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Global Markets for Flavors and Fragrances

Global Markets for Flavors and Fragrances

The global market for flavors and fragrances was valued at $26.0 billion in 2015. This market is expected to increase from $27.1 billion in 2016 to $37.0 billion in 2021 at a compound annual growth rate (CAGR) of 6.4% for 2016-2021.

This report provides:
An overview of the global markets for flavors and fragrances.
Analyses of global market trends, with data from 2015, estimates for 2016, and projections of compound annual growth rates (CAGRs) through 2021.
Analysis of recent technology developments.
Identification of demand drivers.
Information on the consumption of flavors and fragrances in different end-use sectors.
Projections of future demand including application regional segments of the market.
Projected demand for key flavor and fragrance ingredients such as essential oils and aroma chemicals.
Analysis of developments in the structure of the flavor and fragrance industry.
Profiles of major players in the field


SCOPE OF REPORT

The market is segmented on the basis of application: flavors—beverages, savory foods, dairy, confectionary and bakery products, oral care and other; fragrance— cosmetics and toiletries, soap, detergent and others. This market report organizes information from diverse sources in order to compare natural and synthetic ingredients as well as analyzes the use of raw materials, the flavor and fragrance value chain, regulations, technologies, patent evaluations and Porter’s five forces.

Each ingredient type is analyzed in terms of current global market size. Estimated values used are based on manufacturers’ total revenues. Forecasts with a compound annual growth rate (CAGR) are provided for 2016 to 2021. Projected and forecast revenue values are in constant U.S. dollars, unadjusted for inflation. Product values are estimated based on manufacturers’ revenue. Estimates of the regional markets for flavors and fragrances are based on its applications market. Regional sizing and forecasting are given for North America, Western Europe, Asia and ROW. In addition to the data, the report provides insight on market demand drivers and supplier strategies. Key players are also profiled as well as their market share in global market for flavors and fragrances.

CHAPTER 1 INTRODUCTION
STUDY GOALS AND OBJECTIVES
REASONS FOR DOING THE STUDY
SCOPE OF REPORT
INTENDED AUDIENCE
METHODOLOGY
INFORMATION SOURCES
ANALYST'S CREDENTIALS
RELATED BCC RESEARCH REPORTS
BCC RESEARCH WEBSITE
DISCLAIMER
CHAPTER 2 SUMMARY
SUMMARY TABLE GLOBAL MARKET FOR FLAVORS AND FRAGRANCES BY REGION, THROUGH 2021 ($ MILLIONS)
SUMMARY FIGURE GLOBAL MARKET FOR FLAVORS AND FRAGRANCES BY REGION, 2015-2021 ($ MILLIONS)
CHAPTER 3 OVERVIEW
COMPARISON OF NATURAL VERSUS SYNTHETICS
SYNTHETIC INGREDIENTS
NATURAL INGREDIENTS
RAW MATERIAL ANALYSIS
HISTORICAL OVERVIEW
TABLE 1 TIMELINE OF THE DEVELOPMENT OF FLAVORS AND FRAGRANCES
VALUE CHAIN
FIGURE 1 FLAVOR AND FRAGRANCE VALUE CHAIN
CHAPTER 4 GLOBAL MARKET FOR FLAVORS AND FRAGRANCES BY INGREDIENT TYPE
TABLE 2 GLOBAL MARKET FOR FLAVOR AND FRAGRANCE INGREDIENTS BY TYPE, THROUGH 2021 ($ MILLIONS)
