According to a new market report published by
Lucintel, the future of the global flavor and fragrance market looks good with
opportunities in flavor and fragrance products, such as dairy, savory/snacks,
fine fragrance, cosmetic and toiletries, and household and air care. The global
flavor and fragrance market is forecast to grow at a CAGR of 4.2% from 2017 to
2022. The major drivers of growth for this market are increasing disposable
income among middle class, changing consumer preferences, and growing awareness
among customers to buy products that contain natural ingredients.
In this market, fine
fragrance, soap and detergents, cosmetics and toiletries, household and air
care are the major applications of fragrance. Dairy, beverage, savory/ snacks,
and confectionery/bakery are the major applications of flavor. 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.
On the basis of its
comprehensive research, Lucintel forecasts that dairy, fine fragrances, and household
and air care likely to experience the highest growth in the forecast period. Within
the global flavor market, the beverage application is likely to remain the
largest segment during the forecast period, while soap & detergents is
likely to be the largest segment for the fragrance market.
Asia Pacific is expected to become the largest
market and is also expected to witness above average growth over the forecast
period due to strengthening economies, growing urbanization, changing
lifestyle, and a rise in per capita income.
For business expansion, the report suggests
innovation and new product development to produce ready-made active ingredients
that provide solutions for skin care applications. The
report further suggests the development of partnerships with customers to
create win-win situations and the development of low-cost products for
customers.
Emerging trends, which have
a direct impact on the dynamics of the industry, include increased use of
biotic ingredients and business expansion by major players in emerging markets. Givaudan, Firmenich, IFF, Symrise AG, and
Takasago are among the major suppliers of the flavor and fragrance market.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities in the
global flavor and fragrance market by product, application, raw material, country, and region, and has
come up with a comprehensive research report, entitled “Growth
Opportunities in the Global Flavor and Fragrance Market 2017-2022: Trends,
Forecast, and Opportunity Analysis.”
The Lucintel report serves as a springboard for growth strategy, as it provides
a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global
flavor and fragrance by product type, application, raw material, country, and
region as follows:
By Product Type (Value ($B)
shipment analysis from 2011-2022):
- Flavor
- Fragrance
Flavor Market by
Application (Value ($B) shipment analysis from 2011-2022):
- Dairy
- Savory/Snacks
- Beverage
- Confectionery/ Bakery
- Others
Flavor Market by
Application (Value ($B) shipment analysis from 2011-2022):
- Fine fragrance
- Cosmetic and toiletry
- Soap and detergents
- House hold and air care
- Others
By Raw material (Value ($B) shipment analysis
from 2011-2022):
- Aroma Chemical
- Essential Oils
Regional Break down for Flavor and Fragrance
Market (Value ($B) shipment analysis from 2011-2022):
- North America
- Europe
- Asia Pacific
- Rest of the World
By Country (Value ($B) shipment analysis from 2011-2022):
- US
- Western Europe
- Eastern Europe
- Central Europe
- China
- Japan
- India
- Middle East
- South America
- Africa
This
173-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel
offerings include Consumer
Goods Report, Consumer
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services for executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This report answers following 11 key
questions:
Q.
1. What are some of the most promising, high-growth trends in the global flavor
and fragrance market by product (flavor and fragrance), application (dairy,
savory/snacks, confectionery/bakery, beverage, fine fragrance, cosmetic and
toiletry, soaps and detergents, household and air care, and others), raw
material (aroma chemical and essential oils), and region (North America,
Europe, Asia Pacific, and the Rest of the World)?
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, challenges
and business risks in this market?
Q.5.What
are the business risks and competitive threats in this market?
Q.6.What
are the emerging trends in this market and the reasons behind them?
Q.7.What
are some of the 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 key
players pursuing for business growth?
Q.10.What
are some of the competing products in this market and how big of a threat do
they pose for loss of market share by material or product substitution?
Q.
11.What M & A activity has occurred in the last 5 years and what has its
impact been on the industry?
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