According to a new market report published by Lucintel, the future of the global flavor and fragrance market looks good with opportunities in flavor and fragrance products, such as dairy, savory/snacks, fine fragrance, cosmetic and toiletries, and household and air care. The global flavor and fragrance market is forecast to grow at a CAGR of 4.2% from 2017 to 2022. The major drivers of growth for this market are increasing disposable income among middle class, changing consumer preferences, and growing awareness among customers to buy products that contain natural ingredients.
Browse 78 market data tables and 83 figures spread through 173 pages and in-depth TOC on Global Flavor and Fragrance market http://www.lucintel.com/flavor_and_fragrance_market_2017.aspx
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In this market, fine fragrance, soap and detergents, cosmetics and toiletries, household and air care are the major applications of fragrance. Dairy, beverage, savory/ snacks, and confectionery/bakery are the major applications of flavor. Lucintel predicts that the demand for fragrance is likely to experience the highest growth in the forecast period, supported by growing demand in end use applications.
On the basis of its comprehensive research, Lucintel forecasts that dairy, fine fragrances, and household and air care likely to experience the highest growth in the forecast period. Within the global flavor market, the beverage application is likely to remain the largest segment during the forecast period, while soap & detergents is likely to be the largest segment for the fragrance market.
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Asia Pacific is expected to become the largest market and is also expected to witness above average growth over the forecast period due to strengthening economies, growing urbanization, changing lifestyle, and a rise in per capita income.
For business expansion, the report suggests innovation and new product development to produce ready-made active ingredients that provide solutions for skin care applications. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost products for customers.
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Emerging trends, which have a direct impact on the dynamics of the industry, include increased use of biotic ingredients and business expansion by major players in emerging markets. Givaudan, Firmenich, IFF, Symrise AG, and Takasago are among the major suppliers of the flavor and fragrance market.
The study includes a forecast for the global flavor and fragrance by product type, application, raw material, country, and region as follows:
Flavor and fragrance market by product Type (Value ($B) shipment analysis from 2011-2022):
- Flavor
- Fragrance
Flavor Market by application (Value ($B) shipment analysis from 2011-2022):
- Dairy
- Savory/Snacks
- Beverage
- Confectionery/ Bakery
- Others
Flavor Market by application (Value ($B) shipment analysis from 2011-2022):
- Fine fragrance
- Cosmetic and toiletry
- Soap and detergents
- House hold and air care
- Others
Flavor and fragrance market by raw material (Value ($B) shipment analysis from 2011-2022)
- Aroma Chemical
- Essential Oils
Regional Break down for Flavor and Fragrance Market (Value ($B) shipment analysis from 2011-2022)
- North America
- Europe
- Asia Pacific
- Rest of the World
Flavor and fragrance market by Country(Value ($B) shipment analysis from 2011-2022):
- US
- Western Europe
- Eastern Europe
- Central Europe
- China
- Japan
- India
- Middle East
- South America
- Africa
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This 173-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/flavor_and_fragrance_market_2017.aspx or helpdesk@lucintel.com
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This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth trends in the global flavor and fragrance market by product (flavor and fragrance), application (dairy, savory/snacks, confectionery/bakery, beverage, fine fragrance, cosmetic and toiletry, soaps and detergents, household and air care, and others), raw material (aroma chemical and essential oils), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2.Which segments will grow at a faster pace and why?
Q.3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are the emerging trends in this market and the reasons behind them?
Q.7.What are some of the changing demands of customers in the market?
Q.8.What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10.What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q. 11.What M & A activity has occurred in the last 5 years and what has its impact been on the industry?
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