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Global Markets for Flavors and Fragrances

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 $30 billion in 2017, a compound annual growth rate (CAGR) of 5.6% between 2012 and 2017.

The global market for fragrances was worth $11.2 billion in 2011. This figure is projected to exceed $11.9 billion in 2012 and $15.7 billion in 2017, a CAGR of 5.8%.

The global flavor industry was worth $10.6 billion in 2011. This market is expected to grow to nearly $11.1 billion in 2012 and $14.5 billion in 2017, a CAGR of 5.4%.

SUMMARY FIGURE
GLOBAL MARKET FORECAST FOR KEY INGREDIENTS USED IN
FLAVORS AND FRAGRANCES, 2011-2017 ($ MILLIONS)

Source: BCC Research

OBJECTIVES AND GOALS OF STUDY

This report is an updated edition of an earlier (2006) BCC Research report. Its objective is to provide the reader with a comprehensive analysis of the market environment, competitive structure and end-use markets of the flavor and fragrance industry, based on more recent available data. Technological developments, future trends and emerging opportunities within the industry are thoroughly examined. The information provided in this report will be of great value to those involved in strategic planning, marketing, sales and technological development.

Specific goals of this study are to

  • Assess recent technology developments.
  • Identify demand drivers.
  • Make available the most current and reliable information on the consumption of flavors and fragrances in different end-use sectors.
  • Project the future demand through 2017, including application regional segments.
  • Quantify current and projected demand for key flavor and fragrance ingredients such as essential oils and aroma chemicals.
  • Analyze developments in the structure of the flavor and fragrance industry.

REASONS FOR DOING THE STUDY

Markets for constituents of flavors and fragrance are undergoing significant changes.

Some of the factors influencing the markets are as follows:

  • Newer flavors and fragrances.
  • Newer methods of manufacturing ingredients, including biotechnological routes.
  • Changing tastes and styles due to growth in markets for ethnic flavors.
  • Advances in science and development of new materials.
  • Trend toward the use of more natural products.
  • Demand from increasing middle and affluent classes in developing countries such as China and India.
  • Increasing supplies from developing countries that will influence the raw material prices for the flavor and fragrance industry.

Given these conditions, there is a need for a current, comprehensive report on the flavor and fragrance market covering the areas of technology, demand trends, project opportunities and investment levels.

The report examines the commercial applications currently practiced worldwide in conjunction with their respective markets and growth opportunities. An evaluation of the viability of the market penetration for the newer grades of materials, as well as their applications and salability, is also included in this study.

This study gives a clear, quantitative picture of the supply and demand scenario while evaluating technological and investment opportunities in the field.

SCOPE OF STUDY

This study covers global markets for materials used in the flavor and fragrance industry. It analyzes the market by both the end-use markets and the major types of materials used within the industry, covering both synthetic and natural ingredients.

The study also discusses the emerging trends of these industries and technological developments, including some of the patents in the field. It also looks into the regulatory roles governing the industry and some of the testing typically used by manufacturers to comply with the regulations for producing safe products. It provides market shares of major companies and provides the profiles and contact information of industry leaders in the field.

ANALYSTS' CREDENTIALS

The study on which this updated report is based was carried out by a team of chemical engineering consultants led by senior consultant, N.S. Venkataraman, a chemical engineer with more than 30 years of experience in various positions relating to chemical, pharmaceutical and related industries. Other team members included D. Panneerselvam, T.K. Parija, P. Govindanayagi and K. Geetha. All the members of the team are practicing chemical engineers or chemists with extensive experience as business consultants in chemical and related industries.

Table of Contents

Global Markets for Flavors and Fragrances

Chapter - 1: INTRODUCTION - Complimentary

  • OBJECTIVES AND GOALS OF STUDY
  • REASONS FOR DOING THE STUDY
  • SCOPE OF STUDY
  • TARGET AUDIENCE
  • METHODOLOGY
  • ANALYSTS' CREDENTIALS
  • RELATED BCC PUBLICATIONS
  • BCC ON-LINE SERVICES
  • DISCLAIMER

Chapter - 2: SUMMARY

  • Table Summary: GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES, THROUGH 2017
  • Figure Summary: GLOBAL MARKET FORECAST FOR KEY INGREDIENTS USED IN FLAVORS AND FRAGRANCES, 2011-2017

Chapter - 3: OVERVIEW

  • TYPES OF INGREDIENTS
  • SYNTHETIC INGREDIENTS
  • NATURAL INGREDIENTS
  • HISTORICAL OVERVIEW

Chapter - 4: TECHNOLOGY OVERVIEW

  • CONVENTIONAL TECHNOLOGIES
  • ENZYMATIC ROUTES
  • CHEMICAL METHODS
  • FLAVOR ENCAPSULATION

Chapter - 5: FLAVOR AND FRAGRANCE INDUSTRY BY END-USE MARKETS

  • REGIONAL MARKETS FOR FLAVOR AND FRAGRANCE MATERIALS
  • FRAGRANCE MARKETS
  • END-USE MARKETS FOR FLAVORINGS
    • Table 11: GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES BY REGION, THROUGH 2017
    • Figure 2: GLOBAL FLAVOR AND FRAGRANCE MARKET BY REGION, 2011

