The flavors & fragrances market is expected to reach USD 31.38 Billion by 2026, according to a new report by Reports and Data.
New York, NY -- (SBWIRE) -- 01/21/2021 -- Flavors and Fragrances Market
Flavors and fragrances are made up of various chemicals including ketones, esters, alcohols, acids, lactones, and aldehydes. It mainly includes products related to personal care, food products, and hygiene. Daily-used products such as toothpaste, colas, ice-creams, cakes, etc. include favors while products like soaps, air fresheners, perfumes, etc. have fragrances in them. The cosmetic industry is one of the most important sectors in which these products are being used. Pharmaceuticals and dietary supplements are other major areas. During the forecast period, the global flavors and fragrances market is expected to grow at a CAGR of 4.3%.
In 2019, the global flavors and fragrances market was valued at USD 23.27 billion. From toiletries to food and beverages, flavors and fragrances have a wide range of applications. In the food and beverages industry, they are used in bakery products, ready-to-eat meals, colas, etc. They are also used in cosmetics, household cleaners, and daily-used household products. Owing to the increasing disposable income in emerging economies can help in the growth of the global flavors and fragrances market. The increasing preference for organic and natural products by people these days is also a major factor boosting the overall growth. This factor can also uplift the market in the future as well.
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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Flavors and Fragrances market and profiled in the report are:
Symrise AG, Givaudan SA, Firmenich SA, Agilex Flavors & Fragrances, Inc., Kao corporation, International Flavors & Fragrances, Inc., ABedoukian Research, Inc., romatech SAS, ConAgra Foods, Frutaroam industries
The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2021-2026 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.
The report further segments the market on the basis of product types and application spectrum offered by the market.
Product Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
Raw Material Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
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On the account of increasing demand from various application industries and availability of raw materials, the global flavors and fragrances market is expected to grow most in the Asia Pacific region. Moreover, in this region, the demand for exotic scents is also driving the market growth.
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Flavors & Fragrances Market Segmentation & Impact Analysis
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Flavors and Fragrances market and its competitive landscape.
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