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 $14.5 billion in 2017, a CAGR of 5.4%.
GLOBAL MARKET FORECAST FOR KEY INGREDIENTS USED IN
FLAVORS AND FRAGRANCES, 2011-2017 ($ MILLIONS)
Source: BCC Research
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.
Markets for constituents of flavors and fragrance are undergoing significant changes.
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.
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.
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.