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Flavors & Fragrances Market was valued at USD 20.55 Billion in 2016 and is projected to reach USD 24.13 Billion by 2022, at a CAGR of 2.67% during the forecast period.
The base year considered for the study is 2016, and the forecast period is from 2017 to 2022.Download PDF Brochure @ http://bit.ly/30nOkuqBased on ingredients, the flavors & fragrances market has been segmented into synthetic and natural.
The synthetic ingredients segment is projected to lead the flavors & fragrances market during the forecast period due to the low cost and growing usage in end-use products such as beverages, packaged food products, home care products, and personal care products.Asia Pacific is expected to be the largest market for flavors & fragrances during the forecast periodThe flavors & fragrances market has been studied for five regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America.
The Asia Pacific is projected to be the largest flavors & fragrances market during the forecast period due to the growing population and rapid urbanization.
The demand for flavors for beverages is mainly due to the growing demand for soft drinks, energy drinks, and other drinks.
In addition, aspirational purchase of global drink brands is also driving the demand for flavors for beverages.
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