Bio-based Flavors and Fragrances Market Estimated to Flourish by 2031

𝐁𝐢𝐨-𝐁𝐚𝐬𝐞𝐝 𝐅𝐥𝐚𝐯𝐨𝐫𝐬 𝐚𝐧𝐝 𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏
The global bio-based flavors and fragrances market was valued at US$ 1945.0 Mn in 2021
It is estimated to grow at a CAGR of 8.3% from 2022 to 2031
The global bio-based flavors and fragrances market is expected to reach US$ 4555.5 Mn by the end of 2031

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 - https://www.transparencymarketresearch.com/bio-based-flavors-and-fragrances-market.html

𝐁𝐢𝐨-𝐁𝐚𝐬𝐞𝐝 𝐅𝐥𝐚𝐯𝐨𝐫𝐬 𝐚𝐧𝐝 𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧
Bio-based flavors derive their aroma chemicals from plant or animal sources, including fruit, meat, fish, spices, herbs, roots, leaves, buds or bark that are distilled, fermented, or otherwise manipulated in a lab. Bio-based flavors and fragrances are derived by mixing and blending of natural ingredients. Extensive applications of bio-based flavors and fragrances enhance the taste and appeal of food, beverages, and other consumer products, which is estimated to drive market growth. Fragrances are applied to impart desired scents to a wide range of consumer products such as perfumes, soaps and laundry detergents.
Microbes are also used to produce aromas and fragrances. Microbial flavors and fragrances synthesis is based on de novo microbial processes (fermentation) or on bioconversions of natural precursors using microbial cells or enzymes.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84312

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐅𝐥𝐚𝐯𝐨𝐫 𝐚𝐜𝐫𝐨𝐬𝐬 𝐅𝐨𝐨𝐝 & 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐭𝐨 𝐏𝐫𝐨𝐩𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭
Increasing flavor inspiration among customers has propelled the demand for vibrant flavors and more palatable drinks in the market, which has generated various new concepts in the beverage industry, including functional beverages, infused beverages, flavored water, and fusion beverages. Citrus flavors are gaining traction among consumers with their nutritional value and vibrant flavor and therefore, top beverage companies are using citrus flavors to innovate their offerings.
A recent survey carried out by Koninklijke DSM N.V., a science-based company active in health, nutrition, and sustainable living, revealed that more than half (55%) urban consumers' believe a 'natural or fresh' flavor makes food taste delicious. This consumer demand for fresh and natural tastes poses a challenge for food producers, as they have to meet these taste expectations without forfeiting convenience and comprehensible labeling.
Currently, fresh, authentic, and natural taste experiences are driving consumer demand around the world. Consumers prioritize authentic and natural-tasting food even in diverse markets such as China, Brazil, Poland, and India. Therefore, large food and beverage manufacturers are updating their inventories with more products having a tint of fruity flavor. This is estimated to propel the flavors and fragrances market significantly.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=84312

𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐞𝐮𝐭𝐢𝐜𝐚𝐥𝐬 𝐚𝐧𝐝 𝐂𝐨𝐬𝐦𝐞𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐭𝐨 𝐁𝐨𝐨𝐬𝐭 𝐌𝐚𝐫𝐤𝐞𝐭
Increased awareness about the environment among the population and a rise in the demand for an environment-friendly products have fueled the bio-based or biotechnological flavors and fragrances market. Demand for eco-friendly products across industries gathers strength and companies focus on the development of more effective varieties of bio-based or sustainable flavors and fragrances.
Adoption of bio-based ingredients for skin and sun care cosmetic products has been at a high, globally, due to a rise in the demand for clean label beauty products and an increase in health-consciousness among consumers.
Several certifying bodies such as Soil Association (UK), BDIH (Germany), Ecocert (France), Nature, and Nordic Swan, offer a unified identity to bio-based and natural ingredients and finished products in the cosmetics and personal care market space. Bio-based flavors and fragrances are utilized as an organic compounds in the manufacturing of shampoos, detergents, and various pharmaceutical products, as they can dissolve in various alcohols.
Growing modernization in developing economies has augmented the demand for perfumes, cosmetics, toiletries, soaps, and detergents. Furthermore, a rise in preference for organic ingredients in the personal care sector drives the demand for natural fragrances, as they are perceived to be healthier, safe, and therapeutic when consumed.
Increase in the usage of flavors in the pharmaceutical industry is also contributing to market growth. Flavors are inactive ingredients in syrups, suspensions, chewable tablets, and gums. The added flavor overcomes the bitter taste of medicine, which makes it more edible, and transmits a beneficial therapeutic effect.

𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐯𝐞 𝐔𝐬𝐞 𝐨𝐟 𝐃 𝐋𝐢𝐦𝐨𝐧𝐞𝐧𝐞 𝐢𝐧 𝐕𝐚𝐫𝐢𝐨𝐮𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐀𝐮𝐠𝐦𝐞𝐧𝐭𝐬 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭
In terms of type, the global bio-based flavors and fragrances market has been divided into Benzyl alcohol-based, cinnamic aldehyde-based, D limonene-based, guaiacol-based, levulinic acid-based, and others. The D limonene-based segment was valued at US$ 507.7 Mn and held the largest share, of 26.2%, in 2021. Among the various types of bio-based flavors and fragrances, D-limonene is typically present in the peel of citrus fruits such as organs, lemons, and mandarin. It's manufactured with the help of distillation or extraction process. Traditionally, the organic solvent has been used for home health remedies and for the last few years, it is utilized in diverse applications in various industry verticals such as pharmaceuticals, food processing, and other industrial purposes.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐁𝐢𝐨-𝐁𝐚𝐬𝐞𝐝 𝐅𝐥𝐚𝐯𝐨𝐫𝐬 𝐚𝐧𝐝 𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
The global bio-based flavors and fragrances market demand analysis reveals that Europe held the largest share of more than 31%, in terms of volume, of the global market in 2021. The market in the region is expected to grow at a CAGR of more than 8.5% during the forecast period. The key reason behind this is the large demand from food & beverage manufacturers and uptake in considerable quantities for the manufacture of fine fragrances and cosmetics in the region. Demand for flavors for usage in liquor-based drinks has also increased significantly in the last few years, which is expected to further drive the bio-based flavors and fragrances market share held by Europe.
The market in Asia Pacific is dominated by China. The market in India and Rest of Asia Pacific is expected to grow at a rapid pace, owing to a surge in the demand for flavored products in these countries. Additionally, the development of the pharmaceutical industry in the region is expected to provide traction for the market. North America, on the other hand, is expected to witness median growth in the market. The market has reached the maturity phase in the region; however, demand for sodas and canned cocktails, is expected to offer significantly opportunity for the market in the near future.
In Latin America, demand for flavors and fragrances for the manufacture of local beverages has surged in the last few years. Furthermore, home & floor care products are also in demand in the region owing to rising regional health concerns in the last few years. The market in the Middle East & Africa, on the other hand, is expected to grow at a considerable pace due to the heavy demand for cosmetics and fine fragrances applications in the region.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=84312

𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐅𝐥𝐚𝐯𝐨𝐫𝐬 𝐚𝐧𝐝 𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
The global bio-based flavors and fragrances market is highly consolidated, with a small number of small-scale vendors controlling majority of the share. Most bio-based flavors and fragrances companies are investing significantly in comprehensive research and development activities, primarily to create environmentally-friendly products. Expansion of product portfolios and mergers and acquisitions are prominent strategies adopted by key players. DSM, Conagen, Inc., Symrise, Sensient Technologies Corporation, Givaudan S.A., International Flavors & Fragrances, Inc., ADM, Takasago International Corporation, Sensient Technologies Corporation, T. Hasegawa Co., Ltd., Robertet Group, Firmenich S.A. and Evolva Holding SA are the key entities operating in this market.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Rohit Bhisey
Transparency Market Research Inc.
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