TABLE 3 GLOBAL MARKET FOR FLAVOR AND FRAGRANCE INGREDIENTS BY REGION, THROUGH 2021 ($ MILLIONS)
ESSENTIAL OILS
ESSENTIAL OILS MARKET BY REGION
TABLE 4 GLOBAL MARKET FOR ESSENTIAL OILS USED IN FLAVORS AND FRAGRANCES BY REGION, THROUGH 2021 ($ MILLIONS)
TABLE 5 GLOBAL MARKET FOR ESSENTIAL OILS USED IN FLAVORS AND FRAGRANCES BY PRODUCT, THROUGH 2021 ($ MILLIONS)
TABLE 6 PLANTS AS SOURCES OF ESSENTIAL OILS
TABLE 7 PLANT-PRODUCING REGIONS AND APPLICATIONS
COMMERCIALLY IMPORTANT ESSENTIAL OILS
TABLE 8 ESSENTIAL OILS USED IN FLAVORS AND FRAGRANCES
Davana Oil
Patchouli Oil
Lemongrass Oil
Jasmine Oil
AROMA CHEMICALS
TABLE 9 GLOBAL MARKET FOR AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES BY REGION, THROUGH 2021 ($ MILLIONS)
TABLE 10 GLOBAL MARKET FOR AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES BY TYPE, THROUGH 2021 ($ MILLIONS)
TABLE 11 GLOBAL MARKET FOR AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES BY PRODUCTS, THROUGH 2021 ($ MILLIONS)
TERPENES AND TERPENOIDS
TABLE 12 GLOBAL MARKET FOR TERPENES USED IN FLAVORS AND FRAGRANCES BY PRODUCT, THROUGH 2021 ($ MILLIONS)
TABLE 13 GLOBAL MARKET FOR TERPENES USED IN FLAVORS AND FRAGRANCES BY REGION, THROUGH 2021 ($ MILLIONS)
TABLE 14 SYNTHETIC TERPENES OR TERPENOIDS USED IN FLAVORS AND FRAGRANCES
TABLE 15 NATURAL TERPENES OR TERPENOIDS USED IN FLAVORS AND FRAGRANCES
BENZENOIDS
TABLE 16 GLOBAL MARKET FOR BENZENOIDS USED IN FLAVORS AND FRAGRANCES BY PRODUCT, THROUGH 2021 ($ MILLIONS)
TABLE 17 GLOBAL MARKET FOR BENZENOIDS USED IN FLAVORS AND FRAGRANCES BY REGION, THROUGH 2021 ($ MILLIONS)
TABLE 18 SYNTHETIC BENZENOIDS USED IN FLAVORS AND FRAGRANCES
TABLE 19 NATURAL BENZENOIDS USED IN FLAVORS AND FRAGRANCES
MUSK CHEMICALS
TABLE 20 GLOBAL MARKET FOR MUSK CHEMICALS USED IN FLAVORS AND FRAGRANCES BY PRODUCTS, THROUGH 2021 ($ MILLIONS)
TABLE 21 GLOBAL MARKET FOR MUSK CHEMICALS USED IN FLAVORS AND FRAGRANCES BY REGION, THROUGH 2021 ($ MILLIONS)
MISCELLANEOUS AROMA CHEMICALS
TABLE 22 GLOBAL MARKET FOR MISCELLANEOUS AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES BY PRODUCT, THROUGH 2021 ($ MILLIONS)
TABLE 23 GLOBAL MARKET FOR MISCELLANEOUS AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES BY REGION, THROUGH 2021 ($ MILLIONS)
TABLE 24 MISCELLANEOUS SYNTHETIC AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCES
TABLE 25 NATURAL MISCELLANEOUS AROMA CHEMICAL USED IN FLAVORS AND FRAGRANCES
CHAPTER 5 TECHNOLOGIES
KEY TECHNOLOGIES
CONVENTIONAL TECHNOLOGIES
Separation Technologies
Primary Separation Technologies
Distillation
Steam Distillation
Hydro-Distillation
Solvent Extraction
Secondary Separation Technologies
Fractional Distillation
Liquid-Liquid Extraction
COLD EXTRACTION TECHNOLOGY
SUPERCRITICAL FLUID EXTRACTION
Supercritical Carbon Dioxide
ENFLEURAGE
THERMAL TREATMENT
ENZYMATIC ROUTES
CHEMICAL METHODS
FLAVOR ENCAPSULATION
Spray Drying
Extrusion
Coacervation
Molecular Encapsulation
Submerged Nozzle Encapsulation
TABLE 26 TYPE OF PROTECTION SYSTEM BY FLAVOR USAGE
CHAPTER 6 GLOBAL APPLICATION MARKETS FOR FLAVORS AND FRAGRANCES
TABLE 27 GLOBAL MARKET FOR FLAVORS AND FRAGRANCES BY TYPE, THROUGH 2021 ($ MILLIONS)
FLAVORS
