According to a new market report published by
Stratistics MRC the Global
Flavors and Fragrances market accounted for $29.12
billion in 2015 and is expected to reach $44.60 billion by 2022 growing at a
Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period. Emerging middle class population in
developing countries acts as the growth factor for the market. Moreover,
increasing demand for natural flavors is the key trend of the market coupled
with high disposable income of consumer and rapid change in lifestyle. In
addition, increasing consciousness of people towards beauty and food &
beverages is creating opportunities in the dairy, soap & detergents, fine
fragrance and cosmetic & toiletries industries.
Global Flavors and
Fragrances market is segmented by product into flavor blends, fragrance blends
and aroma chemicals. Among Products, aroma chemicals commanded the market. The
demand for aroma chemicals is from companies that manufacture food, soaps and
detergents, cosmetics, toiletries, and household products. Another factor
driving the market is an increase in the demand for aroma chemicals from
various industries and rapidly changing consumer lifestyles. There is an
increase in demand for products based on natural ingredients because of growing
awareness of the harmful effects of chemical additives. Both the sense of taste
and smell are affected by flavors whereas fragrance affects only smell.
Aroma chemicals are
an important group of organic molecules used as ingredients in flavor and
fragrance compositions. Aroma chemicals consist of natural, nature- identical
and artificial molecules. There are 3500 different molecules which use in
production of flavor and fragrance compositions, of which synthetic ingredients
play a major part as components due to their current availability and
relatively lower cost as compared with natural molecules.
Browse the full report at “Flavors and Fragrances Market Outlook”
Global Flavors and
Fragrances market is segmented by technology into cold extraction technology, conventional technologies,
enzymatic routes, flavor encapsulation and supercritical fluid extraction. In
Technology, flavor encapsulation acquired the largest market share. Encapsulation is the technique by which one material or
a mixture of materials is coated with or entrapped within another material or
system. Encapsulation technology is now well developed and accepted within the
pharmaceutical, chemical, cosmetic, foods and printing industries. The
technology has a growing array of applications, and has been pulled into the
portfolios of most major flavor houses that are active in the U.S. market.
Applications of
encapsulation includes encapsulation of food preservatives, flavors, fragrance,
nutrients, probiotics, encapsulation in snack foods to enhance the health
benefits of an otherwise unhealthy food category, and nano-encapsulation in
beverages, among others. Benefits of encapsulation are this technology may
provide barriers between sensitive bioactive materials and the environment, and
thus, to allow taste and aroma differentiation, mask bad tasting or smelling,
stabilize food ingredients or increase their bioavailability.
Global Flavors and Fragrances market is segmented by
application into beverages,
confectionary and bakery products, cosmetics and toiletries, dairy
products, household and other products, oral care and soap &
detergent. Amongst Applications,
cosmetics and toiletries held the largest market share. The terms fragrance and aroma are used primarily by cosmetic
industry to describe a pleasant odor, and are sometimes used to refer to
perfumes. About 98% of the essential oils produced worldwide are produced for
the cosmetic/perfume industries. In these industries, the therapeutic effect of
the oil is not a consideration and so, the oils are produced in a manner is
that is totally unsuited for oils to be uses in aromatherapy.
This report also covers trends driving each segment and
offers analysis by geography, with key regions such as North America, Europe, Asia
Pacific and Rest of the World. Europe has registered highest market share in
the global market. Rising popularity of condensed-salt and condensed-sugar
prepared foods, which need advanced flavor loadings to uphold taste, will
improve demand for flavor blends. The major driver of growth within urbanized
countries will be keen customer awareness in natural and organic products,
demand for flavors will be supported by government campaigns for foods with
lesser sodium, calorie, and fat content that require more flavorings to make
these edible products which will create demand for essential oils and natural
extracts. Eastern Europe is expected to illustrate growth in line with the
global average, but still considerably quicker than developed areas.
Some of the key players in the flavors and fragrances
market include Firmenich SA, Givaudan SA, Symrise AG, Agilex Flavors &
Fragrances, Inc., International Flavors & Fragrances, Inc., Bedoukian
Research, Inc., Aromatech SAS, BASF SE, Bell Flavors & Fragrances Inc.,
Sensient Technologies Corp., Takasago International Corp., Royal DSM NV,
Cargill Flavor Systems, ConAgra Foods Incorporated and Kerry Group plc.
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Fragrances Market Outlook
Contact:
James Lamb
Corporate Sales Specialist
United States
Direct: +1-301-202-5929
Email: [email protected]