1. Global Markets for Flavors and Fragrances
Report Details:
Published:May 2012
No. of Pages: 153
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REPORT HIGHLIGHTS
•The worldwide flavor and fragrance market was worth an estimated $21.8 billion in 2011. This
figure is projected to exceed $23 billion in 2012 and $30 billion in 2017, a compound annual
growth rate (CAGR) of 5.6% between 2012 and 2017.
•The global market for fragrances was worth $11.2 billion in 2011. This figure is projected to
exceed $11.9 billion in 2012 and $15.7 billion in 2017, a CAGR of 5.8%.
•The global flavor industry was worth $10.6 billion in 2011. This market is expected to grow to
nearly $11.1 billion in 2012 and $14.5 billion in 2017, a CAGR of 5.4%.
INTRODUCTION
OBJECTIVES AND GOALS OF STUDY
This report is an updated edition of an earlier (2006) BCC Research report. Its objective is to
provide the reader with a comprehensive analysis of the market environment, competitive
structure and end-use markets of the flavor and fragrance industry, based on more recent
available data. Technological developments, future trends and emerging opportunities within the
industry are thoroughly examined. The information provided in this report will be of great value to
those involved in strategic planning, marketing, sales and technological development.
Specific goals of this study are to
•Assess recent technology developments.
•Identify demand drivers.
•Make available the most current and reliable information on the consumption of flavors and
fragrances in different end-use sectors.
•Project the future demand through 2017, including application regional segments.
•Quantify current and projected demand for key flavor and fragrance ingredients such as essential
oils and aroma chemicals.
•Analyze developments in the structure of the flavor and fragrance industry.
REASONS FOR DOING THE STUDY
Markets for constituents of flavors and fragrance are undergoing significant changes. Some of the
factors influencing the markets are as follows:
•Newer flavors and fragrances.

2. •Newer methods of manufacturing ingredients, including biotechnological routes.
•Changing tastes and styles due to growth in markets for ethnic flavors.
•Advances in science and development of new materials.
•Trend toward the use of more natural products.
•Demand from increasing middle and affluent classes in developing countries such as China and
India.
•Increasing supplies from developing countries that will influence the raw material prices for the
flavor and fragrance industry.
Given these conditions, there is a need for a current, comprehensive report on the flavor and
fragrance market covering the areas of technology, demand trends, project opportunities and
investment levels.
The report examines the commercial applications currently practiced worldwide in conjunction with
their respective markets and growth opportunities. An evaluation of the viability of the market
penetration for the newer grades of materials, as well as their applications and salability, is also
included in this study.
This study gives a clear, quantitative picture of the supply and demand scenario while evaluating
technological and investment opportunities in the field.
SCOPE OF STUDY
This study covers global markets for materials used in the flavor and fragrance industry. It
analyzes the market by both the end-use markets and the major types of materials used within the
industry, covering both synthetic and natural ingredients.
The study also discusses the emerging trends of these industries and technological developments,
including some of the patents in the field. It also looks into the regulatory roles governing the
industry and some of the testing typically used by manufacturers to comply with the regulations for
producing safe products. It provides market shares of major companies and provides the profiles
and contact information of industry leaders in the field.
TARGET AUDIENCE
This study will be of great interest to those interested in the commercial aspects of the flavor and
fragrance industry or for businesses and investors interested in assessing the scope of the field.
The readers are likely to hold positions in strategic planning, new business development,
marketing, product management, sales or analysts/investment advisors. Research scientists
interested in pursuing the industrial applications of enzymes will also find this study of value.
METHODOLOGY
This study is based on exhaustive primary and secondary research in addition to the information in
our in-house database. The primary research includes consultation with industry experts in the
field, including contacts with companies actively involved in this field and with trade associations.
Secondary research includes extensive review of the literature, including trade journals, seminar
proceedings, patent literature, company literature, published reports and government publications.
ANALYSTS’ CREDENTIALS
The study on which this updated report is based was carried out by a team of chemical
engineering consultants led by senior consultant, N.S. Venkataraman, a chemical engineer with
more than 30 years of experience in various positions relating to chemical, pharmaceutical and

3. related industries. Other team members included D. Panneerselvam, T.K. Parija, P.
