フレーバー&フレグランス市場 – 2029年までの世界予測

Flavors & Fragrance Market - Global Forecast To 2029

フレーバー&フレグランス市場 - 原材料の種類 (合成、天然)、最終用途産業 (飲料、ベーカリー、セイボリー & スナック、乳製品、菓子、消費者製品、高級香料)、および地域別 - 2029年までの世界予測
Flavors & Fragrances Market by Ingredient Type (Synthetic, Natural), End-use Industry (Beverages, Bakery, Savory & Snacks, Dairy Products, Confectionery, Consumer Products, Fine Fragrances), and Region - Global Forecast to 2029
出版社MarketsandMarkets
出版年月2024年8月
ページ数246
図表数332
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

In terms of value, the flavors & fragrances market is estimated to grow from USD 35.3 billion in 2024 to USD 42.3 billion by 2029, at a CAGR of 3.7%.

フレーバー&フレグランス市場は、2024 年の 353 億米ドルから 2029 年までに 423 億米ドルに、CAGR 3.7% で成長すると推定されています。

Natural flavors and fragrances are becoming a growing trend due to their sensory and experiential attributes. Customers who are cautious of artificial additives and complicated chemical names are drawn to natural flavors and fragrances since they tend to have a clearer and more transparent ingredient list. Consumers gravitate towards natural solutions because of their need for authenticity and high-quality sensory experiences.

フレーバー&フレグランス市場 - 2029年までの世界予測

“Synthetic ingredient segment was the largest ingredient type of flavors & fragrances market, in terms of value, in 2023.”

Synthetic ingredients are the most used ingredient type in the flavors & fragrances market, in terms of value, in 2023. Synthetic ingredients’ adaptability and flexibility for innovation add to their dominance in the flavors & fragrances market. Numerous flavors and fragrances that might not be readily obtained from natural sources can be created via synthetic chemistry. In a competitive market, having the freedom to explore and develop novel sensory experiences is a major advantage.

フレーバー&フレグランス市場 - 2029年までの世界予測 ecosystem

“Dairy products segment is projected to witness the highest CAGR in the flavors market, in terms of value, during the forecast period.”

The dairy products segment is projected to witness the highest CAGR in the flavors & market, in terms of value, during the forecast period. There is a growing demand for new flavors in dairy products due to product diversity and innovation. As more people choose vegan or lactose-free diets, plant-based dairy substitutes like almond, soy, and oat milk have become increasingly popular. To increase their attractiveness and set them apart from conventional dairy products, these products need unique flavors.

“Fine fragrances segment was the second largest end-use industry of fragrances market, in terms of value, in 2023.”

Fine fragrances segment stands as the second-largest end-use industry in the fragrances market. The growing inclination of consumers towards experiencing luxury and customized indulgence is contributing to the attraction of high-quality fragrances. Sensual pleasure, emotional fulfilment, and a feeling of personal identity are becoming increasingly important to modern customers, especially those in wealthier groups. Fine fragrances satisfy these needs by providing a sensual experience that goes beyond the ordinary, enabling consumers to showcase their uniqueness and elegance.

“Europe is projected to be the second largest region, in terms of value, during the forecast period in the flavors & fragrances market.”

Europe was the second-largest region in the flavors & fragrances market. Europe served as a pioneer when it comes to the creation and enhancement of flavors and fragrances. Ancient perfumery and culinary arts traditions abound in the region, with France and Italy being recognized for their centuries-long mastery in these art forms. Europe is recognized worldwide as a leader in the production and enjoyment of complex, premium flavors and fragrances owing to its rich legacy. Market needs for customization and regional specialties are still on the rise due to which companies do not cease to develop new solutions that would appeal to the target markets across Europe.

  • By Company Type: Tier 1 – 69%, Tier 2 – 23%, and Tier 3 – 8%
  • By Designation: C-Level – 23%, Director Level – 37%, and Others – 40%
  • By Region: North America – 24%, Europe – 40%, Asia Pacific – 17%, South America – 7%, Middle East & Africa – 12%,

フレーバー&フレグランス市場 - 2029年までの世界予測 region

The key players profiled in the report include Givaudan SA (Switzerland), International Flavors & Fragrances Inc. (US), DSM-Firmenich AG (Switzerland), Symrise AG (Germany), ADM (US), Takasago International Corporation (Japan), Sensient Technologies Corporation (US), MANE (France), Robertet Group (France), T. Hasegawa Co., Ltd. (Japan), and Bell Flavors & Fragrances (US).

Research Coverage

This report segments the market for flavors & fragrances based on ingredient type, end-use industry, and region and provides estimations of value (USD Million) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, and key strategies, associated with the market for flavors & fragrances.

Reasons to Buy this Report

This research report is focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the flavors & fragrances market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on flavors & fragrances offered by top players in the global market
  • Analysis of key drivers: (Increasing demand for natural flavors & fragrances, Increasing consumer preference towards convenience foods, Rising demand for natural products, Rising demand for consumer products), restraints (Compliance with quality and regulatory standards, Fluctuating raw material prices), opportunities (Digitalization of the retail industry, Innovation in end-use industries), and challenges (Limited progression in value chain among developing economies, Lack of cold chain infrastructure in developing economies) influencing the growth of flavors & fragrances market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the flavors & fragrances market
  • Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for flavors & fragrances across regions.
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global flavors & fragrances market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the flavors & fragrances market

Flavors & Fragrances Market by Ingredient Type (Synthetic, Natural), End-use Industry (Beverages, Bakery, Savory & Snacks, Dairy Products, Confectionery, Consumer Products, Fine Fragrances), and Region – Global Forecast to 2029

フレーバー&フレグランス市場 – 原材料の種類 (合成、天然)、最終用途産業 (飲料、ベーカリー、セイボリー & スナック、乳製品、菓子、消費者製品、高級香料)、および地域別 – 2029年までの世界予測

