About Flavor and Fragrance
Flavor and fragrances are now-a-days considered to be an essential component in various packaged and consumer goods. These products provide a fresh smell of variety of flowers, fruits and essential oils. Mainly used in the toiletries, food and beverages, perfumes, cosmetics, and household products. People are becoming more health conscious that makes the key players mandatory to make their products with natural ingredients and to lower down use of chemicals as much as possible. Food and Drug Administration (FDA), European Food Safety Authority, and International Fragrance Association (IFRA) are imposing stringent rules and regulations related to the amount of chemicals content in the products and they are also engaged in investigating the products to provide audience with really healthy products. Regulatory bodies provides their certification based on this investigation. These certified products are considered to be more healthy and chemicals free , hence are preferably used by the customers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 4.65% |
Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future. As well as investing money in R&D sector to make technical up-gradations in the manufacturing process of the product. Analyst at AMA Research estimates that Chinese Vendors will contribute the maximum growth to Global Flavor and Fragrance market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Givaudan (Switzerland), Firmenich (Switzerland), IFF (United States), Symrise (Germany), Takasago (Japan), WILD Flavors (Germany), Mane (France), Frutarom (Israel), Sensient (United States), Robertet SA (France), T. Hasegawa (United States), Kerry (Ireland), McCormick (United States), Synergy Flavor (United States), Prova (United States), Huabao (China) and Yingyang (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Zhonghua (China), Shanghai Apple (China), Wanxiang International (China) and Shenzhen Boton Flavors & Fragrances Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Flavor and Fragrance market by Type (Flavor additive and Fragrance additive), Application (Food and Beverages, Daily Chemicals and Tobacco Industry) and Region.
On the basis of geography, the market of Flavor and Fragrance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
New variety i.e. mixed combination of flavor and fragrances is gaining attraction in the market and Technological Advancement in R&D sector to make more favorable and innovative changes
Market Growth Drivers:
Increasing demand for natural ingredients and Overnight industrialization in various sectors like food & beverages, perfumes, soap, detergents and more
Challenges:
High Competiton from Established Players
Restraints:
Variations in the prices of raw material and Stringent government regulations
Opportunities:
Continuous increasing investments by key players and Increasing applicability in the different sectors
Market Leaders and their expansionary development strategies
In October 2023, German flavor and fragrance giant Symrise bought out the iconic British company Bush Boake Allen, known for its expertise in natural extracts and essential oils. This expands Symrise's reach in the natural ingredients market.
In November 2023, Givaudan, a leading Swiss F&F company, acquired Global Fragrances, a US-based fragrance house known for its celebrity fragrances. This move strengthens Givaudan's position in the North American market and expands its portfolio of luxury scents.
Key Target Audience
Food and beverages manufacturers, Raw material supplier, Chemicals manufacturer, Perfumes industry and other end-user (cosmetics industry, toiletries industry and more)
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.