LONDON, April 20, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the flavor and fragrance market looks good with opportunities in the dairy, soap & detergents, fine fragrance and cosmetic & toiletries industries. The global flavor and fragrance market is forecast to grow at a CAGR of 3.6% from 2015 to 2020. The major drivers of growth for this market are growth of end use applications, growing urbanization and changing lifestyle.
In this market, aroma chemicals and essential oils are the major raw materials used for making flavor and fragrance compounds. Lucintel predicts that the demand for fragrance is likely to experience the highest growth in the forecast period, supported by growing demand in end use applications. Major end use application for flavor are beverage, savory, confectionery, and dairy for flavor, while for fragrance it is soap & detergents, fine fragrance, cosmetic & toiletries, and household & air care. On the basis of comprehensive research, Lucintel forecasts that diary, savory, fine fragrance, cosmetics & toiletries, and soaps & detergents industries are expected to show above average growth during the forecast period.
Within flavor and fragrance market, beverage application is likely to remain as the largest segment for flavor during the forecast period, while soap & detergents is for fragrance market.
North America is expected to remain the largest market due to growth in end use applications. Asia Pacific and the Rest of the World are expected to witness significant growth over the forecast period because of increase in disposable income and changing lifestyle.
For market expansion, the report suggests innovation and new product development to enhance the performance of flavor and fragrance. The report further suggests the development of partnerships with customers to create win-win situations and development of better product for the end user.
Emerging trends, which have a direct impact on the dynamics of the industry, include increased use of biotic ingredients and capacity expansion by major players in emerging markets. Givandan, Firmenich, IFF, Symrise, and Takasago are among the major suppliers of the flavor and fragrance. Some companies are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global flavor and fragrance market by product type, applications, and region, and has come up with a comprehensive research report, "Global Flavor and Fragrance Market 2015-2020: Trends, Forecast and Opportunity Analysis." The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of the global flavor and fragrance market through 2020, segmented by product type, application, and region as follows:
By product type [Value ($B) shipment analysis for 2009 – 2020]:
Flavor market by application [Value ($B) shipment analysis for 2009 – 2020]:
Fragrance market by application [Value ($B) shipment analysis for 2009 – 2020]:
- Soap and Detergents
- Cosmetic and Toiletries
- Fine Fragrance
- Household and Air care
By region [Value ($B) shipment analysis for 2009 – 2020]:
- North America
- Asia Pacific
- Rest of World
This report answers following 11 key questions:
Q.1.How big the opportunities for global flavor and fragrance market by product type, end use application, and region?
Q.2.Which segments will grow at a faster pace and why?
Q.3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5.What are the business risks and threats of this market?
Q.6.What are emerging trends in this market and reasons behind it?
Q.7.What are some changing demands of customers in the market?
Q.8.What are the new developments in the market? Which companies are leading these developments?
Q.9.Who are the major players in this market? What strategic initiatives are taken by key players for business growth?
Q.10.How is the competitive rivalry and threat of substitution in this market?
Q.11.How many M & A activities happened during last 1- 2 years and what are their impacts?
Some of the features of "Growth Opportunities for the Global Flavors and Fragrances Market 2015-2020: Trends, Forecast, and Opportunity Analysis" include:
- Market size estimates: Global flavor and fragrance market size estimation in terms of value ($B) shipment.
- Trend and forecast analysis: Global flavor and fragrance market trend (2009-2014) and forecast (2015-2020) by region and segments.
- Segmentation analysis: Global flavor market size by various applications such as dairy, beverage, savory, confectionery, others and fragrance market size by various application segments such as fine fragrance, cosmetics and toiletries, soaps and detergents, household and air care, and others in terms of value shipment
- Regional analysis: Global flavor and fragrance market breakdown by key regions such as North America, Europe, Asia Pacific, and Rest of the World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions.
- Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of global flavor and fragrance suppliers.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
Download the full report: https://www.reportbuyer.com/product/3509646/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-flavor-and-fragrance-market-2015-2020-trends-forecast-and-opportunity-analysis-october-2015-300254897.html