Flavors & Fragrances Market - Synthetic, Natural, Beverages, Bakery, Savory & Snacks, Dairy Products, Confectionery, Consumer Products, Fine Fragrances - Global Forecast to 2029


Dublin, Sept. 05, 2024 (GLOBE NEWSWIRE) -- The "Flavors & Fragrances Market by Ingredient Type (Synthetic, Natural), End-use Industry (Beverages, Bakery, Savory & Snacks, Dairy Products, Confectionery, Consumer Products, Fine Fragrances), and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

In terms of value, the flavors & fragrances market is estimated to grow from USD 35.3 billion in 2024 to USD 42.3 billion by 2029, at a CAGR of 3.7%

This report segments the market for flavors & fragrances based on ingredient type, end-use industry, and region and provides estimations of value (USD Million) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, and key strategies, associated with the market for flavors & fragrances.

Natural flavors and fragrances are becoming a growing trend due to their sensory and experiential attributes. Customers who are cautious of artificial additives and complicated chemical names are drawn to natural flavors and fragrances since they tend to have a clearer and more transparent ingredient list. Consumers gravitate towards natural solutions because of their need for authenticity and high-quality sensory experiences.

Europe was the second-largest region in the flavors & fragrances market. Europe served as a pioneer when it comes to the creation and enhancement of flavors and fragrances. Ancient perfumery and culinary arts traditions abound in the region, with France and Italy being recognized for their centuries-long mastery in these art forms. Europe is recognized worldwide as a leader in the production and enjoyment of complex, premium flavors and fragrances owing to its rich legacy. Market needs for customization and regional specialties are still on the rise due to which companies do not cease to develop new solutions that would appeal to the target markets across Europe.

Synthetic ingredient segment was the largest ingredient type of flavors & fragrances market, in terms of value, in 2023.

Synthetic ingredients are the most used ingredient type in the flavors & fragrances market, in terms of value, in 2023. Synthetic ingredients' adaptability and flexibility for innovation add to their dominance in the flavors & fragrances market. Numerous flavors and fragrances that might not be readily obtained from natural sources can be created via synthetic chemistry. In a competitive market, having the freedom to explore and develop novel sensory experiences is a major advantage.

Dairy products segment is projected to witness the highest CAGR in the flavors market, in terms of value, during the forecast period.

The dairy products segment is projected to witness the highest CAGR in the flavors & market, in terms of value, during the forecast period. There is a growing demand for new flavors in dairy products due to product diversity and innovation. As more people choose vegan or lactose-free diets, plant-based dairy substitutes like almond, soy, and oat milk have become increasingly popular. To increase their attractiveness and set them apart from conventional dairy products, these products need unique flavors.

Fine fragrances segment was the second largest end-use industry of fragrances market, in terms of value, in 2023.

Fine fragrances segment stands as the second-largest end-use industry in the fragrances market. The growing inclination of consumers towards experiencing luxury and customized indulgence is contributing to the attraction of high-quality fragrances. Sensual pleasure, emotional fulfilment, and a feeling of personal identity are becoming increasingly important to modern customers, especially those in wealthier groups. Fine fragrances satisfy these needs by providing a sensual experience that goes beyond the ordinary, enabling consumers to showcase their uniqueness and elegance.

Competitive Landscape

The key players profiled in the report include Givaudan SA (Switzerland), International Flavors & Fragrances Inc. (US), DSM-Firmenich AG (Switzerland), Symrise AG (Germany), ADM (US), Takasago International Corporation (Japan), Sensient Technologies Corporation (US), MANE (France), Robertet Group (France), T. Hasegawa Co., Ltd. (Japan), and Bell Flavors & Fragrances (US).

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on flavors & fragrances offered by top players in the global market
  • Analysis of key drivers: (Increasing demand for natural flavors & fragrances, Increasing consumer preference towards convenience foods, Rising demand for natural products, Rising demand for consumer products), restraints (Compliance with quality and regulatory standards, Fluctuating raw material prices), opportunities (Digitalization of the retail industry, Innovation in end-use industries), and challenges (Limited progression in value chain among developing economies, Lack of cold chain infrastructure in developing economies) influencing the growth of flavors & fragrances market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the flavors & fragrances market
  • Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for flavors & fragrances across regions.
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global flavors & fragrances market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the flavors & fragrances market

Key Attributes:

Report AttributeDetails
No. of Pages246
Forecast Period2024 - 2029
Estimated Market Value (USD) in 2024$35.3 Billion
Forecasted Market Value (USD) by 2029$42.3 Billion
Compound Annual Growth Rate3.7%
Regions CoveredGlobal


Companies Featured

  • Givaudan SA
  • International Flavors & Fragrances Inc.
  • DSM-Firmenich AG
  • Symrise AG
  • Takasago International Corporation
  • Sensient Technologies Corporation
  • Adm
  • Mane
  • Robertet Group
  • T. Hasegawa Co. Ltd.
  • Bell Flavors & Fragrances
  • Kerry Group
  • Ogawa & Co. Ltd.
  • Huabao International Holdings Ltd.
  • Biolandes Sas
  • Flavex Naturextrakte GmbH
  • Synthite Industries Ltd.
  • Ungerer & Company
  • Akay Natural Ingredients Private Limited
  • Solvay SA
  • Ozone Naturals
  • BASF SE
  • Aromatech Sas
  • Bedoukian Research Inc.
  • Alpha Aromatics

For more information about this report visit https://www.researchandmarkets.com/r/qlv2bk

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Attachment

 
Global Flavors & Fragrances Market

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