The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Flavors And Fragrances Global Market Report 2023, the flavors and fragrances market is expected to show significant growth in the forecast period.

Key insights from the flavors and fragrances market forecast include:

1. Market Size

The global flavors and fragrances market is expected to grow from $31.84 billion in 2022 to $33.39 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The market size of the flavors and fragrances market is expected to grow to $40.26 billion in 2027 at a CAGR of 4.8%.

2. Major Driver

The flavors and fragrances market is being driven by the consumers’ rising preference for convenience foods. A study published in the Current Journal of Applied Science and Technology found that In March 2020, the majority of working women, 41.7%, spent more than 30% of their total food spending on convenience foods, while non-working women, 55%, spent only 10 to 20%, indicating a larger consumption of convenience foods by working women. As a result, the rising popularity of convenience foods is likely to drive demand for flavors and fragrances during the forecast period.

View More On The Flavors And Fragrances Market Report 2023 – https://www.thebusinessresearchcompany.com/report/flavors-and-fragrances-global-market-report

3. Key Trend

The increasing use of natural components in the production of flavors and fragrances is a key trend that is gaining traction in the flavors and fragrances sector. Natural flavors and fragrances are fragrant items made from natural sources that do not contain any artificial ingredients. To address end-customer expectations and increase their market position, players in the flavors and fragrances market are focusing on developing novel natural flavors and fragrances with multifunctional capabilities. For example, International Flavours & Fragrances, Inc., a flavour and fragrance producer based in the United States, will debut GUARDIAN Chelox 30 C, a cost-effective, natural flavour with multifunctional qualities, in North America in July 2021.

4. Major Players

Major players in the flavors and fragrances market are Givaudan, Firmenich SA, International Flavors & Fragrances, Symrise AG, Takasago, The Archer Daniels Midland Company, Sensient Technologies, Robertet, Kerry Group PLC, S H Kelkar Company Limited, Huabao International Holdings Limited, Mane SA, T Hasegawa, Bell Flavors & Fragrances, and Sigma Aldrich.

5. Top Market Segments

The global flavors and fragrances market is segmented –

1) By Type: Flavors, Fragrance

2) By Form: Liquid, Dry

3) By Application: Food & Beverage, Cosmetics & Personal Care, Pharmaceutical, Home & Floor Care, Fine Fragrances, Other Applications

Request A Sample Of The Global Flavors And Fragrances Market Report 2023:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6898&type=smp

The Flavors And Fragrances Global Market Report 2023  provides an in-depth analysis on the flavors and fragrances market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the flavors and fragrances market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Flavoring Syrup And Concentrate Global Market Report 2023
Flavored Yogurt Global Market Report 2023
Home Fragrance Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model