TABLE 28 GLOBAL MARKET FOR FLAVORS BY APPLICATION, THROUGH 2021 ($ MILLIONS)
TABLE 29 GLOBAL MARKET FOR FLAVORS BY REGION, THROUGH 2021 ($ MILLIONS)
BEVERAGES
TABLE 30 GLOBAL MARKET FOR FLAVORS USED IN BEVERAGES BY PRODUCTS, THROUGH 2021 ($ MILLIONS)
TABLE 31 GLOBAL MARKET FOR FLAVORS USED IN BEVERAGES BY REGION, THROUGH 2021 ($ MILLIONS)
FIGURE 2 TOP FIVE FLAVORS IN BEVERAGE CATEGORY
SAVORY FOODS
TABLE 32 GLOBAL MARKET FOR FLAVORS USED IN SAVORY FOODS BY REGION, THROUGH 2021 ($ MILLIONS)
DAIRY PRODUCTS
TABLE 33 GLOBAL MARKET FOR DAIRY PRODUCTS, 2015 (%)
TABLE 34 GLOBAL MARKET FOR FLAVORS USED IN DAIRY PRODUCTS BY REGION, THROUGH 2021 ($ MILLIONS)
CONFECTIONARY AND BAKERY PRODUCTS
TABLE 35 GLOBAL MARKET FOR FLAVORS USED IN CONFECTIONARY AND BAKERY PRODUCTS BY REGION, THROUGH 2021 ($ MILLIONS)
ORAL CARE
OTHER
INDIAN MARKET FOR FLAVORS BY APPLICATION
TABLE 36 INDIAN MARKET FOR FLAVORS BY APPLICATION, THROUGH 2021 ($ MILLIONS)
FRAGRANCES
TABLE 37 GLOBAL MARKET FOR FRAGRANCES BY APPLICATION, THROUGH 2021 ($ MILLIONS)
TABLE 38 GLOBAL MARKET FOR FRAGRANCES BY REGION, THROUGH 2021 (%)
COSMETICS AND TOILETRIES
TABLE 39 GLOBAL MARKET FOR FRAGRANCE USED IN COSMETICS AND TOILETRIES BY PRODUCT, THROUGH 2021 ($ MILLIONS)
TABLE 40 GLOBAL MARKET FOR FRAGRANCES USED IN COSMETICS AND TOILETRIES BY REGION, THROUGH 2021 ($ MILLIONS)
SOAP
TABLE 41 GLOBAL MARKET FOR FRAGRANCES USED IN SOAP BY REGION, THROUGH 2021 ($ MILLIONS)
DETERGENT
HOUSEHOLD AND OTHER PRODUCTS
CHAPTER 7 GLOBAL MARKET FOR FLAVORS AND FRAGRANCES BY REGION
GLOBAL MARKET FOR FLAVORS AND FRAGRANCES
FIGURE 3 GLOBAL MARKET SHARES OF FLAVORS AND FRAGRANCES BY REGION, 2015 (%)
NORTH AMERICA
NORTH AMERICAN MARKET FOR FLAVORS AND FRAGRANCES BY COUNTRY
TABLE 42 NORTH AMERICAN MARKET FOR FLAVORS AND FRAGRANCES BY COUNTRY, THROUGH 2021 ($ MILLIONS)
North American Market for Flavors by Country
TABLE 43 NORTH AMERICAN MARKET FOR FLAVORS BY COUNTRY, THROUGH 2021 ($ MILLIONS)
North American Market for Fragrances by Country
TABLE 44 NORTH AMERICAN MARKET FOR FRAGRANCES BY COUNTRY, THROUGH 2021 ($ MILLIONS)
U.S.
Canada
Mexico
WESTERN EUROPE
WESTERN EUROPEAN MARKET FOR FLAVORS AND FRAGRANCES BY COUNTRY
TABLE 45 WESTERN EUROPEAN MARKET FOR FLAVORS AND FRAGRANCES BY COUNTRY, THROUGH 2021 ($ MILLIONS)
Western European Market for Flavors by Country
TABLE 46 WESTERN EUROPEAN MARKET FOR FLAVORS BY COUNTRY, THROUGH 2021 ($ MILLIONS)
Western European Market for Fragrances by Country
TABLE 47 WESTERN EUROPEAN MARKET FOR FRAGRANCES BY COUNTRY, THROUGH 2021 ($ MILLIONS)
Germany
France
U.K.
Other
ASIA
ASIAN MARKET FOR FLAVORS AND FRAGRANCES BY COUNTRY
TABLE 48 ASIAN MARKET FOR FLAVORS AND FRAGRANCES BY COUNTRY, THROUGH 2021 ($ MILLIONS)
Asian Market for Flavors by Country
TABLE 49 ASIAN MARKET FOR FLAVORS BY COUNTRY, THROUGH 2021 ($ MILLIONS)
Asian Market for Fragrances by Country
TABLE 50 ASIAN MARKET FOR FRAGRANCES BY COUNTRY, THROUGH 2021 ($ MILLIONS)
China
Japan
India
Other
REST OF THE WORLD
ROW MARKET FOR FLAVORS AND FRAGRANCES BY COUNTRY
TABLE 51 REST OF WORLD MARKET FOR FLAVORS AND FRAGRANCES BY COUNTRY, THROUGH 2021 ($ MILLIONS)
South Africa
Brazil
Other
CHAPTER 8 ENVIRONMENTAL REGULATIONS
REGULATION OF FLAVORS
U.S.