Table of Contents

1            INTRODUCTION            24

1.1         STUDY OBJECTIVES      24

1.2         MARKET DEFINITION   24

1.2.1      INCLUSIONS AND EXCLUSIONS OF STUDY         25

1.2.2      FLAVORS & FRAGRANCES MARKET: DEFINITION AND INCLUSIONS, BY INGREDIENT TYPE        25

1.2.3      FLAVORS MARKET: DEFINITION AND INCLUSIONS, BY END-USE INDUSTRY         26

1.2.4      FRAGRANCES MARKET: DEFINITION AND INCLUSIONS, BY END-USE INDUSTRY         26

1.3         MARKET SCOPE             27

1.3.1      FLAVORS & FRAGRANCES MARKET SEGMENTATION     27

1.3.2      REGIONAL SCOPE         27

1.4         YEARS CONSIDERED     28

1.5         CURRENCY CONSIDERED          28

1.6         STAKEHOLDERS            28

1.7         SUMMARY OF CHANGES            29

1.7.1      IMPACT OF RECESSION 29

2            RESEARCH METHODOLOGY     30

2.1         RESEARCH DATA           30

2.1.1      SECONDARY DATA       31

2.1.2      PRIMARY DATA 31

2.1.2.1   Interviews with experts–demand and supply sides        31

2.1.2.2   Key industry insights          32

2.1.2.3   Breakdown of interviews with experts            32

2.2         MARKET SIZE ESTIMATION       33

2.2.1      BOTTOM-UP APPROACH           33

2.2.2      TOP-DOWN APPROACH             35

2.3         DATA TRIANGULATION             35

2.4         GROWTH FORECAST    37

2.4.1      SUPPLY-SIDE ANALYSIS             37

2.4.2      DEMAND-SIDE ANALYSIS           38

2.5         IMPACT OF RECESSION 38

2.6         ASSUMPTIONS 39

2.7         LIMITATIONS   39

2.8         RISK ASSESSMENT         39

3            EXECUTIVE SUMMARY 40

4            PREMIUM INSIGHTS      43

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN FLAVORS & FRAGRANCES MARKET 43

4.2         FLAVORS & FRAGRANCES MARKET, BY REGION 43

4.3         ASIA PACIFIC: FLAVORS MARKET, BY COUNTRY AND END-USE INDUSTRY (2023)           44

4.4         FRAGRANCES MARKET, BY END-USE INDUSTRY AND REGION   44

4.5         FRAGRANCES MARKET, BY KEY COUNTRY         45

5            MARKET OVERVIEW     46

5.1         INTRODUCTION            46

5.2         MARKET DYNAMICS     46

5.2.1      DRIVERS            47

5.2.1.1   Increasing demand for natural flavors and fragrances   47

5.2.1.2   Increasing consumer preference for convenience food 47

5.2.1.3   Rising demand for natural products 47

5.2.1.4   Rising demand for consumer products           47

5.2.2      RESTRAINTS     48

5.2.2.1   Compliance with quality and regulatory standards       48

5.2.2.2   Fluctuating raw material prices        48

5.2.3      OPPORTUNITIES           48

5.2.3.1   Digitalization of retail industry        48

5.2.3.2   Innovation in end-use industries      49

5.2.4      CHALLENGES   49

5.2.4.1   Limited progression in value chain among developing economies            49

5.2.4.2   Lack of cold chain infrastructure in developing economies         49

5.3         PORTER’S FIVE FORCES ANALYSIS         49

5.3.1      THREAT OF NEW ENTRANTS    50

5.3.2      THREAT OF SUBSTITUTES         51

5.3.3      BARGAINING POWER OF SUPPLIERS     51

5.3.4      BARGAINING POWER OF BUYERS           51

5.3.5      INTENSITY OF COMPETITIVE RIVALRY 51

5.4         MACROECONOMIC INDICATORS           52

5.4.1      GDP TRENDS AND FORECAST OF MAJOR ECONOMIES  52

6            INDUSTRY TRENDS       53

6.1         SUPPLY CHAIN ANALYSIS          53

6.1.1      RAW MATERIALS           53

6.1.2      MANUFACTURING        53

6.1.3      DISTRIBUTION NETWORK         54

6.1.4      END-USE INDUSTRIES  54

6.2         KEY STAKEHOLDERS AND BUYING CRITERIA    54

6.2.1      KEY STAKEHOLDERS IN BUYING PROCESS         54

6.2.2      BUYING CRITERIA         55

6.3         PRICING ANALYSIS        56

6.3.1      INDICATIVE AVERAGE SELLING PRICE TREND OF FLAVORS & FRAGRANCES, BY REGION         56

6.4         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 57

6.5         ECOSYSTEM ANALYSIS/MARKET MAP   58

6.6         CASE STUDIES  60

6.6.1      GIVAUDAN’S STRATEGIC MOVE: CAPTURING NATURAL INGREDIENT TREND THROUGH NATUREX ACQUISITION      60

6.6.2      INNOVATING WITH MICROBES: IFF’S JOURNEY INTO PROBIOTIC FLAVORS & FRAGRANCES          60

6.6.3      SENSIENT TECHNOLOGIES CORPORATION: SAFEGUARDING CONSUMER TRUST THROUGH CRISIS MANAGEMENT AND CONTINUOUS IMPROVEMENT             61