Govindanayagi and K. Geetha. All the members of the team are practicing chemical engineers or
chemists with extensive experience as business consultants in chemical and related industries.
The analyst responsible for updating the report is Andrew McWilliams, a partner in the
Boston–based international technology and marketing consulting firm, 43rd Parallel LLC.
McWilliams is the author or co-author of numerous other BCC studies, including such recent
studies as AVM016F Sol-Gel Processing of Ceramics and Glass; AVM078A New Electronic
Materials and Device Technologies: Global Markets; AVM015F High-Performance Ceramic
Coatings: Markets and Technologies; HLC014E Global Markets for Telemedicine Technologies;
and CHM020D Catalysts for Environmental and Energy Applications.
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Major points covered in Table of Contents of this report include
Table of Contents
Chapter- 1: INTRODUCTION
OBJECTIVES AND GOALS OF STUDY
REASONS FOR DOING THE STUDY
SCOPE OF STUDY
TARGET AUDIENCE
METHODOLOGY
ANALYSTS’ CREDENTIALS
RELATED BCC PUBLICATIONS
BCC ON-LINE SERVICES
DISCLAIMER
Chapter- 2: SUMMARY
Table Summary : GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES,
THROUGH 2017
Figure Summary : GLOBAL MARKET FORECAST FOR KEY INGREDIENTS USED IN FLAVORS
AND FRAGRANCES, 2011-2017
Chapter- 3: OVERVIEW
TYPES OF INGREDIENTS
SYNTHETIC INGREDIENTS
NATURAL INGREDIENTS
HISTORICAL OVERVIEW
Chapter- 4: TECHNOLOGY OVERVIEW
CONVENTIONAL TECHNOLOGIES
ENZYMATIC ROUTES
CHEMICAL METHODS
FLAVOR ENCAPSULATION

4. Chapter- 5: FLAVOR AND FRAGRANCE INDUSTRY BY END-USE MARKETS
REGIONAL MARKETS FOR FLAVOR AND FRAGRANCE MATERIALS
FRAGRANCE MARKETS
END-USE MARKETS FOR FLAVORINGS
Table 11 : GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES BY REGION,
THROUGH 2017
Figure 2 : GLOBAL FLAVOR AND FRAGRANCE MARKET BY REGION, 2011
Chapter- 6: MARKET BY INGREDIENT PRODUCTS
ESSENTIAL OILS
AROMA CHEMICALS
Table 23 : GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORINGS AND
FRAGRANCES, THROUGH 2017
Chapter- 7: ENVIRONMENTAL REGULATIONS
REGULATORY REQUIREMENTS FOR FLAVORS
REGULATORY REQUIREMENTS FOR FRAGRANCES
Chapter- 8: INDUSTRY TRENDS
ECONOMIC TRENDS AND MARKET CONDITIONS
APPLICATION DEVELOPMENT
RAW MATERIAL SOURCING
COMPARISON OF NATURAL VERSUS SYNTHETICS
FLAVOR AND FRAGRANCE COMPANIES’ RANGE OF PRODUCTS
BUSINESS CHARACTERISTICS
BUSINESS STRATEGIES
MERGERS AND ACQUISITIONS
CRITICAL AREAS OF FOCUS
Chapter- 9: PATENT ANALYSIS AND PATENT AND TECHNOLOGY DESCRIPTIONS
INTRODUCTION
PATENT ACTIVITY FOR FLAVORS AND FRAGRANCES
TRENDS BY ASSIGNEE
PATENT AND TECHNOLOGY CLASSIFICATION
Chapter- 10: PROFILES OF INDUSTRY LEADERS
FIRMENICH
