According to a new market report published by Lucintel, the future of the global flavor and fragrance market looks promising with opportunities in dairy, savory/snacks, fine fragrance, cosmetics, toiletries, household, and air care. The global flavor and fragrance market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $77.6 billion by 2025 with a CAGR of 2% to 4% from 2020 to 2025. The major drivers for this market are increasing disposable income among the middle class, changing consumer preference, and growing awareness among customers to buy products that contain natural ingredients.
Browse 96 market data tables and 114 figures spread through 206 pages and in-depth TOC on “Global Flavor and Fragrance Market"
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In this market, different types of flavor and fragrance such as flavor and fragrance are used as product. On the basis of comprehensive research, Lucintel forecasts that flavor is expected to remain the largest segment by value due to growing popularity of nutritionally supplemented functional foods, low-sodium foods, and low-sugar beverages.
Within the global flavor and fragrance market, beverage will remain the largest application and it is also expected to witness the highest growth over the forecast period due to growing consumption of energy soft drinks, sports drinks, and juices.
Asia Pacific will be expected to remain the largest region by value and volume and it is also expected to witness the highest growth over forecast period due to strengthening economies, growing urbanization, changing lifestyle, and a rise in per capita income.
An emerging trend, which has a direct impact on the dynamics of the flavor and fragrance industry, includes the increasing use of biotic ingredients in beverage and dairy products. Givaudan, Firmenich, IFF, Symrise, Takasago, Mane SA, Frutarom, Sensient Flavors, Robertet SA and T. Hasegawa and others are among the major flavor and fragrance manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global flavor and fragrance market by product type, application, raw material, country, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Flavor and Fragrance Market 2020-2025: 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 product type, application, raw material, country, and region as follows:
By Product Type (Value ($B) shipment analysis from 2014-2025):
Residential
Non Residential
By Application Type (Value ($B) shipment analysis from 2014-2025):
Flavor
Dairy
Savory/Snacks
Beverage
Confectionery/ Bakery
Others
Fragrance
Fine fragrance
Cosmetics and toiletries
Soaps and detergents
Household and air care
Others
By Raw Material (Value ($B) shipment analysis from 2014-2025):
Aroma Chemical
Essential Oils
By Region (Value ($B) shipment analysis from 2014-2025):
North America
Europe
Asia Pacific
The Rest of the World
By Country (Value ($B) shipment analysis from 2014-2025):
US
Western Europe
Eastern Europe
Central Europe
China
Japan
India
Middle East
South America
Africa
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 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.