Reportlinker Adds US Flavors & Fragrances Market

NEW YORK, Feb. 24, 2011 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

US Flavors & Fragrances Market

http://www.reportlinker.com/p0100133/US-Flavors--Fragrances-Market.html

US demand to reach $5.5 billion by 2014

US demand for flavors and fragrances is forecast to rise 3.0 percent annually through 2014. As health concerns among Americans continue to rise, consumers will increasingly seek out products that make them feel healthy, young and attractive. This will drive growth for natural products and other goods that incorporate beneficial ingredients, such as vitamins, minerals and antioxidants. Greater use of nutraceuticals, combined with trends favoring the reduction of sodium, as well as sugar and fat, in processed foods, will support demand for flavors, as these products can mask offtastes and improve the flavor profile of reformulated foods and beverages. Advances will also be fueled by heightened consumer interest in more complex, exotic and authentic flavors and fragrances, as well as the increasing utilization of these products as marketing tools and product differentiators.

Cosmetics and toiletries, air care products among fastest growing markets

Although the large food market will continue to offer the best opportunities for growth overall, more rapid gains are expected for the cosmetic and toiletry and environmental fragrance goods markets through 2014. Within the cosmetic and toiletry segment, skin care products are projected to provide particularly strong advances, driven by the expansion of the skin care industry itself. In addition, as the large baby boomer population approaches age 65, gains will be fueled by greater demand for high-value skin care products designed specifically for mature skin. Such cosmetics and toiletries typically require high fragrance loadings to mask the unpleasant odors associated with certain active ingredients. Gains will further benefit from the continued introduction of lotions and other skin care products that are often marketed on the basis of scent, rather than functionality. However, overall advances will be limited by competition from fragrance-free products. Environmental fragrance goods represent a small but growing market. As consumers spend more time at home following the recent recession, they are increasingly interested in enhancing their living spaces through the use of air care products. Greater willingness among consumers to experiment with new products and scents will spur the development of innovations, such as products that not only impart pleasing scents, but also eliminate odors or disinfect. On the other hand, fragrance demand will be negatively impacted by fragrance bans in schools, churches and various workplaces. Furthermore, concerns are rising about potentially harmful chemicals, such as phthalates, in certain air care products.

Natural ingredients trend to benefit essential oils

Essential oils and natural extracts are projected to achieve the most rapid gains through 2014. Demand is expected to remain favorable as consumers increasingly prefer natural products. This trend will have a particularly positive impact on essential oils used in food, beverages, cosmetics and toiletries, and aromatherapy products, where manufacturers are seeking to create cleaner labels. In addition, the relatively high cost of essential oils will drive market value gains over the period. However, these natural products will continue to face competition from lower-cost synthetic ingredients as manufacturers attempt to reduce expenditures, and flavor and fragrance makers utilize technological advances to improve the quality of synthetic alternatives.

Study coverage

This new industry study presents historical demand data (1999, 2004, 2009) plus forecasts for 2014 and 2019 by product and market. The study also considers market environment factors, evaluates company market share and profiles 34 industry players.

To order this report:

US Flavors & Fragrances Market

More  Market Research Report

Check our  Company Profile, SWOT and Revenue Analysis!

SOURCE Reportlinker