Flavors and Fragrances Market size in 2019 is $28 billion, and is growing with a CAGR 6.2% during the forecast period 2020-2025. Increasing demand for flavor ingredients across food and beverage applications is driving the market. Natural flavor and fragrance ingredients are derived from spices, herbs or other naturally available crops through a process of extraction either solvent-based or supercritical. In addition the use of flavors in bakery and confectionary to produce aroma is further propelling the market during the forecast period 2020-2025.

Key Takeaways
Rising demand of fragranced personal care and household products is also said to be driving the Flavor and Fragrance Ingredients Market during the forecast period 2020-2025.

Rapid urbanization, increased availability of disposable income to purchase goods are further contributing to the growth of this market.

North America dominated the flavor and ingredient market due to the rising demand of fragrances, as well as food and beverages flavoring in that region.

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Geography- Segment Analysis

North America accounts for 35% of the Flavors and Fragrances Ingredients Market share in 2019 owing to a steady increase in the disposable income of the population in the region. A high percentage of people here are consuming processed & packaged foods. Increasing consumption of such foods in various flavors is contributing to higher demand for such flavor and fragrance ingredients. Another factor that has further contributed to the growth of this market in the region is efficient distribution channels. The fragrances ingredients market growth has been largely dependent on distributors who are bridging the gap between fragrances manufacturers and consumers. Their role has been indispensable in assuring the growth of the flavors and fragrances ingredients market in the North American region. Furthermore, the increasing demand for flavor and fragrances in pharmaceutical, energy drinks and nutraceuticals are further contributing to the dominance of this region in the market.

Drivers – Flavor and Fragrances Market
Increasing disposable income

Rising demand for essential oils and fragrances

Flavors and Fragrance Ingredient Market Industry Outloo: Flavor and Fragrance Ingredient top 10 players are Givaudan, Firmenich, International Flavor and Fragrances, Symrise, Takasago, Sensient, Mane, Robertet, Bell Flavors and Fragrances, Kerry, T.Hasegawa and others.

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