1 / 3
KUNTAL.ORG
2 / 3
KUNTAL.ORG
3 / 3
KUNTAL.ORG

Flavors and Fragrances Market to See High Demand in Upcoming Year by 2026 Fortune Business Insights™

The global flavors and fragrances market size is prognosticated to reach USD 38.56 billion by 2026, exhibiting a CAGR of 4.8%by 2026. This is attributable to the rapid growth of the food and beverage industry that propelled the demand for new flavors. This information is published in an upcoming report by Fortune Business Insights™ titled,”Flavors and Fragrances Market Size, Share & Industry Analysis, By Type (Flavors {Natural and Synthetic} and Fragrances {Natural and Synthetic}) By Application (Food & Beverage, Cosmetics & Personal Care, Pharmaceutical, Home & Floor Care, Fine Fragrances, and others) and Regional Forecasts, 2019-2026.”

The flavors and fragrances market size value stood at USD 26.50 billion in 2018 and is prognosticated to reach USD 38.56 billion by 2026, exhibiting a CAGR of 4.8%by 2026.

Report Highlights

 

  • A 360-degree overview of the flavors and fragrances market
  • Factors boosting, repelling and challenging the market
  • Detailed segmentation of the market based on factors such as type, application, and geography.
  • The report also lists the names ofkey players and strategies adopted by them to compete for the top position in the market
  • Other flavors and fragrances market trends and opportunities
  • Notable industry developments and interesting insights into the market.

 

Drivers –

Increasing Demand from Cosmetic Industry to Drive Market

 

The prevailing trend of ready-to-eatand convenience food products have propelled companies to introduce innovative flavors into the food and beverage industry. The increasing demand for innovative products from the food and beverage industry is a major factor boosting the flavors and fragrances market growth.In addition to this, there is a rise in demand for scented soaps, detergents, toiletries, and cosmetics, andperfumes, owing to the rise in modernization and the adoption of higher living standards among people. Therefore, the increasing demand from the cosmetic industry will also add impetus to the overall market in the forecast period.

 

On the other side, synthetic fragrances are gaining popularity on account of their strong aroma and long-lasting properties. Analysts at Fortune Business Insights™ say, “There is a high preference for organic ingredients in the personal care sector. This is further propelling the demand for natural fragrances.” Therefore, the demand for synthetic and organic fragrances are anticipated to expand the flavors and fragrances market in the forecast period.

 

There is a rise in demand for flavors from the pharmaceutical industry as well. This is owing to the fact that flavors overpower the bitter taste of medicines and make it more edible, thus transmitting a beneficial therapeutic effect. Flavors are utilized as inactive ingredients in pharmaceutical products such as chewable gums and tablets, suspensions, syrups, and others. Therefore, the increasing demand for flavors from the pharmaceutical industry will help the market to grow remarkably in the forecast duration.

 

INFORMATON SOURCE:

https://www.fortunebusinessinsights.com/flavors-and-fragrances-market-102329

 

Regional Analysis –

Asia Pacific to Emerge as Most Lucrative Market Owing to Increasing Demand from Cosmetic Industry

 

Europe is holding a significant position in the market on account of the increasing demand for encapsulated flavors and fragrances in liquor-based drinks as well as in cosmetic products in the region. Additionally, the market inNorth America has reached the maturity phase while this region earned USD 6.41 billion in 2018. Furthermore, Asia Pacific is likely to emerge as the most lucrative market owing to the rise in demand for flavors and fragrances from both the food and cosmetic industries.

 

Competitive Landscape –

Merger and Acquisition is Major Strategy Adopted by Players

 

Currently, four key companies, namely Firmenich SA, Symrise AG, International Flavors and Fragrances (IFF), and Givaudan, are collectively holding 50% of the global flavors and fragrances market share.Companies are adopting merger and acquisition strategies to gain a competitive edge in the market. For instance, Firmenich has started the construction of a new plant in China since 2019 and Givaudan acquired more than five companies since 2018.

 

Notable Flavors and Fragrances MarketManufacturers:

 

  • International Flavors and Fragrances (IFF)
  • Robertet Group
  • Sensient Technologies
  • Takasago International Corp
  • Mane
  • Solvay S.A.
  • Givaudan
  • Symrise AG
  • Kerry Group plc
  • Firmenich SA
  • T. Hasegawa Co., Ltd.
  • Archer Daniels Midland Company
  • Others

 

Get Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/flavors-and-fragrances-market-102329

Advertisement