6.7         TECHNOLOGY ANALYSIS           61

6.7.1      KEY TECHNOLOGIES    61

6.7.1.1   Supercritical fluid extraction            61

6.7.1.2   Ultrasonic extraction         61

6.7.2      COMPLEMENTARY TECHNOLOGIES     62

6.7.2.1   Artificial intelligence-powered fragrance creation        62

6.8         TRADE ANALYSIS          62

6.8.1      IMPORT SCENARIO       62

6.8.1.1   Flavors  62

6.8.1.2   Fragrances           63

6.8.2      EXPORT SCENARIO       64

6.8.2.1   Flavors  64

6.8.2.2   Fragrances           65

6.9         REGULATORY LANDSCAPE       66

6.9.1      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          69

6.10       KEY CONFERENCES AND EVENTS IN 2024–2025 69

6.11       INVESTMENT AND FUNDING SCENARIO            70

6.12       PATENT ANALYSIS        71

6.12.1    APPROACH       71

6.12.2    DOCUMENT TYPES       71

6.12.3    TOP APPLICANTS          73

6.12.4    JURISDICTION ANALYSIS           75

7            FLAVORS & FRAGRANCES MARKET, BY INGREDIENT TYPE        76

7.1         INTRODUCTION            77

7.2         SYNTHETIC      78

7.2.1      COST-EFFECTIVENESS OF SYNTHETIC INGREDIENTS TO DRIVE ADOPTION       78

7.3         NATURAL          79

7.3.1      CONSUMER PREFERENCES AND INCREASED HEALTH CONSCIOUSNESS TO DRIVE MARKET    79

8            FLAVORS & FRAGRANCES MARKET, BY END-USE INDUSTRY      80

8.1         INTRODUCTION            81

8.2         FLAVORS           81

8.2.1      BEVERAGES      82

8.2.1.1   Consumer preferences to drive demand         82

8.2.2      BAKERY             83

8.2.2.1   Extensive product range to drive market        83

8.2.3      SAVORY & SNACKS        84

8.2.3.1   Rising demand for plant-based products to support market growth          84

8.2.4      DAIRY PRODUCTS         85

8.2.4.1   Health & wellness trends to boost market       85

8.2.5      CONFECTIONERY          86

8.2.5.1   Continuous innovation and fast-changing consumer demand to drive market              86

8.2.6      OTHER END-USE INDUSTRIES  87

8.3         FRAGRANCES   89

8.3.1      CONSUMER PRODUCTS             90

8.3.1.1   Economic factors to influence market            90

8.3.2      FINE FRAGRANCES        91

8.3.2.1   Artistry and creativity in perfumes to drive market       91

9            FLAVORS & FRAGRANCES MARKET, BY REGION 93

9.1         INTRODUCTION            94

9.2         ASIA PACIFIC    97

9.2.1      RECESSION IMPACT      98

9.2.2      CHINA  103

9.2.2.1   Rapid industrialization to drive market          103

9.2.3      JAPAN  105

9.2.3.1   Growing beverages industry to drive demand 105

9.2.4      INDIA   107

9.2.4.1   Rising demand from end-use industries to propel market           107

9.2.5      SOUTH KOREA 108

9.2.5.1   Changing consumer lifestyle to drive demand for flavors & fragrances     108

9.2.6      INDONESIA       110

9.2.6.1   Expanding urban population to support market growth 110

9.2.7      THAILAND        112

9.2.7.1   Rich culinary heritage to support market growth          112

9.2.8      AUSTRALIA       113

9.2.8.1   Increasing health consciousness to drive demand         113

9.2.9      VIETNAM          115

9.2.9.1   Growing food processing sector to drive market           115

9.2.10    PHILIPPINES     116

9.2.10.1 Rising demand for Western food products to drive market         116

9.2.11    BANGLADESH  118

9.2.11.1 Growth in food processing sector to drive market         118

9.2.12    PAKISTAN         119

9.2.12.1 Rising middle-class population and preference for higher quality and safer food to drive market        119

9.2.13    TAIWAN             121

9.2.13.1 Rise in brand consciousness to drive demand 121

9.2.14    MALAYSIA         123

9.2.14.1 Growing demand for convenience foods to drive market            123

9.2.15    SINGAPORE      124

9.2.15.1 Increasing demand for natural and organic ingredients to drive market    124

9.2.16    MYANMAR        126

9.2.16.1 Increasing urbanization to drive demand       126

9.3         EUROPE             127

9.3.1      RECESSION IMPACT      128

9.3.2      GERMANY         132

9.3.2.1   Robust economy to drive market      132

9.3.3      FRANCE             134

9.3.3.1   Increasing production concentration and exports to boost market            134

9.3.4      UK         135

9.3.4.1   Adoption of healthier lifestyles to support market        135

9.3.5      RUSSIA 137

9.3.5.1   Natural resources to support market 137

9.3.6      ITALY   139

9.3.6.1   Marketing initiatives by government to drive market    139

9.3.7      SPAIN   140

9.3.7.1   Demand for healthy and natural ingredients-based foods to drive market 140

9.4         NORTH AMERICA          142

9.4.1      RECESSION IMPACT      143

9.4.2      US         146

9.4.2.1   Largest consumer of flavors & fragrances in North America       146

9.4.3      CANADA            148

9.4.3.1   Increasing health awareness and demand for natural-based flavors and fragrances to drive market    148

9.4.4      MEXICO             150

9.4.4.1   Growing food & beverage industry to drive market      150

9.5         MIDDLE EAST & AFRICA             151

9.5.1      RECESSION IMPACT      151

9.5.2      GCC COUNTRIES           155

9.5.2.1   Saudi Arabia        155

9.5.2.1.1 Increasing demand for premium consumer products to drive market        155

9.5.3      IRAN     157

9.5.3.1   Growing urban middle-class population and changing lifestyles to positively impact market growth        157

9.5.4      TURKEY             159

9.5.4.1   Rising disposable income to support growth   159

9.5.5      SOUTH AFRICA 160

9.5.5.1   Beverages segment to boost growth 160

9.6         SOUTH AMERICA           162

9.6.1      RECESSION IMPACT      162

9.6.2      BRAZIL 165

9.6.2.1   Rising demand for dairy products and premium fragrances to drive market              165

9.6.3      ARGENTINA      166

9.6.3.1   Growing consumer demand for personal care and household products to drive market   166

10          COMPETITIVE LANDSCAPE       169

10.1       INTRODUCTION            169

10.2       STRATEGIES ADOPTED BY KEY PLAYERS/RIGHT TO WIN           169

10.2.1    OVERVIEW OF STRATEGIES ADOPTED BY KEY FLAVOR & FRAGRANCE MANUFACTURERS        169

10.3       MARKET SHARE ANALYSIS         170

10.3.1    RANKING OF KEY MARKET PLAYERS, 2023          172

10.4       REVENUE ANALYSIS      173

10.5       COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023   174

10.5.1    STARS  174

10.5.2    EMERGING LEADERS    174

10.5.3    PERVASIVE PLAYERS     174

10.5.4    PARTICIPANTS 174

10.5.5    COMPANY FOOTPRINT: KEY PLAYERS, 2023      176

10.5.5.1 Company footprint            176

10.5.5.2 Region footprint  177

10.5.5.3 Ingredient type footprint   178

10.5.5.4 End-use industry footprint 179

10.6       COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023          180

10.6.1    PROGRESSIVE COMPANIES       180

10.6.2    RESPONSIVE COMPANIES          180

10.6.3    DYNAMIC COMPANIES 180

10.6.4    STARTING BLOCKS       180

10.6.5    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023             182

