Flavors and Fragrances Market Report by Technavio predicts USD 10.44 Bn growth -- Driven by an increasing number of new product launches

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Sep 25, 2022, 21:45 ET

NEW YORK, Sept. 25, 2022 /PRNewswire/ -- The flavors and fragrances market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the flavors and fragrances market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.

Technavio has announced its latest market research report titled Global Flavors and Fragrances Market 2022-2026

The report on the flavors and fragrances market by Technavio expects the market size to increase at a CAGR of 5.64% and register an incremental growth of USD 10.44 billion between 2021 and 2026. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: the threat of counterfeit products and stringent regulations and guidelines.

According to Technavio, the growth of the market is primarily driven by the increasing number of new product launches.

Successful new product launches help vendors increase their revenue and aid in expanding their market share. New product launches also provide multiple options to buyers, thus allowing vendors to increase their consumer base. Such benefits are encouraging vendors in the market to focus on new product launches. All these factors are driving the growth of the market in focus.

"Rising demand for personal care and food flavoring products and increase in disposable income will further accelerate the growth of the market", says an analyst at Technavio.

The global flavors and fragrances market is fragmented, with the presence of numerous players at the regional level. Key players, including Givaudan SA, Symrise AG, Firmenich SA, McCormick and Company Inc., and Takasago International Corp., have established a strong presence in the market through their established brands.

The market is expected to grow during the forecast period, owing to the increasing demand for fragrances and flavors in the food and beverage and cosmetic industries, rapid urbanization, and new product launches. Vendors are investing in organic and inorganic growth strategies, such as the expansion of production plants and the acquisition of local companies, to increase their productivity and strengthen their market positions. Furthermore, consumers across the world have become conscious of the quality of consumable products. Hence, the competition in the global flavors and fragrances market is likely to shift from pricing to quality and brand reputation. Therefore, it is difficult for new market players to enter the global flavors and fragrances market.

The report breaks down the market into the following segments:

Functionality: fragrances and flavors
Geography: APAC, North America, Europe, South America, MEA

Based on the functionality, the fragrances segment is expected to create more revenue in the market. The segment is driven by the rising demand from end-users such as manufacturers of fine fragrances, cosmetics and toiletries, soaps and detergents, household cleaners, and air fresheners. Also, the growing awareness about hygiene and an increase in per capita income are driving the demand for household cleaners and air fresheners globally.

In terms of region, APAC will emerge as the dominant region, occupying 41% of the global market share. The regional market is driven by the presence of a huge consumer base, rising working women population, growing demand for international cuisines, and penetration of key vendors.

The complete report on the global flavors and fragrances market offers detailed insights on the potential business segments and regions to invest in over the forecast period. Before making the purchase, we recommend reading our Sample PDF Report.

The flavors and fragrances market report answers questions such as:

Is the market structure fragmented or concentrated?
What was the market size in 2021 and the forecast for the flavors and fragrances market through 2026?
Which are the best product segment areas to invest in over the forecast period?
What is the market share of dominant and strong vendors in the flavors and fragrances market?
What are the inhibiting factors and the impact of COVID-19 on the flavors and fragrances market growth?
What are the latest trends and regulatory frameworks in the flavors and fragrances market?

Got more queries? Speak to our analyst now

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Flavors and Fragrances Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.64%
Market growth 2022-2026	USD 10.44 billion
Market structure	Fragmented
YoY growth (%)	5.1
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 44%
Key consumer countries	US, China, Japan, India, Germany, and Italy
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Archer Daniels Midland Co., BASF SE, Custom Flavors, DuPont de Nemours Inc., Firmenich SA, Flavorchem Corp, Givaudan SA, H Roberts Group Pte Ltd, Huabao International Holdings Ltd, Kerry Group Plc, Keva Flavours Pvt Ltd, McCormick and Co. Inc., Robertet SA, Sensient Technologies Corp., Solvay SA, Symrise AG, Synergy Flavors, Takasago International Corp, and The MANE Group
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments

Exhibit 25: Chart on Type - Market share 2021-2026 (%)
Exhibit 26: Data Table on Type - Market share 2021-2026 (%)

