United States Flavors and Fragrances Market 2031 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The Global Flavors and Fragrances Market reached US$ 28.5 billion in 2022 and is expected to reach US$ 41.7 billion by 2031 and is expected to grow with a CAGR of 4.9% during the forecast period 2024-2031.

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Key Development:

United States: Recent Flavors & Fragrances Developments

✅ In December 2025, International Flavors & Fragrances Inc. (IFF) saw a notable insider share purchase from a senior executive, reflecting internal confidence in strategic positioning and upcoming product and capability investments in taste, scent, and bio‐innovations.

✅ In December 2025, Givaudan completed the acquisition of U.S.‐based fragrance house Belle Aire Creations, expanding its local regional customer reach and creative fragrance portfolio in the United States.

✅ In November 2025, broad industry tracking showed that the flavors & fragrances sector saw strong investment activity in 2025, including 19 acquisitions and multiple funding rounds, underscoring sustained M&A momentum and capital flowing into F&F innovation and ingredient platform expansion.

✅ In October 2025, Turpaz Industries Ltd. completed its sixth acquisition since the beginning of 2025 and strengthened its global flavor and fragrance portfolio while also successfully raising USD 98 million in an equity offering to support further expansion and R&D in specialty aroma solutions.

✅ In September 2025, a major industry move included expanded strategic investments in natural and bio‐based formulations by leading global players headquartered or heavily active in the U.S., focusing on sustainability technologies and AI‐enhanced formulation platforms to meet evolving consumer preferences.

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Japan: Recent Flavors & Fragrances Developments

✅ In December 2025, demand data indicated a significant uptick in encapsulated flavors and fragrances applications in Japan's food, beverage, personal care and home‐care segments, driving R&D and commercial interest in controlled‐release sensory technologies across local manufacturers.

✅ In November 2025, T. Hasegawa Co., Ltd. acquired Hoàng Anh Flavors and Food Ingredients Joint Stock Company of Vietnam, making it a wholly‐owned subsidiary to strengthen its flavor and food ingredient footprint and accelerate penetration into Southeast Asian markets.

✅ In October 2025, Turpaz Industries' global acquisitions included partners and manufacturing capacities relevant to Japan's F&F supply chain, enhancing cross‐border ingredient availability and collaboration for flavor and scent innovation in the Japanese market.

✅ In September 2025, reports on Japan's fragrance and flavor ecosystem highlighted strengthened competitive positioning among domestic and global firms investing in premium sensory experiences and expanded distribution networks to capture evolving consumer demand.

✅ In late 2025, major Japanese players such as T. Hasegawa and others continued to promote their flavor & fragrance technologies and expanded technology transfers with global partners, reinforcing Japan's role in specialized ingredient development and sensory solutions.

Key Players:

=> International Flavors & Fragrances, Givaudan, Firmenich, Mane, Symrise, Takasago International Corp, Wild Flavors and Specialty Ingredients, Agilex Flavors & Fragrances, Inc., Frutarom, and Sensient Technologies.

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Key Segments:

By Type

Natural flavor ingredients lead with 55% share, driven by rising consumer demand for clean-label, organic, and minimally processed foods, as well as growing preference for natural aromas in beverages, dairy, and confectionery. Synthetic flavor ingredients account for 45%, supported by cost-effectiveness, consistency, and stability in large-scale food production, especially in processed and packaged products.

By End-Usage

Dairy products dominate with 25% share, fueled by flavored milk, yogurts, and functional dairy beverages incorporating natural and synthetic flavors. Consumer products account for 20%, including snacks, baked goods, and ready-to-eat meals requiring consistent taste profiles. Fine fragrances hold 18%, driven by the cosmetic and personal care industry's demand for natural and exotic aromas. Confectionery represents 15%, supported by chocolates, candies, and sugar-free products enhanced with natural and artificial flavors. Savory segment accounts for 12%, including sauces, soups, ready meals, and seasonings leveraging flavor innovations. Other applications make up 10%, covering beverages, nutraceuticals, and niche culinary products.

By Region

North America - 30% Share
North America leads with 30%, driven by high consumer awareness of natural ingredients, strong food and beverage industry, and innovation in dairy, confectionery, and consumer products in the U.S. and Canada.

Europe - 28% Share
Europe holds 28%, supported by stringent regulations favoring natural ingredients, rising demand for clean-label foods, and well-established flavor manufacturing hubs in Germany, France, Italy, and the U.K.

Asia Pacific - 22% Share
Asia Pacific accounts for 22%, fueled by population growth, rising disposable income, and increasing adoption of flavored dairy, confectionery, and savory products in China, India, Japan, and Southeast Asia.

Latin America - 12% Share
Latin America holds 12%, supported by the growing food and beverage industry, rising urbanization, and increasing use of flavor ingredients in Brazil, Mexico, and Argentina.

Middle East & Africa - 8% Share
Middle East & Africa represent 8%, driven by expanding processed food markets, demand for exotic flavors, and growing retail penetration in GCC countries, North Africa, and South Africa.

FAQ

What is the current size of the Flavors and Fragrances Market?

A: In 2022, the Flavors and Fragrances Market was valued at US$ 28.5 billion , reflecting its strong industry presence.

Q2: How large is the Flavors and Fragrances Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Flavors and Fragrances Market will grow to around US$ 41.7 billion, demonstrating significant expansion.

Q3: What is the growth rate of the Flavors and Fragrances Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2024 to 2031.

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