Asia-Pacific Flavor and Fragrance Market – Growth, Trends, and Forecast (2020 - 2025)

Asia-Pacific Flavor and Fragrance Market – Growth, Trends, and Forecast (2020 - 2025)

The Asia-Pacific flavor and fragrance market is projected to register a CAGR of 6.15%, during the forecast period (2020-2025).

  • In Asia, the food flavors witnessed significant growth rates in the last decade, owing to the increased demand from the food and beverage industry.
  • The continued expansion in the major end-user sectors, like beverages and frozen food, as well as strong gains in domestic expenditures on consumer products, are the factors that are expected to support the food flavors’ demand.
  • The unusual flavor hybrids and stronger taste experiences are emerging as the dominant flavor profiles, with the sour flavors also gaining popularity.
Key Market Trends

Growing Demand from the Ice Cream Segment

The ice cream market in Asia is growing rapidly, with brands tapping into this trend from both an indulgence and a health perspective. India, Indonesia, and Vietnam are among the world’s fastest-growing ice cream markets. Ice cream brands are altering their business strategies to encourage more sales, from targeting younger consumers to introducing low-calorie ice cream, as consumers are willing to pay more for desserts that are all-natural or free-from additives, and high in nutrition (e.g., protein and probiotics). As a part of product innovation, companies introduced special ice cream flavors, like cherry blossom, lavender and blueberry, and raspberry, white peach, jasmine, and orange blossom favors, to cater to young consumer groups who would like to pursue freshness and fashion.

China holds a Prominent Share

The continued expansion in the major end-user sectors, like beverages and frozen food, as well as strong gains in domestic expenditures on consumer products, are the factors that are expected to support the food flavors’ demand. In China, the food flavors witnessed significant growth rates in the last decade, owing to the increased demand and the growing food and beverage industry. As China is the fastest-growing food and beverage market in Asia, the flavors industry here is highly competitive and moderately fragmented. The hybrid flavor solutions led by initiatives, such as sushi pizza, spicy tuna roll, pasta bacon tacos, and ramen burgers are also dominating the foodservice sector, indicating the consumers’ preference for remarkable and unusual flavors.

Competitive Landscape

The Asia-Pacific flavor and fragrances market is consolidated, with major players holding a prominent market share. The major players operating in the market are Givaudan, IFF-Frutarom, Firmenich, Symrise, Takasago, Sensient Technologies, etc. Players in the market are introducing innovative flavors to attract more consumers.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.


1 INTRODUCTION
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Synthetic
5.1.2 Natural
5.2 By Application
5.2.1 Food
5.2.1.1 Savory and Snacks
5.2.1.2 Dairy Products
5.2.1.3 Bakery
5.2.1.4 Confectionery
5.2.1.5 Meat
5.2.1.6 Others
5.2.2 Beverage
5.2.3 Beauty and Personal Care
5.2.4 Perfumes
5.2.5 Others
5.3 By Country
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 Australia
5.3.5 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Strategies adopted by Key players
6.2 Most Active Companies
6.3 Market Position Analysis
6.4 Company Profiles
6.4.1 Givaudan
6.4.2 Firmenich SA
6.4.3 International Flavors & Fragrances
6.4.4 Symrise AG
6.4.5 The Archer Daniels Midland Company
6.4.6 Sensient Technologies
6.4.7 MANE Group
6.4.8 Takasago International Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook