North America Flavors and Fragrances Market Overview, Growth Drivers, Business Strategies and Forecast 2021-2026

According to IMARC Group latest report titled "North America Flavors and Fragrances Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", offers a comprehensive analysis of the industry, which comprises insights on North America Flavors and Fragrances Market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The North America flavors and fragrances market reached a value of US$ 9.1 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 3.3% during 2021-2026.

Flavors and fragrances are widely utilized to improve the overall aesthetic value of a product by changing its taste and smell. Flavors are widely incorporated in the preparation of foods, beverages, dairy and confectionary items to enhance the taste of goods. Additionally, its inclusion at optimal concentration also helps in enhancing the texture and taste of numerous food and beverages. On the other hand, fragrances are utilized for fine smells in cosmetics, home care, and body care products. They are derived from natural or artificial compounds that aid in improving the aesthetic value of a particular substance. Some of the commonly used flavors and fragrances products include aroma chemicals, essential oils, and fragrances and flavor blends.

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Market Trends:

The accelerating demand and consumption of processed food among the masses majorly drive the market in North America. This can be attributed to hectic lifestyle schedules and the changing lifestyle patterns of individuals. Coupled with this, the escalating utilization of flavor and fragrance ingredients in bakery and confectionary items is significantly supporting their demand. Along with this, numerous leading manufacturers are heavily investing in designing aesthetically appealing consumer goods, which is providing a boost to the demand for flavors and fragrances substances across the region. Furthermore, the increasing demand for flavors and fragrances in dietary supplements, pharmaceuticals and nutraceuticals is creating a positive market outlook. Some of the other factors driving the market further include rapid urbanization, the rising popularity of aromatherapy therapies and inflating disposable income levels of the masses.

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North America Flavors and Fragrances Market Segmentation:

Our report has categorized the market based on region, product type, form, application and ingredients.

Key Regions Analysed:
• United States
• Canada

Market by Segment:
• Flavors Market
o Market by Product Type
 Natural-Identical
 Artificial
 Natural

o Market by Form
 Liquid
 Dry

o Market by Application
 Beverages
 Dairy and Frozen Desserts
 Bakery and Confectionery Products
 Savories and Snacks
 Others

• Fragrances Market
o Market by Application
 Cosmetics and Toiletries
 Fine Fragrances
 Household Cleaners and Air Fresheners
 Soap and Detergents
 Others

o Market by Ingredients
 Natural
 Synthetic

Key highlights of the report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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