Consumer & Luxury Goods Market Research News

New report shares details about the global flavor and fragrance market that is expected to reach $33.14 billion by 2022

Consumer Market Research

Lucintel anticipates that Asia Pacific will be the fastest growing region in the Flavor and Fragrance market.

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According to a new market report published by Lucintel, the future of the global flavor and fragrance market looks good with opportunities in flavor and fragrance products, such as dairy, savory/snacks, fine fragrance, cosmetic and toiletries, and household and air care. The global flavor and fragrance market is forecast to grow at a CAGR of 4.2% from 2017 to 2022.

The major drivers of growth for this market are increasing disposable income among middle class, changing consumer preferences, and growing awareness among customers to buy products that contain natural ingredients.

In this market, fine fragrance, soap and detergents, cosmetics and toiletries, household and air care are the major applications of fragrance.

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Dairy, beverage, savory/ snacks, and confectionery/bakery are the major applications of flavor.

Lucintel predicts that the demand for fragrance is likely to experience the highest growth in the forecast period, supported by growing demand in end use applications.

On the basis of its comprehensive research, Lucintel forecasts that dairy, fine fragrances, and household and air care likely to experience the highest growth in the forecast period. Within the global flavor market, the beverage application is likely to remain the largest segment during the forecast period, while soap & detergents is likely to be the largest segment for the fragrance market.       

Asia Pacific is expected to become the largest market and is also expected to witness above average growth over the forecast period due to strengthening economies, growing urbanization, changing lifestyle, and a rise in per capita income.

For business expansion, the report suggests innovation and new product development to produce ready-made active ingredients that provide solutions for skin care applications. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost products for customers.

Emerging trends, which have a direct impact on the dynamics of the industry, include increased use of biotic ingredients and business expansion by major players in emerging markets. Givaudan, Firmenich, IFF, Symrise AG, and Takasago are among the major suppliers of the flavor and fragrance market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global flavor and fragrance market by product,  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 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard 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 by product type, application, raw material, country, and region as follows:

By Product Type (Value ($B) shipment analysis from 2011-2022)::

  • Flavor
  • Fragrance

Flavor Market by Application (Value ($B) shipment analysis from 2011-2022):

  • Dairy
  • Savory/Snacks
  • Beverage
  • Confectionery/ Bakery
  • Others

Flavor Market by Application (Value ($B) shipment analysis from 2011-2022):

  • Fine fragrance
  • Cosmetic and toiletry
  • Soap and detergents
  • House hold and air care
  • Others

By Raw material (Value ($B) shipment analysis from 2011-2022)

  • Aroma Chemical
  • Essential Oils

Regional Break down for Flavor and Fragrance Market (Value ($B) shipment analysis from 2011-2022)           

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

By Country (Value ($B) shipment analysis from 2011-2022)

  • US
  • Western Europe
  • Eastern Europe
  • Central Europe
  • China
  • Japan
  • India
  • Middle East
  • South America
  • Africa

This 173-page research report will enable you to make confident business decisions in this globally competitive marketplace.

For more information:

Make an Inquiry about this report HERE!