FLAVORS & FRAGRANCES GROUP (SENSIENT TECHNOLOGIES)
FRUTAROM
GIVAUDAN
T. HASEGAWA
INTERNATIONAL FLAVORS & FRAGRANCES (IFF)
MANE
ROBERTET
SYMRISE (FORMERLY DRAGOCO)
TAKASAGO
OTHER ORGANIZATIONS

5. List of Tables
Summary Table : GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES,
THROUGH 2017
Table 1 : SYNTHETIC BENZENOIDS USED IN FLAVORS AND FRAGRANCES
Table 2 : SYNTHETIC TERPENES OR TERPENOIDS USED IN FLAVORS AND FRAGRANCES
Table 3 : MISCELLANEOUS SYNTHETIC AROMA CHEMICALS USED IN FLAVORS AND
FRAGRANCES
Table 4 : PLANTS AS SOURCES OF ESSENTIAL OILS
Table 5 : ESSENTIAL OILS USED IN FLAVORS AND FRAGRANCES
Table 6 : NATURAL BENZENOIDS USED IN FLAVORS AND FRAGRANCES
Table 7 : TERPENES OR TERPENOIDS USED IN FLAVORS AND FRAGRANCES
Table 8 : MISCELLANEOUS AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES
Table 9 : TIME LINE OF THE DEVELOPMENT OF FLAVORS AND FRAGRANCES
Table 10 : GLOBAL MARKET FORECAST FOR FLAVOR AND FRAGRANCE END-USE
MARKETS, THROUGH 2017
Table 11 : GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES BY REGION,
THROUGH 2017
Table 12 : GLOBAL MARKET FORECAST FOR FRAGRANCES BY END-USE MARKET,
THROUGH 2017
Table 13 : GLOBAL MARKET FORECAST FOR FRAGRANCES IN COSMETICS AND
TOILETRIES BY PRODUCT, THROUGH 2017
Table 14 : GLOBAL END-USE MARKET VOLUMES FOR COSMETICS AND TOILETRIES BY
REGION, 2011
Table 15 : GLOBAL MARKET FORECAST FOR FLAVORINGS BY END-USE MARKET,
THROUGH 2017
Table 16 : GLOBAL END-USE MARKET FORECAST FOR FLAVORS IN BEVERAGES BY
PRODUCT, THROUGH 2017
Table 17 : GLOBAL MARKET VOLUMES FOR BEVERAGE TYPES, 2011
Table 18 : GLOBAL MARKET FORECAST FOR FLAVORINGS IN OTHER END-USE MARKETS,
THROUGH 2017
Table 19 : GLOBAL MARKET VOLUMES FOR CONFECTIONERY INDUSTRY, BY REGION,
2011
Table 20 : GLOBAL MARKET VOLUMES FOR THE BAKED GOODS INDUSTRY, BY REGION,
2011
Table 21 : GLOBAL MARKET FORECAST FOR MAJOR INGREDIENTS USED IN FLAVORINGS
AND FRAGRANCES, THROUGH 2017
Table 22 : GLOBAL MARKET FORECAST FOR ESSENTIAL OILS AND AROMATICS USED IN
FLAVORINGS AND FRAGRANCES BY REGION, THROUGH 2017
Table 23 : GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORINGS AND
FRAGRANCES, THROUGH 2017
Table 24 : GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORS AND
FRAGRANCES BY REGION, THROUGH 2017

6. Table 25 : GLOBAL MARKET FORECAST FOR AROMA CHEMICALS USED IN FLAVORINGS
AND FRAGRANCES BY PRODUCT, THROUGH 2017
Table 26 : GLOBAL MARKET FORECAST FOR AROMA CHEMICALS USED IN FLAVORINGS
AND FRAGRANCES, BY REGION, THROUGH 2017
Table 27 : GLOBAL MARKET FORECAST FOR BENZENOID USED IN FLAVORINGS AND
FRAGRANCES, BY PRODUCT, THROUGH 2017
Table 28 : GLOBAL MARKET FORECAST FOR BENZENOID USE IN FRAGRANCES AND
FLAVORS BY REGION, THROUGH 2017
