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Global Markets for Flavors and Fragrances

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  • 1. Global Markets for Flavors and FragrancesReport Details:Published:May 2012No. of Pages: 153Price: Single User License – US$4850Corporate User License – US$8500REPORT HIGHLIGHTS•The worldwide flavor and fragrance market was worth an estimated $21.8 billion in 2011. This figure is projected to exceed $23 billion in 2012 and $30 billion in 2017, a compound annual growth rate (CAGR) of 5.6% between 2012 and 2017.•The global market for fragrances was worth $11.2 billion in 2011. This figure is projected to exceed $11.9 billion in 2012 and $15.7 billion in 2017, a CAGR of 5.8%.•The global flavor industry was worth $10.6 billion in 2011. This market is expected to grow to nearly $11.1 billion in 2012 and $14.5 billion in 2017, a CAGR of 5.4%.INTRODUCTIONOBJECTIVES AND GOALS OF STUDYThis report is an updated edition of an earlier (2006) BCC Research report. Its objective is toprovide the reader with a comprehensive analysis of the market environment, competitivestructure and end-use markets of the flavor and fragrance industry, based on more recentavailable data. Technological developments, future trends and emerging opportunities within theindustry are thoroughly examined. The information provided in this report will be of great value tothose involved in strategic planning, marketing, sales and technological development.Specific goals of this study are to•Assess recent technology developments.•Identify demand drivers.•Make available the most current and reliable information on the consumption of flavors and fragrances in different end-use sectors.•Project the future demand through 2017, including application regional segments.•Quantify current and projected demand for key flavor and fragrance ingredients such as essential oils and aroma chemicals.•Analyze developments in the structure of the flavor and fragrance industry.REASONS FOR DOING THE STUDYMarkets for constituents of flavors and fragrance are undergoing significant changes. Some of thefactors influencing the markets are as follows:•Newer flavors and fragrances.
  • 2. •Newer methods of manufacturing ingredients, including biotechnological routes.•Changing tastes and styles due to growth in markets for ethnic flavors.•Advances in science and development of new materials.•Trend toward the use of more natural products.•Demand from increasing middle and affluent classes in developing countries such as China and India.•Increasing supplies from developing countries that will influence the raw material prices for the flavor and fragrance industry.Given these conditions, there is a need for a current, comprehensive report on the flavor andfragrance market covering the areas of technology, demand trends, project opportunities andinvestment levels.The report examines the commercial applications currently practiced worldwide in conjunction withtheir respective markets and growth opportunities. An evaluation of the viability of the marketpenetration for the newer grades of materials, as well as their applications and salability, is alsoincluded in this study.This study gives a clear, quantitative picture of the supply and demand scenario while evaluatingtechnological and investment opportunities