Flavour and Fragrance Market Size, Trends, Scope and Growth Analysis to 2030

According to the Market Statsville Group (MSG), the global flavour and fragrance market size is expected to grow from USD 29.3 billion in 2021 to USD 43.9 billion by 2030, at a CAGR of 5.2% from 2022 to 2030. Personal care is a significant application segment, owing to the increase in demand for deodorants, soaps, creams, powders, perfumes, and hair oils. The rise in demand for car and room fresheners and the increase in popularity of aromatherapy are anticipated to drive the growth of the fragrance ingredients market.

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The hospitality sector is also experiencing a growth in demand for fragrances to create a pleasant atmosphere. Fragrances are widely approved for industrial use, such as ambiance fragrances for consumer durables and personal care accessories, which was an unexplored category previously. In addition, owing to growth in disposable income, more local consumers, especially young consumers, opt for quality goods. In the wake of the global pandemic, a greater focus on hygiene products has driven the market for new and creative fragrances used in products such as hand washes, sanitizers, and floor cleaners. Moreover, in 2021, the synthetic segment had the largest market share based on the nature in the global flavour and fragrance market.

The global food flavours industry is being driven by an increase in demand for ready-to-eat meals and fast food. Other factors that contribute to the growth of flavour products include innovative technologies, the introduction of new flavours, and a large inflow of investment in R&D activities. Natural flavours are becoming more popular as people become more health-conscious. Furthermore, the flavors and fragrance market has grown due to a high demand for flavours in European countries to produce commercialized clean label or green food products that are free of additives and other harmful chemicals.

Scope of the Global Flavour and Fragrance Market
The study categorizes the flavour and fragrance market based on type, nature, application, and region.

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By Type Outlook (Sales, USD Million, 2017-2030)
Flavors
Fragrance

By Nature Outlook (Sales, USD Million, 2017-2030)

Natural
Synthetic

By Application Outlook (Sales, USD Million, 2017-2030)

Natural
Synthetic

By Region Outlook (Sales, USD Million, 2017-2030)

North America

US
Canada
Mexico

Europe

Germany
Italy
France
UK
Spain
Poland
Russia
Slovenia
Slovakia
the Netherlands
Belgium
Norway
Denmark
Czech Republic
Sweden
Rest of Europe

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Asia Pacific

China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Vietnam
The Philippines
Singapore
Australia & New Zealand
Rest of Asia Pacific

South America

Brazil
Argentina
Colombia
Rest of South America

The Middle East & Africa

Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA

Key Market Players in the Global Flavour and Fragrance Market
The global flavour and fragrance market is highly competitive. Key industry players adopt various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions.

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Major players in the market are:

Firmenich SA
Frutarom Industries Ltd.
PLC, Robertet SA
S H Kelkar and Company Limited
Sensient Technologies Corporation
Givaudan International SA
Huabao International Holdings Limited
Kerry Group
Symrise AG
International Flavors & Fragrances, Inc.

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This release was published on openPR.