Report Overview

The global flavours and fragrances market is expected to attain nearly USD 29.18 Billion in 2024. It is projected to grow further in the coming years, growing at CAGR of 4.60% in the forecast period of 2025-2034. By 2034, the industry is estimated to reach USD 45.75 Billion.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

  • There is a growing preference for fragrance across different product categories, including beauty, personal care, household items, and food and beverages, especially among the young population. Reportedly, in 2023, fragrance usage in the United States among Gen Z reached 83% in the United States. With Gen Z valuing personalised and unique products, they are choosing scents that resonate with their individual preferences, identities, and lifestyles.
  • The increasing health-consciousness among consumers is boosting the flavours and fragrances market revenue. Consumers are increasingly seeking wellness-oriented and natural food and beverages, surging the demand for floral and herbal flavours (chamomile, rose, mint, rosemary, lavender) associated with health benefits like improved digestion, stress relief, and enhanced mood.
  • The rising focus on sustainability is prompting key players to adopt environmentally friendly practices and sustainably and ethically source raw materials like spices, flowers, and essential oils for use in flavours and fragrances. They are also investing in sustainable production processes, lowering water usage, using renewable energy, and minimising waste while reducing the environmental impact of their packaging solutions.

Competitive Landscape

Key flavour and fragrance market players are actively investing in research activities to develop new and innovative flavours and fragrances that appeal to evolving customer preferences. Flavour and fragrance companies are also adopting technologies such as machine learning, artificial intelligence (AI), and big data analytics to better understand customer preferences, create more personalised products, and predict trends.

Key Industry Players

Givaudan

Givaudan, headquartered in Geneva, Switzerland, and founded in 1895, is a leader in fragrance and beauty and taste and well-being. The company develops innovative food experiences and beauty and well-being solutions to improve the experience of customers. It boasts 163 locations in 52 countries and more than 78 production sites.

International Flavors & Fragrances, Inc.

International Flavors & Fragrances, Inc., established in 1889 and headquartered in New York, United States, is a leading fragrance, flavour, food ingredients, and bioscience company. The company employs 21,000 individuals across 65 countries and has over 110 manufacturing facilities.

Symrise Group

Symrise Group, headquartered in Holzminden, Germany, and established in 2003, is a company that is engaged in developing, producing, and selling fragrances, food ingredients, and flavourings. The company offers nearly 35,000 products which are typically produced from natural raw materials such as onions, vanilla, citrus fruits, and fish, among others.

Mane Group

Mane Group, headquartered in Le Bar-sur-Loup, France, and established in 1871, is a prominent fragrance and flavour company. The company creates sustainable partnerships with local producers to support artisanal know-how and provide cutting-edge solutions for use in dairy, beverages, baked goods, confectionery products, and savoury items.

Other key players in the flavour and fragrance market are Firmenich SA, Takasago International Corporation, Sensient Technologies Corporation, and ADM, among others.

Flavours and Fragrances Market Report Snapshots

Flavours and Fragrances Market Size

Flavours and Fragrances Market Analysis

Flavours and Fragrances Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the global flavours and fragrances market attained a value of nearly USD 29.18 Billion.

The market is projected to grow at a CAGR of 4.60% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 45.75 Billion by 2034. 

The major drivers for the market include rising disposable incomes, increasing population, changing food preferences, and rising demand from the end-use sectors, like food and decoration sector.

The rapid innovations in the market act as a key trend aiding the market growth.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Europe accounting for the largest share in the market. 

Flavours are available in liquid and dry forms.

Flavours find wide applications in beverages, dairy and frozen desserts, savouries and snacks, bakery and confectionery products, among others. Fragrances find wide applications in soap and detergents, cosmetics and toiletries, fine fragrances, household cleaners and fresheners, among others.

The ingredients used in fragrances include synthetic and natural.

The major players in the market are Givaudan, Firmenich SA, International Flavors & Fragrances, Inc., Symrise Group, Takasago International Corporation, Mane Group, Sensient Technologies Corporation, and ADM, among others.

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