7-May-2019: The global flavors and
fragrances market size is anticipated to reach USD 28.64 billion by 2025,
according to a new report by Grand View Research, Inc. It is projected to
expand at a CAGR of 4.7% during the forecast period. Flavors and fragrances
deliver long-lasting sensory impressions, when applied through medical
products, beverage, food, and other substances. These products enrich the
overall aesthetic value and appeal of consumer goods.
Flavors and fragrances are
generally manufactured using essential oils and volatile chemicals to enhance
existing flavors or to provide a precise flavor. The products are primarily
categorized into natural and synthetic. Rising demand for natural and fresh
products has added to exponential growth of the market.
Increasing demand for
ready-to-eat and convenience foods, health and wellness foods coupled with
technological advancements are predicted to trigger the flavors and fragrances
market growth. Increasing consumer disposable income along with rapid
industrialization in developing countries such as India and China is estimated
to fuel the food flavors market.
Owing to the massive demand for
natural products, forests have been chopped down to develop minute quantity of
oil. Numerous arable lands have also been transformed into monoculture farming
lands to nurture a single crop or plant gain a particular oil. This, in turn,
has led to restricted availability of raw materials for natural products.
Flavor and fragrance producers
operate by collaborating with artists, filmmakers, writers, musicians, and
scientists to knock into artistic minds to reveal perfumes to new as well as
constantly developing creative approaches and territories. Manufacturers also
build creative teams which comprise fragrance perfumers, flavorists, and
evaluators.
In depth research report on Flavors and
Fragrances Market
Further
key findings from the report suggest:
· Aroma
chemicals is projected to hold the largest share of flavors and fragrances
market with more than 70.0% in terms of revenue by 2025
· Increasing
cost of R&D for fragrance compounds is expected to support the demand for
aroma chemicals over the forecasts period
· Essential
oils are anticipated to grow as the fastest as well as largest emerging natural
product segment
· Demand
for orange essential oil was valued at USD 1.64 billion in 2018
· Fragrances
application segment is predicted to lead the market and is projected to
register a CAGR of 5.0% from 2019 to 2025
· Asia
Pacific is expected to register the fastest CAGR on account of availability of
raw materials and increasing demand
Grand View Research has
segmented the global flavors and fragrances market on the basis of product,
application and region:
Flavors
and Fragrances Product Outlook (Revenue, USD Million, 2014 - 2025)
· Natural
o
Essential Oils
§ Orange
· Limonene
· Myrcene
· Others
§ Corn
Mint
· Menthol
· Menthone
· Others
§ Eucalyptus
· Eucalyptol
· Limonene
· Others
§ Pepper
Mint
· Menthol
· Menthone
· Others
§ Lemon
· Pinene
· Limonene
· Camphene
o
Oleoresins
§ Paprika
· Piperine
· Others
§ Black
Pepper
· Piperine
· Others
§ Turmeric
· Curcumin
· Others
· Ginger
· Gingerol
· Others
o
Others
· Aroma
Chemicals
o
Esters
· Ethyl
acetate
· Benzyl
acetate
· Ethyl
benzoate
· Methyl
decanoate
· Others
o
Alcohol
· Lauryl
alcohol
· Menthol
· Others
o
Aldehyde
· Benzaldehyde
· Vanillin
· Others
· Phenol
· Ethylvanillin
· Others
o
Others
Flavors
and Fragrances Application Outlook (Revenue, USD Million, 2014 - 2025)
· Flavors
· Confectionary
· Convenience
Foods
· Bakery
Food
· Dairy
Food
· Beverages
· Others
· Fragrances
· Fine
fragrances
· Cosmetics
and Toiletries
· Soaps
& Detergents
· Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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