North America Flavors & Fragrances Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | High |
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*Disclaimer: Major Players sorted in no particular order |
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North America Flavors & Fragrances Market Analysis
The North American flavor and fragrance market is anticipated to register a CAGR of 4.5% in the upcoming five years.
- The growing demand for processed foods with new and exotic flavors drives the market. Players in the industry are bringing in various innovative flavors to attract a wider consumer base. Clean-label, free-from, and GMO-free claims have always been popular in the region, where the food industry is booming with innovations. Now that flavors and extracts are included in the clean-label trend, natural herbs and spices are gaining enormous popularity.
- 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.
- With the increasing popularity of Asian recipes in the region, flavors often used in Asian recipes are gaining importance in the market for their novel taste. Moreover, consumers are willing to taste and explore new tastes resulting in increasing demand for flavors that are extensively used in various recipes such as curries, sushi, and other traditional recipes.
North America Flavors & Fragrances 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 to vegan products. Moreover, the rising vegan population in the region remains the primary factor boosting the market studied.
- Underlying concerns about animal welfare majorly influence consumers to switch to a proclaimed healthier diet, as does the longing for people to manage their weight. Moreover, natural flavors are quickly replacing artificial flavors on the market because they are less likely to cause cancer than substances like benzophenone, ethyl acrylate, pyridine, and styrene.
- Consumers are also looking for labels that are easier to read and have fewer ingredients, which they interpret as a sign that the product is better for them. This scenario welcomes progressive food product launches, eventually uplifting the demand for cruelty-free natural food colorants, preservatives, and flavors.
United States Hold the Major Share in the Market
- The flavor and fragrance market in the United States is a significant market as the consumers in the country are open to trying new food products, which shows consumers' affinity for ethnic flavors and dishes. The Asian and Hispanic populations are rising in the country, which has led to the emergence of ethnic new tastes 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.
- For instance, Sensient Technologies, a US company, offers an 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.
- Moreover, the flavoring industry extensively uses imports of spices such as turmeric, cumin, cardamom, and other spices. Hence, flavors and fragrances included in ethnic recipes have an immense potential to grow in North America.
North America Flavors & Fragrances Industry Overview
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 SA, International Flavors & Fragrances, Firmenich SA, Symrise AG, and Archer-Daniels-Midland Company. Product innovations are the major strategy adopted by the players operating in the market to occupy a major market share.
North America Flavors & Fragrances Market Leaders
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Firmenich SA
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International Flavors & Fragrances
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Archer-Daniels-Midland Company
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Symrise AG
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Givaudan SA
*Disclaimer: Major Players sorted in no particular order
North America Flavors & Fragrances Market News
- December 2021: Symrise AG announced that it signed a purchase agreement to acquire Giraffe Foods Inc., a Canada-based producer of customized sauces, dips, dressings, syrups, and beverage concentrates for B2B customers, in the home meal replacement, food service, and retail markets. With this transaction, Symrise may take a major step forward in the value chain, providing a wider variety of advanced taste solutions to a larger customer base in North America and Mexico.
- July 2021: IFF announced the launch of GUARDIAN Chelox 30C in the North American region. Developed by IFF, GUARDIAN Chelox 30C is a cost-effective, natural flavor with multifunctional properties, including antioxidant, texturizing, and moisture retention properties for mayonnaise and mayonnaise-based dressings.
- June 2021: Kerry Group expanded its production capacity in Mexico. The new plant would significantly boost the company's capabilities in the region and help customers deliver more local and sustainable flavor solutions. The facility will serve Mexico, Central America, the Caribbean, and the Andean region.
North America Flavors & Fragrances Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Synthetic
- 5.1.2 Natural
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5.2 Application
- 5.2.1 Food
- 5.2.1.1 Savory and Snacks
- 5.2.1.2 Dairy Products
- 5.2.1.3 Bakery
- 5.2.1.4 Confectionery
- 5.2.1.5 Meat
- 5.2.1.6 Other Food Types
- 5.2.2 Beverage
- 5.2.3 Beauty and Personal Care
- 5.2.4 Other Applications
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5.3 Geography
- 5.3.1 United States
- 5.3.2 Canada
- 5.3.3 Mexico
- 5.3.4 Rest of North America
6. COMPETITIVE LANDSCAPE
- 6.1 Strategies adopted by Key Players
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Givaudan
- 6.3.2 Firmenich SA
- 6.3.3 International Flavors & Fragrances
- 6.3.4 Symrise AG
- 6.3.5 The Archer Daniels Midland Company
- 6.3.6 Sensient Technologies
- 6.3.7 MANE Group
- 6.3.8 Takasago International Corporation
- 6.3.9 Kerry Group
- 6.3.10 Koninklijke DSM NV
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ABOUT US
North America Flavors & Fragrances Industry Segmentation
Flavors and fragrances create scents and tastes in a broad range of consumer products, including prepared foods, personal care products, household products, fine fragrances, cosmetics, and beverages.
The North American flavor and fragrance market is segmented by type into natural and synthetic. Based on the application, the market is segmented into food, beverages, beauty and personal care, and other applications. The report offers an analysis of major economies in the region, namely, the United States, Canada, Mexico, and the Rest of North America.
The market sizing has been done in value terms in USD for all the abovementioned segments.
| Type | Synthetic | |
| Natural | ||
| Application | Food | Savory and Snacks |
| Dairy Products | ||
| Bakery | ||
| Confectionery | ||
| Meat | ||
| Other Food Types | ||
| Application | Beverage | |
| Beauty and Personal Care | ||
| Other Applications | ||
| Geography | United States | |
| Canada | ||
| Mexico | ||
| Rest of North America |
North America Flavors & Fragrances Market Research FAQs
What is the current North America Flavors & Fragrances Market size?
The North America Flavors & Fragrances Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in North America Flavors & Fragrances Market?
Firmenich SA, International Flavors & Fragrances, Archer-Daniels-Midland Company, Symrise AG and Givaudan SA are the major companies operating in the North America Flavors & Fragrances Market.
What years does this North America Flavors & Fragrances Market cover?
The report covers the North America Flavors & Fragrances Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Flavors & Fragrances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Flavors & Fragrances Industry Report
Statistics for the 2024 North America Flavors & Fragrances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Flavors & Fragrances analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
