Global Markets for Flavors and Fragrances

June 01, 2012

Wellesley, Mass. – According to a new technical market research report,  GLOBAL MARKETS FOR FLAVORS AND FRAGRANCES (CHM034C) from BCC Research (www.bccresearch.com), the worldwide flavor and fragrance market was worth an estimated $21.8 billion in 2011. This figure is projected to exceed $23 billion in 2012 and reach $30.2 billion in 2017, a CAGR of 5.6% between 2012 and 2017.

Fragrances are projected to account for nearly $11.9 billion in 2012 and should reach $15.7 billion in 2017, a CAGR of 5.8%.

Flavors are projected to account for $11.3 billion in 2012 and should reach nearly $14.5 billion in 2017, a CAGR of 5.4%.

Flavors can be defined as the combined sensation of taste and smell. Their foremost characteristic is their ability to enhance the flavor of food. A fragrance that causes a sweet or pleasant smell is a blend of either volatile fragrant plant oils or synthetically derived oils that impart aroma and odor to products. The evolution of fragrance and flavor is influenced by a multitude of factors, ranging from geographical factors to ethnic and social factors.

Synthetic aroma chemicals are typically produced by a controlled chemical reaction and may contain a few to several separate chemicals, most of which are derived from petroleum. Synthetic flavor ingredients are complex mixtures and are regulated for use by the U.S. Food and Drug Administration (FDA) or are generally recognized as safe (GRAS) as provided in the U.S. Code of Federal Regulations (CFR).

There are several trends driving demand in the ingredient markets. Demand for high-end perfumes continues to drive the markets for fragrance ingredients. Demand for ingredients used in flavors and fragrances overall also will continue to be driven by ongoing consumer preferences for natural ingredients and rising consumer interest in more complex and authentic flavors and fragrances.  Strong growth in low-fat and low-carbohydrate foods and beverages will also promote demand for flavors and fragrances to further improve the appeal of these products.

This study will be of great interest to those interested in the commercial aspects of the flavor and fragrance industry or for businesses and investors interested in assessing the scope of the field.  The readers are likely to hold positions in strategic planning, new business development, marketing, product management, sales or analysts/investment advisers.  Research scientists interested in pursuing the industrial applications of enzymes will also find this study of value.

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Global Markets for Flavors and Fragrances( CHM034C )
Publish Date: May 2012    

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