10.6.5.1 Detailed list of key startups/SMEs   182

10.6.5.2 Competitive benchmarking of key startups/SMEs        182

10.7       BRAND/PRODUCT COMPARISON ANALYSIS      183

10.8       COMPANY VALUATION AND FINANCIAL METRICS        184

10.9       COMPETITIVE SCENARIO          185

10.9.1    PRODUCT LAUNCHES  185

10.9.2    DEALS  186

10.9.3    EXPANSIONS    189

11          COMPANY PROFILES    190

11.1       KEY PLAYERS   190

11.1.1    GIVAUDAN SA  190

11.1.1.1 Business overview 190

11.1.1.2 Products offered  191

11.1.1.3 Recent developments         193

11.1.1.3.1            Product launches 193

11.1.1.3.2            Deals     193

11.1.1.4 MnM view           194

11.1.1.4.1            Key strengths       194

11.1.1.4.2            Strategic choices  194

11.1.1.4.3            Weaknesses and competitive threats 194

11.1.2    INTERNATIONAL FLAVORS & FRAGRANCES INC.            195

11.1.2.1 Business overview 195

11.1.2.2 Products offered  196

11.1.2.3 Recent developments         197

11.1.2.3.1            Deals     197

11.1.2.3.2            Expansions          198

11.1.2.4 MnM view           198

11.1.2.4.1            Key strengths       198

11.1.2.4.2            Strategic choices  199

11.1.2.4.3            Weaknesses and competitive threats 199

11.1.3    DSM-FIRMENICH AG     200

11.1.3.1 Business overview 200

11.1.3.2 Products offered  202

11.1.3.3 Recent developments         203

11.1.3.3.1            Product launches 203

11.1.3.3.2            Deals     203

11.1.3.3.3            Expansions          203

11.1.3.4 MnM View          204

11.1.3.4.1            Key strengths       204

11.1.3.4.2            Strategic choices  204

11.1.3.4.3            Weaknesses and competitive threats 204

11.1.4    SYMRISE AG      205

11.1.4.1 Business overview 205

11.1.4.2 Products offered  206

11.1.4.3 Recent developments         207

11.1.4.3.1            Product launches 207

11.1.4.4 MnM view           208

11.1.4.4.1            Key strengths       208

11.1.4.4.2            Strategic choices  208

11.1.4.4.3            Weaknesses and competitive threats 208

11.1.5    TAKASAGO INTERNATIONAL CORPORATION   209

11.1.5.1 Business overview 209

11.1.5.2 Products offered  210

11.1.5.3 Recent developments         211

11.1.5.3.1            Expansions          211

11.1.5.4 MnM View          211

11.1.5.4.1            Key strengths       211

11.1.5.4.2            Strategic choices  211

11.1.5.4.3            Weaknesses and competitive threats 212

11.1.6    SENSIENT TECHNOLOGIES CORPORATION       213

11.1.6.1 Business overview 213

11.1.6.2 Products offered  214

11.1.6.3 Recent developments         215

11.1.6.3.1            Deals     215

11.1.7    ADM     216

11.1.7.1 Business overview 216

11.1.7.2 Products offered  217

11.1.8    MANE   218

11.1.8.1 Business overview 218

11.1.8.2 Products offered  219

11.1.9    ROBERTET GROUP        220

11.1.9.1 Business overview 220

11.1.9.2 Products offered  221

11.1.10  T. HASEGAWA CO., LTD.            222

11.1.10.1             Business overview 222

11.1.10.2             Products offered  223

11.1.10.3             Recent developments         224

11.1.10.3.1          Product launches 224

11.1.11  BELL FLAVORS & FRAGRANCES 225

11.1.11.1             Business overview 225

11.1.11.2             Products offered  225

11.1.11.3             Recent developments         226

11.1.11.3.1          Product launches 226

11.2       OTHER PLAYERS           227

11.2.1    KERRY GROUP  227

11.2.2    OGAWA & CO., LTD.      227

11.2.3    HUABAO INTERNATIONAL HOLDINGS LTD.     228

11.2.4    BIOLANDES SAS             228

11.2.5    FLAVEX NATUREXTRAKTE GMBH          229

11.2.6    SYNTHITE INDUSTRIES LTD.    229

11.2.7    UNGERER & COMPANY 230

11.2.8    AKAY NATURAL INGREDIENTS PRIVATE LIMITED         230

11.2.9    SOLVAY SA        231

11.2.10  OZONE NATURALS        231

11.2.11  BASF SE              232

11.2.12  AROMATECH SAS          232

11.2.13  BEDOUKIAN RESEARCH INC.     233

11.2.14  ALPHA AROMATICS      233

12          ADJACENT & RELATED MARKETS          234

12.1       INTRODUCTION            234

12.2       LIMITATIONS   234

12.3       AROMA INGREDIENTS MARKET             235

12.3.1    MARKET DEFINITION   235

12.3.2    MARKET OVERVIEW     235

12.4       AROMA INGREDIENTS MARKET, BY REGION     235

12.4.1    EUROPE             236

12.4.2    ASIA PACIFIC    236

12.4.3    NORTH AMERICA          237

12.4.4    MIDDLE EAST & AFRICA             237

12.4.5    SOUTH AMERICA           238

13          APPENDIX         239

13.1       DISCUSSION GUIDE      239

13.2       KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL             242

13.3       CUSTOMIZATION OPTIONS      244

13.4       RELATED REPORTS       244

13.5       AUTHOR DETAILS         245

LIST OF TABLES

TABLE 1             FLAVORS & FRAGRANCES MARKET: PORTER’S FIVE FORCES ANALYSIS          52

TABLE 2             GDP TRENDS AND FORECAST, BY MAJOR ECONOMY, 2021–2029 (USD BILLION) 52

TABLE 3             INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS IN TOP-THREE END-USE INDUSTRIES OF FLAVORS & FRAGRANCES (%)             55

TABLE 4             KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES OF FLAVORS & FRAGRANCES    56

TABLE 5             INDICATIVE AVERAGE SELLING PRICE TREND OF FLAVORS & FRAGRANCES,

BY REGION (USD/KG)   57

TABLE 6             FLAVORS & FRAGRANCES MARKET: ROLE IN ECOSYSTEM              58

TABLE 7             IMPORT OF FLAVORS, BY REGION, 2017–2022 (USD MILLION)              63

TABLE 8             IMPORT OF FRAGRANCES, BY REGION, 2017–2022 (USD MILLION)          64

TABLE 9             EXPORT OF FLAVORS, BY REGION, 2017–2022 (USD MILLION)              65

TABLE 10           EXPORT OF FRAGRANCES, BY REGION, 2017–2022 (USD MILLION)          66

TABLE 11           NORTH AMERICA: REGULATIONS RELATED TO FLAVORS & FRAGRANCES   66

TABLE 12           EUROPE: REGULATIONS RELATED TO FLAVORS & FRAGRANCES   67

TABLE 13           ASIA PACIFIC: REGULATIONS RELATED TO FLAVORS & FRAGRANCES   68

TABLE 14           FLAVORS & FRAGRANCES: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 69