5.2 Comparison by Type

Exhibit 27: Chart on Comparison by Type
Exhibit 28: Data Table on Comparison by Type

5.3 Fragrances - Market size and forecast 2021-2026

Exhibit 29: Chart on Fragrances - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Data Table on Fragrances - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Chart on Fragrances - Year-over-year growth 2021-2026 (%)
Exhibit 32: Data Table on Fragrances - Year-over-year growth 2021-2026 (%)

5.4 Flavors - Market size and forecast 2021-2026

Exhibit 33: Chart on Flavors - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Data Table on Flavors - Market size and forecast 2021-2026 ($ million)
Exhibit 35: Chart on Flavors - Year-over-year growth 2021-2026 (%)
Exhibit 36: Data Table on Flavors - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Type

Exhibit 37: Market opportunity by Type ($ million)

6 Market Segmentation by Product

6.1 Market segments

Exhibit 38: Chart on Product - Market share 2021-2026 (%)
Exhibit 39: Data Table on Product - Market share 2021-2026 (%)

6.2 Comparison by Product

Exhibit 40: Chart on Comparison by Product
Exhibit 41: Data Table on Comparison by Product

6.3 Formulated flavors and fragrances - Market size and forecast 2021-2026

Exhibit 42: Chart on Formulated flavors and fragrances - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Data Table on Formulated flavors and fragrances - Market size and forecast 2021-2026 ($ million)
Exhibit 44: Chart on Formulated flavors and fragrances - Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on Formulated flavors and fragrances - Year-over-year growth 2021-2026 (%)

6.4 Aroma chemicals - Market size and forecast 2021-2026

Exhibit 46: Chart on Aroma chemicals - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on Aroma chemicals - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on Aroma chemicals - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on Aroma chemicals - Year-over-year growth 2021-2026 (%)

6.5 Essential oils - Market size and forecast 2021-2026

Exhibit 50: Chart on Essential oils - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on Essential oils - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on Essential oils - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Essential oils - Year-over-year growth 2021-2026 (%)

6.6 Market opportunity by Product

Exhibit 54: Market opportunity by Product ($ million)

7 Customer Landscape

7.1 Customer landscape overview

Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

Exhibit 56: Chart on Market share by geography 2021-2026 (%)
Exhibit 57: Data Table on Market share by geography 2021-2026 (%)

8.2 Geographic comparison

Exhibit 58: Chart on Geographic comparison
Exhibit 59: Data Table on Geographic comparison

8.3 APAC - Market size and forecast 2021-2026

Exhibit 60: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 61: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 62: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 63: Data Table on APAC - Year-over-year growth 2021-2026 (%)

8.4 North America - Market size and forecast 2021-2026

Exhibit 64: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 65: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 66: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 67: Data Table on North America - Year-over-year growth 2021-2026 (%)

8.5 Europe - Market size and forecast 2021-2026

Exhibit 68: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 69: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 70: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 71: Data Table on Europe - Year-over-year growth 2021-2026 (%)

8.6 South America - Market size and forecast 2021-2026

Exhibit 72: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 73: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 74: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 75: Data Table on South America - Year-over-year growth 2021-2026 (%)

8.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 76: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 77: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 78: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 79: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

8.8 US - Market size and forecast 2021-2026

Exhibit 80: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 81: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 82: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 83: Data Table on US - Year-over-year growth 2021-2026 (%)

8.9 China - Market size and forecast 2021-2026

Exhibit 84: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 85: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 86: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 87: Data Table on China - Year-over-year growth 2021-2026 (%)

8.10 Japan - Market size and forecast 2021-2026

Exhibit 88: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 89: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 90: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 91: Data Table on Japan - Year-over-year growth 2021-2026 (%)

8.11 Germany - Market size and forecast 2021-2026

Exhibit 92: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 93: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 94: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 95: Data Table on Germany - Year-over-year growth 2021-2026 (%)

8.12 Italy - Market size and forecast 2021-2026

Exhibit 96: Chart on Italy - Market size and forecast 2021-2026 ($ million)
Exhibit 97: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
Exhibit 98: Chart on Italy - Year-over-year growth 2021-2026 (%)
Exhibit 99: Data Table on Italy - Year-over-year growth 2021-2026 (%)