WESTERN EUROPE
JAPAN
REGULATION OF FRAGRANCES
ENVIRONMENTAL IMPACT
U.S.
CANADA
EUROPE
JAPAN
CHAPTER 9 INDUSTRY STRUCTURE
FACTORS INFLUENCING DEMAND
TABLE 52 DRIVERS OF MARKET FOR FLAVORS AND FRAGRANCES
CHANGING CONSUMER PREFERENCES
INCREASING DEMAND FOR NATURAL FLAVORS AND FRAGRANCES
SIGNIFICANT TECHNOLOGICAL ADVANCEMENTS
DEMAND FROM DEVELOPING NATIONS
CHALLENGES WITHIN THE FLAVOR AND FRAGRANCE INDUSTRY
HIGH COST OF MIGRATION FROM SYNTHETIC TO NATURAL SOURCES
CONCERNS RELATED TO SYNTHETIC PRODUCTS
LACK OF TRANSPARENCY IN PATENT PROTECTION LAWS
OPPORTUNITIES FOR FLAVOR AND FRAGRANCE COMPANIES
GREENFIELD VENTURES IN LATIN AMERICAN AND ASIAN REGIONS
WIDENING SCOPE OF APPLICATIONS
PORTER'S FIVE FORCES ANALYSIS
FIGURE 4 PORTER'S FIVE FORCES ANALYSIS
BARGAINING POWER OF BUYERS
BARGAINING POWER OF SUPPLIERS
THREATS FROM SUBSTITUTES
THREAT FROM NEW ENTRANTS
COMPETITIVE RIVALRY
CHAPTER 10 MARKET STRATEGIES
STRATEGY BY TYPE
FIGURE 5 DISTRIBUTION OF TYPES OF GROWTH STRATEGIES USED IN THE GLOBAL MARKET FOR FLAVORS AND FRAGRANCES, 2011-2016 (%)
DEVELOPMENTS BY COMPANY
FIGURE 6 GLOBAL MARKET SHARES OF FLAVORS AND FRAGRANCES BY COMPANY, 2011-2016 (%)
NEW PRODUCT DEVELOPMENT
TABLE 53 NEW FLAVOR AND FRAGRANCE PRODUCT LAUNCHES, 2011-2016
MERGERS AND ACQUISITIONS
TABLE 54 MERGERS AND ACQUISITIONS, 2011-2016
PARTNERSHIPS, COLLABORATIONS, JOINT VENTURES AND AGREEMENTS
TABLE 55 PARTNERSHIPS, COLLABORATIONS, JOINT VENTURES AND AGREEMENTS, 2011-2015
EXPANSIONS AND INVESTMENTS
TABLE 56 EXPANSIONS AND INVESTMENTS, 2011-2016
CHAPTER 11 PATENT ANALYSIS
PATENTS BY REGION
PATENTS ON FLAVORS BY REGION
FIGURE 7 REGIONAL DISTRIBUTION OF PATENTS ON FLAVORS, 2011-2015 (%)
PATENTS ON FRAGRANCES BY REGION
FIGURE 8 REGIONAL MARKET SHARES OF PATENTS ON FRAGRANCES, 2011-2015 (%)
PATENTS ON FLAVORS BY YEAR AND COUNTRY
TABLE 57 NUMBER OF PATENTS ISSUED ANNUALLY ON FLAVORS BY REGION, 2011-2015
PATENTS ON FRAGRANCES BY YEAR AND COUNTRY
TABLE 58 NUMBER OF PATENTS ISSUED ANNUALLY ON FRAGRANCES BY REGION, 2011-2015
PATENTS ON FLAVORS BY MANUFACTURER/RESEARCH INSTITUTE
PATENTS ON FLAVORS BY COMPANY
TABLE 59 PATENTS ON FLAVORS BY COMPANY, 2011-2015 (NUMBER/%)
PATENTS ON FRAGRANCES BY COMPANY
TABLE 60 PATENTS ON FRAGRANCES BY COMPANY, 2011-2015 (NUMBER/%)
U.S. PATENTS ON FLAVORS AND FRAGRANCES
TABLE 61 U.S. PATENTS ON FLAVORS, 2011-2015
TABLE 62 U.S. PATENTS ON FRAGRANCES, 2011-2015
EUROPEAN PATENTS ON FLAVORS AND FRAGRANCES
TABLE 63 EUROPEAN PATENTS ON FLAVORS, 2011-2015
TABLE 64 EUROPEAN PATENTS ON FRAGRANCES, 2011-2015
CHINESE PATENTS ON FLAVORS AND FRAGRANCES
TABLE 65 CHINESE PATENTS ON FRAGRANCES, 2011-2015
TABLE 66 CHINESE PATENTS ON FRAGRANCES, 2011-2015
