The global flavor and fragrance market size was US$ 29.5 billion in 2021. The global flavor and fragrance market size is forecast to reach US$ 44.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022 to 2030.

Flavor and smell are two senses that people perceive with the tongue and nose. Flavor is a distinct flavor, whereas fragrance is a sweet and pleasant odor. The major distinction between flavor and fragrance is that flavor is experienced through the tongue, whereas fragrance is experienced through the nose. The term "flavor" refers to a specific type of taste. Various spices, for example, have different flavors: cloves are earthy and sweet, whereas turmeric is peppery and harsh. A sweet or pleasant odor or ascension characterizes the aroma. The nose detects the scent, classified as a sense of smell.

Factors Influencing Market Growth

• Rising demand from end-user industries such as food, beverages, cosmetics, and toiletries is forecast to drive the global market.
• Increasing demand for personal care products and food and beverages is likely to fuel the global market growth. 
• The rising use of flavors in pharmaceuticals, dietary supplements, and nutraceuticals is forecast to boost the demand of the global market in the future. 
• Growing disposable income in developing economies will increase the demand for cosmetics, toiletries, perfumes, soaps, and detergents. This factor is forecast to fuel the global market growth.

Impact Analysis of COVID-19

The COVID-19 pandemic had a negative impact on the global flavors and fragrances market. Several governments imposed a lockdown in order to curb the spread of the deadly virus. As a result, it impacted lifestyles, health & wellbeing, and affected manufacturing industries. In addition, supply chain disorder, scarcity of availability of workers, and total shutdown of hotels & restaurants have negatively influenced the flavors and fragrance market. Additionally, import and export regulations on goods and quarantine and lockdown standards imposed by governments were challenges faced by exporters during the pandemic.

Regional Insights

The Asia Pacific region is forecast to record the highest CAGR in the market during the forecast period. As a result of the availability of raw materials and growing demand from different application industries. In addition, rising demand from food processing, pharmaceuticals, dietary supplements, and the nutraceuticals industry. A shift in consumer preference and a surge in demand for exotic scents are factors fueling the global market growth.

North America garnered the highest market share in 2021 and is forecast to maintain its market share during the forecast period. As a result of the growing demand for products from personal care, cosmetics, home care, therapy, oral care, and air freshener products. 

Leading Competitors

The leading prominent companies profiled in the global flavor and fragrance market are:

• Firmenich SA
• Frutarom Industries Ltd.
• PLC, Robertet SA
• S H Kelkar and Company Limited
• Sensient Technologies Corporation
• Givaudan International SA
• Huabao International Holdings Limited
• Kerry Group
• Symrise AG
• International Flavors & Fragrances, Inc.
• Other Prominent Players

Scope of the Report

The global flavor and fragrance market segmentation focuses on Type, Nature, Application, and Region.

Segmentation based on Type

• Flavors
• Fragrance

Segmentation based on Nature

• Natural
• Synthetic

Segmentation based on Application

• Food & Beverages
• Cosmetics & Personal Care
• Home Care
• Fabric Care

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America

Meta Title: Flavor and Fragrance Market Size, Share, Insight and Forecast 2022 To 2030

Meta Description: Global Flavor and Fragrance Market is projected to reach US$ 44.9 billion by end of 2030 from US$ 29.5 billion in 2021, at a CAGR of 5.5%

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