Flavors and Fragrances Market Size Worth USD 28.65 Billion By 2025: Hexa Research

FELTON, California, September 5, 2018 /PRNewswire/ --

The global flavors and fragrances market is anticipated to reach USD 28.65 billion by 2025. It is anticipated to witness a growth of 4.5% from 2014 to 2025. Shifting consumer preference towards organic ingredients in food and personal care products is projected to drive growth over the approaching years. In addition, growing applications in food and beverages and cosmetics industries is projected to drive demand for flavors and fragrances.

Major end-use industries such as cosmetics and personal care are also increasingly utilizing flavors and fragrances to improve sensory appeal and product value. Personal care product sector has recovered quickly from recent economic downturn compared to other industrial segments. Hence, it is expected to witness prospective growth over the forecast period.

Busy lifestyle of consumers in developing as well as developed countries is projected to augment demand for processed food and beverages. This factor is expected to propel demand for flavors in near future. Furthermore, growing number of retail stores, new product launches, and economical prices of personal care products and convenience food are expected to be highly influential factors contributing to growth of the global market.

Flavors and fragrances offer long-lasting sensory impressions, often determined when finely applied to medical products, food and beverage, and other substances. These products enhance overall appeal and aesthetic value of consumer goods. Flavors and fragrances are mostly prepared using volatile chemicals and essential oils to deliver a specific flavor or to enhance existing flavors. Food flavoring can be categorized into natural and synthetic. Increasing consumer preference for fresh and natural products has contributed to lucrative segment growth.

Browse full research report with TOC on "Global Flavors And Fragrances Market Size and Forecast, By Product (Natural flavors & fragrances, Aroma Chemicals), By Application (Flavors, Fragrances) And Trend Analysis, 2014 - 2025" at: https://www.hexaresearch.com/research-report/flavors-and-fragrances-industry

Positive outlook, predominantly in Middle East and Brazil, Russia, India, China, and South Africa (BRICS), is one of the significant drivers for the global flavors and fragrances market. Rising domestic consumption of foods and beverages in the light of expanding retail network, new product launches, and population growth is expected to encourage drive demand from BRICS. In addition, regulatory support aimed at facilitating Foreign Direct Investments (FDI) at domestic level, on account of political changes, particularly in India and China, is projected to increase regional manufacturing output. This factor is poised to amplify growth of the food and beverage sector.

Manufacturers are continuously focusing on combining their production and distribution channels for better market approachability. Many players manufacture variety of products and are vertically integrated to cater to various applications. Manufacturing and labeling are controlled by various regulations, laws, and guidelines issued by authorities such as the U.S. Department of Agriculture (USDA), Food & Drug Administration (FDA), Health Canada, World Health Organization (WHO), and European Food Safety Authority (EFSA). Growing demand for personal care products and processed food, especially in emerging economies is expected to positively influence the market for flavors and fragrances.

Key companies operating in the global flavors and fragrances market are Biolandes SAS; Young Living Essential Oils; dōTERRA International; Falcon Essential Oils; Universal Oleoresins; Synthite Industries Limited; Ungerer & Company, Inc.; Akay; Indo World; BASF SE; Flavex Naturextrakte GmbH; Vigon International, Inc.; Symrise AG; Firmenich SA; Elevance Renewable Sciences, Inc.; Ozone Naturals; Alpha Aromatics; and Manohar Botanical Extracts Pvt. Ltd.

Companies listed in this category are large producers who are also leaders in terms of R&D investments. These investments equip them to meet any prospective changes in future. The players are undertaking mergers and acquisitions and are investing in new product developments and launches to maintain their position in the competitive business environment. For instance, In March 2015, Biolandes completed acquisition of France-based Fytosan that has expertise in organic aromatic and medicinal plant extracts.

Browse more reports by Hexa Research: 

• U.S. Savory Snacks Market - U.S. savory snacks market size was valued at USD 33.26 billion in 2017. Changing taste preferences of younger generation is expected to contribute to market growth. Manufacturing companies are trying to edge over their contemporaries through innovation as well as catering to needs of health conscious customers with introduction of gluten-free, low-calorie, and low-fat products.
• U.S. Organic Food Market - U.S. organic food market size was valued at USD 43.7 billion in 2017 and is expected to grow over the forecast period owing to rising demand from health-conscious consumers. Moreover, increasing cultivation of organic produce through sustainable farming practices is expected to contribute to market growth.
• U.S. Frozen Food Market - Frozen food market in the U.S. is expected to grow in near future owing to increasing disposable income, changing lifestyle and time crunch for daily house chores such as cooking. Increasing women in corporate world, growing number of small families and single living people are the factors expected to drive the frozen food market in the U.S.
• Canada Alcoholic Drinks Market - Canada alcoholic drinks market was estimated to account for a value of USD 26.80 billion in 2017. The Canada alcoholic beverages Industry has witnessed steady growth over the past few years as the country has a matured market.

Hexa Research has segmented the Flavors & Fragrances Market report based on product, application and region: 

Segmentation by Product 

    • Natural Flavors & Fragrances

        • Essential Oils

            • Orange

            • Corn Mint

            • Eucalyptus

            • Pepper Mint

            • Lemon

        • Oleoresins

            • Paprika

            • Black Pepper

            • Turmeric

            • Ginger

        • Others

    • Aroma Chemicals

        • Esters-based

        • Alcohol-based

        • Aldehyde

        • Phenol

        • Others

Segmentation by Application 

    • Flavors

    • Fragrances

Segmentation by Region 

    • North America

        • U.S.

    • Europe

        • Germany

        • U.K.

        • France

    • Asia Pacific

        • China

        • India

        • Japan

    • Middle East & AfricaSaudi Arabia

    • Central & South America

        • Brazil

Key Players Analyzed 

    • Biolandes SAS

    • Young Living Essential Oils

    • dōTERRA International

    • Falcon Essential Oils

    • Universal Oleoresins

    • Synthite Industries Limited

    • Ungerer & Company

    • Akay

    • Indo World

    • BASF SE

    • Flavex Naturextrakte GmbH

    • Vigon International, Inc.

    • Symrise AG

    • Firmenich SA

    • Elevance Renewable Sciences, Inc.

    • Ozone Naturals

    • Alpha Aromatics

    • Manohar Botanical Extracts Pvt. Ltd.

About Hexa Research 

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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SOURCE Hexa Research