TABLE 15           FLAVORS & FRAGRANCES MARKET: KEY CONFERENCES AND EVENTS             69

TABLE 16           PATENT STATUS: PATENT APPLICATIONS, LIMITED PATENTS,

AND GRANTED PATENTS          71

TABLE 17           LIST OF MAJOR PATENTS OF FLAVORS & FRAGRANCES 73

TABLE 18           PATENTS BY NESTEC, INC.         74

TABLE 19           FLAVORS & FRAGRANCES MARKET, BY INGREDIENT TYPE,

2018–2022 (USD MILLION)          77

TABLE 20           FLAVORS & FRAGRANCES MARKET, BY INGREDIENT TYPE,

2023–2029 (USD MILLION)          77

TABLE 21          SYNTHETIC INGREDIENTS: FLAVORS & FRAGRANCES MARKET,

BY TYPE, 2018–2022 (USD MILLION)       78

TABLE 22          SYNTHETIC INGREDIENTS: FLAVORS & FRAGRANCES MARKET, BY TYPE,

2023–2029 (USD MILLION)          78

TABLE 23           NATURAL INGREDIENTS: FLAVORS & FRAGRANCES MARKET, BY TYPE,

2018–2022 (USD MILLION)          79

TABLE 24           NATURAL INGREDIENTS: FLAVORS & FRAGRANCES MARKET, BY TYPE,

2023–2029 (USD MILLION)          79

TABLE 25           FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)          82

TABLE 26           FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)          82

TABLE 27           FLAVORS MARKET IN BEVERAGES, BY REGION, 2018–2022 (USD MILLION)          83

TABLE 28           FLAVORS MARKET IN BEVERAGES, BY REGION, 2023–2029 (USD MILLION)          83

TABLE 29           FLAVORS MARKET IN BAKERY, BY REGION, 2018–2022 (USD MILLION)          84

TABLE 30           FLAVORS MARKET IN BAKERY, BY REGION, 2023–2029 (USD MILLION)          84

TABLE 31           FLAVORS MARKET IN SAVORY & SNACKS, BY REGION, 2018–2022 (USD MILLION)     85

TABLE 32           FLAVORS MARKET IN SAVORY & SNACKS, BY REGION, 2023–2029 (USD MILLION)     85

TABLE 33           FLAVORS MARKET IN DAIRY PRODUCTS, BY REGION, 2018–2022 (USD MILLION)     86

TABLE 34           FLAVORS MARKET IN DAIRY PRODUCTS, BY REGION, 2023–2029 (USD MILLION)     86

TABLE 35           FLAVORS MARKET IN CONFECTIONERY, BY REGION, 2018–2022 (USD MILLION) 87

TABLE 36           FLAVORS MARKET IN CONFECTIONERY, BY REGION, 2023–2029 (USD MILLION) 87

TABLE 37           FLAVORS MARKET IN OTHER END-USE INDUSTRIES, BY REGION,

2018–2022 (USD MILLION)          88

TABLE 38           FLAVORS MARKET IN OTHER END-USE INDUSTRIES, BY REGION,

2023–2029 (USD MILLION)          88

TABLE 39           FRAGRANCES MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 89

TABLE 40           FRAGRANCES MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 89

TABLE 41          FRAGRANCES MARKET IN CONSUMER PRODUCTS, BY REGION,

2018–2022 (USD MILLION)          90

TABLE 42          FRAGRANCES MARKET IN CONSUMER PRODUCTS, BY REGION,

2023–2029 (USD MILLION)          90

TABLE 43           FRAGRANCES MARKET IN FINE FRAGRANCES, BY REGION,

2018–2022 (USD MILLION)          91

TABLE 44           FRAGRANCES MARKET IN FINE FRAGRANCES, BY REGION,

2023–2029 (USD MILLION)          91

TABLE 45           FLAVORS & FRAGRANCES MARKET, BY REGION, 2018–2022 (USD MILLION) 94

TABLE 46           FLAVORS & FRAGRANCES MARKET, BY REGION, 2023–2029 (USD MILLION) 95

TABLE 47           FLAVORS MARKET, BY REGION, 2018–2022 (USD MILLION)              95

TABLE 48           FLAVORS MARKET, BY REGION, 2023–2029 (USD MILLION)              95

TABLE 49           FRAGRANCES MARKET, BY REGION, 2018–2022 (USD MILLION)              96

TABLE 50           FRAGRANCES MARKET, BY REGION, 2023–2029 (USD MILLION)              96

TABLE 51           ASIA PACIFIC: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          98

TABLE 52           ASIA PACIFIC: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          98

TABLE 53           ASIA PACIFIC: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          99

TABLE 54           ASIA PACIFIC: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          99

TABLE 55           ASIA PACIFIC: FLAVORS MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 100

TABLE 56           ASIA PACIFIC: FLAVORS MARKET, BY COUNTRY, 2023–2029 (USD MILLION) 101

TABLE 57           ASIA PACIFIC: FRAGRANCES MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 102

TABLE 58           ASIA PACIFIC: FRAGRANCES MARKET, BY COUNTRY, 2023–2029 (USD MILLION) 103

TABLE 59           CHINA: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 104

TABLE 60           CHINA: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 104

TABLE 61           CHINA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          104

TABLE 62           CHINA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          105

TABLE 63           JAPAN: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 105

TABLE 64           JAPAN: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 106

TABLE 65           JAPAN: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          106

TABLE 66           JAPAN: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          106

TABLE 67           INDIA: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 107

TABLE 68           INDIA: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 107

TABLE 69           INDIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          108

TABLE 70           INDIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          108

TABLE 71           SOUTH KOREA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          109

TABLE 72           SOUTH KOREA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          109

TABLE 73           SOUTH KOREA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          109

TABLE 74           SOUTH KOREA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          110

TABLE 75           INDONESIA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          110

TABLE 76           INDONESIA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          111

TABLE 77           INDONESIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          111

TABLE 78           INDONESIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          111

TABLE 79           THAILAND: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     112

TABLE 80           THAILAND: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     112

TABLE 81           THAILAND: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          113

TABLE 82           THAILAND: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          113

TABLE 83           AUSTRALIA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          113

TABLE 84           AUSTRALIA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          114

TABLE 85           AUSTRALIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          114

TABLE 86           AUSTRALIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          114

TABLE 87           VIETNAM: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     115

TABLE 88           VIETNAM: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     115

TABLE 89           VIETNAM: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          116

TABLE 90           VIETNAM: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          116

TABLE 91           PHILIPPINES: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          116

TABLE 92           PHILIPPINES: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          117

TABLE 93           PHILIPPINES: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          117

TABLE 94           PHILIPPINES: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          117

TABLE 95           BANGLADESH: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          118

TABLE 96           BANGLADESH: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          118

TABLE 97          BANGLADESH: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          119

TABLE 98          BANGLADESH: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          119

TABLE 99           PAKISTAN: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     120

TABLE 100         PAKISTAN: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     120

TABLE 101         PAKISTAN: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          120

TABLE 102         PAKISTAN: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          121

TABLE 103         TAIWAN: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     121

TABLE 104         TAIWAN: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     122

TABLE 105         TAIWAN: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          122

TABLE 106         TAIWAN: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          122

TABLE 107         MALAYSIA: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     123

