Global Natural Flavours and Fragrances Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Natural Flavours and Fragrances Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Natural Flavours and Fragrances refer to spices or essences which are taken from nature and keep the original aroma characteristics of animals and plants. Usually, the aromatic organs of aromatic plants and glandular secretions of aromatic animals existing in nature are used as raw materials, which are processed and extracted by physical and biochemical methods such as crushing, fermentation, distillation, squeezing, cold grinding, extraction and adsorption. It can be divided into animal natural Flavours and Fragrances and plant natural Flavours and Fragrances.

Market Overview:

The latest research study on the global Natural Flavours and Fragrances market finds that the global Natural Flavours and Fragrances market reached a value of USD 9129.19 million in 2022. It’s expected that the market will achieve USD 12568.0 million by 2028, exhibiting a CAGR of 5.47% during the forecast period.

Diversification of downstream demand is driving the development of the industry

Natural flavours and fragrances as additives are mainly used in food, daily necessities, cosmetics, pharmaceutical and other industries. In recent years, the rapid growth of downstream industry segments has brought development momentum to the natural flavours and fragrances industry. Taking the food consumption market as an example, in recent years, although the overall growth rate of the food consumption market has slowed down, it is still in a growing stage, the world population continues to rise, and sub-sectors of the food industry, such as dairy products and snack foods, are still growing rapidly. Bring power to the development of the industry.

Natural spices are more popular in the market

Because of its safety and reliability, the continuous development and use of natural flavours and fragrances has become an inevitable trend of global industry development, and is widely used in high-grade cosmetics, food, medicine and other industries. Natural spices can better meet people's demands for natural products. The depletion of chemical raw materials leads people to pay more attention to natural and recyclable sources of natural animal and plant raw materials.

Product technology is constantly updated, which requires higher innovation ability of enterprises

The natural flavours and fragrances industry has higher requirements for product R&D and innovation ability. Only by keeping the product innovation ability and unique fragrance can make a fragrance that is different from other enterprises, be more competitive in the fierce competition of the whole industry, and attract better customers. Every year, most enterprises invest a fixed proportion of their profits in new product research and development centers, introduce high-quality talents, and establish more advanced laboratories.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

Givaudan SA is one of the major players operating in the Natural Flavours and Fragrances market, holding a share of 20.61% in 2023.

Givaudan SA

Givaudan SA is a global leader in Flavours and health, fragrance and beauty industries, with a history of more than 250 years and a long history in odor and taste innovation.

IFF

IFF flavor & specialty team creates high-quality, cost-effective ingredients that meet global regulatory standards, as well as IFF customers’ exacting application needs. IFF maintain an outstanding global supply chain and logistics system that helps IFF deliver on the purchasing demands of our local and global customers, offering flexibility, quality, and exceptional service.

Segmentation Overview:

As for product types, the Plant Based segment held the largest market share in 2022.

Plant Based

There are more than 3600 kinds of flavours plants found in nature, and about 400 kinds of flavours plants have been effectively utilized. The roots, stems, branches, skins, leaves, flowers, fruits or resins of plants can be fragrant. For example, jasmine and lavender are taken from the flowers of plants; Cardamom, fennel and chicken tongue are taken from the fruit part; Gan Song and Aucklandia lappa are taken from roots, while sandalwood and Dalbergia odorifera are taken from wood. Borneol and frankincense are taken from resin.

Animal Based

Animal flavours and fragrances are mostly secretions or excretions in animals. There are about a dozen kinds, among which there are three commonly used ones: musk, civet, castoreum.

Application Overview:

By application, the Food & Beverage segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Natural Flavours and Fragrances market covered in Chapter 3:

Axxence Aromatic GmbH
Aurochemicals
IFF
Lesaffre
Firmenich
Nielsen-Massey Vanilla
Comax Flavors
Givaudan SA
Synergy Flavors
Apple Flavor and Fragrance
Symrise
Xiamen Caogenlan Industry
Fujian Zhiyuan Biochemical
Kunshan Asia Aroma Corp
Xiamen Oamic Biotech
Berje
Shank's Extracts
Advanced Biotech
Solvay
De Monchy Aromatics
Mane SA
Moellhausen S.p.A

In Chapter 4 and Chapter 14.2, on the basis of types, the Natural Flavours and Fragrances market from 2018 to 2029 is primarily split into:

Plant Based
Animal Based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Natural Flavours and Fragrances market from 2018 to 2029 covers:

Food & Beverage
Pharmaceutical
Cosmetics
Home & Health Care
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)