The Flavors & Fragrances Market is projected to grow from an estimated USD 21.15 billion in 2017 to USD 24.13 billion by 2022, at a CAGR of 2.67% between 2017 and 2022.

Browse 91 Tables and 42 Figures spread through 122 Pages and in-depth TOC on "Flavors & Fragrances Market by Ingredients (Natural, Synthetic), End use (Beverage, Savory & Snacks, Bakery, Dairy Products, Confectionery, Consumer Products, Fine Fragrances), and Region (Asia Pacific, North America, Europe) - Global Forecast to 2022".

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Key players operating in the flavors & fragrances market include Givaudan (Switzerland), International Flavors & Fragrances Inc.(IFF) (US), Firmenich (Switzerland), MANE (France), Symrise (Germany), Sensient (US),Takasago (Japan), Frutarom (Israel), Robertet (France), and T.HASEGAWA (Japan).

Givaudan is a leading manufacturer of flavors and fragrances globally. The company offers a range of flavors & fragrances for confectionery, beverage, dairy, savory, functional cleaners, laundry, and personal care products. In October 2017, the company laid the foundation for a new production hub in Changzhou, Jiangsu Province, China. The new facility will be used for the production of fragrances, oral care flavors, and encapsulation. This is expected to help the company cater to the growing demand for flavors and fragrances in China. The company is also focusing on acquisitions and joint ventures to meet the growing demand for flavors & fragrances.

Based on end use, the flavors market is segmented into beverage, savory & snacks, bakery, dairy products, and confectionery, among others. Dairy products is estimated to be the fastest-growing end-use segment of the flavors market during the forecast period. Growing awareness among the younger population related to functional ingredients contained in dairy products is driving the demand for dairy products, which in turn is driving the dairy flavors market.

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Based on end use, the fragrances market is segmented into consumer products and fine fragrances. Fine fragrances are estimated to be the fastest-growing end-use segment of the fragrances market during the forecast period, due to increasing consumer spending on premium fragrances.

Based on region, the Asia Pacific is projected to be the largest market for flavors & fragrances between 2017 and 2022. The increasing demand for a variety of food products and consumer goods, such as home care and personal care products due to rapidly growing populations, increase in disposable incomes, and change in consumer preferences is fueling the growth of the flavors & fragrances market in the region. Most of the key players operating in the flavors & fragrances market have their offices and manufacturing units in the region.

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