Flavour and fragrance are extracts/ingredients sourced from various naturally occurring plants or even synthetically created. These extracts are included as additions in various application such as cosmetics, food & beverage products, toiletries and various other areas to improve the flavour and smell of these products which subsequently provides higher consumer marketable appeal. Due to their various benefits in enhancement of taste and smell they are highly popular in reducing the negative impact of chemicals and camouflaging its overall impact in the product
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The market is segmented on the basis of ingredient as synthetic, natural; end use as flavours, fragrances.
“According to Data Bridge Market Research, global flavour and fragrance market is expected to reach USD 26.86 billion by 2026, growing at a steady CAGR during the forecast period of 2019 to 2026”
Some of the major players operating in the market are Givaudan, Firmenich SA, International Flavors & Fragrances Inc., Symrise, Takasago International Corporation, Sensient Technologies Corporation, MANE, Robertet, T.HASEGAWA CO. LTD., Bell Flavors & Fragrances, Archer Daniels Midland Company, Kerry Inc., Ogawa & Co. Ltd., Huabao International Holdings Limited, AROMATECH, Bedoukian Research Inc. among others.
With the rising volume of disposable income associated with the worldwide population, there is a sense of consuming only the high-quality food & beverages products because of the increasing affordability amongst the population. This trend amongst the population of having high quality products from the food & beverages is expected to foster a positive impact on the market’s demand from the different industry verticals.
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Global Flavour and Fragrance Market – Industry Trends and Forecast to 2028