Flavors & Fragrances Industry Projected to Reach Higher Growth Rate by 2030

Flavors Fragrances Industry Data Book Covers Natural Flavors Fragrances and Aroma Chemicals Markets.

The economic value generated by the flavors fragrances industry was estimated at approximately USD 23.35 billion in 2021, is anticipated to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030.

Grand View Research’s flavors fragrances industry databook is a collection of market sizing information forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Natural Flavors And Fragrances Market Insights

The global natural flavors and fragrances market was valued at USD 9.15 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030.

Based on products, the global industry has been further segmented into essential oils, oleoresins, dried crops, herbal extracts, and others. The essential oils product segment dominated the global industry in 2021 and accounted for the maximum share of more than 74.65% of the overall revenue. This high share is attributed to the wide applicability of these products as aromatic and flavoring agents in different end-use applications, such as cleaning home, food beverage, medical, and spa relaxation among others.

The distillation technology segment dominated the global industry in 2021 and accounted for the highest share of more than 42.35%. This high share is attributed to various advantages of the process, such as reduced operation cost, improved extraction yield, shorter time of extraction, effective heating, and faster transfer of energy.

The flavors application segment dominated the global industry in 2021 and accounted for the maximum share of more than 53.65% of the overall revenue. Its high share is attributed to the extensive usage of multiple flavors in various end-use industries, especially in foods and beverages like confectionery, convenience food, dairy food, and bakery items. 

Access the Global Flavors Fragrances Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies

Aroma Chemicals Market Insights

The global aroma chemicals market size was valued at USD 5.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030. 

The synthetic source segment dominated the market with a revenue share of 67.98% in 2021. This is attributed to the rising utilization of synthetic products in cosmetics, personal care, and food beverages. Synthetic aromas are one of the essential ingredients for the production of custom and fine fragrances. Synthetic aromas are widely used in cosmetics for all users such as women, men, and also for children.

The terpenes terpenoids segment dominated the aroma chemicals market with a revenue share of 37.50% in 2021. The high share is attributable to the product’s natural availability as well as the growing utilization of terpenes resin in paints printing inks, rubber adhesives, pressure-sensitive tapes, and chewing gums, among others.

The fragrance application segment held the leading revenue share of 68.82% in 2021. The high share of the segment is attributable to surging demand for beverages processed foods, growing disposable income, the rising popularity of exotic flavors, as well as increasing demand for several food applications such as convenience foods, confectionery, dairy, and bakery.

Aroma chemicals are blended by perfumers to create fine fragrances which can be both light and strong in nature. Cinnamaldehyde is utilized as a raw material for the formulation of fine fragrances such as cinnamyl alcohol (lilac), and dihydrocinnamyl alcohol (hyacinth), among others.

Flavors Fragrances Market – Global Industry Segmentation

Natural Flavors Fragrances Market Size Forecasts, by Product, 2018 - 2030

• Essential Oils

1. Orange
2. Limonene
3. Myrcene
4. Others
5. Corn Mint
6. Menthol
7. Menthone
8. Others
9. Eucalyptus
10. Limonene
11. Citral
12. Others
13. Pepper Mint
14. Menthol
15. Menthone
16. Others
17. Lemon
18. Pinene
19. Limonene
20. Camphene
21. Citronella
22. Citronellal
23. Others
24. Patchouli
25. Patchouli Alcohol
26. Others
27. Clove
28. Eugenol
29. Others
30. Ylang Ylang
31. Lavander
32. Linalyl Acetate
33. Others
34. Others

• Oleoresins

1. Paprika
2. Piperine
3. Others
4. Black Pepper
5. Piperine
6. Others
7. Turmeric
8. Curcumin
9. Others
10. Ginger
11. Gingerol
12. Others
13. Others

• Other Products

Order your copy of the Free Sample of “Flavors Fragrances Industry Data Book - Natural Flavors Fragrances and Aroma Chemicals Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Flavors Fragrances Industry Data Book Regional Outlook

• North America

1. U.S.
2. Canada
3. Mexico

• Europe

1. U.K.
2. Germany
3. France
4. Italy
5. Spain
6. Portugal

• Asia Pacific

1. China
2. Japan
3. India
4. Southeast Asia

• Central South America

1. Brazil
2. Colombia

• Middle East Africa (MEA)

1. Middle East
2. Saudi Arabia
3. Africa

Flavors Fragrances Industry Data Book Competitive Landscape

Though the COVID 19 pandemic led multiple chemical manufacturers to witness a decline in sale of their products, The flavors fragrance sector was less affected by the same. The major players in the business, namely, Givaudan and Symrise, witnessed an increase in sales while the International Flavors Fragrances saw a slight decline in the revenue. 

Key players operating in the flavors fragrances industry are –

• Givaudan
• Symrise AG
• International Flavors Fragrances Inc. (IFF)
• Biolandes SAS
• Young Living Essential Oils
• dōTERRA International
• Falcon Essential Oils
• Flavex Naturextrakte GmbH
• Universal Oleoresins
• Synthite Industries Limited
• Ungerer Company
• Akay Flavours Aromatics Pvt. Ltd.
• Indo World
• BASF SE
• Vigon International, Inc.
• Firmenich SA
• Elevance Renewable Sciences, Inc.
• Ozone Naturals
• Alpha Aromatics
• Manohar Botanical Extracts Pvt. Ltd.
• Takasago International Corporation
• Mane SA
• Sensient Technologies Corporation

Go through the table of content of Flavors Fragrances Industry Data Book to get a better understanding of the Coverage Scope of the study

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