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Monday, January 24, 2022

North America Flavours and Fragrances Market to be driven by the rising demand for consumer products in the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘North America Flavours and Fragrances Market Report and Forecast 2022-2027’, gives an in-depth analysis of the North America flavours and fragrances market, assessing the market based on segment, type and country. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Historical Market Size (2021): USD 28 billion

The North America flavours and fragrances market has seen substantial growth due to factors such as the rising consumer willingness to try out new flavours and fragrances and the rise in the GDP. Consumers are increasingly purchasing non-essential food products with innovative and unique flavours and combinations, such as chilli chocolate, as their disposable incomes rise. The demand for low-calorie and low-carbohydrate food and beverage items is increasing as customers become more health conscious as the number of people suffering from obesity and diabetes rises. This contributes to the growth of the flavour industry, as these products require new flavours. The increased demand for juices and RTD beverages is also helping the industry. The segment's rise is being fueled by an increase in the consumption of flavoured milk as a substitute for carbonated beverages. The growing personal care and cosmetics industry in North America also helps the flavour and fragrance industry in the region. The surge in luxury cosmetics consumption is driving the cosmetics industry in this comparatively mature market. The fragrance industry is benefiting from the continued expansion of the cosmetics industry, since fragrance has become an essential component of personal care goods. Consumers are increasingly looking for perfumes that are natural or organic. The fragrance segment is also benefiting from increased demand from the soaps and detergents industry.

Industry Definition and Major Segments

Flavour is added to a product to change or improve the way the mouth perceives the taste of the material. Fragrance, on the other hand, refers to the compounds used to give products like foods, cosmetics, and detergents a sweet or pleasant odour.

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Based on the segment, the market is divided into:

  • Flavours
  • Fragrances

Based on the type, the market is divided into:

  • Synthetic
  • Natural

Based on the country, the market is divided into:

  • USA
  • Canada

Based on the flavouring agent, North America flavours segment is further divided into:

  • Nature Identical Flavouring Substance
  • Artificial Flavouring Substance
  • Natural Flavours

Based on the form, the industry is divided into:

  • Liquid
  • Dry

Based on the application, the industry is divided into:

  • Beverages
  • Bakery and Confectionary Products
  • Dairy and Frozen Desserts
  • Savouries and Snacks

Based on the type, North America fragrances segment is further divided into:

  • Synthetic
  • Natural

Based on the fragrance type, the industry is divided into:

  • Flowers
  • Fruits
  • Musk
  • Wood
  • Spice
  • Others

Based on the application, the industry is divided into:

  • Soap and Detergent
  • Cosmetics and Toiletries
  • Fine Fragrances
  • Household Cleaners and Air Fresheners
  • Others

Market Trends

North America is the second largest regional market for flavours and fragrances. The United States market dominates the region, accounting for more than three-quarters of the market. While North America, like Western Europe, is a mature market, the region's sector is driven by the region's expanding high-income class, particularly in the United States. By 2030, North America is predicted to house about half of the world's high-income population. The high-income class is boosting demand for luxury products such as high-end cosmetics and organic foods. While the rise of the middle class in the United States has slowed, it still accounts for more than half of the population. The middle class, which has seen an increase in disposable income, is helping the sector by consuming more processed foods and beverages that are infused with new flavours.

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Key Market Players

The major players in the market are Givaudan SA, Firmenich SA, International Flavors & Fragrances, Inc., Symrise AG, WILD Flavors, Inc., Takasago International Corp, Mane SA, Technologies Corp., Robertet Group, T. Hasegawa Co., Ltd., Kerry Group, among others.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

Media Contact

Company Name: EMR Inc.
Contact Person:-Ian Bell, Business Consultant
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**We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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