Chapter - 6: MARKET BY INGREDIENT PRODUCTS

  • ESSENTIAL OILS
  • AROMA CHEMICALS
    • Table 23: GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORINGS AND FRAGRANCES, THROUGH 2017

Chapter - 7: ENVIRONMENTAL REGULATIONS

  • REGULATORY REQUIREMENTS FOR FLAVORS
  • REGULATORY REQUIREMENTS FOR FRAGRANCES

Chapter - 8: INDUSTRY TRENDS

  • ECONOMIC TRENDS AND MARKET CONDITIONS
  • APPLICATION DEVELOPMENT
  • RAW MATERIAL SOURCING
  • COMPARISON OF NATURAL VERSUS SYNTHETICS
  • FLAVOR AND FRAGRANCE COMPANIES' RANGE OF PRODUCTS
  • BUSINESS CHARACTERISTICS
  • BUSINESS STRATEGIES
  • MERGERS AND ACQUISITIONS
  • CRITICAL AREAS OF FOCUS

Chapter - 9: PATENT ANALYSIS AND PATENT AND TECHNOLOGY DESCRIPTIONS

  • INTRODUCTION
  • PATENT ACTIVITY FOR FLAVORS AND FRAGRANCES
  • TRENDS BY ASSIGNEE
  • PATENT AND TECHNOLOGY CLASSIFICATION

Chapter - 10: PROFILES OF INDUSTRY LEADERS

  • FIRMENICH
  • FLAVORS & FRAGRANCES GROUP (SENSIENT TECHNOLOGIES)
  • FRUTAROM
  • GIVAUDAN
  • T. HASEGAWA
  • INTERNATIONAL FLAVORS & FRAGRANCES (IFF)
  • MANE
  • ROBERTET
  • SYMRISE (FORMERLY DRAGOCO)
  • TAKASAGO
  • OTHER ORGANIZATIONS

List of Tables

  • Summary Table: GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES, THROUGH 2017
  • Table 1: SYNTHETIC BENZENOIDS USED IN FLAVORS AND FRAGRANCES
  • Table 2: SYNTHETIC TERPENES OR TERPENOIDS USED IN FLAVORS AND FRAGRANCES
  • Table 3: MISCELLANEOUS SYNTHETIC AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES
  • Table 4: PLANTS AS SOURCES OF ESSENTIAL OILS
  • Table 5: ESSENTIAL OILS USED IN FLAVORS AND FRAGRANCES
  • Table 6: NATURAL BENZENOIDS USED IN FLAVORS AND FRAGRANCES
  • Table 7: TERPENES OR TERPENOIDS USED IN FLAVORS AND FRAGRANCES
  • Table 8: MISCELLANEOUS AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES
  • Table 9: TIME LINE OF THE DEVELOPMENT OF FLAVORS AND FRAGRANCES
  • Table 10: GLOBAL MARKET FORECAST FOR FLAVOR AND FRAGRANCE END-USE MARKETS, THROUGH 2017
  • Table 11: GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES BY REGION, THROUGH 2017
  • Table 12: GLOBAL MARKET FORECAST FOR FRAGRANCES BY END-USE MARKET, THROUGH 2017
  • Table 13: GLOBAL MARKET FORECAST FOR FRAGRANCES IN COSMETICS AND TOILETRIES BY PRODUCT, THROUGH 2017
  • Table 14: GLOBAL END-USE MARKET VOLUMES FOR COSMETICS AND TOILETRIES BY REGION, 2011
  • Table 15: GLOBAL MARKET FORECAST FOR FLAVORINGS BY END-USE MARKET, THROUGH 2017
  • Table 16: GLOBAL END-USE MARKET FORECAST FOR FLAVORS IN BEVERAGES BY PRODUCT, THROUGH 2017
  • Table 17: GLOBAL MARKET VOLUMES FOR BEVERAGE TYPES, 2011
  • Table 18: GLOBAL MARKET FORECAST FOR FLAVORINGS IN OTHER END-USE MARKETS, THROUGH 2017
  • Table 19: GLOBAL MARKET VOLUMES FOR CONFECTIONERY INDUSTRY, BY REGION, 2011
  • Table 20: GLOBAL MARKET VOLUMES FOR THE BAKED GOODS INDUSTRY, BY REGION, 2011
  • Table 21: GLOBAL MARKET FORECAST FOR MAJOR INGREDIENTS USED IN FLAVORINGS AND FRAGRANCES, THROUGH 2017
  • Table 22: GLOBAL MARKET FORECAST FOR ESSENTIAL OILS AND AROMATICS USED IN FLAVORINGS AND FRAGRANCES BY REGION, THROUGH 2017
  • Table 23: GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORINGS AND FRAGRANCES, THROUGH 2017
  • Table 24: GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORS AND FRAGRANCES BY REGION, THROUGH 2017
  • Table 25: GLOBAL MARKET FORECAST FOR AROMA CHEMICALS USED IN FLAVORINGS AND FRAGRANCES BY PRODUCT, THROUGH 2017
  • Table 26: GLOBAL MARKET FORECAST FOR AROMA CHEMICALS USED IN FLAVORINGS AND FRAGRANCES, BY REGION, THROUGH 2017
  • Table 27: GLOBAL MARKET FORECAST FOR BENZENOID USED IN FLAVORINGS AND FRAGRANCES, BY PRODUCT, THROUGH 2017
  • Table 28: GLOBAL MARKET FORECAST FOR BENZENOID USE IN FRAGRANCES AND FLAVORS BY REGION, THROUGH 2017
  • Table 29: GLOBAL MARKET FORECAST FOR TERPENE USE IN FLAVORS AND FRAGRANCES BY PRODUCT, THROUGH 2017
  • Table 30: GLOBAL MARKET FORECAST FOR TERPENE USE IN FLAVORS AND FRAGRANCES BY REGION, THROUGH 2017
  • Table 31: GLOBAL MARKET FORECAST FOR MUSK CHEMICAL USE IN FLAVORINGS AND FRAGRANCES BY PRODUCT, THROUGH 2017
  • Table 32: GLOBAL MARKET FORECAST FOR MUSK CHEMICALS, BY REGION, THROUGH 2017
  • Table 33: GLOBAL MARKET VOLUMES FOR MISCELLANEOUS AROMA CHEMICALS USED IN FLAVORINGS AND FRAGRANCES BY MAJOR PRODUCT TYPE, THROUGH 2017
  • Table 34: GLOBAL MARKET FORECAST FOR AROMA CHEMICALS (MISCELLANEOUS) BY REGION, THROUGH 2017
  • Table 35: PATENT ANALYSIS FOR SELECTED ORGANIZATIONS, 1976-MARCH 2012
  • Table 36: MARKET SHARE OF INDUSTRY LEADERS IN THE FLAVOR AND FRAGRANCE INDUSTRY, 2011
  • Table 37: HISTORICAL DEVELOPMENT OF T. HASEGAWA
  • Table 38: HISTORICAL DETAILS OF INTERNATIONAL FLAVORS AND FRAGRANCES
  • Table 39: HISTORICAL DEVELOPMENT OF ROBERTET
  • Table 40: MILESTONES IN THE HISTORY OF SYMRISE
  • Table 41: HISTORICAL DEVELOPMENTS OF TAKASAGO
  • Table 42: MAJOR FLAVOR AND FRAGRANCE ASSOCIATIONS

