Global Flavors and Fragrances Market 2015 is expected to reach $44.6 billion by 2022
The Global Flavors and Fragrances Market 2015 is estimated to be $27.4 billion in 2014 and is expected to reach $44.6 billion by 2022 growing at a CAGR of 6.3% during forecast period 2014 to 2022. The market is driven by companies that manufacture food and beverages, toiletries, perfumes, cosmetics and household products. Emerging Middle Class in Developing Countries acts as the growth factor of the market. Whereas factors such as huge raw material prices acts as restrains for growth of the market. Increasing demand for natural flavors is the key trend of the market. High disposable income of consumer, increase in lifestyle adding to the boom of this market.
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Flavors and Fragrances Market is segmented by technology, by application, by product and by geography. Depending on the various technologies, market is categorized into Cold Extraction Technology, Conventional Technologies, Supercritical Fluid Extraction, Enzymatic Routes and Flavor Encapsulation. Based on product, market is classified as Flavor Blends, Fragrance Blendsv and Aroma Chemicals. Based on applications, market is segregated as Beverages, Confectionary and Bakery Products, Dairy Products, Oral Care, Cosmetics and Toiletries, Soap & Detergent, Household and Other Products. By geography,the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America and Europe were the largest regions in terms of consumption of flavor and fragrance.
The key players in the Flavors and Fragrances Market include Agilex Flavors & Fragrances Inc., Art & Fragrance Sa, Bell Flavors & Fragrances Inc., Comax Manufacturing Corp., International Flavors & Fragrances Inc., Interparfums Inc., Jacques Bogart Sa, Robertet Sa, Sensient Technologies Corp. and Symrise Ag.
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