Flavors and Fragrances Market Size, Share & Industry Forecast 2032
According to Fortune Business Insights 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 fo
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Flavors and Fragrances Market Size, Trends, Opportunities & Forecast 2032 According to Fortune Business Insights 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". Flavors and fragrances are made from compounds like esters, ketones, and aldehydes to enhance a product s scent or taste. They are derived from natural or synthetic sources, including essential oils and plant- or animal-based materials, through a detailed preparation process. Get a Free Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/flavors-and-fragrances- market-102329 Segmentations: 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) Market Trends: The growing food & beverage industry is driving innovation in new flavors to meet evolving consumer tastes and preferences, especially with the rising demand for ready-to-eat products. For example, Ben & Jerry s recently introduced Netflix & Chill d, a vegan peanut butter ice cream. Asia Pacific is emerging as the fastest-growing region for consumer spending on dining out, supported by factors such as the rise of food outlets in malls and the growth of online food delivery platforms. Additionally, companies are increasingly focusing on developing new flavors inspired by traditional cuisines. 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. 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