in the field.SCOPE OF STUDYThis study covers global markets for materials used in the flavor and fragrance industry. Itanalyzes the market by both the end-use markets and the major types of materials used within theindustry, covering both synthetic and natural ingredients.The study also discusses the emerging trends of these industries and technological developments,including some of the patents in the field. It also looks into the regulatory roles governing theindustry and some of the testing typically used by manufacturers to comply with the regulations forproducing safe products. It provides market shares of major companies and provides the profilesand contact information of industry leaders in the field.TARGET AUDIENCEThis study will be of great interest to those interested in the commercial aspects of the flavor andfragrance industry or for businesses and investors interested in assessing the scope of the field.The readers are likely to hold positions in strategic planning, new business development,marketing, product management, sales or analysts/investment advisors. Research scientistsinterested in pursuing the industrial applications of enzymes will also find this study of value.METHODOLOGYThis study is based on exhaustive primary and secondary research in addition to the information inour in-house database. The primary research includes consultation with industry experts in thefield, including contacts with companies actively involved in this field and with trade associations.Secondary research includes extensive review of the literature, including trade journals, seminarproceedings, patent literature, company literature, published reports and government publications.ANALYSTS’ CREDENTIALSThe study on which this updated report is based was carried out by a team of chemicalengineering consultants led by senior consultant, N.S. Venkataraman, a chemical engineer withmore than 30 years of experience in various positions relating to chemical, pharmaceutical and
  • 3. related industries. Other team members included D. Panneerselvam, T.K. Parija, P.Govindanayagi and K. Geetha. All the members of the team are practicing chemical engineers orchemists with extensive experience as business consultants in chemical and related industries.The analyst responsible for updating the report is Andrew McWilliams, a partner in theBoston–based international technology and marketing consulting firm, 43rd Parallel LLC.McWilliams is the author or co-author of numerous other BCC studies, including such recentstudies as AVM016F Sol-Gel Processing of Ceramics and Glass; AVM078A New ElectronicMaterials and Device Technologies: Global Markets; AVM015F High-Performance CeramicCoatings: Markets and Technologies; HLC014E Global Markets for Telemedicine Technologies;and CHM020D Catalysts for Environmental and Energy Applications.Get your copy of this report @http://www.reportsnreports.com/reports/162921-global-markets-for-flavors-and-fragrances.htmlMajor points covered in Table of Contents of this report includeTable of ContentsChapter- 1: INTRODUCTIONOBJECTIVES AND GOALS OF STUDYREASONS FOR DOING THE STUDYSCOPE OF STUDYTARGET AUDIENCEMETHODOLOGYANALYSTS’ CREDENTIALSRELATED BCC PUBLICATIONSBCC ON-LINE SERVICESDISCLAIMERChapter- 2: SUMMARYTable Summary : GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES,THROUGH 2017Figure Summary : GLOBAL MARKET FORECAST FOR KEY INGREDIENTS USED IN FLAVORSAND FRAGRANCES, 2011-2017Chapter- 3: OVERVIEWTYPES OF INGREDIENTSSYNTHETIC INGREDIENTSNATURAL INGREDIENTSHISTORICAL OVERVIEWChapter- 4: TECHNOLOGY OVERVIEWCONVENTIONAL TECHNOLOGIESENZYMATIC ROUTESCHEMICAL METHODSFLAVOR ENCAPSULATION
