Consumer & Retail

According to a new market report published by Lucintel, the future of the flavor and fragrance market looks promising with opportunities in the dairy, beverages, savory/snacks, confectionery/bakery, fine fragrances, cosmetics & toiletries, soaps & detergents, household & air fresheners market. The global flavor and fragrance market is expected to reach an estimated $38.5 billion by 2027 with a CAGR of 4.1% from 2021 to 2027. 

The major drivers for this market are increasing urbanization, rise in disposable income among middle class consumers and change in consumer behavior such as taste, preference and lifestyle.

In this market, essentials oils and aroma chemical are the major type ingredients of flavor and fragrance market. Lucintel forecasts that essential oils of flavor and fragrance will remain the largest segment over the forecast period due to increasing demand for aromatherapy, increased demand for food & beverage and cosmetic applications, and growing research & development activities. Aroma chemical is expected to witness the highest growth over the forecast period.

Within the flavor and fragrance market, beverage will remain the largest application segment over the forecast period due to growing consumption of energy soft drinks, sports drinks, and juices. Others is expected to witness the highest growth over the forecast period.

Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to strengthening economies, growing urbanization, changing lifestyle, and a rise in per capita income.

Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing use of biotic ingredients in beverage and dairy products. Givaudan, Firmenich, IFF, Symrise, Takasago, Mane SA, Frutarom, Sensient Flavors, T. Hasegawa and Huabao International companies are among the manufacturers of flavor and fragrances.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global flavor and fragrance market by application, product type, ingredient type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Flavor and Fragrance Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global flavor and fragrance market by application, product type, ingredient type, and region as follows:




































This 206-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/flavor-and-fragrance-market.aspx or write us at helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high growth opportunities for the global flavor and fragrance market by applications (dairy, savory, confectionery, beverage, fine fragrance, cosmetic & toiletry, soaps & detergents, household & air care, and others), product type (flavor and fragrance), ingredients type (essential oils and aroma chemical), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?