Global Flavors & Fragrances Industry : Key Trends, Challenges and Standardization 2016-2020

Flavors can be used to improve or enhance the natural flavors of foods and is determined mainly by the chemical senses of taste while fragrance is determined by smell. The flavors and fragrances of food items, household items or air care can be altered by mixing with chemicals and extracts. The increasing prosperity, urban lifestyle and the emergence of developing economies has led the people to look for more variety of flavors and fragrances.

The competition in this industry is high and the top four companies hold more than half of the total market share. The companies need to be more research focused in order to stay in the competition since the market is growing and many new products are in the market at very competitive prices for increased penetration. The organizations in the industry are focusing on densely populated and quickly growing regions of the world.

The key factors driving the growth of flavor & fragrance market are accelerating economic growth, increasing urban population, rising global population and increase in demand for packaged foods. Some of the noteworthy trends and developments of this industry are increasing health consciousness, growth along FMCG sector and rise of vegetarianism, increasing demand from emerging economies, decision making trends and growing demand for natural ingredients. However, the expansion of flavor & fragrance market is hindered by negative effect of products and procurement risks, entry barriers and legal regulations.

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The report “Global Flavors and Fragrances Market: Industry Analysis and Outlook (2016-2020)” provides an in-depth analysis of the market on a global scale discussing its major segments. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The industry comprises few large players such as Givaudan, IFF and Symrise. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth.

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