1. World Flavors & Fragrances
Report Details:
Published:October 2012
No. of Pages: 388
Price: Single User License â US$6100
Global demand to rise 4.4% annually through 2016
Worldwide demand for flavors and fragrances -- including flavor blends, fragrance blends,
essential oils, and aroma chemicals -- will rise 4.4 percent annually through 2016, reaching $26.5
billion. Increasing packaged food manufacturing, especially of convenience products that require
higher flavor usage, will drive fast growth in developing countries. Rising personal consumption
expenditures in these emerging economies will also stimulate toiletry and cleaner shipments,
which will contribute to healthy growth in fragrance blends. Increasing global interest in products
that promote health benefits will also drive demand in both the food and beverage and cosmetics
and toiletry markets, as masking flavors and fragrances are employed in conjunction with
antioxidants and vitamins to reduce off-tastes and off-odors. Furthermore, efforts in developed
countries to reduce calories, salt, and fat in foods will increase demand for flavors to improve the
taste of those products.
Consumer trends favoring higher value products
Globally, there has been a rising interest in natural, organic, and more expensive products across
a number of consumer markets, including food and beverages and toiletries and cleaners. Industry
efforts to meet this demand will drive increased value consumption of nearly all types of flavors
and fragrances, with the exception of aroma chemicals, which will be replaced by essential oils in
certain product categories.
Food & beverage market to benefit from urbanization & health concerns
Rapidly rising incomes and urbanization in developing countries is spurring interest in convenient
packaged foods and fast food, which will also boost growth in the food and beverage market, as
packaged goods require high flavoring loadings to preserve taste in the face of large-scale
manufacturing. This will lead to particularly fast growth in countries such as China and India in the
Asia/ Pacific region, as well as countries in Central and South America. In developed countries,
food and beverage flavor and fragrance demand will benefit from increasing customer interest in
vitamincontaining foods, which require flavors to mask the unpleasant taste of these ingredients,
and growing concerns about obesity. Government programs to reduce calories, fats, and sodium
in foods will favor healthier alternatives that generally require more flavors to preserve good taste.
However, the long term impact of this effort will depend on consumer acceptance.
Health concerns to also drive toiletry/cleaner uses
2. Health concerns will also drive growth in the toiletry and cleaner market. Cosmeceuticals
and anti-aging cream, popular among the expanding older segments of the population in
developed countries, contain additives with off-odors that must be masked by fragrances.
However, increasing consumer interest in fragrancefree products, as well as limited opportunities
in the cleaner market, will limit even faster advances. While demand in developed countries is
relatively mature, the continued recovery in cosmetics and toiletry shipments from the 2009 global
economic recession will improve consumption of fragrances in areas such as Western Europe and
North America.
COMPANY PROFILES
Profiles 37 global players such as Firmenich, Givaudan, International Flavors & Fragrances, and
Symrise
Additional Information
This study analyzes the global market for flavors and fragrances. Products covered include flavor
and fragrance blends, essential oils and natural extracts, and synthetic and natural aroma
chemicals. The outlook for major markets is also discussed, with a focus on food and beverages
and toiletries and cleaners, among others. Although they are important flavoring agents, flavor
enhancers, artificial and natural sweeteners, and separately sold spices are not included in the
scope of this study. However, in some instances this study includes mixtures of flavor chemicals
that contain the aforementioned items.
Historical data for 2001, 2006, and 2011, and forecasts to the years 2016 and 2021 are provided
in current US dollars (including inflation) unless otherwise noted. The term âdemandâ refers to
âapparent consumption,â and is defined as shipments (also referred to variously as âproduction,â
âoutput,â or âsupplyâ) from a countryâs indigenous flavor and fragrance manufacturing facilities plus
imports minus exports. The term âdemandâ is used interchangeably with the terms âmarket,â
âsales,â and âconsumption.â It should be noted that in order to properly acknowledge each
countryâs role in the industry, supply and demand data presented in this study are defined to
include aroma chemicals and essential oils, and thus inevitably include some double counting at
the market level. The data thus may overstate other estimates of a specific countryâs flavor and
fragrance markets that include only the value of the finished products. This will especially be the
case in countries with large export-oriented flavor and fragrance sectors.
Food and beverage manufacturing value added includes tobacco manufacturing as well. However,
this study focuses on food and beverages, which accounts for the majority of manufacturing value
added in this industry.
Historical toiletry and cleaner shipments for individual countries were determined in the local
currency and then converted to US dollars using the average annual exchange rate of that
countryâs currency to the US dollar for that year as determined by the International Monetary Fund.
Consequently, countries whose currencies appreciably changed in value relative to the US dollar
from one presentation year to the next will have historical toiletry and cleaner shipment growth
trends that differ significantly from those that occurred in local currency terms. Forecasts for 2016
and 2021 assume no change in the exchange rate from 2011, and as a result reflect expected
future growth in both local and US dollar terms.
3. Data on world flavor and fragrance supply and demand are derived from differing sources and
developed from statistical relationships. As a result, variations are commonplace in this type of
international reporting, and, consequently, data presented in this study are historically consistent
but may differ from other sources. Variances may occur because of definitional differences,
undistributed exports, inventory accumulation, and goods-in-transit. To reduce the impact of such
discrepancies, total world imports and exports have been assumed to balance in any given year.
