North America Flavors and Fragrances Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

North America Flavors and Fragrances Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028


Market Overview:

The North America flavors and fragrances market size reached US$ 9.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.

Flavor and fragrance substances are strong-smelling organic compounds with characteristic, usually a pleasant odor. They are derived either from natural sources or synthesized chemically. They are used to enhance the taste and texture of foods and beverages and help in improving the appeal of other consumer goods. The flavors and fragrances products include fragrances and flavor blends, aroma chemicals, and essential oils. Flavors are majorly used in the foods, beverages, dairy and confectionery industries, whereas, fragrances are used for providing a pleasant smell in personal care, home care, and cosmetic products.

The North America flavors and fragrances market is currently being driven by several factors. The rising demand for flavoring ingredients in bakery and confectionary items, ice-creams and other desserts, smoothies, and energy drinks are strengthening the growth of the flavors and fragrances market in the food and beverage industry of the region. Furthermore, the addition of flavors at optimal concentrations improve the taste and texture of food. Various types of chemical aromatics, essential oils, and botanical extracts are used to enhance the flavor of food and beverages, thereby making them more appealing to consumers. Apart from this, the escalating demand for flavors and fragrances in pharmaceuticals, dietary supplements, nutraceuticals, and tobacco is also impelling the market growth. In addition to this, the introduction of new flavors and fragrances along with their natural or organic counterparts are also stimulating the growth of the industry in the region.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America flavors and fragrances market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type, form, application and ingredients.

Key Regions Analysed
United States
Canada

Market by Segment

Flavors Market
Market by Product Type
Natural-Identical
Artificial
Natural

Market by Form
Liquid
Dry

Market by Application
Beverages
Dairy and Frozen Desserts
Bakery and Confectionery Products
Savories and Snacks
Others

Fragrances Market
Market by Application
Cosmetics and Toiletries
Fine Fragrances
Household Cleaners and Air Fresheners
Soap and Detergents
Others

Market by Ingredients
Natural
Synthetic

Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Competitive Landscape
Competitive Structure
Key Player Profiles

Report Coverage:

Base Year Considered: 2022
Historical Data Coverage: 2017-2022
Market Forecast: 2023-2028
Currency: US$
Geography Covered: North America, United States and Canada
Segments Covered:
Flavors: Product Type, Form and Application.
Fragrances: Application and Ingredients.

Key Questions Answered in This Report

1. How big is the North America flavors and fragrances market?
2. What is the expected growth rate of the North America flavors and fragrances market during 2023-2028?
3. What are the key factors driving the North America flavors and fragrances market?
4. What has been the impact of COVID-19 on the North America flavors and fragrances market?
5. What is the breakup of the North America flavors market based on the product type?
6. What is the breakup of the North America flavors market based on the form?
7. What is the breakup of the North America flavors market based on the application?
8. What is the breakup of the North America fragrances market based on the application?
9. What is the breakup of the North America fragrances market based on the ingredients?
10. What are the key regions in the North America flavors and fragrances market?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Flavors Market
5.1 Market Performance
5.2 Market Breakup by Product Type
5.3 Market Breakup by Form
5.4 Market Breakup by Application
5.5 Market Breakup by Region
5.6 Market Forecast
6 Global Fragrances Market
6.1 Market Performance
6.2 Market Breakup by Application
6.3 Market Breakup by Ingredients
6.4 Market Breakup by Region
6.5 Market Forecast
7 North America Flavors Market
7.1 Market Performance
7.2 Impact of COVID-19
7.3 Market Forecast
8 North America Fragrances Market
8.1 Market Performance
8.2 Impact of COVID-19
8.3 Market Forecast
9 North America Flavors Market: Breakup by Product Type
9.1 Natural-Identical
9.2 Artificial
9.3 Natural
10 North America Flavors Market: Breakup by Form
10.1 Liquid
10.2 Dry
11 North America Flavors Market: Breakup by Application
11.1 Beverages
11.2 Dairy and Frozen Desserts
11.3 Bakery and Confectionery Products
11.4 Savories and Snacks
11.5 Others
12 North America Fragrances Market: Breakup by Application
12.1 Cosmetics and Toiletries
12.2 Fine Fragrances
12.3 Household Cleaners and Air Fresheners
12.4 Soap and Detergents
12.5 Others
13 North America Fragrances Market: Breakup by Ingredients
13.1 Natural
13.2 Synthetic
14 North America Flavors and Fragrances Market: Breakup by Country
14.1 United States
14.1.1 Historical Market Trends
14.1.2 Market Breakup by Segment
14.1.3 Flavors Market Breakup by Application
14.1.4 Fragrances Market Breakup by Application
14.1.5 Market Forecast
14.2 Canada
14.2.1 Historical Market Trends
14.2.2 Market Breakup by Segment
14.2.3 Flavors Market Breakup by Application
14.2.4 Fragrances Market Breakup by Application
14.2.5 Market Forecast
15 SWOT Analysis
15.1 Overview
15.2 Strengths
15.3 Weaknesses
15.4 Opportunities
15.5 Threats
16 Value Chain Analysis
17 Porter’s Five Forces Analysis
17.1 Overview
17.2 Bargaining Power of Buyers
17.3 Bargaining Power of Suppliers
17.4 Degree of Rivalry
17.5 Threat of New Entrants
17.6 Threat of Substitutes
18 Price Analysis
18.1 Key rice Indicators
18.2 Price Structure
18.3 Margin Analysis
19 Competitive Landscape
19.1 Market Structure
19.2 Key Players
19.3 Profiles of Key Players

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