Table 29 : GLOBAL MARKET FORECAST FOR TERPENE USE IN FLAVORS AND
FRAGRANCES BY PRODUCT, THROUGH 2017
Table 30 : GLOBAL MARKET FORECAST FOR TERPENE USE IN FLAVORS AND
FRAGRANCES BY REGION, THROUGH 2017
Table 31 : GLOBAL MARKET FORECAST FOR MUSK CHEMICAL USE IN FLAVORINGS AND
FRAGRANCES BY PRODUCT, THROUGH 2017
Table 32 : GLOBAL MARKET FORECAST FOR MUSK CHEMICALS, BY REGION, THROUGH
2017
Table 33 : GLOBAL MARKET VOLUMES FOR MISCELLANEOUS AROMA CHEMICALS USED
IN FLAVORINGS AND FRAGRANCES BY MAJOR PRODUCT TYPE, THROUGH 2017
Table 34 : GLOBAL MARKET FORECAST FOR AROMA CHEMICALS (MISCELLANEOUS) BY
REGION, THROUGH 2017
Table 35 : PATENT ANALYSIS FOR SELECTED ORGANIZATIONS, 1976-MARCH 2012
Table 36 : MARKET SHARE OF INDUSTRY LEADERS IN THE FLAVOR AND FRAGRANCE
INDUSTRY, 2011
Table 37 : HISTORICAL DEVELOPMENT OF T. HASEGAWA
Table 38 : HISTORICAL DETAILS OF INTERNATIONAL FLAVORS AND FRAGRANCES
Table 39 : HISTORICAL DEVELOPMENT OF ROBERTET
Table 40 : MILESTONES IN THE HISTORY OF SYMRISE
Table 41 : HISTORICAL DEVELOPMENTS OF TAKASAGO
Table 42 : MAJOR FLAVOR AND FRAGRANCE ASSOCIATIONS
List of Figures
Summary Figure : GLOBAL MARKET FORECAST FOR KEY INGREDIENTS USED IN FLAVORS
AND FRAGRANCES, 2011-2017
Figure 1 : GLOBAL FLAVOR AND FRAGRANCE MARKET, 2011
Figure 2 : GLOBAL FLAVOR AND FRAGRANCE MARKET BY REGION, 2011
Figure 3 : GLOBAL FRAGRANCE END-USE MARKETS, 2011
Figure 4 : GLOBAL MARKET FOR FRAGRANCE USE IN COSMETICS AND TOILETRIES BY
PRODUCTS, 2011
Figure 5 : GLOBAL COSMETICS AND TOILETRIES END-USE MARKETS, BY REGION, 2011
Figure 6 : GLOBAL FLAVOR END-USE MARKET, 2011
Figure 7 : GLOBAL END-USE MARKET FOR FLAVORS IN BEVERAGES BY PRODUCT, 2011
Figure 8 : GLOBAL MARKET FOR BEVERAGE TYPES, 2011
Figure 9 : GLOBAL MARKET FOR FLAVORS IN OTHER END-USE MARKETS, 2011

7. Figure 10 : GLOBAL MARKET SHARES OF THE CONFECTIONERY INDUSTRY, BY REGION,
2011
Figure 11 : GLOBAL MARKET SHARES OF THE BAKED GOODS INDUSTRY, BY REGION,
2011
Figure 12 : MARKET SHARES OF INGREDIENTS USED IN FLAVORINGS AND FRAGRANCES,
2011
Figure 13 : GLOBAL MARKET SHARES OF ESSENTIAL OILS, BY REGION, 2011
Figure 14 : GLOBAL MARKET FOR AROMA CHEMICALS USED IN FLAVORS AND
FRAGRANCES, 2011
Figure 15 : GLOBAL MARKET FOR BENZENOIDS USED IN FLAVORS AND FRAGRANCES,
2011 TO 2017
Figure 16 : GLOBAL MARKET VOLUMES FOR TERPENE USE IN FLAVORS AND
FRAGRANCES, 2011 TO 2017
Figure 17 : GLOBAL SYNTHETIC MUSK MARKET, 2011
Figure 18 : TREND- IN NUMBER OF U.S. PATENTS ISSUED ANNUALLY FOR FLAVORS,
1976–2010
Figure 19 : GENERAL TRENDS OF U.S. PATENTS ISSUED FOR FRAGRANCES, 1976–2010
Figure 20 : PATENT ANALYSIS FOR SELECTED ORGANIZATIONS, 1976-MARCH 2012
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