meticulously crafted to impart a distinct aroma or taste to a myriad of products, from foods and beverages to personal care and household items. Acting as the silent ambassadors of brands, they play a pivotal role in determining the consumer's product experience and consequently, the product's success in the market.
The culinary world's relentless quest for novel and exotic tastes is one of the flavours and fragrances market trends propelling the market. The globalisation of cuisines and an increasingly adventurous consumer palate have catalysed the need for unique and diverse flavour profiles. This is further augmented by the burgeoning trend of health and wellness, leading to a demand for natural and organic flavours that align with the clean-label movement.
On the fragrances frontier, the personal care and cosmetics industry emerges as a linchpin. The contemporary consumer, with an enhanced emphasis on personal grooming and self-expression, seeks products with signature scents that resonate with their identity. Additionally, the home care sector, driven by a rising inclination towards ambient aromas, is fostering the demand for fragrances in products such as candles, diffusers, and air fresheners.
Another influential factor steering the flavours and fragrances market growth is regional preferences. While Western markets exhibit a preference for soft, floral fragrances, the Asian markets lean towards bold and spicy notes. Similarly, in the realm of flavours, while there's a global drift towards spicy and tangy notes, regional nuances exist, and catering to this diversified palate is both a challenge and an opportunity for players in the industry.
Geographically, the Asia Pacific region, buoyed by its massive consumer base and rapid urbanisation, accounts for a significant portion of the flavours and fragrances market share. Fast-evolving consumption patterns, coupled with an increasing spending capacity in countries like China, India, and Indonesia, pave the way for lucrative market opportunities. The European and North American markets, with their high demand for premium and niche products, continue to hold significant market shares.
Market Segmentation
The flavours market can be divided based on product type, form, and application.
Market Breakup by Product Type
- Nature-Identical
- Artificial
- Natural
Market Breakup by Form
- Liquid
- Dry
Market Breakup by Application
- Beverages
- Dairy and Frozen Desserts
- Savouries and Snacks
- Bakery and Confectionery Products
- Others
The fragrances market can be divided based on ingredients and application.
Market Breakup by Ingredients
- Synthetic
- Natural
Market Breakup by Application
- Soap and Detergents
- Cosmetics and Toiletries
- Fine Fragrances
- Households Cleaners and Fresheners
- Others
Global Flavours and Fragrances Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global flavours and fragrances market. Some of the major players explored in the report by Expert Market Research are as follows:
- Givaudan
- Firmenich SA
- International Flavours & Fragrances Inc.
- Symrise Group
- Takasago International Corporation
- Mane Group
- Sensient Technologies Corporation
- ADM
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Flavours Market Analysis
8.1 Key Industry Highlights
8.2 Global Flavours Historical Market (2018-2022)
8.3 Global Flavours Market Forecast (2023-2028)
8.4 Global Flavours Market by Product Type
8.4.1 Nature-Identical
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Artificial
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Natural
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Flavours Market by Form
8.5.1 Liquid
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Dry
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Flavours Market by Application
8.6.1 Beverages
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Dairy and Frozen Desserts
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Savouries and Snacks
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Bakery and Confectionery Products
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Flavours Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
8.8 Regional Analysis
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.1.3 Breakup by Country
8.8.1.3.1 United States of America
8.8.1.3.2 Canada
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.2.3 Breakup by Country
8.8.2.3.1 United Kingdom
8.8.2.3.2 Germany
8.8.2.3.3 France
8.8.2.3.4 Italy
8.8.2.3.5 Others
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.3.3 Breakup by Country
8.8.3.3.1 China
8.8.3.3.2 Japan
8.8.3.3.3 India
8.8.3.3.4 ASEAN
8.8.3.3.5 Australia
8.8.3.3.6 Others
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.4.3 Breakup by Country
8.8.4.3.1 Brazil
8.8.4.3.2 Argentina
8.8.4.3.3 Mexico
8.8.4.3.4 Others
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
8.8.5.3 Breakup by Country
8.8.5.3.1 Saudi Arabia
8.8.5.3.2 United Arab Emirates
8.8.5.3.3 Nigeria
8.8.5.3.4 South Africa
8.8.5.3.5 Others
9 Global Fragrances Market Analysis
9.1 Key Industry Highlights
9.2 Global Fragrances Historical Market (2018-2022)
9.3 Global Fragrances Market Forecast (2023-2028)
9.4 Global Fragrances Market by Ingredients
9.4.1 Synthetic
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2022)
9.4.1.3 Forecast Trend (2023-2028)
9.4.2 Natural
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2022)
9.4.2.3 Forecast Trend (2023-2028)
9.5 Global Fragrances Market by Application
9.5.1 Soap and Detergents
9.5.1.1 Market Share
9.5.1.2 Historical Trend (2018-2022)
9.5.1.3 Forecast Trend (2023-2028)
9.5.2 Cosmetics and Toiletries
