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Thursday, April 28, 2022

GCC Flavours and Fragrance Market to be Driven by the Flourishing Hospitality Sector in the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘GCC Flavours and Fragrance Market Report and Forecast 2022-2027’, gives an in-depth analysis of the GCC flavours and fragrance market, assessing the flavours market based on its segments like types, form, applications, and major countries and fragrance market based on segments like types, applications, and major countries. 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 analyzing 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 (2020): USD 2.6 Billion (MEA Flavours and Fragrance Market)
  • Forecast CAGR (2022-2027): 6% (MEA Flavours and Fragrance Market)

The market is being driven by robust demand for natural flavours and fragrance in the region. Owing to rising standards of living, people are increasingly using natural fragrances like oud in perfumes, room fresheners and essential oils, which is a significant factor driving the industry growth. In addition, the demand for exquisite fragrances in cosmetic products as a result of emerging use of personal care products in the region is adding to market growth. Furthermore, owing to the presence of multi-cultural population in major gulf countries including the United Arab Emirates, the demand for varied food flavours for different cuisines is another factor shaping the market growth in the region.

Industry Definition and Segmentation

Flavours refer to ingredients that are added to consumable items like beverages, bakery products, and other food items to enhance the taste and aroma. Fragrance, on the other hand, refers to a pleasing odour, commonly found in products like perfumes, cosmetics, and detergents.

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The market is broadly categorised into two segments:

  • Flavours
  • Fragrances

The GCC market for flavours, on the basis of type, can be segmented into:

  • Artificial
  • Natural
  • Nature-Identical

Based on form, the GCC market for flavour can be categorised into:

  • Liquid
  • Dry

On the basis of application, the GCC market for flavour can be divided into:

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

On the basis of application, the GCC market for fragrance can be bifurcated into:

  • Soap and Detergents
  • Cosmetics and Toiletries
  • Fine Fragrances
  • Households Cleaners and Fresheners
  • Others

Based on country, the industry can be divided into:

  • Saudi Arabia
  • United Arab Emirates
  • Kuwait
  • Qatar
  • Bahrain
  • Oman

Market Trends

The GCC market for food and flavours is anticipated to benefit from the flourishing hospitality sector in the region. Owing to developments in the form of infrastructure and foreign investments, there has been a substantial rise in the tourist population in major gulf countries like the United Arab Emirates. This is augmenting the demand for fragrance in products like household cleaners, soaps and detergents, and toiletries to provide an excellent living experience to the tourists. In addition, the flavours segment is also witnessing growth in the requirement for diverse food flavours to cater the demand of its extensive tourist population. In addition, the progress and success of quick service restaurants and fine dine restaurants are pushing the demand for unique flavours, thus providing impetus to the market. Hence, these are some factors driving the market growth in the GCC region.

Key Market Players

The major players in the market are International Flavours & Fragrances Inc., Givaudan SA, Firmenich SA, and Gulf Flavours & Food Ingredients FZCO, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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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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