TABLE 108         MALAYSIA: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     123

TABLE 109         MALAYSIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          124

TABLE 110         MALAYSIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          124

TABLE 111         SINGAPORE: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          124

TABLE 112         SINGAPORE: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          125

TABLE 113         SINGAPORE: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)        125

TABLE 114         SINGAPORE: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          125

TABLE 115         MYANMAR: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          126

TABLE 116         MYANMAR: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          126

TABLE 117         MYANMAR: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          127

TABLE 118         MYANMAR: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          127

TABLE 119         EUROPE: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     129

TABLE 120         EUROPE: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     129

TABLE 121         EUROPE: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          130

TABLE 122         EUROPE: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          130

TABLE 123         EUROPE: FLAVORS MARKET, BY COUNTRY, 2018–2022 (USD MILLION)          130

TABLE 124         EUROPE: FLAVORS MARKET, BY COUNTRY, 2023–2029 (USD MILLION)          131

TABLE 125         EUROPE: FRAGRANCES MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 131

TABLE 126         EUROPE: FRAGRANCES MARKET, BY COUNTRY, 2023–2029 (USD MILLION) 132

TABLE 127         GERMANY: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          132

TABLE 128         GERMANY: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          133

TABLE 129         GERMANY: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          133

TABLE 130         GERMANY: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          133

TABLE 131         FRANCE: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     134

TABLE 132         FRANCE: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     134

TABLE 133         FRANCE: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          135

TABLE 134         FRANCE: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          135

TABLE 135         UK: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 136

TABLE 136         UK: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 136

TABLE 137         UK: FRAGRANCES MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 136

TABLE 138         UK: FRAGRANCES MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 137

TABLE 139         RUSSIA: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 137

TABLE 140         RUSSIA: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 138

TABLE 141         RUSSIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          138

TABLE 142         RUSSIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          138

TABLE 143         ITALY: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 139

TABLE 144         ITALY: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 139

TABLE 145         ITALY: FRAGRANCES MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     140

TABLE 146         ITALY: FRAGRANCES MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     140

TABLE 147         SPAIN: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 141

TABLE 148         SPAIN: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 141

TABLE 149         SPAIN: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          141

TABLE 150         SPAIN: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          142

TABLE 151         NORTH AMERICA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          144

TABLE 152         NORTH AMERICA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          144

TABLE 153         NORTH AMERICA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          144

TABLE 154         NORTH AMERICA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          145

TABLE 155         NORTH AMERICA: FLAVORS MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 145

TABLE 156         NORTH AMERICA: FLAVORS MARKET, BY COUNTRY, 2023–2029 (USD MILLION) 145

TABLE 157         NORTH AMERICA: FRAGRANCES MARKET, BY COUNTRY,

2018–2022 (USD MILLION)          146

TABLE 158         NORTH AMERICA: FRAGRANCES MARKET, BY COUNTRY,

2023–2029 (USD MILLION)          146

TABLE 159         US: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 147

TABLE 160         US: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 147

TABLE 161         US: FRAGRANCES MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 147

TABLE 162         US: FRAGRANCES MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 148

TABLE 163         CANADA: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     148

TABLE 164         CANADA: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     149

TABLE 165         CANADA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          149

TABLE 166         CANADA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          149

TABLE 167         MEXICO: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     150

TABLE 168         MEXICO: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     150

TABLE 169         MEXICO: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          151

TABLE 170         MEXICO: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          151

TABLE 171         MIDDLE EAST & AFRICA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          152

TABLE 172         MIDDLE EAST & AFRICA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          152

TABLE 173         MIDDLE EAST & AFRICA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          153

TABLE 174         MIDDLE EAST & AFRICA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          153

TABLE 175         MIDDLE EAST & AFRICA: FLAVORS MARKET, BY COUNTRY,

2018–2022 (USD MILLION)          153

TABLE 176         MIDDLE EAST & AFRICA: FLAVORS MARKET, BY COUNTRY,

2023–2029 (USD MILLION)          154

TABLE 177        MIDDLE EAST & AFRICA: FRAGRANCES MARKET, BY COUNTRY,

2018–2022 (USD MILLION)          154

TABLE 178        MIDDLE EAST & AFRICA: FRAGRANCES MARKET, BY COUNTRY,

2023–2029 (USD MILLION)          155

TABLE 179         SAUDI ARABIA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          156

TABLE 180         SAUDI ARABIA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          156

TABLE 181         SAUDI ARABIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          156

TABLE 182         SAUDI ARABIA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          157

TABLE 183         IRAN: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 157

TABLE 184         IRAN: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 158

TABLE 185         IRAN: FRAGRANCES MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     158

TABLE 186         IRAN: FRAGRANCES MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     158

TABLE 187         TURKEY: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)     159

TABLE 188         TURKEY: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)     159

TABLE 189         TURKEY: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          160

TABLE 190         TURKEY: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          160

TABLE 191         SOUTH AFRICA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          160

TABLE 192         SOUTH AFRICA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          161

TABLE 193         SOUTH AFRICA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          161

TABLE 194         SOUTH AFRICA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          161

TABLE 195         SOUTH AMERICA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          162

TABLE 196         SOUTH AMERICA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          163

TABLE 197         SOUTH AMERICA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          163

TABLE 198         SOUTH AMERICA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          163

TABLE 199         SOUTH AMERICA: FLAVORS MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 164

TABLE 200         SOUTH AMERICA: FLAVORS MARKET, BY COUNTRY, 2023–2029 (USD MILLION) 164

TABLE 201         SOUTH AMERICA: FRAGRANCES MARKET, BY COUNTRY,

2018–2022 (USD MILLION)          164

TABLE 202         SOUTH AMERICA: FRAGRANCES MARKET, BY COUNTRY,

2023–2029 (USD MILLION)          164

TABLE 203         BRAZIL: FLAVORS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 165

TABLE 204         BRAZIL: FLAVORS MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION) 165

TABLE 205         BRAZIL: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          166

TABLE 206         BRAZIL: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          166

TABLE 207         ARGENTINA: FLAVORS MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          167

TABLE 208         ARGENTINA: FLAVORS MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          167

TABLE 209         ARGENTINA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2018–2022 (USD MILLION)          167

