Global Flavor and Fragrance Market Report 2014 - Worldwide Market Size, Share, Trend, Growth, Analysis and Research Report

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The flavors and fragrances (F&F) market is part of a larger market which supplies a variety of ingredients and components that consumer product manufacturers utilize in their products. The broader market includes large multinational companies and smaller regional and local participants which supply products such as seasonings, texturizers, spices, enzymes, fortified products and cosmetic ingredients. The companies in F&F market are targeting their activities towards highly populated and rapidly expanding regions of the world like Asia Pacific, Latin America, Middle East and Africa.

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North America constituted the largest market for flavors and fragrances followed by Asia-Pacific, Western Europe and South America. It is projected that Asia-Pacific will gradually overtake North America due to the much faster growth anticipated for this region.

The global flavors and fragrances market is growing on the back of incessantly increasing demand from emerging markets, rising preference of packaged foods and beverages and escalating cosmetics industry. Ameliorating global economic development and emerging middle class population are other major factors which are bolstering the respective market. Ongoing mergers and acquisitions, changing consumer drinking habits and demand for convenience and differentiation are the significant trends observed in the F&F market. However, there are many factors which hinder the growth of respective industry, some of which are high research and development cost, regulatory risks, significant barriers to entry and fluctuating raw material prices.

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