List of Figures

  • Summary Figure: GLOBAL MARKET FORECAST FOR KEY INGREDIENTS USED IN FLAVORS AND FRAGRANCES, 2011-2017
  • Figure 1: GLOBAL FLAVOR AND FRAGRANCE MARKET, 2011
  • Figure 2: GLOBAL FLAVOR AND FRAGRANCE MARKET BY REGION, 2011
  • Figure 3: GLOBAL FRAGRANCE END-USE MARKETS, 2011
  • Figure 4: GLOBAL MARKET FOR FRAGRANCE USE IN COSMETICS AND TOILETRIES BY PRODUCTS, 2011
  • Figure 5: GLOBAL COSMETICS AND TOILETRIES END-USE MARKETS, BY REGION, 2011
  • Figure 6: GLOBAL FLAVOR END-USE MARKET, 2011
  • Figure 7: GLOBAL END-USE MARKET FOR FLAVORS IN BEVERAGES BY PRODUCT, 2011
  • Figure 8: GLOBAL MARKET FOR BEVERAGE TYPES, 2011
  • Figure 9: GLOBAL MARKET FOR FLAVORS IN OTHER END-USE MARKETS, 2011
  • Figure 10: GLOBAL MARKET SHARES OF THE CONFECTIONERY INDUSTRY, BY REGION, 2011
  • Figure 11: GLOBAL MARKET SHARES OF THE BAKED GOODS INDUSTRY, BY REGION, 2011
  • Figure 12: MARKET SHARES OF INGREDIENTS USED IN FLAVORINGS AND FRAGRANCES, 2011
  • Figure 13: GLOBAL MARKET SHARES OF ESSENTIAL OILS, BY REGION, 2011
  • Figure 14: GLOBAL MARKET FOR AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES, 2011
  • Figure 15: GLOBAL MARKET FOR BENZENOIDS USED IN FLAVORS AND FRAGRANCES, 2011 TO 2017
  • Figure 16: GLOBAL MARKET VOLUMES FOR TERPENE USE IN FLAVORS AND FRAGRANCES, 2011 TO 2017
  • Figure 17: GLOBAL SYNTHETIC MUSK MARKET, 2011
  • Figure 18: TREND- IN NUMBER OF U.S. PATENTS ISSUED ANNUALLY FOR FLAVORS, 1976 - 2010
  • Figure 19: GENERAL TRENDS OF U.S. PATENTS ISSUED FOR FRAGRANCES, 1976 - 2010
  • Figure 20: PATENT ANALYSIS FOR SELECTED ORGANIZATIONS, 1976-MARCH 2012
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