Rising consciousness of people regarding the healthy choices, focus on the intake of a plant-based diet, and natural ingredients are the key growth promoting factors of the global flavors and fragrances market. IndustryARC’s freshly compiled business intelligence report presents that the global flavors & fragrances market size stood at $28.2 billion in 2018, and projects it to grow at a Compound Annual Growth Rate (CAGR) of 4.90% over the forecast period 2019-2025. The analyst of the report highlights that while sweet and savory snacks are sustaining strong demand, the fragrance industry is disrupted by the players experimenting with aroma chemicals and chiral odorants.
The report is titled: “Flavors & Fragrances Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast (2019 – 2025).” The report covers Flavors & Fragrances Market size by type and applications, Flavors & Fragrances Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Report Price (Single User): US $3850
Flavors & Fragrances Market: Leading Segments
The essence of taste is playing a crucial role in flavor preferences in the food and beverage industry. Flavor companies add more value to the food and beverages products. As they are helpful for food and beverages companies to deliver matching products with ever-changing consumer preferences. Analyst of the report has acknowledged that, flavors is the fastest growing application with a CAGR of 5.10% during the above-mentioned forecast period. Beverages and dairy industries are recognized as the most dominating end-user markets for flavors.
Asia-Pacific is the leading region with a share of 38.23% in the global flavors & fragrances market for the year 2018. It is owing to the increasing presence of flavors and fragrances in South East Asia through the establishment of new offices in Thailand and Indonesia. These plant expansions results in growth in warehousing, sales and delivery capabilities as well. Fragrances and Flavours Association of India (FAFAI) is a promising body that deals with the educational programmes allied with the flavors and fragrances products. Which is driving the demand for new food and beverage products in the APAC region and also reshaping the growth of APAC flavors and fragrances market. The growing number of acquisitions and newly launched facilities across APAC region has influenced its regional share in the global flavors & fragrances market in 2018.
Flavors & Fragrances Market: Disruptive Trends
Growing demand for odorant natural solutions than ever before due to the fluctuations in consumer preferences and environmental concerns. Presently consumers are more specific about the health, naturalness, nutrition and environmental aids of the products they consume in on a daily basis.
Increasing manufacturers focus to prepare the products and solutions, according to the preference of the dominant generation of consumers that is millennials. As it is the optimal approach to meet the current consumer needs as a part of consumer engagement process via consumer trends.
In February 2019, International Flavors & Fragrances Inc. (IFF) has acquired The Additive Advantage, which is a developer of innovative technologies with varied capabilities that span applications and industries. Through this acquisition, IFF has extended and reinforced its novelty capabilities for taste, scent, and active ingredients.
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Flavors & Fragrances Market: Competitive Landscape
Some of the major flavors & fragrances market share players are listed as Bedoukian Research, Inc., Firmenich SA, Givaudan SA, Aromatech SAS, Frutarom, International Flavors & Fragrances Inc., Robertet SA, Mane, Sensient, T.Hasegawa, Symrise AG, and Takasago in the global flavors & fragrances market report.
Related Reports:
A. Flavours & Fragrances Ingredients Market
https://www.industryarc.com/Report/18866/flavours-and-fragrances-ingredients-market
B. Natural Flavors Market
https://www.industryarc.com/Report/15049/natural-flavors-market.html
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Source URL: https://marketersmedia.com/flavors-fragrances-market-evaluated-at-282-billion-by-end-of-2018/88904205
