Flavors and Fragrances Market Size, Share, Analysis & Forecast to 2032
The global flavors and fragrances market size was valued at USD 27.50 billion in 2023 and is projected to grow from USD 28.72 billion in 2024 to USD 42.27 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period.n
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Flavors & Fragrances Industry Share, Size, Trends and Forecast 2032 The global flavors and fragrances market size was valued at USD 27.50 billion in 2023 and is projected to grow from USD 28.72 billion in 2024 to USD 42.27 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period. The market is anticipated to grow during the projected period due to rapid development in the pharmaceuticals and cosmetics sector. Fortune Business Insights publishes this information in a report titled, "Flavors and Fragrances Market, 2025-2032". Get a Free Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/flavors-and-fragrances- market-102329 Segments: Flavors Segment to Lead the Market Due to its Unique Properties By type, the market is bifurcated into flavors and fragrances. The flavors segment is further categorized into natural and synthetic. The fragrances segment is also divided into natural and synthetic. Food & Beverage Sub-Segment to Dominate the Market Based on type (cross application), the market is segregated into flavors used in the food & beverage sector for beverages, bakery, confectionery, dairy, and others. These flavors are also used in pharmaceuticals and other sectors. The fragrance segment is further classified into fine fragrances, cosmetics & personal care, home & floor care, and others. Geographically, the market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. List of Key Players Profiled in the Flavors and Fragrances Market Report: Givaudan (Switzerland) International Flavors and Fragrances (IFF) (U.S.) Symrise AG (Germany) Robertet Group (France) Kerry Group plc (Ireland) Sensient Technologies (U.S.) Firmenich SA (Switzerland) Takasago International Corp (Japan) Hasegawa Co., Ltd. (Japan) Mane (France)
Archer Daniel Midland Company (U.S.) Solvay S.A. (Belgium) BASF (Germany) Report Coverage: The report sheds light on the current market state and recent developments in the market. The impact of COVID-19 pandemic on the market growth is highlighted in this report. Furthermore, the report sheds light on drivers and restraints affecting the market development and expansion during the forecast period. Also, a list of key market players is given, along with the regional insights on segmented market areas. Drivers & Restraints: Rising Development in Pharmaceuticals & Cosmetics Sector to Propel Growth The market is expected to witness significant growth during the forecast period due to the developing regional and novel flavors and fragrances. Also, consumers' changing food preferences and tastes and the adoption of ready-to-eat food are anticipated to fuel the regional market growth. Furthermore, growth in the cosmetics and pharmaceuticals sectors is expected to drive market growth. However, constantly changing prices in various products hamper market growth. Regional Insights: Europe Holds Dominant Market Share Due to Rising Demand from Food & Beverage Sector Europe dominates the global flavors and fragrances market share due to the rising product demand from food & beverage manufacturers. The regional market stood at USD 8.16 billion in 2021. Asia Pacific holds the second-largest global market share owing to the increasing demand for flavors and fragrances from various end-use industries. Competitive Landscape: New Product Launch Allows Key Market Players to Enhance their Product Portfolio The key market players acquire various companies operating in the industry to improve their business performance. Also, rising investments in the adoption of technological advancements and R&D activities allow the leading market players to introduce new product ranges to the global market and increase business profitability. Key Industry Development: March 2022: Symrise submitted a binding offer to acquire R. Romani - Soci t Fran aise d Aromatiques (SFA Romani) and Neroli Invest DL (Groupe Neroli). Both companies are based in the Grasse area in France. With these transactions, Symrise intends to reinforce its fine fragrance presence in southern France, strengthen its competitiveness in creating fragrance compositions, and broaden its presence in key countries in Europe, Africa, and the Middle East.
Inquire Before Buying This Research Report: https://www.fortunebusinessinsights.com/enquiry/queries/flavors-and-fragrances-market-102329 About Us: Fortune Business Insights delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. Address: Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner Mahalunge Road, Baner, Pune-411045, Maharashtra, India. Phone: US: +1 424 253 0390 UK: +44 2071 939123 APAC: +91 744 740 1245 Email: sales@fortunebusinessinsights.com LinkedIn Facebook Twitter