  • 4. Chapter- 5: FLAVOR AND FRAGRANCE INDUSTRY BY END-USE MARKETSREGIONAL MARKETS FOR FLAVOR AND FRAGRANCE MATERIALSFRAGRANCE MARKETSEND-USE MARKETS FOR FLAVORINGSTable 11 : GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES BY REGION,THROUGH 2017Figure 2 : GLOBAL FLAVOR AND FRAGRANCE MARKET BY REGION, 2011Chapter- 6: MARKET BY INGREDIENT PRODUCTSESSENTIAL OILSAROMA CHEMICALSTable 23 : GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORINGS ANDFRAGRANCES, THROUGH 2017Chapter- 7: ENVIRONMENTAL REGULATIONSREGULATORY REQUIREMENTS FOR FLAVORSREGULATORY REQUIREMENTS FOR FRAGRANCESChapter- 8: INDUSTRY TRENDSECONOMIC TRENDS AND MARKET CONDITIONSAPPLICATION DEVELOPMENTRAW MATERIAL SOURCINGCOMPARISON OF NATURAL VERSUS SYNTHETICSFLAVOR AND FRAGRANCE COMPANIES’ RANGE OF PRODUCTSBUSINESS CHARACTERISTICSBUSINESS STRATEGIESMERGERS AND ACQUISITIONSCRITICAL AREAS OF FOCUSChapter- 9: PATENT ANALYSIS AND PATENT AND TECHNOLOGY DESCRIPTIONSINTRODUCTIONPATENT ACTIVITY FOR FLAVORS AND FRAGRANCESTRENDS BY ASSIGNEEPATENT AND TECHNOLOGY CLASSIFICATIONChapter- 10: PROFILES OF INDUSTRY LEADERSFIRMENICHFLAVORS & FRAGRANCES GROUP (SENSIENT TECHNOLOGIES)FRUTAROMGIVAUDANT. HASEGAWAINTERNATIONAL FLAVORS & FRAGRANCES (IFF)MANEROBERTETSYMRISE (FORMERLY DRAGOCO)TAKASAGOOTHER ORGANIZATIONS
  • 5. List of TablesSummary Table : GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES,THROUGH 2017Table 1 : SYNTHETIC BENZENOIDS USED IN FLAVORS AND FRAGRANCESTable 2 : SYNTHETIC TERPENES OR TERPENOIDS USED IN FLAVORS AND FRAGRANCESTable 3 : MISCELLANEOUS SYNTHETIC AROMA CHEMICALS USED IN FLAVORS ANDFRAGRANCESTable 4 : PLANTS AS SOURCES OF ESSENTIAL OILSTable 5 : ESSENTIAL OILS USED IN FLAVORS AND FRAGRANCESTable 6 : NATURAL BENZENOIDS USED IN FLAVORS AND FRAGRANCESTable 7 : TERPENES OR TERPENOIDS USED IN FLAVORS AND FRAGRANCESTable 8 : MISCELLANEOUS AROMA CHEMICALS USED IN FLAVORS AND FRAGRANCESTable 9 : TIME LINE OF THE DEVELOPMENT OF FLAVORS AND FRAGRANCESTable 10 : GLOBAL MARKET FORECAST FOR FLAVOR AND FRAGRANCE END-USEMARKETS, THROUGH 2017Table 11 : GLOBAL MARKET FORECAST FOR FLAVORS AND FRAGRANCES BY REGION,THROUGH 2017Table 12 : GLOBAL MARKET FORECAST FOR FRAGRANCES BY END-USE MARKET,THROUGH 2017Table 13 : GLOBAL MARKET FORECAST FOR FRAGRANCES IN COSMETICS ANDTOILETRIES BY PRODUCT, THROUGH 2017Table 14 : GLOBAL END-USE MARKET VOLUMES FOR COSMETICS AND TOILETRIES BYREGION, 2011Table 15 : GLOBAL MARKET FORECAST FOR FLAVORINGS BY END-USE MARKET,THROUGH 2017Table 16 : GLOBAL END-USE MARKET FORECAST FOR FLAVORS IN BEVERAGES BYPRODUCT, THROUGH 2017Table 17 : GLOBAL MARKET VOLUMES FOR BEVERAGE TYPES, 2011Table 18 : GLOBAL MARKET FORECAST FOR FLAVORINGS IN OTHER END-USE MARKETS,THROUGH 2017Table 19 : GLOBAL MARKET VOLUMES FOR CONFECTIONERY INDUSTRY, BY REGION,2011Table 20 : GLOBAL MARKET VOLUMES FOR THE BAKED GOODS INDUSTRY, BY REGION,2011Table 21 : GLOBAL MARKET FORECAST FOR MAJOR INGREDIENTS USED IN FLAVORINGSAND FRAGRANCES, THROUGH 2017Table 22 : GLOBAL MARKET FORECAST FOR ESSENTIAL OILS AND AROMATICS USED INFLAVORINGS AND FRAGRANCES BY REGION, THROUGH 2017Table 23 : GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORINGS ANDFRAGRANCES, THROUGH 2017Table 24 : GLOBAL MARKET FORECAST FOR ESSENTIAL OILS USED IN FLAVORS ANDFRAGRANCES BY REGION, THROUGH 2017