TABLE 210         ARGENTINA: FRAGRANCES MARKET, BY END-USE INDUSTRY,

2023–2029 (USD MILLION)          168

TABLE 211         FLAVORS & FRAGRANCES MARKET: DEGREE OF COMPETITION 171

TABLE 212         FLAVORS & FRAGRANCES MARKET: REGION FOOTPRINT              177

TABLE 213         FLAVORS & FRAGRANCES MARKET: INGREDIENT TYPE FOOTPRINT      178

TABLE 214         FLAVORS & FRAGRANCES MARKET: END-USE INDUSTRY FOOTPRINT      179

TABLE 215         FLAVORS & FRAGRANCES MARKET: DETAILED LIST OF KEY STARTUPS/SMES           182

TABLE 216         FLAVORS & FRAGRANCES MARKET: COMPETITIVE BENCHMARKING

OF KEY STARTUPS/SMES           182

TABLE 217         FLAVORS & FRAGRANCES MARKET: PRODUCT LAUNCHES,

JANUARY 2021–JUNE 2024           185

TABLE 218         FLAVORS & FRAGRANCES MARKET: DEALS, JANUARY 2021–JUNE 2024          186

TABLE 219         FLAVORS & FRAGRANCES MARKET: EXPANSIONS, JANUARY 2021–JUNE 2024 189

TABLE 220         GIVAUDAN SA: COMPANY OVERVIEW   190

TABLE 221         GIVAUDAN SA: PRODUCTS OFFERED    191

TABLE 222         GIVAUDAN SA: PRODUCT LAUNCHES, JANUARY 2021–JUNE 2024      193

TABLE 223         GIVAUDAN SA: DEALS, JANUARY 2021–JUNE 2024            193

TABLE 224         INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY OVERVIEW        195

TABLE 225         INTERNATIONAL FLAVORS & FRAGRANCES INC.: PRODUCTS OFFERED          196

TABLE 226         INTERNATIONAL FLAVORS & FRAGRANCES INC.:

DEALS, JANUARY 2021–JUNE 2024           197

TABLE 227         INTERNATIONAL FLAVORS & FRAGRANCES INC.: EXPANSIONS,

JANUARY 2021–JUNE 2024           198

TABLE 228         DSM-FIRMENICH AG: COMPANY OVERVIEW     200

TABLE 229         DSM-FIRMENICH AG: PRODUCTS OFFERED      202

TABLE 230         DSM-FIRMENICH AG: PRODUCT LAUNCHES, JANUARY 2021–JUNE 2024          203

TABLE 231         DSM-FIRMENICH AG: DEALS, JANUARY 2021–JUNE 2024 203

TABLE 232         DSM-FIRMENICH AG: EXPANSIONS, JANUARY 2021–JUNE 2024              203

TABLE 233         SYMRISE AG: COMPANY OVERVIEW      205

TABLE 234         SYMRISE AG: PRODUCTS OFFERED       206

TABLE 235         SYMRISE AG: PRODUCT LAUNCHES, JANUARY 2021–JUNE 2024              207

TABLE 236         TAKASAGO INTERNATIONAL CORPORATION: COMPANY OVERVIEW        209

TABLE 237         TAKASAGO INTERNATIONAL CORPORATION: PRODUCTS OFFERED          210

TABLE 238         TAKASAGO INTERNATIONAL CORPORATION: EXPANSIONS              211

TABLE 239         SENSIENT TECHNOLOGIES CORPORATION: COMPANY OVERVIEW        213

TABLE 240         SENSIENT TECHNOLOGIES CORPORATION: PRODUCTS OFFERED          214

TABLE 241         SENSIENT TECHNOLOGIES CORPORATION: DEALS, JANUARY 2021–JUNE 2024 215

TABLE 242         ADM: COMPANY OVERVIEW     216

TABLE 243         ADM: PRODUCTS OFFERED      217

TABLE 244         MANE: COMPANY OVERVIEW   218

TABLE 245         MANE: PRODUCTS OFFERED    219

TABLE 246         ROBERTET GROUP: COMPANY OVERVIEW        220

TABLE 247         ROBERTET GROUP: PRODUCTS OFFERED         221

TABLE 248         T. HASEGAWA CO., LTD.: COMPANY OVERVIEW             222

TABLE 249         T. HASEGAWA CO., LTD.: PRODUCTS OFFERED 223

TABLE 250         T. HASEGAWA CO., LTD.: PRODUCT LAUNCHES, JANUARY 2021–JUNE 2024 224

TABLE 251         BELL FLAVORS & FRAGRANCES: COMPANY OVERVIEW 225

TABLE 252         BELL FLAVORS & FRAGRANCES: PRODUCTS OFFERED  225

TABLE 253         BELL FLAVORS & FRAGRANCES: PRODUCT LAUNCHES, JANUARY 2021–JUNE 2024           226

TABLE 254         KERRY GROUP: COMPANY OVERVIEW  227

TABLE 255         OGAWA & CO., LTD.: COMPANY OVERVIEW       227

TABLE 256         HUABAO INTERNATIONAL HOLDINGS LTD.: COMPANY OVERVIEW        228

TABLE 257         BIOLANDES SAS: COMPANY OVERVIEW 228

TABLE 258         FLAVEX NATUREXTRAKTE GMBH: COMPANY OVERVIEW              229

TABLE 259         SYNTHITE INDUSTRIES LTD.: COMPANY OVERVIEW     229

TABLE 260         UNGERER & COMPANY: COMPANY OVERVIEW 230

TABLE 261         AKAY NATURAL INGREDIENTS PRIVATE LIMITED: COMPANY OVERVIEW        230

TABLE 262         SOLVAY SA: COMPANY OVERVIEW        231

TABLE 263         OZONE NATURALS: COMPANY OVERVIEW        231

TABLE 264         BASF SE: COMPANY OVERVIEW 232

TABLE 265         AROMATECH SAS: COMPANY OVERVIEW           232

TABLE 266         BEDOUKIAN RESEARCH INC.: COMPANY OVERVIEW     233

TABLE 267         ALPHA AROMATICS: COMPANY OVERVIEW       233

TABLE 268         AROMA INGREDIENTS MARKET, BY REGION, 2016–2023 (USD MILLION)          235

TABLE 269         EUROPE: AROMA INGREDIENTS MARKET, BY COUNTRY,

2016–2023 (USD MILLION)          236

TABLE 270         ASIA PACIFIC: AROMA INGREDIENTS MARKET, BY COUNTRY,

2016–2023 (USD MILLION)          236

TABLE 271         NORTH AMERICA: AROMA INGREDIENTS MARKET, BY COUNTRY,

2016–2023 (USD MILLION)          237

TABLE 272         MIDDLE EAST & AFRICA: AROMA INGREDIENTS MARKET, BY COUNTRY,

2016–2023 (USD MILLION)          237

TABLE 273         SOUTH AMERICA: AROMA INGREDIENTS MARKET, BY COUNTRY,

2016–2023 (USD MILLION)          238

LIST OF FIGURES

FIGURE 1           FLAVORS & FRAGRANCES MARKET: RESEARCH DESIGN 30

FIGURE 2           MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1

(SUPPLY SIDE)—COLLECTIVE SHARE OF KEY PLAYERS 33

FIGURE 3           MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2

(SUPPLY SIDE)—COLLECTIVE REVENUE OF ALL PRODUCTS     34

FIGURE 4           MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3

(DEMAND SIDE)—PRODUCTS SOLD     34

FIGURE 5           MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 4–TOP-DOWN APPROACH             35