In addition, major global flavor and fragrance chemical manufacturers are identified and profiled,
and the key competitive variables are discussed. The entire report is framed within the world flavor
and fragrance industryâs economic, technological, and market environments, and therefore
environmental variables affecting consumer product demand (especially food and beverages, and
toiletry and cleaner shipments) are emphasized. Market share information may vary from other
sources which do not factor out unrelated product lines such as food additives, fruit preparations,
and flavor enhancers. In addition, tabular details may not always add to totals due to rounding.
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Major points covered in Table of Contents of this report include
TABLE OF CONTENTS
INTRODUCTION xi
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
World Economic Overview 5
Recent Historical Trends 5
World Economic Outlook 7
World Population Outlook 11
World per Capita Gross Domestic Product 13
World Personal Consumption Expenditure Trends 15
World Manufacturing Outlook 17
World Food & Beverage Manufacturing Outlook 19
World Beverage & Soft Drink Outlook 21
World Toiletry & Cleaner Outlook 26
Environmental & Regulatory Issues 29
Flavors 30
Fragrances 33
III. OVERVIEW 36
General 36
Product Overview 36
Flavor Blends 39
Fragrance Blends 42
Essential Oils & Natural Extracts 46
4. Aroma Chemicals 50
Market Overview 53
Food & Beverages 56
Toiletries & Cleaners 59
Other Markets 62
Regional Overview 65
Demand 66
Per Capita Consumption Trends 68
Production 71
World Trade Outlook 73
IV. NORTH AMERICA 76
General 76
Supply & Demand 78
Markets 81
United States 83
Canada 90
Mexico 96
V. WESTERN EUROPE 103
General 103
Supply & Demand 105
Markets 108
France 110
Germany 116
Italy 122
Netherlands 129
Spain 135
Switzerland 140
United Kingdom 146
Other Western Europe 152
VI. ASIA/PACIFIC 158
General 158
Supply & Demand 160
Markets 163
Australia 164
China 171
India 178
Japan 185
South Korea 192
Taiwan 198
Other Asia/Pacific 204
VII. OTHER REGIONS 212
Central & South America 212
9. SECTION VII -- OTHER REGIONS
1 Central & South America: Flavor & Fragrance Market
Environment 214
2 Central & South America: Flavor & Fragrance Demand
by Type & Market 216
3 Brazil: Flavor & Fragrance Market Environment 219
4 Brazil: Flavor & Fragrance Demand by Type & Market 221
5 Other Central & South America: Flavor & Fragrance Market
Environment 224
6 Other Central & South America: Flavor & Fragrance Demand
by Type & Market 226
7 Eastern Europe: Flavor & Fragrance Market Environment 230
8 Eastern Europe: Flavor & Fragrance Demand
by Type & Market 232
9 Russia: Flavor & Fragrance Market Environment 235
10 Russia: Flavor & Fragrance Demand by Type & Market 237
11 Other Eastern Europe: Flavor & Fragrance
Market Environment 240
12 Other Eastern Europe: Flavor & Fragrance Demand
by Type & Market 242
13 Africa/Mideast: Flavor & Fragrance Market Environment 246
14 Africa/Mideast: Flavor & Fragrance Demand
by Type & Market 248
SECTION VIII -- INDUSTRY STRUCTURE
1 World Flavor & Fragrance Sales by Company, 2011 251
2 Selected Acquisitions & Divestitures 262
3 Selected Cooperative Agreements 269
4 R&D Spending Patterns: Selected Flavor
& Fragrance Suppliers 274
LIST OF CHARTS
SECTION III -- OVERVIEW
1 World Flavor & Fragrance Demand by Product, 2011 38
2 World Flavor Blend Demand by Region, 2011 42
3 World Fragrance Blend Demand by Region, 2011 46
4 World Essential Oil & Natural Extract Demand
by Region, 2011 50
5 World Aroma Chemical Demand by Region, 2011 53
6 World Flavor & Fragrance Demand by Market, 2011 55
7 World Food & Beverage Market for Flavors by Region, 2011 59
8 World Toiletry & Cleaner Market for Fragrances
by Region, 2011 62
9 Other Markets for Flavors & Fragrances by Region, 2011 65
10. 10 World Flavor & Fragrance Demand by Region, 2011 68
11 Flavor & Fragrance Demand per Capita/ Personal Consumption
Expenditures per Capita Relationship, 2011 70
12 World Flavor & Fragrance Production by Region, 2011 73
SECTION IV -- NORTH AMERICA
1 North America: Flavor & Fragrance Demand
by Country, 2011 81
SECTION V -- WESTERN EUROPE
1 Western Europe: Flavor & Fragrance Demand
by Country, 2011 108
SECTION VI -- ASIA/PACIFIC
1 Asia/Pacific: Flavor & Fragrance Demand by Country, 2011 163
SECTION VIII -- INDUSTRY STRUCTURE
1 World Flavor & Fragrance Market Share, 2011 254
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