USA jobs

Beyond Scent and Taste: Emerging Trends in Flavors & Fragrances Sector 2023-2030

No comments

Flavors & Fragrances Industry Data Book | Forecast 2030

Flavors & Fragrances Industry Data Book – Natural Flavors & Fragrances and Aroma Chemicals Market

Grand View Research’s flavors & fragrances industry databook is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.


Access the Global Flavors & Fragrances Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

 

Natural Flavors And Fragrances Market Report Highlights

  • The essential oils segment is expected to witness the fastest growth rate from 2022 to 2030 owing to the increasing consumer preference for natural & organic products from various end-use industries like food & beverages and cosmetics

 

  • The extraction process segment will have the fastest CAGR from 2022 to 2030 since it ensures hydrolysis of water-sensitive compounds & ensures superior quality of products as it operates efficiently under higher temperatures and requires a shorter extraction time

 

  • The flavors application segment is expected to witness the fastest CAGR over the forecast period due to wide product usage in the global food & beverages industry

 

  • Asia Pacific is expected to witness the fastest growth rate of 6.8%, owing to large demand from countries such as India, and China which are considered pioneers and some of the largest exporters of some precious oils and extracts

 

  • The competition in the industry is high due to the presence of several large-scale manufacturers, such as BASF SE and MANE, which are engaged in the production of naturally-derived fragrances & flavors

 

Order your copy of the Free Sample of “Flavors & Fragrances Industry Data Book – Natural Flavors & Fragrances and Aroma Chemicals Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030”, Data Book published by Grand View Research

 

Essential Oils Market Report Highlights

 

  • Cleaning & home witnessed the fastest growth rate of 7.7%, due to the presence of antifungal and antibacterial properties of essential oils

 

  • Black pepper witnessed one of the fastest growth rate of 8% on the account of its wide use in food & beverage, spa & relaxation, and medical sectors

 

  • Direct selling channel witnessed the fastest growth rate of 8.4%, as consumers have the need to smell and feel the oils in person

 

Other Post You May Be Interested In

  • Europe witnessed the fastest growth rate of 8% as compared to other regions, due to strong presence of food & beverage industry in the region, coupled with high disposable income and high standards of living

 

  • The global product market is highly competitive on the account of the presence of multiple manufacturing companies operating in the market

 

 

Go through the table of content of Flavors & Fragrances Industry Data Book to get a better understanding of the Coverage & Scope of the study

 

 

Oleoresin Market Report Highlights

 

  • Asia Pacific region is expected to witness the fastest growth rate globally with a CAGR of 7.8% in terms of revenue for the forecast period. This is attributable to high demand from the food, beverage, healthcare, and pharmaceuticals industry.

 

  • Black pepper product segment appeared to have the largest contribution to the global revenue share contributing more than 30%. This high share is attributable to multiple benefits of black pepper and its extensive end-use industry including healthcare, food, and beverage.

 

  • Cardamom seed spices product segment is anticipated to exhibit a rapid growth rate with a CAGR of 8.1% in terms of revenue from 2022 to 2030. This is owed to wide applications of cardamom in the food and beverage industries for preparations of delicacies worldwide.

 

  • Pharmaceutical application segment witnessed the fastest growth rate of 7.2% in terms of revenue from 2022 to 2030, owing to its utility in the sector because of its strong medical values and therapeutic properties.

 

  • The market is highly competitive in nature with the presence of major players. The companies have used various strategies like product diversification, capacity expansion, investing in R&D activities, mergers, and acquisitions to gain a competitive edge over others

 

Aroma Chemicals Market Report Highlights

 

  • Natural source segment is estimated to witness a CAGR of 3.8% over the forecast period, due to a shift in trend for natural products, especially from the flavors industry

 

  • Flavors is projected to be the fastest growing segment over the forecast period due to the growing consumption of flavors across several end-use applications such as beverages, convenience food, bakery food, and dairy

 

  • The terpenes & terpenoids segment is anticipated to witness the fastest CAGR of 4.5% due to its natural availability as well as its anti-carcinogenic, antiseptic, and antimicrobial effects

 

  • Asia Pacific constituted a major revenue share in 2021 and is also anticipated to continue its dominance over the forecast period, due to high domestic consumption in countries such as India and China

 

  • MANE, Takasago International Corporation, and Robertet are among the prominent industry participants with a broad product portfolio and high segmental share. Key players holding less than 1% of the market share each are characterized as niche players which have limited regional operations or have low to medium aroma chemical product offerings

 

 

Competitive Insights

 

Though the COVID 19 pandemic led multiple chemical manufacturers to witness a decline in sale of their products, The flavors & fragrance sector was less affected by the same. The major players in the business, namely, Givaudan and Symrise, witnessed an increase in sales while the International Flavors & Fragrances saw a slight decline in the revenue.

 

The sales for Givaudan rose by 4% to reach USD 3.5 billion in the first half of 2020. The sales for consumer products from its fragrance division increased by 11.8% during the same time period on account of COVID 19 related bulk buying of household goods. On the contrary, the sales for its fine fragrances division dropped by 16.4% due to close down of the retail channels.

 

Symrise witnessed an increase of 3.4% in its sales during the first half of 2020 and 4.6% in the second quarter. The sales of its fragrance products for consumer and oral care products were strong during the period, while sales of its sun protection products witnessed a decline due to drop in tourism. The sales of its flavor business were stable during the year on account of rise in the trend of cooking at home.

 

The market players across the flavors & fragrances industry were able to maintain good momentum and cope with the challenges associated with operations and supply chain disruptions. Significant growth was witnessed during 2021 on account of recovery in the demand for fine fragrances and active beauty products. Similarly, the sales for flavors witness a considerable growth from beverage, savory, snacks, and health & wellness categories due to ease in the restrictions related to out-of-home eating.

 

Check out more Industry Data Books, published by Grand View Research

 

About Grand View Research

 

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/sector-reports-list

Follow Us: LinkedIn | Twitter

SHARE NOW

Leave a Reply

Your email address will not be published. Required fields are marked *