FIGURE 6           FLAVORS & FRAGRANCES MARKET: DATA TRIANGULATION              36

FIGURE 7           CAGR PROJECTIONS FROM SUPPLY SIDE           37

FIGURE 8           MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES             38

FIGURE 9           SYNTHETIC INGREDIENTS TO ACCOUNT FOR LARGER MARKET SHARE             40

FIGURE 10         BEVERAGES SEGMENT TO CONTINUE TO DOMINATE MARKET IN 2029 41

FIGURE 11         CONSUMER PRODUCTS SEGMENT TO DOMINATE MARKET DURING

FORECAST PERIOD       41

FIGURE 12         SOUTH AMERICA TO REGISTER HIGHEST CAGR IN FLAVORS & FRAGRANCES MARKET DURING FORECAST PERIOD      42

FIGURE 13         INCREASING DEMAND FOR NATURAL FLAVORS & FRAGRANCES TO DRIVE MARKET          43

FIGURE 14         SOUTH AMERICA TO WITNESS FASTEST GROWTH DURING FORECAST PERIOD       43

FIGURE 15         BEVERAGES SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2023  44

FIGURE 16         CONSUMER PRODUCTS SEGMENT DOMINATED FRAGRANCES MARKET ACROSS ALL REGIONS             44

FIGURE 17         IRAN TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD              45

FIGURE 18         FLAVORS & FRAGRANCES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,

AND CHALLENGES        46

FIGURE 19         FLAVORS & FRAGRANCES MARKET: PORTER’S FIVE FORCES ANALYSIS          50

FIGURE 20         FLAVORS & FRAGRANCES MARKET: SUPPLY CHAIN       53

FIGURE 21         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS IN TOP-THREE END-USE INDUSTRIES OF FLAVORS & FRAGRANCES      54

FIGURE 22         KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES OF FLAVORS & FRAGRANCES    55

FIGURE 23         INDICATIVE AVERAGE SELLING PRICE TREND OF FLAVORS & FRAGRANCES,

BY REGION (USD/KG)   56

FIGURE 24         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES              57

FIGURE 25         ECOSYSTEM OF FLAVORS & FRAGRANCES MARKET       58

FIGURE 26         IMPORT OF FLAVORS, BY KEY COUNTRY, 2017–2022 (USD MILLION)          62

FIGURE 27         IMPORT OF FRAGRANCES, BY KEY COUNTRY, 2017–2022 (USD MILLION)          63

FIGURE 28         EXPORT OF FLAVORS, BY KEY COUNTRY, 2017–2022 (USD MILLION)          64

FIGURE 29         EXPORT OF FRAGRANCES, BY KEY COUNTRY, 2017–2022 (USD MILLION)          65

FIGURE 30         PATENTS REGISTERED FOR FLAVORS & FRAGRANCES, 2013–2023      71

FIGURE 31         LIST OF MAJOR PATENTS FOR FLAVORS & FRAGRANCES              72

FIGURE 32         LEGAL STATUS OF PATENTS FILED IN FLAVORS & FRAGRANCES   74

FIGURE 33         MAXIMUM PATENTS FILED IN JURISDICTION OF CHINA              75

FIGURE 34         SYNTHETIC INGREDIENTS WILL CONTINUE TO DOMINATE MARKET DURING FORECAST PERIOD   77

FIGURE 35         BEVERAGES SEGMENT TO DOMINATE MARKET IN 2024              81

FIGURE 36         CONSUMER PRODUCTS TO DOMINATE FRAGRANCES MARKET DURING

FORECAST PERIOD       89

FIGURE 37         ASIA PACIFIC WILL CONTINUE TO DOMINATE MARKET DURING FORECAST PERIOD     94

FIGURE 38         ASIA PACIFIC: FLAVORS & FRAGRANCES MARKET SNAPSHOT              97

FIGURE 39         EUROPE: FLAVORS & FRAGRANCES MARKET SNAPSHOT              128

FIGURE 40         NORTH AMERICA: FLAVORS & FRAGRANCES MARKET SNAPSHOT        143

FIGURE 41         MARKET SHARE OF KEY PLAYERS IN FLAVORS & FRAGRANCES MARKET, 2023  171

FIGURE 42         RANKING OF PLAYERS IN FLAVORS & FRAGRANCES MARKET, 2023      172

FIGURE 43         REVENUE ANALYSIS OF KEY PLAYERS IN FLAVORS & FRAGRANCES MARKET, 2019–2023 (USD MILLION)         173

FIGURE 44         FLAVORS & FRAGRANCES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023    175

FIGURE 45         FLAVORS & FRAGRANCES MARKET: COMPANY FOOTPRINT              176

FIGURE 46         FLAVORS & FRAGRANCES MARKET: COMPANY EVALUATION MATRIX (STARTUP/SMES), 2023             181

FIGURE 47         FLAVORS & FRAGRANCES MARKET: BRAND/PRODUCT COMPARISON   183

FIGURE 48         EV/EBITDA OF KEY MANUFACTURERS OF FLAVORS & FRAGRANCES   184

FIGURE 49         ENTERPRISE VALUATION (EV) OF KEY PLAYERS IN FLAVORS &

FRAGRANCES MARKET 185

FIGURE 50         GIVAUDAN SA: COMPANY SNAPSHOT (2023)     191

FIGURE 51         INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY SNAPSHOT (2023)          196

FIGURE 52         DSM-FIRMENICH AG: COMPANY SNAPSHOT (2023)        201

FIGURE 53         SYMRISE AG: COMPANY SNAPSHOT (2023)         206

FIGURE 54         TAKASAGO INTERNATIONAL CORPORATION: COMPANY SNAPSHOT (2023)          210

FIGURE 55         SENSIENT TECHNOLOGIES CORPORATION: COMPANY SNAPSHOT (2023)          214

FIGURE 56         ADM: COMPANY SNAPSHOT (2023)        217

FIGURE 57         MANE: COMPANY SNAPSHOT (2023)     218

FIGURE 58         ROBERTET GROUP: COMPANY SNAPSHOT (2023)          221

FIGURE 59         T. HASEGAWA CO., LTD.: COMPANY SNAPSHOT             223