  • 6. Table 25 : GLOBAL MARKET FORECAST FOR AROMA CHEMICALS USED IN FLAVORINGSAND FRAGRANCES BY PRODUCT, THROUGH 2017Table 26 : GLOBAL MARKET FORECAST FOR AROMA CHEMICALS USED IN FLAVORINGSAND FRAGRANCES, BY REGION, THROUGH 2017Table 27 : GLOBAL MARKET FORECAST FOR BENZENOID USED IN FLAVORINGS ANDFRAGRANCES, BY PRODUCT, THROUGH 2017Table 28 : GLOBAL MARKET FORECAST FOR BENZENOID USE IN FRAGRANCES ANDFLAVORS BY REGION, THROUGH 2017Table 29 : GLOBAL MARKET FORECAST FOR TERPENE USE IN FLAVORS ANDFRAGRANCES BY PRODUCT, THROUGH 2017Table 30 : GLOBAL MARKET FORECAST FOR TERPENE USE IN FLAVORS ANDFRAGRANCES BY REGION, THROUGH 2017Table 31 : GLOBAL MARKET FORECAST FOR MUSK CHEMICAL USE IN FLAVORINGS ANDFRAGRANCES BY PRODUCT, THROUGH 2017Table 32 : GLOBAL MARKET FORECAST FOR MUSK CHEMICALS, BY REGION, THROUGH2017Table 33 : GLOBAL MARKET VOLUMES FOR MISCELLANEOUS AROMA CHEMICALS USEDIN FLAVORINGS AND FRAGRANCES BY MAJOR PRODUCT TYPE, THROUGH 2017Table 34 : GLOBAL MARKET FORECAST FOR AROMA CHEMICALS (MISCELLANEOUS) BYREGION, THROUGH 2017Table 35 : PATENT ANALYSIS FOR SELECTED ORGANIZATIONS, 1976-MARCH 2012Table 36 : MARKET SHARE OF INDUSTRY LEADERS IN THE FLAVOR AND FRAGRANCEINDUSTRY, 2011Table 37 : HISTORICAL DEVELOPMENT OF T. HASEGAWATable 38 : HISTORICAL DETAILS OF INTERNATIONAL FLAVORS AND FRAGRANCESTable 39 : HISTORICAL DEVELOPMENT OF ROBERTETTable 40 : MILESTONES IN THE HISTORY OF SYMRISETable 41 : HISTORICAL DEVELOPMENTS OF TAKASAGOTable 42 : MAJOR FLAVOR AND FRAGRANCE ASSOCIATIONSList of FiguresSummary Figure : GLOBAL MARKET FORECAST FOR KEY INGREDIENTS USED IN FLAVORSAND FRAGRANCES, 2011-2017Figure 1 : GLOBAL FLAVOR AND FRAGRANCE MARKET, 2011Figure 2 : GLOBAL FLAVOR AND FRAGRANCE MARKET BY REGION, 2011Figure 3 : GLOBAL FRAGRANCE END-USE MARKETS, 2011Figure 4 : GLOBAL MARKET FOR FRAGRANCE USE IN COSMETICS AND TOILETRIES BYPRODUCTS, 2011Figure 5 : GLOBAL COSMETICS AND TOILETRIES END-USE MARKETS, BY REGION, 2011Figure 6 : GLOBAL FLAVOR END-USE MARKET, 2011Figure 7 : GLOBAL END-USE MARKET FOR FLAVORS IN BEVERAGES BY PRODUCT, 2011Figure 8 : GLOBAL MARKET FOR BEVERAGE TYPES, 2011Figure 9 : GLOBAL MARKET FOR FLAVORS IN OTHER END-USE MARKETS, 2011
  • 7. Figure 10 : GLOBAL MARKET SHARES OF THE CONFECTIONERY INDUSTRY, BY REGION,2011Figure 11 : GLOBAL MARKET SHARES OF THE BAKED GOODS INDUSTRY, BY REGION,2011Figure 12 : MARKET SHARES OF INGREDIENTS USED IN FLAVORINGS AND FRAGRANCES,2011Figure 13 : GLOBAL MARKET SHARES OF ESSENTIAL OILS, BY REGION, 2011Figure 14 : GLOBAL MARKET FOR AROMA CHEMICALS USED IN FLAVORS ANDFRAGRANCES, 2011Figure 15 : GLOBAL MARKET FOR BENZENOIDS USED IN FLAVORS AND FRAGRANCES,2011 TO 2017Figure 16 : GLOBAL MARKET VOLUMES FOR TERPENE USE IN FLAVORS ANDFRAGRANCES, 2011 TO 2017Figure 17 : GLOBAL SYNTHETIC MUSK MARKET, 2011Figure 18 : TREND- IN NUMBER OF U.S. PATENTS ISSUED ANNUALLY FOR FLAVORS,1976–2010Figure 19 : GENERAL TRENDS OF U.S. PATENTS ISSUED FOR FRAGRANCES, 1976–2010Figure 20 : PATENT ANALYSIS FOR SELECTED ORGANIZATIONS, 1976-MARCH 2012Contact: sales@reportsandreports.com for more information.