North America Flavors and Fragrances Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

North America Flavors and Fragrances Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

  • December 2019 •
  • 88 pages •
  • Report ID: 5834423 •
  • Format: PDF
The North America flavors and fragrances market reached a value of US$ 4.3 Billion in 2018. Flavor and fragrance substances are strong-smelling organic compounds with characteristic, usually a pleasant odor. They are derived either from natural sources or synthesized chemically. They are used to enhance the taste and texture of foods and beverages and help in improving the appeal of other consumer goods. The flavors and fragrances products include fragrances and flavor blends, aroma chemicals, and essential oils. Flavors are majorly used in the foods, beverages, dairy and confectionery industries, whereas, fragrances are used for providing a pleasant smell in personal care, home care, and cosmetic products.

The North America flavors and fragrances market is currently being driven by several factors. The rising demand for flavoring ingredients in bakery and confectionary items, ice-creams and other desserts, smoothies, and energy drinks are strengthening the growth of the flavors and fragrances market in the food and beverage industry of the region. Furthermore, the addition of flavors at optimal concentrations improve the taste and texture of food. Various types of chemical aromatics, essential oils, and botanical extracts are used to enhance the flavor of food and beverages, thereby making them more appealing to consumers. Apart from this, the escalating demand for flavors and fragrances in pharmaceuticals, dietary supplements, nutraceuticals, and tobacco is also impelling the market growth. In addition to this, the introduction of new flavors and fragrances along with their natural or organic counterparts are also stimulating the growth of the industry in the region. Looking forward, the analyst expects the market to reach a value of US$ 5.7 Billion by 2024, registering a CAGR of 4.8% during 2019-2024.

Report Scope:
North America Flavors and Fragrances Market

Key Regions Analysed
United States
Canada

Market by Segment

Flavors Market
Market by Product Type
Natural-Identical
Artificial
Natural

Market by Form
Liquid
Dry

Market by Application
Beverages
Dairy and Frozen Desserts
Bakery and Confectionery Products
Savories and Snacks
Others

Fragrances Market
Market by Product Type
Cosmetics and Toiletries
Fine Fragrances
Household Cleaners and Air Fresheners
Soap and Detergents
Others

Market by Ingredients
Natural
Synthetic

Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Competitive Landscape
Competitive Structure
Key Player Profiles

Report Coverage:
Base Year Considered: 2018
Historical Data Coverage: 2013-2018
Market Forecast: 2019-2024
Currency: US$
Geography Covered: North America, United States and Canada

Segments Covered:
Flavors: Product Type, Form and Application.
Fragrances: Product Type and Ingredients.

Report Customization: Although the analyst has tried to cover everything in the North America flavors and fragrances market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.