The global flavors and fragrances market is growing on the back of incessantly increasing. For more mail: vikas@konceptanalytics.com

1. Global Flavors and Fragrances Market
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2014
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2. Executive Summary
The F&F market is part of a larger market which supplies a variety of ingredients and components that consumer products companies
utilize in their products. The broader market includes large multinational companies and smaller regional and local participants which
supply products such as seasonings, texturizers, spices, enzymes, fortified products and cosmetic ingredients. Companies in F&F
market are targeting their activities towards highly populated and rapidly expanding regions of the world like Asia Pacific, Latin
America, Middle East and Africa. North America constituted the largest market for flavors and fragrances followed by Asia-Pacific,
Western Europe and South America. It is projected that Asia-Pacific will gradually overtake North America due to the much faster
growth anticipated for this region.
The global flavors and fragrances market is growing on the back of incessantly increasing demand from emerging markets, rising
preference of packaged foods and beverages and escalating cosmetics industry. Ameliorating global economic development and
emerging middle class population are other major factors which are bolstering the respective market. Ongoing mergers and
acquisitions, changing consumer drinking habits and demand for convenience and differentiation are the significant trends observed in
the F&F market. However, there are many factors which hinder the growth of respective industry, some of which are high research and
development cost, regulatory risks, significant barriers to entry and fluctuating raw material prices.
This report offers a comprehensive analysis of the worldwide flavors and fragrances market, along with an in-depth study of each of its
segments. The report also includes the detailed description of global fine ingredients market. The global flavors and fragrances
industry is characterized by its dynamic structure and intense competition among the companies operating here. To remain
competitive, players continue to invest highly on research and development and develop new products. Givaundan is the market
leader in global F&F industry followed by Firmenich, IFF, Symrise, Takasago, Wild Flavors, Mane SA, Sensient Flavors and Frutarom.
The competitive landscape along with the company profiles of the leading players in the market is discussed in detail.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of
the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS
Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several
independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and
tests.
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3. The flavor and fragrance industry (F&F) consists of intermediary products to cater to the needs of its
customers.
• Fragrances are the key components used in perfumes, beauty
care, fabric care, personal wash and home care products. The
global fragrance market revenues estimated to reach US$.. billion
in 2013, recording a significant increase of ..% from US$... billion in
the previous year.
• Flavor and fragrance manufacturers use fine ingredients products
as the building blocks for the flavor and fragrance compounds they
manufacture. The global fine ingredients market revenues
increased from US$... billion in 2009 to US$... billion in 2013,
representing a CAGR of …%.
• The worldwide market of flavors and fragrances consists of the
traditional market of flavors and fragrances and the upcoming
market of fine ingredients which includes aroma chemicals and
other cosmetic ingredients. Fragrances are expected to have the
highest share of ….% in 2013 .
Segmentation of F&F Market (2013E)Global Fine Ingredients Market Revenues (2009-2013E)
Global Fragrance Market Revenues (2009-2013E)
2009 2010 2011 2012 2013E
US$Billion
2009
2010
2011
2012
2013E
US$Billion
Flavors Fragrances Fine Ingredients

4. The global F&F market is growing on the back of incessantly increasing demand from emerging markets,
rising preference of packaged foods and beverages and escalating cosmetics industry.
• The global food and beverage industry in estimated to increase
from US$.... trillion tons in 2012 to US$.... million tons in 2013
witnessing an annual growth of …..%. The market has grown at a
CAGR of ….% for the period spanning 2006-2013.
• The global retail volume sales for packaged food reached
…million tons in 2013 from … million tons in 2006, representing a
CAGR of …%. This has created new opportunities for flavor
manufacturers for creating food texture, taste and shelf life.
• North America constituted the largest market for flavors and
fragrances with a market share of …%. Asia-Pacific accounted for
…% of market share with demand coming from developing markets
like India, China, Singapore and Indonesia. Western Europe has a
market share of …% followed by South America, Middle East &
Africa and Eastern Europe.
Global Flavor and Fragrance Consumption by Region (2013)
Global Packaged Food Retail Volume (2006-2013E)
Global Food and Beverage Industry – by Value (2006-2013E)
2006 2007 2008 2009 2010 2011 2012 2013E
US$Trillion
North America Asia Pacific Western Europe
South America Middle East & Africa Eastern Europe
2006 2007 2008 2009 2010 2011 2012 2013E
MillionTons

5. Ongoing mergers and acquisitions, changing consumer drinking habits and demand for convenience and
differentiation are the significant trends observed in the F&F market.
• Fragrances are a main component in cosmetics and make-up
products. The global cosmetics market is estimated to grow from
US$... billion in 2006 to US$... billion in 2013, recording a CAGR of
…%.
• Flavors are used in a variety of beverage types ranging from
carbonated, noncarbonated, and alcoholic beverages to juices and
other functional drinks and thus form the largest share of ….% in
2013. Dairy industry is the second largest end-use market for
flavors that had a market share of …%.
• As of 2013, the soap and detergents industry is the largest user of
fragrances in the global market at …% share, followed by the
cosmetics and toiletries sector at …% and fine fragrances at ….%.
The fastest annual growth to 2017 is forecast for the cosmetics and
toiletries sector at …% per annum, followed by the soaps and
detergents segment at …% per annum.
Share of End Use Applications of Fragrances (2013)Share of End Use Applications of Flavors (2013)
Global Cosmetics Market (2006-2013E)
Beverages Diary Bakery
Convenience Food Confectionary Meat
Sacks Oral Others
2006 2007 2008 2009 2010 2011 2012 2013E
US$Billion
Soaps & Detergents
Cosmectic & Toiletries
Fine Fragrances
Household Cleaners & Air Freasheners
Others

6. Companies in F&F market are targeting their activities towards highly populated and rapidly expanding
regions of the world like Asia Pacific, Latin America, Middle East and Africa.
 The global flavor and fragrance market is forecasted to grow at a CAGR of ….% over the period 2012-2017 and will reach US$.... billion by
the end of 2017. The factors driving the growth of the flavor and fragrance market include the improving economic conditions and rising
disposable income in emerging markets like India, China, Brazil which have in turn led to an increased use of consumer products utilizing
flavors and fragrances. The key factors to support the growth of the industry include growth of end user markets of flavors and fragrances such
as food and beverage market, cosmetics market, and pharmaceutical industry, among others.
 Flavor products are sold primarily to producers of prepared food, beverages, dairy, bakery, processed meat and fish products, confectionery,
oral hygiene, pharmaceutical products, animal feed and tobacco products. The revenues from flavors segment witness a minor decline from
US$... billion in 2012 to US$.... billion in 2013. However, the market is anticipated to increase in the future on account of renewed momentum
in beverages, continued vitality in sweet goods and sales gains in savory foods.
 The worldwide market of flavors and fragrances consists of the traditional market of flavors and fragrances and the upcoming market of fine
ingredients which includes aroma chemicals and other cosmetic ingredients. Fragrances are expected to have the highest share of …% in
2013 compared to …% in 2012. Share of flavors increased to …% in 2013 from % in previous year. Fine ingredients, essentially used by flavor
and fragrance manufacturers as the building blocks for the flavor and fragrance compounds they manufacture, had a share of ..% in 2013.
Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa
2012
2013
2014F
2015F
2016F
2017F
US$Billion
Global Flavors and Fragrance Market Forecast (2012-2017E)
2009
2010
2011
2012
2013E
US$Billion
Global Flavor Market Revenues (2009-2013E)

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