Lucintel Forecasts the Global Flavor and Fragrance Market to Reach $43 Billion by 2030
Lucintel Forecasts the Global Flavor and Fragrance Market to Reach $43 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global flavor and fragrance market looks promising with opportunities in the dairy, beverages, savory, confectionery, fine fragrances, cosmetics & toiletries, soaps & detergents, household & air fresheners market. The global flavor and fragrance market is expected to reach an estimated $43 billion by 2030 from $32 billion in 2023 at a CAGR of 4% from 2023 to 2030. Growth in this market is primarily driven by increasing urbanization, rise in disposable income among middle class consumers and change in consumer behavior such as taste, preference and lifestyle.
Browse 114 figures/charts and 96 tables in this 206-page report to understand trends, opportunities and forecast in flavor and fragrance market by applications (dairy, beverage, savory/snacks, confectionery/bakery, fine fragrance, cosmetic & toiletries, soaps & detergents, household cleaners & air personal, and others), product type (flavor and fragrance), ingredients type (essential oils and aroma chemical), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that beverage will remain the largest application segment over the forecast period due to growing consumption of energy soft drinks, sports drinks, and juices.
Essential oils of flavor and fragrance will remain the largest segment over the forecast period due to its better cleansing and moisturizing properties.
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to strengthening economies, growing urbanization, changing lifestyle, and a rise in per capita income.
Givaudan, Firmenich, International Flavors & Fragrances, Symrise, MANE, Takasago, Sensient Technologies Corporation, Hasegawa, and Huabao International Holdings Ltd are among the major flavor and fragrance providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056