Flavors and fragrances market to grow at a CAGR of 5.64% from 2021 to 2026|BASF SE, Custom Flavors, DuPont de Nemours Inc., and more to emerge as key players -Technavio

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NEW YORK, July 18, 2023 /PRNewswire/ -- The flavors and fragrances market size is estimated to grow by USD 10.44 billion from 2021 to 2026 at a CAGR of 5.64% according to Technavio. The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including Archer Daniels Midland Co., BASF SE, Custom Flavors, DuPont de Nemours Inc., Firmenich SA, Flavorchem Corp, Givaudan SA, H Roberts Group Pte Ltd, Huabao International Holdings Ltd, Kerry Group Plc, Keva Flavours Pvt Ltd, McCormick and Co. Inc., Robertet SA, Sensient Technologies Corp., Solvay SA, Symrise AG, Synergy Flavors, Takasago International Corp, and The MANE Group. Download a Sample Report Now!

Flavors and fragrances market insights -

• Vendors: 15+, Including Archer Daniels Midland Co., BASF SE, Custom Flavors, DuPont de Nemours Inc., Firmenich SA, Flavorchem Corp, Givaudan SA, H Roberts Group Pte Ltd, Huabao International Holdings Ltd, Kerry Group Plc, Keva Flavours Pvt Ltd, McCormick and Co. Inc., Robertet SA, Sensient Technologies Corp., Solvay SA, Symrise AG, Synergy Flavors, Takasago International Corp, and The MANE Group, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Type (Fragrances and Flavors), Product (Formulated flavors and fragrances, Aroma chemicals, and Essential oils), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

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Major Drivers - 

• The growth of the market is primarily driven by the increasing number of new product launches.
• Successful new product launches help vendors increase their revenue and aid in expanding their market share.
• New product launches also provide multiple options to buyers, thus allowing vendors to increase their consumer base.
• Such benefits are encouraging vendors in the market to focus on new product launches. All these factors are driving the growth of the market in focus.

Significant Trends -

• Advancement in technologies is an emerging market trend influencing the growth of the flavors and fragrances market during the forecast period.  
• The technological advancement in product offerings and business strategies includes investments in R&D, expansions, and innovative marketing strategies.
• These advancements help vendors that manufacture flavors and fragrances explore additional opportunities without incurring a considerable financial burden.
• In June 2021, Firmenich SA introduced Scentmate, the first AI-enabled platform that simplifies creation to deliver fragrance solutions for entrepreneurs and independent brands. Hence, such trends boost market growth during the forecast period.

Key challenges - 

• The threat of counterfeit products challenges the growth of the flavors and fragrances market during the forecast period. 
• Counterfeit products pose a challenge for genuine vendors of flavors and fragrances. Furthermore, most consumers are unable to distinguish between original products and counterfeit ones and buy the latter due to their low cost. 
• This affects the brand /image and sales of the company, whereas, many counterfeit products are sold online and through auction websites.
• Hence, such challenges impede market growth during the forecast period.

Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

The flavors and fragrances market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this flavors and fragrances market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the flavors and fragrances market between 2022 and 2026
• Precise estimation of the size of the flavors and fragrances market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the flavors and fragrances market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of flavors and fragrances market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

• 5.1 Market segments
• Exhibit 25: Chart on Type - Market share 2021-2026 (%)
• Exhibit 26: Data Table on Type - Market share 2021-2026 (%)

• 5.2 Comparison by Type
• Exhibit 27: Chart on Comparison by Type
• Exhibit 28: Data Table on Comparison by Type

• 5.3 Fragrances - Market size and forecast 2021-2026 
• Exhibit 29: Chart on Fragrances - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on Fragrances - Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on Fragrances - Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on Fragrances - Year-over-year growth 2021-2026 (%)

• 5.4 Flavors - Market size and forecast 2021-2026 
• Exhibit 33: Chart on Flavors - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on Flavors - Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on Flavors - Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Flavors - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Type 
• Exhibit 37: Market opportunity by Type ($ million)

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 38: Chart on Product - Market share 2021-2026 (%)
• Exhibit 39: Data Table on Product - Market share 2021-2026 (%)

• 6.2 Comparison by Product 
• Exhibit 40: Chart on Comparison by Product
• Exhibit 41: Data Table on Comparison by Product

• 6.3 Formulated flavors and fragrances - Market size and forecast 2021-2026 
• Exhibit 42: Chart on Formulated flavors and fragrances - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on Formulated flavors and fragrances - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on Formulated flavors and fragrances - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on Formulated flavors and fragrances - Year-over-year growth 2021-2026 (%)

• 6.4 Aroma chemicals - Market size and forecast 2021-2026 
• Exhibit 46: Chart on Aroma chemicals - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Aroma chemicals - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Aroma chemicals - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Aroma chemicals - Year-over-year growth 2021-2026 (%)

• 6.5 Essential oils - Market size and forecast 2021-2026 
• Exhibit 50: Chart on Essential oils - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Essential oils - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Essential oils - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Essential oils - Year-over-year growth 2021-2026 (%)

