World Flavors & Fragrances

World Flavors & Fragrances

Demand for flavors and fragrances worldwide will expand to more than $26 billion in 2020, following average yearly gains of nearly four percent. Over 60 percent of total demand will come from developed countries, while growing disposable incomes and increasing popularity of convenience foods will help drive demand in the Asia/Pacific region to world-leading levels.

Growth of “all natural” key market trend
The growing global popularity of “all natural” products will help drive demand for essential oils and natural extracts. This trend will also have a positive impact on the other flavor and fragrance markets, as natural ingredients tend to be more expensive.

China driving growth in the Asia/Pacific region
Demand for flavors and fragrances in China is expected to expand eight percent yearly through 2019. Growth will be driven by growing consumer spending on convenience foods and luxury items such as perfumes and cosmetics.

Market maturity to restrain growth in developed economies
The maturity of the food, beverages, and cleaner’s markets in the developed regions of North America and Western Europe will restrain growth. However, the use of higher quality ingredients will support moderate gains.

Scope of the Report
This report covers the scope, size, and growth of the $22 billion world flavors and fragrances market, including key trends spurred by changing global demographics and health concerns. For six world regions and 20 major countries, the study includes historical product demand for 2005, 2010, and 2015; product demand forecasts for 2020, and 2025. Regions covered in this report include:
North America
Western Europe
Asia/Pacific
Central & South America
Eastern Europe
Africa/Mideast

The study also includes profiles and market share for key industry companies, including Agilex Flavors, BASF, Bell Flavors and Fragrances, CPL Aromas, David Michael, Firmenich, Givaudan, International Flavors and Fragrances, Mane, Symrise, and Takasago International.