Trends and Innovations in the Flavors & Fragrances Sector: A 2023-2030 Outlook
Flavors
& Fragrances Industry | 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.
Flavors & Fragrances Industry Data
Book Coverage Snapshot
Markets Covered
·
Flavors & Fragrances Industry USD 23.35
billion in 2021, 4.3% CAGR (2022- 2030)
·
Natural Flavors & Fragrances Market Size USD
8,510.4 million in 2022, 4.6% CAGR (2023- 2030)
·
Aroma Chemicals Market Size USD 15,639.1 million
in 2022, 3.3% CAGR (2023- 2030)
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 6.3% 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.
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 4.1% from 2022 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.
Go through the table of content of Flavors &
Fragrances Industry Data Book to
get a better understanding of the Coverage & Scope of the study
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.
Check out more Industry Data Books,
published by Grand View Research
About
Grand View Research
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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.
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View Research, Inc.
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