• 6.6 Market opportunity by Product 
• Exhibit 54: Market opportunity by Product ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 56: Chart on Market share by geography 2021-2026 (%)
• Exhibit 57: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 58: Chart on Geographic comparison
• Exhibit 59: Data Table on Geographic comparison

• 8.3 APAC - Market size and forecast 2021-2026 
• Exhibit 60: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 61: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 62: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 63: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 8.4 North America - Market size and forecast 2021-2026 
• Exhibit 64: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 65: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 66: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 67: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 8.5 Europe - Market size and forecast 2021-2026 
• Exhibit 68: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 70: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 8.6 South America - Market size and forecast 2021-2026 
• Exhibit 72: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 74: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 8.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 76: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 78: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 8.8 US - Market size and forecast 2021-2026 
• Exhibit 80: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on US - Year-over-year growth 2021-2026 (%)

• 8.9 China - Market size and forecast 2021-2026 
• Exhibit 84: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on China - Year-over-year growth 2021-2026 (%)

• 8.10 Japan - Market size and forecast 2021-2026 
• Exhibit 88: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 8.11 Germany - Market size and forecast 2021-2026 
• Exhibit 92: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 93: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 94: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 8.12 Italy - Market size and forecast 2021-2026 
• Exhibit 96: Chart on Italy - Market size and forecast 2021-2026 ($ million)
• Exhibit 97: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
• Exhibit 98: Chart on Italy - Year-over-year growth 2021-2026 (%)
• Exhibit 99: Data Table on Italy - Year-over-year growth 2021-2026 (%)

• 8.13 India - Market size and forecast 2021-2026 
• Exhibit 100: Chart on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 101: Data Table on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 102: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 103: Data Table on India - Year-over-year growth 2021-2026 (%)

• 8.14 Market opportunity by geography 
• Exhibit 104: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 108: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 109: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 11.3 DuPont de Nemours Inc. 
• Exhibit 111: DuPont de Nemours Inc. - Overview
• Exhibit 112: DuPont de Nemours Inc. - Business segments
• Exhibit 113: DuPont de Nemours Inc. - Key offerings
• Exhibit 114: DuPont de Nemours Inc. - Segment focus

• 11.4 Firmenich SA
• Exhibit 115: Firmenich SA - Overview
• Exhibit 116: Firmenich SA - Product / Service
• Exhibit 117: Firmenich SA - Key offerings

• 11.5 Givaudan SA
• Exhibit 118: Givaudan SA - Overview
• Exhibit 119: Givaudan SA - Business segments
• Exhibit 120: Givaudan SA - Key offerings
• Exhibit 121: Givaudan SA - Segment focus

• 11.6 Kerry Group Plc
• Exhibit 122: Kerry Group Plc - Overview
• Exhibit 123: Kerry Group Plc - Business segments
• Exhibit 124: Kerry Group Plc - Key news
• Exhibit 125: Kerry Group Plc - Key offerings
• Exhibit 126: Kerry Group Plc - Segment focus

• 11.7 McCormick and Co. Inc. 
• Exhibit 127: McCormick and Co. Inc. - Overview
• Exhibit 128: McCormick and Co. Inc. - Business segments
• Exhibit 129: McCormick and Co. Inc. - Key offerings
• Exhibit 130: McCormick and Co. Inc. - Segment focus

• 11.8 Sensient Technologies Corp. 
• Exhibit 131: Sensient Technologies Corp. - Overview
• Exhibit 132: Sensient Technologies Corp. - Business segments
• Exhibit 133: Sensient Technologies Corp. - Key offerings
• Exhibit 134: Sensient Technologies Corp. - Segment focus

• 11.9 Solvay SA
• Exhibit 135: Solvay SA - Overview
• Exhibit 136: Solvay SA - Business segments
• Exhibit 137: Solvay SA - Key news
• Exhibit 138: Solvay SA - Key offerings
• Exhibit 139: Solvay SA - Segment focus

• 11.10 Symrise AG
• Exhibit 140: Symrise AG - Overview
• Exhibit 141: Symrise AG - Business segments
• Exhibit 142: Symrise AG - Key offerings
• Exhibit 143: Symrise AG - Segment focus

• 11.11 Takasago International Corp 
• Exhibit 144: Takasago International Corp - Overview
• Exhibit 145: Takasago International Corp - Business segments
• Exhibit 146: Takasago International Corp - Key news
• Exhibit 147: Takasago International Corp - Key offerings
• Exhibit 148: Takasago International Corp - Segment focus

• 11.12 The MANE Group
• Exhibit 149: The MANE Group - Overview
• Exhibit 150: The MANE Group - Product / Service
• Exhibit 151: The MANE Group - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 152: Inclusions checklist
• Exhibit 153: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 154: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 155: Research methodology
• Exhibit 156: Validation techniques employed for market sizing
• Exhibit 157: Information sources

• 12.5 List of abbreviations 
• Exhibit 158: List of abbreviations 

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