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Flavor and Fragrance Market Expands as Demand for Natural and Sustainable Ingredients Rises | Valuates Reports
Flavor and Fragrance Market SizeThe global market for Flavor and Fragrance was valued at US$ 30580 million in the year 2024 and is projected to reach a revised size of US$ 37500 million by 2031, growing at a CAGR of 3.0% during the forecast period.
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Flavor and Fragrance Market Trends
The Flavor and Fragrance market size is witnessing steady expansion due to the rising consumer preference for natural, organic, and sustainable ingredients in food, beverages, and personal care products. With growing health awareness and demand for clean-label formulations, manufacturers are focusing on plant-based and bioengineered flavor and fragrance solutions. Additionally, advancements in biotechnology and AI-driven formulation techniques are enhancing product innovation, driving market growth.
In terms of market share, the food and beverage industry remains the largest consumer of flavors, utilizing them to create enhanced taste experiences in processed foods, beverages, and confectionery products. Meanwhile, the cosmetics and personal care sector is a key driver for the fragrance market, with brands adopting natural essential oils, synthetic aroma compounds, and sustainable scent solutions. The increasing demand for customized and long-lasting fragrances in perfumes, home care, and luxury products is further fueling market expansion.
A detailed market analysis highlights that shifting consumer trends, regulatory support for clean-label ingredients, and technological advancements in fragrance encapsulation and natural extraction processes are shaping the industry. As companies invest in green chemistry and AI-driven scent design, the Flavor and Fragrance market revenue is expected to see significant growth, particularly in North America, Europe, and Asia-Pacific, where demand for premium and sustainable sensory experiences is on the rise.
by Type
• Flavor
• Fragrance
by Application
• Food and Beverages
• Daily Chemicals
• Tobacco Industry
By Company
Givaudan, Firmenich, IFF, Symrise, Takasago, WILD Flavors, Mane, International Flavors&Fragrances, Sensient, Robertet SA, T. Hasegawa, Kerry, McCormick, Synergy Flavor, Prova, Huabao, Yingyang, Zhonghua, Shanghai Apple, Wanxiang International, Boton
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