The market is driven by companies that manufacture food
and beverages, toiletries, perfumes, cosmetics and household products, the global
flavors and fragrances market is expected to grow at a compound annual growth rate
(CAGR) of 6.3% and reach US$44.6 billion by 2022 from $27.4 billion in 2014.
Emerging Middle Class in Developing Countries acts as the
growth factor of the market. Whereas factors such as huge raw material prices
acts as restrains for growth of the market. Increasing demand for natural
flavors is the key trend of the market. High disposable income of consumer,
increase in lifestyle adding to the boom of this market.
Flavors and Fragrances Market is segmented by technology,
by application, by product and by geography. Depending on the various
technologies, market is categorized into Cold Extraction Technology,
Conventional Technologies, Supercritical Fluid Extraction, Enzymatic Routes and
Flavor Encapsulation. Based on product, market is classified as Flavor Blends,
Fragrance Blendsv and Aroma Chemicals. Based on applications, market is
segregated as Beverages, Confectionary and Bakery Products, Dairy Products,
Oral Care, Cosmetics and Toiletries, Soap & Detergent, Household and Other
Products. By geography,the market is segmented into North America, Europe,
Asia-Pacific and Rest of the World. North America and Europe were the largest
regions in terms of consumption of flavor and fragrance.
The key players in the Flavors and Fragrances Market
include Agilex Flavors & Fragrances Inc., Art & Fragrance Sa, Bell
Flavors & Fragrances Inc., Comax Manufacturing Corp., International Flavors
& Fragrances Inc., Interparfums Inc., Jacques Bogart Sa, Robertet Sa,
Sensient Technologies Corp. and Symrise Ag.
For more information visit: http://www.marketresearchreports.com/stratistics-mrc/global-flavors-and-fragrances-market-outlook-2014-2022
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