Flavors & Fragrances Industry Data Book - Natural Flavors & Fragrances and Aroma Chemicals Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
The global Flavors & Fragrances Industry generated over USD 23.35 billion in 2021 and is expected to grow at a CAGR of 4.3% over the forecast period.
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 Growth & Trends
The global natural flavors and fragrances market size is expected to reach USD 15.83 billion by 2030, registering a CAGR of 4.6% during the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the increasing awareness about the adverse effects caused by artificial as well as synthetic products used in the cosmetics and food & beverages industry. In addition, the availability of natural products as an alternative is propelling the market growth. Natural flavors & fragrances are now widely accepted by industries like food & beverage, cosmetic & personal care, and pharmaceuticals. The growing population has been increasing the consumption of food & beverages, cosmetic & personal care products, and pharmaceuticals and is likely to further escalate the consumption in the near future. The global industry is anticipated to grow at a steady CAGR over the forecast period due to the presence of major players that are utilizing natural flavors & fragrances in their products.
Companies, such as BASF SE, Blue Pacific Flavours, Inc., BIOLANDES SAS, and Symrise AG, are some major manufacturers. Governments tend to be more flexible in the use of natural products over synthetic counterparts and provide elasticity in their use and consumption for various purposes. The COVID-19 pandemic has resulted in many changes in the industry, such as the collapsed supply chain system and restrictions on transportation. Many large- and small-scale organizations had to shut down their production for several months during the pandemic. This factor slowed down the industry growth and limited production & supply. Furthermore, the outbreak led to the shutdown of hotels, restaurants, retail stores, and eateries, thereby lowering the consumption of natural flavors & fragrances in the food & beverage industry.
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
Aroma Chemicals Market Growth & Trends
The global aroma chemicals market size is expected to reach USD 7.72 billion by 2030, as per the new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 3.3% from 2023 to 2030. The growth is majorly driven by natural aroma chemicals in developed economies of North America and Europe. The aromatherapy industry has grown tremendously owing to the high diversity in consumer preferences for natural aromatic products such as essential oils, fragrances, and others for the treatment of several diseases. Changing lifestyles and its consequences such as depression and stress have resulted in a growing demand for aromatherapy directly fueling the growth in demand for aroma chemicals.
The terpenes & terpenoids segment emerged as the largest chemical segment in 2021 owing to its increasing demand from the rubber as well as paints & coatings industry. Aroma chemicals are getting essential for the formulation of additives for health & personal care, food & beverage products, thus forming a stable market. Further, regarding the evolving consumer demands and overall industry scenario, the manufacturers are inclined towards formulating natural aroma chemicals offering flavors close to synthetic flavoring agents to gain a competitive edge in the industry.
The key industry players are mostly integrated across the value chain from manufacturing to distribution to maintain the quality of raw materials. Owing to this, the key players are gaining a competitive advantage regarding cost benefits with increased profit margins. New market entrants are looking for opportunities to enter the global aroma chemicals market; wherein new entrants attempting to establish themselves have to contend with top multinationals, such as Takasago International Corporation, Symrise, Robertet, MANE, Firmenich SA, and Givaudan.
Competitive Landscape
Key players operating in the Flavors & Fragrances industry are:
- Synthite Industries Limited
- Ungerer & Company
- Akay Flavours & Aromatics Pvt. Ltd.
- Indo World
- BASF SE
- Vigon International, Inc.
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
No comments:
Post a Comment