North America Flavor and Fragrance Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The North American Flavor and Fragrance Market are Segmented by Type into Natural and Synthetic; by Application into Food, Beverages, Beauty and Personal Care, and Others; and by Country.

Market Snapshot

North America Flavor and Fragrance Market - Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 4.5 %

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Market Overview

The North American flavor and fragrance market is anticipated to register a CAGR of 4.5% during the forecasted period 2020 - 2025.

· The market is driven by the growing demand for processed foods with new and exotic flavors. Players in the industry are bringing in various innovative flavors in order to attract a wider consumer base.

· Natural flavors and fragrances are trending in the market with the growing health-conscious consumers. However, synthetic flavors and fragrances hold the major share owing to their cheaper cost.

· The beverage segment is the major application area of flavors attributed to the constant innovations and developments acknowledging the market. Food manufacturers in the region are increasingly introducing beverages with different flavors to attract consumers.

Scope of the report

The North American flavor and fragrance market is segmented by type into natural and synthetic. The market is segmented by application into food, beverages, beauty and personal care, and others. By country, the market is segmented into the United States, Canada, Mexico, and the Rest of North America.

By Type
Synthetic
Natural
By Application
Food
Savory and Snacks
Dairy Products
Bakery
Confectionery
Meat
Others
Beverage
Beauty and Personal Care
Others
By Country
United States
Canada
Mexico
Rest of North America

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Key Market Trends

Growing Demand for Plant Derived Ingredients

The unceasing innovation and developments in the flavor market have been tapping the emerging food and beverage industries. Plant-derived vegan flavors in the food ingredients market have emerged as a boon for businesses dedicating operations for vegan products. Moreover, the rising vegan population in the region remains the primary factor boosting the market studied. Underlying concerns about animal welfare majorly influences consumers to switch to a proclaimed healthier diet, as does the longing for people to manage their weight. This scenario welcomes progressive food product launches, eventually uplifting the demand for cruelty-free natural food colorants, preservatives, and flavors.

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United States Hold the Major Share in the Market

The flavors and fragrances market in the United States is a major market as the consumers in the country are open to trying new food products, which shows the affinity of US consumers for ethnic flavors and dishes. The Asian and Hispanic populations are rising in the country, which has led to the emergence of ethnic new flavors and flavor profiles. Such factors provide a great opportunity for the flavor manufacturers to launch natural ethnic flavors, such as fish sauce, doenjang, garlic chives, ginger, and lapsang souchong to boost their growth opportunities in the country. For instance, Sensient Technologies, an American company, is providing Asian Flavors Kit or World of Chili Peppers under its Savory Flavors segment. There is also growth for exotic fragrances from the personal care segment. Players in the market are bringing various product offerings with new innovative fragrances in the market.

North America Flavor and Fragrances Market - 2

Competitive Landscape

The flavor and fragrances market is consolidated, with few players holding a major share in the market. The major players operating in the market are Givaudan, IFF-Frutarom, Firmenich, Symrise, Takasago, and Sensient Technologies, etc. Product innovations are the major strategy adopted by the players operating in the market, in order to occupy a major market share.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Research Phases

    2. 1.2 Study Deliverables

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Synthetic

      2. 5.1.2 Natural

    2. 5.2 By Application

      1. 5.2.1 Food

        1. 5.2.1.1 Savory and Snacks

        2. 5.2.1.2 Dairy Products

        3. 5.2.1.3 Bakery

        4. 5.2.1.4 Confectionery

        5. 5.2.1.5 Meat

        6. 5.2.1.6 Others

      2. 5.2.2 Beverage

      3. 5.2.3 Beauty and Personal Care

      4. 5.2.4 Others

    3. 5.3 By Country

      1. 5.3.1 United States

      2. 5.3.2 Canada

      3. 5.3.3 Mexico

      4. 5.3.4 Rest of North America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Strategies adopted by Key Players

    2. 6.2 Most Active Companies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Givaudan

      2. 6.4.2 Firmenich SA

      3. 6.4.3 International Flavors & Fragrances

      4. 6.4.4 Symrise AG

      5. 6.4.5 The Archer Daniels Midland Company

      6. 6.4.6 Sensient Technologies

      7. 6.4.7 MANE Group

      8. 6.4.8 Takasago International Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The North America Flavors & Fragrances Market market is studied from 2016 - 2026.

The North America Flavors & Fragrances Market is growing at a CAGR of 4.5% over the next 5 years.

Givaudan, Firmenich SA, International Flavors & Fragrances, Symrise are the major companies operating in North America Flavors & Fragrances Market.

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