The flavors and fragrances market worldwide is predicted to attain a value of USD 27.22 billion by 2021 and grow at a compounded annual growth rate of 5.3% during the forecast period. The growth in revenue of the flavors and fragrances market can be attributed to the growing requirement for organic flavors and fragrances and their increased use in the pharmaceutical and healthcare sectors. They are used to enhance the taste and smell of bitter medicines and are added to tablets, syrups, emulsions, ODT, and elixirs, among other things, to make them more palatable, especially for infants and children. One example of a flavoring agent used in pharmaceutical products is menthol, which is commonly found in antacid pills, expectorant tablets, and suspensions. It is mainly utilized in topical treatments and can produce a cooling or refreshing sensation. Due to concerns over environmental deterioration, there is a greater demand for natural or organic flavors and fragrances among consumers.

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Top Companies:

Givaudan, ADM, International Flavors Fragrances Inc., MANE, Takasago International Corporation, Sensient Technologies Corporation, Bell Flavors Fragrances, Firmenich SA, T. Hasegawa Co. Ltd., and Symrise AG.

Major Driving Factors of Flavors and Fragrances Market

• Increasing demand for organic and natural products: With growing concerns about health and environmental sustainability, consumers are increasingly demanding products that are made from natural and organic ingredients. This trend has extended to the flavors and fragrances industry, leading to a surge in demand for natural and organic flavors and fragrances.
• Use in the food and beverage industry: Flavors are widely used in the food and beverage industry to enhance taste and aroma. The growing demand for processed and convenience food products is driving the demand for flavors and fragrances.
• Use in the pharmaceutical industry: Flavors and fragrances are widely used in the pharmaceutical industry to mask the unpleasant taste and odor of medicines. As the demand for medicines and healthcare products continues to rise, the demand for flavors and fragrances in this sector is also increasing.
• Use in the personal care and cosmetics industry: Fragrances are widely used in personal care and cosmetic products, such as perfumes, deodorants, and lotions. The growing demand for personal care and cosmetic products is driving the demand for fragrances.

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This report analyzes the Flavors and Fragrances market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Flavors and Fragrances market is provided to gain a deeper understanding of its growth and progress.

The global Flavors and Fragrances market is segmented into:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further market segmentation

Type Outlook:

• Natural
• Synthetic

Application Outlook:

• Food Beverages
• Beauty Personal Care
• Pharmaceuticals Healthcare
• Homecare
• Fabric Care
• Others

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market? What kind of strategic business plans have they made?

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