Natural Flavors And Fragrances Market Growth & Trends
The global natural flavors and fragrances market size is expected to reach USD 15.83 billion by 2030, registering a CAGR of 6.3% during the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the increasing awareness about the adverse effects caused by artificial as well as synthetic products used in the cosmetics and food & beverages industry. In addition, the availability of natural products as an alternative is propelling the market growth. Natural flavors & fragrances are now widely accepted by industries like food & beverage, cosmetic & personal care, and pharmaceuticals. The growing population has been increasing the consumption of food & beverages, cosmetic & personal care products, and pharmaceuticals and is likely to further escalate the consumption in the near future. The global industry is anticipated to grow at a steady CAGR over the forecast period due to the presence of major players that are utilizing natural flavors & fragrances in their products.
Companies, such as BASF SE, Blue Pacific Flavours, Inc., BIOLANDES SAS, and Symrise AG, are some major manufacturers. Governments tend to be more flexible in the use of natural products over synthetic counterparts and provide elasticity in their use and consumption for various purposes. The COVID-19 pandemic has resulted in many changes in the industry, such as the collapsed supply chain system and restrictions on transportation. Many large- and small-scale organizations had to shut down their production for several months during the pandemic. This factor slowed down the industry growth and limited production & supply. Furthermore, the outbreak led to the shutdown of hotels, restaurants, retail stores, and eateries, thereby lowering the consumption of natural flavors & fragrances in the food & beverage industry.
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Natural Flavors And Fragrances Market Report Highlights
- The essential oils segment is expected to witness the fastest growth rate from 2022 to 2030 owing to the increasing consumer preference for natural & organic products from various end-use industries like food & beverages and cosmetics
- The extraction process segment will have the fastest CAGR from 2022 to 2030 since it ensures hydrolysis of water-sensitive compounds & ensures superior quality of products as it operates efficiently under higher temperatures and requires a shorter extraction time
- The flavors application segment is expected to witness the fastest CAGR over the forecast period due to wide product usage in the global food & beverages industry
- Asia Pacific is expected to witness the fastest growth rate of 6.8%, owing to large demand from countries such as India, and China which are considered pioneers and some of the largest exporters of some precious oils and extracts
- The competition in the industry is high due to the presence of several large-scale manufacturers, such as BASF SE and MANE, which are engaged in the production of naturally-derived fragrances & flavors
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Natural Flavors And Fragrances Market Segmentation
Grand View Research has segmented the global natural flavors and fragrances market based on product, technology, application, and region:
Natural Flavors And Fragrances Product Outlook (Revenue, USD Million, 2018 - 2030)
- Essential Oils
- Orange
- Corm Mint
- Eucalyptus
- Pepper Mint
- Lemon
- Citronella
- Patchouli
- Clove
- Ylang/Ylang Cananga
- Lavender
- Others
- Oleoresins
- Paprika
- Black Pepper
- Turmeric
- Ginger
- Others
- Dried Crops
- Herbal Extracts
- Others
Natural Flavors And Fragrances Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Fermentation
- Extraction
- Distillation
- Others
Natural Flavors And Fragrances Application Outlook (Revenue, USD Million, 2018 - 2030)
- Flavors
- Confectionery
- Convenience Food
- Bakery Food
- Dairy Food
- Beverages
- Animal Feed
- Others
- Fragrances
- Fine Fragrances
- Cosmetics & Toiletries
- Soaps & Detergents
- Aromatherapy
- Others
Natural Flavors And Fragrances Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- France
- Spain
- Portugal
- Turkey
- Asia Pacific
- China
- India
- Japan
- Southeast Asia
- Central & South America
- Brazil
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
List of Key Players in Natural Flavors And Fragrances Market
- MANE
- Keva Flavours Pvt. Ltd.
- DOHLER GmbH
- Blue Pacific Flavours, Inc.
- Stringer Flavours Ltd.
- BIOLANDES
- Young Living Essential Oils, LC.
- d? TERRA
- Falcon
- BASF SE
- Symrise
- Firmenich SA
- Givaudan
- International Flavors & Fragrances Inc.
- FLAVEX Naturextrakte GmbH
- Universal Oleoresins
- Manohar Botanical Extracts Pvt. Ltd.
- Sensient Technologies
- Takasago International Corporation
- HASEGAWA CO., LTD.
- ROBERTET
- McCormick & Company, Inc.
- Kerry Group plc
- ADM
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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