9.5.2.1 Market Share
9.5.2.2 Historical Trend (2018-2022)
9.5.2.3 Forecast Trend (2023-2028)
9.5.3 Fine Fragrances
9.5.3.1 Market Share
9.5.3.2 Historical Trend (2018-2022)
9.5.3.3 Forecast Trend (2023-2028)
9.5.4 Households Cleaners and Fresheners
9.5.4.1 Market Share
9.5.4.2 Historical Trend (2018-2022)
9.5.4.3 Forecast Trend (2023-2028)
9.5.5 Others
9.6 Global Fragrances Market by Region
9.6.1 Market Share
9.6.1.1 North America
9.6.1.2 Europe
9.6.1.3 Asia Pacific
9.6.1.4 Latin America
9.6.1.5 Middle East and Africa
9.7 Regional Analysis
9.7.1 North America
9.7.1.1 Historical Trend (2018-2022)
9.7.1.2 Forecast Trend (2023-2028)
9.7.1.3 Breakup by Country
9.7.1.3.1 United States of America
9.7.1.3.2 Canada
9.7.2 Europe
9.7.2.1 Historical Trend (2018-2022)
9.7.2.2 Forecast Trend (2023-2028)
9.7.2.3 Breakup by Country
9.7.2.3.1 United Kingdom
9.7.2.3.2 Germany
9.7.2.3.3 France
9.7.2.3.4 Italy
9.7.2.3.5 Others
9.7.3 Asia Pacific
9.7.3.1 Historical Trend (2018-2022)
9.7.3.2 Forecast Trend (2023-2028)
9.7.3.3 Breakup by Country
9.7.3.3.1 China
9.7.3.3.2 Japan
9.7.3.3.3 India
9.7.3.3.4 ASEAN
9.7.3.3.5 Australia
9.7.3.3.6 Others
9.7.4 Latin America
9.7.4.1 Historical Trend (2018-2022)
9.7.4.2 Forecast Trend (2023-2028)
9.7.4.3 Breakup by Country
9.7.4.3.1 Brazil
9.7.4.3.2 Argentina
9.7.4.3.3 Mexico
9.7.4.3.4 Others
9.7.5 Middle East and Africa
9.7.5.1 Historical Trend (2018-2022)
9.7.5.2 Forecast Trend (2023-2028)
9.7.5.3 Breakup by Country
9.7.5.3.1 Saudi Arabia
9.7.5.3.2 United Arab Emirates
9.7.5.3.3 Nigeria
9.7.5.3.4 South Africa
9.7.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players' Market Share
12.3 Company Profiles
12.3.1 Givaudan
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.1.3 Demographic Reach and Achievements
12.3.1.4 Certifications
12.3.2 Firmenich SA
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Demographic Reach and Achievements
12.3.2.4 Certifications
12.3.3 International Flavours & Fragrances Inc.
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.3.3 Demographic Reach and Achievements
12.3.3.4 Certifications
12.3.4 Symrise Group
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.4.3 Demographic Reach and Achievements
12.3.4.4 Certifications
12.3.5 Takasago International Corporation
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
12.3.5.3 Demographic Reach and Achievements
12.3.5.4 Certifications
12.3.6 Mane Group
12.3.6.1 Company Overview
12.3.6.2 Product Portfolio
12.3.6.3 Demographic Reach and Achievements
12.3.6.4 Certifications
12.3.7 Sensient Technologies Corporation
12.3.7.1 Company Overview
12.3.7.2 Product Portfolio
12.3.7.3 Demographic Reach and Achievements
12.3.7.4 Certifications
12.3.8 ADM
12.3.8.1 Company Overview
12.3.8.2 Product Portfolio
12.3.8.3 Demographic Reach and Achievements
12.3.8.4 Certifications
12.3.9 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Flavours Market: Key Industry Highlights, 2018 and 2028
2. Global Flavours Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3. Global Flavours Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global Flavours Historical Market: Breakup by Form (USD Billion), 2018-2022
5. Global Flavours Market Forecast: Breakup by Form (USD Billion), 2023-2028
6. Global Flavours Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Global Flavours Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Global Flavours Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Flavours Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Flavours Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Flavours Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Flavours Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Flavours Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Flavours Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Flavours Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Flavours Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Flavours Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Flavours Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Flavours Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Fragrances Market: Key Industry Highlights, 2015 and 2025
21. Global Fragrances Historical Market: Breakup by Ingredients (USD Billion), 2018-2022
22. Global Fragrances Market Forecast: Breakup by Ingredients (USD Billion), 2023-2028
23. Global Fragrances Historical Market: Breakup by Application (USD Billion), 2018-2022
24. Global Fragrances Market Forecast: Breakup by Application (USD Billion), 2023-2028
25. Global Fragrances Historical Market: Breakup by Region (USD Billion), 2018-2022
26. Global Fragrances Market Forecast: Breakup by Region (USD Billion), 2023-2028
27. North America Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2022
28. North America Fragrances Market Forecast: Breakup by Country (USD Billion), 2023-2028
29. Europe Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2022
30. Europe Fragrances Market Forecast: Breakup by Country (USD Billion), 2023-2028
31. Asia Pacific Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2022
32. Asia Pacific Fragrances Market Forecast: Breakup by Country (USD Billion), 2023-2028
33. Latin America Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2022
34. Latin America Fragrances Market Forecast: Breakup by Country (USD Billion), 2023-2028
35. Middle East and Africa Fragrances Historical Market: Breakup by Country (USD Billion), 2018-2022
36. Middle East and Africa Fragrances Market Forecast: Breakup by Country (USD Billion), 2023-2028
37. Global Flavours and Fragrances Market Structure
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