8.13 India - Market size and forecast 2021-2026

Exhibit 100: Chart on India - Market size and forecast 2021-2026 ($ million)
Exhibit 101: Data Table on India - Market size and forecast 2021-2026 ($ million)
Exhibit 102: Chart on India - Year-over-year growth 2021-2026 (%)
Exhibit 103: Data Table on India - Year-over-year growth 2021-2026 (%)

8.14 Market opportunity by geography

Exhibit 104: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 105: Impact of drivers and challenges in 2021 and 2026

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 107: Overview on factors of disruption

10.4 Industry risks

Exhibit 108: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 109: Vendors covered

11.2 Market positioning of vendors

Exhibit 110: Matrix on vendor position and classification

11.3 DuPont de Nemours Inc.

Exhibit 111: DuPont de Nemours Inc. - Overview
Exhibit 112: DuPont de Nemours Inc. - Business segments
Exhibit 113: DuPont de Nemours Inc. - Key offerings
Exhibit 114: DuPont de Nemours Inc. - Segment focus

11.4 Firmenich SA

Exhibit 115: Firmenich SA - Overview
Exhibit 116: Firmenich SA - Product / Service
Exhibit 117: Firmenich SA - Key offerings

11.5 Givaudan SA

Exhibit 118: Givaudan SA - Overview
Exhibit 119: Givaudan SA - Business segments
Exhibit 120: Givaudan SA - Key offerings
Exhibit 121: Givaudan SA - Segment focus

11.6 Kerry Group Plc

Exhibit 122: Kerry Group Plc - Overview
Exhibit 123: Kerry Group Plc - Business segments
Exhibit 124: Kerry Group Plc - Key news
Exhibit 125: Kerry Group Plc - Key offerings
Exhibit 126: Kerry Group Plc - Segment focus

11.7 McCormick and Co. Inc.

Exhibit 127: McCormick and Co. Inc. - Overview
Exhibit 128: McCormick and Co. Inc. - Business segments
Exhibit 129: McCormick and Co. Inc. - Key offerings
Exhibit 130: McCormick and Co. Inc. - Segment focus

11.8 Sensient Technologies Corp.

Exhibit 131: Sensient Technologies Corp. - Overview
Exhibit 132: Sensient Technologies Corp. - Business segments
Exhibit 133: Sensient Technologies Corp. - Key offerings
Exhibit 134: Sensient Technologies Corp. - Segment focus

11.9 Solvay SA

Exhibit 135: Solvay SA - Overview
Exhibit 136: Solvay SA - Business segments
Exhibit 137: Solvay SA - Key news
Exhibit 138: Solvay SA - Key offerings
Exhibit 139: Solvay SA - Segment focus

11.10 Symrise AG

Exhibit 140: Symrise AG - Overview
Exhibit 141: Symrise AG - Business segments
Exhibit 142: Symrise AG - Key offerings
Exhibit 143: Symrise AG - Segment focus

11.11 Takasago International Corp

Exhibit 144: Takasago International Corp - Overview
Exhibit 145: Takasago International Corp - Business segments
Exhibit 146: Takasago International Corp - Key news
Exhibit 147: Takasago International Corp - Key offerings
Exhibit 148: Takasago International Corp - Segment focus

11.12 The MANE Group

Exhibit 149: The MANE Group - Overview
Exhibit 150: The MANE Group - Product / Service
Exhibit 151: The MANE Group - Key offerings

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 152: Inclusions checklist
Exhibit 153: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 154: Currency conversion rates for US$

12.4 Research methodology

Exhibit 155: Research methodology
Exhibit 156: Validation techniques employed for market sizing
Exhibit 157: Information sources

12.5 List of abbreviations

Exhibit 158: List of abbreviations

rate of industrialization: Several products from the global diversified chemicals market are used in various industries, including automotive, polymer modification, chemicals, and consumer goods. The growth of the global diversified chemicals market is highly influenced by the growing rate of industrialization across the world, especially in emerging economies.

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