The report “Flavors & Fragrances MarketThe size of the flavors and fragrances market is expected to be USD 29.0 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 5.1% between 2021 and 2026. The market is segmented by Ingredients (Natural, Synthetic), End Use (Beverage, Savory & Snacks, Bakery, Dairy Products, Confectionery, Consumer Products, Fine Fragrances), and Region (Asia Pacific, North America, Europe). Compounds called flavors and fragrances are employed in the food and beverage, consumer products, pharmaceutical, and cosmetic industries to improve the qualities of end-use products. Many different things, such as bread, snacks, candies, meat, poultry, fish, and more, have flavors.
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• 237 Market data Tables
• 56 Figures
• 258 Pages and in-depth TOC on “Flavors & Fragrances Market – Global Forecast to 2026″
Some of the prominent key players are:
· Givaudan (Switzerland)
· Firmenich SA (Switzerland)
· International Flavors & Fragrances (IFF) (US)
· Symrise AG (Germany)
· Takasago (Japan)
· The Archer Daniels Midland Company (ADM) (US)
Opportunities: Digitalization of the retail industry
The advent of new apps that make it easier for customers to select their chosen products and online food and consumer product purchasing are two of the newest trends driving the tastes and scent market. Due to its ease and variety, online shopping is becoming more and more popular. Nearly 25% of the population purchased food and groceries online in 2018, according to Eurostat. Retail grocery shopping is becoming one of the platforms that businesses use to promote and sell their products as a result of the increasing use of smartphones and the Internet.