SOUTH KOREAN PATENTS ON FLAVORS AND FRAGRANCES
TABLE 67 SOUTH KOREAN PATENTS ON FLAVORS, 2011-2015
TABLE 68 SOUTH KOREAN PATENTS ON FRAGRANCES, 2011-2015
JAPANESE PATENTS ON FLAVORS AND FRAGRANCES
TABLE 69 JAPANESE PATENTS ON FLAVORS, 2011-2015
TABLE 70 JAPANESE PATENTS ON FRAGRANCES, 2011-2015
CANADIAN PATENTS ON FLAVORS AND FRAGRANCES
TABLE 71 CANADIAN PATENTS ON FLAVORS, 2011-2015
TABLE 72 CANADIAN PATENTS ON FRAGRANCES, 2011-2015
MEXICAN PATENTS ON FLAVORS AND FRAGRANCES
TABLE 73 MEXICAN PATENTS ON FLAVORS, 2011-2015
TABLE 74 MEXICAN PATENTS ON FRAGRANCES, 2011-2015
CHAPTER 12 MARKET SHARES AND COMPANY PROFILES
TABLE 75 GLOBAL MARKET SHARES OF FLAVOR AND FRAGRANCE
COMPANIES, 2015 ($ BILLIONS/%)
COMPANY PROFILES
AGILEX FLAVORS & FRAGRANCES INC.
Overview
Financials
Products and Services
Strategy
ART & FRAGRANCE SA
Overview
Financials
Products and Services
Strategy
BELL FLAVORS & FRAGRANCES INC.
Overview
Financials
Products and Services
TABLE 76 BELL FLAVOR AND FRAGRANCE PRODUCTS
Strategy
CHINA FLAVORS & FRAGRANCES CO. LTD
Overview
Financials
Products and Services
Strategy
COMAX FLAVORS
Overview
Financials
Products and Services
Strategy
FIRMENICH INTERNATIONAL SA
Overview
Financials
Products and Services
TABLE 77 FIRMENICH FLAVOR PRODUCTS
TABLE 78 FIRMENICH FRAGRANCE PRODUCTS
Strategy
FRUTAROM INDUSTRIES LTD.
Overview
Financials
Products and Services
Strategy
GIVAUDAN SA
Overview
Financials
Products and Services
TABLE 79 GIVAUDAN FLAVOR AND FRAGRANCE PRODUCTS
Strategy
GROUPE BOGART
Overview
Financials
Products and Services
Strategy
INTERNATIONAL FLAVORS & FRAGRANCES INC.
Overview
Financials
Products and Services
TABLE 80 IFF FLAVOR AND FRAGRANCE PRODUCTS
Strategy
INTERPARFUMS INC.
Overview
Financials
Products and Services
TABLE 81 INTER PARFUMS COSMETIC AND FRAGRANCE PRODUCTS
Strategy
V. MANE FILS
Overview
Financials
Products and Services
TABLE 82 MANE FLAVOR AND FRAGRANCE PRODUCTS
Strategy
ROBERTET SA
Overview
Financials
Products and Services
Strategy
ARCHER DANIELS MIDLAND CO.
Overview
Financials
Products and Services
TABLE 83 ADM FLAVOR PRODUCTS
Strategy
SENSIENT TECHNOLOGIES CORP.
Overview
Financials
Products and Services
Strategy
SYMRISE AG
Overview
Financials
Products and Services
Strategy
TAKASAGO INTERNATIONAL CORP.
Overview
Financials
Products and Services
TABLE 84 TAKASAGO FLAVOR AND FRAGRANCE PRODUCTS
Strategy
T. HASEGAWA CO. LTD.
Overview
Financials
Products and Services
Strategy
TREATT PLC
Overview
Financials
Products and Services
TABLE 85 TREATT FLAVOR AND FRAGRANCE PRODUCTS
Strategy
ULRIC DE VARENS SA
Overview
Financials
Products and Services
Strategy
CHAPTER 13 LIST OF ACRONYMS

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