Flavors and Fragrances Market is Forecasted to Top US$ 35,914.3 million at 4.7% CAGR by 2027

Increase in demand for ready-to-eat meals & fast food and introduction of new flavors fuel the growth of the global flavors and fragrances market

PORTLAND, OR, US, August 31, 2023/EINPresswire.com/ -- The global flavors and fragrance market size was valued at $28,193.1 million in 2019, and is projected to reach $35,914.3 million by 2027, registering a CAGR of 4.7% from 2021 to 2027. Personal care is a significant application segment, owing to increase in demand for deodorants, perfumes, soaps, creams, talcum powders, and hair oils. Rise in demand for car and room fresheners and increase in popularity of aromatherapy are also expected to drive growth of the market for fragrance ingredients.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐚𝐦𝐩𝐥𝐞 𝐰𝐢𝐭𝐡 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: https://www.alliedmarketresearch.com/request-sample/5622

Increase in demand for ready-to-eat meals & fast food is a key driver for the food flavors industry across the globe. Moreover, innovative technologies, introduction of new flavors, and heavy inflow of investment in R&D activities are the other factors that supplement the growth of the food flavors market. There is an upcoming trend of using natural flavors owing to rise in health awareness. Furthermore, high demand for flavors across European countries to produce commercialized clean label or green food products that are free of additives and other harmful chemicals has propelled the growth of the natural flavors market.

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

The key players profiled in the flavors and fragrance industry report includes Firmenich SA, Frutarom Industries Ltd., Givaudan International SA, Huabao International Holdings Limited, Kerry Group, PLC, Robertet SA, S H Kelkar and Company Limited, Sensient Technologies Corporation, Symrise AG and International Flavors &Fragrances, Inc.

Based on type, the fragrances segment contributed to more than three-fifths of the global flavors and fragrances market share in 2019, and is expected to rule the roost by the end of 2027. The same segment would also register the fastest CAGR of 5.0% throughout the forecast period, owing to increase in demand for deodorants, perfumes, soaps, creams, talcum powders, and hair oils.

𝐋𝐈𝐌𝐈𝐓𝐄𝐃-𝐓𝐈𝐌𝐄 𝐎𝐅𝐅𝐄𝐑 - 𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝟏𝟓% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/checkout-final/fa7bfb699f3b3333b1efd9cd9d59b7e3

Over the next five years, demand for natural flavors and fragranceis expected to grow strongly. Customers prefer to use natural fragrance cosmetic& personal care products that are less harmful and have minimum side effects. Further, manufacturers are anticipated to use natural fragrance ingredients in their skin care and hair care products to satisfy consumer needs. Many big players in the market such as L’Oréal, Unilever, Color Bar, and Avon are planning to invest big budgets in an effort to promote natural aspects of their flavors and fragrance products.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

By type, the flavors segment dominated the global market in 2019, and is expected to retain its dominance throughout theFlavors and Fragrances Market forecast period.

By nature, the syntheticsegment led the global Flavors and Fragrances Market demand in 2019, and is expected to retain its dominance throughout the forecast period.

By application, the food & beveragessegment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.

By region, Asia-Pacific accounted for the highest flavors and fragrancemarket share in 2019, and is expected to grow at a CAGR of 6.6%.

𝐒𝐩𝐞𝐚𝐤 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/5622

Based on region, Asia-Pacific, followed by North America, held the major share in 2019, garnering around one-third of the global flavors and fragrances market. The market across the same region would also exhibit the fastest CAGR of 6.6% during the forecast period. Rise in purchasing power of the Asia-Pacific population, changes in their eating habits, increase in urbanization, lack of regulatory framework, wide customer base, growth in stress among individuals, and preference for tasty food products drive the market growth

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐅𝐨𝐨𝐝 𝐚𝐧𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

Food Ingredients Market - https://www.alliedmarketresearch.com/food-ingredients-market-A11028

Organic Dairy Food and Drinks Market - https://www.alliedmarketresearch.com/organic-dairy-food-and-drinks-market

Organic Spices Market - https://www.alliedmarketresearch.com/organic-spice-market

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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