Abstract
Flavors and fragrances from natural resources have attracted human imagination
and enriched the life and sensuality of man since the beginning of
civilization. With the growth of science through the ages and specially
industrialization in the past century, the use of flavors and fragrances
increased immensely in foods, beverages, cosmetics, medicines, and home and
personal care products, among others. After suffering a decline in 2009,
primarily due to global economic crisis, the global market of flavor and
fragrances recorded growth in 2010 in the wake of economic recovery. The
market is forecasted to continue to expand at a CAGR of 5.6% during 2011-2013.
The regions accounting for the majority revenue generation in the market
include Western Europe and North America. At the same time, the emerging
countries of Asia, which include China and India, are increasingly becoming
the important growth regions of the flavor and fragrance industry
Flavors and fragrances being used in a variety of consumer products, the
economic growth anywhere naturally propels the use of flavor and fragrance and
its market. With better education and scientific research people are
consciously consuming more flavors and fragrances in products for pleasure,
health, and other usages, thus driving the growth of flavor and fragrance
market. One conspicuous feature associated with flavor and fragrance industry
is the growth in marketing of fine ingredients which are used as raw material
in making flavoring and fragrance compounds. Their use in functional foods for
health benefits has also increased.
Smaller companies are consolidating with the aim to acquire higher technical
capabilities. Also, the chemical companies are diversifying into flavor and
fragrance sector, thus creating good opportunities for the growth of the
sector.
The market faces the challenge of barrier to the entry of small players into
global arena and new players into small and mid-sized segment of flavor and
fragrance industry. Uncertainties regarding the availability and about price
predictions of natural raw materials due to precarious and delicate ecological
conditions, natural calamities also remain a challenge.
The flavor and fragrance industry is highly fragmented with several large,
small, and regional players operating in the market. The top four companies,
which include Givaudan, IFF, Firmenich, and Symrise, account for the majority
revenue generation in the market.
The report provides an in-depth analysis of the global flavor and fragrances
market. The various drivers and the challenges faced by the market are
discussed in detail. The competitive aspect of the market is also highlighted
and the key players are profiled with their strategies for this market.
By combining SPSS Inc.'s data integration and analysis capabilities with our
relevant findings, we have predicted the future growth of the industry. We
employed various significant variables that have an impact on this industry
and created regression models with SPSS Base to determine the future direction
of the industry. Before deploying the regression model, the relationship
between several independent or predictor variables and the dependent variable
was analyzed using standard SPSS output, including charts, tables and tests.
Table of Contents
1. Industry Structure: Value Chain Analysis
2. Global Flavor and Fragrance Market
- Market Overview
- Market Value
3. Flavor and Fragrance - Market Segments
- 3.1. Global Flavor Market
- 3.1.1. Market Size
- 3.1.2. Market Characteristics
- 3.2. Global Fragrance Market
- 3.2.1. Market Size
- 3.2.2. Market Characteristics
- 3.3. Global Fine Ingredients Market
- 3.3.1. Market Size
- 3.3.2. Market Characteristics
4. End User Market
- 4.1. End User Applications of Flavors
- 4.2. End User Application of Fragrances
5. Geographic Analysis
6. Trends in the Flavor & Fragrance Industry
- 6.1. Global Market Trends
- 6.1.1. Smaller Acquisitions Are More Likely
- 6.1.2. Chemical Majors Diversifying into F&F Sector
- 6.2. Flavor Market Trends
- 6.3. Fragrance Market Trends
- 6.4. Fine Ingredients Market Trends
- 6.5. Growth Drivers
- 6.5.1. Growth in Global GDP
- 6.5.2. Growth in Cosmetics Market
- 6.5.3. Growth in Beverages Market
- 6.5.4. Product Innovation
- 6.6. Challenges
- 6.6.1. Raw Material - Uncertainties of Price and Availability
- 6.6.3. High Barriers to Entry
7. Competitive Scenario
- Competitive Overview
- Market Share
- Financial Comparison
8. Company Profiles
- 8.1. Givaudan SA
- Business Description
- Financial Overview
- Business Strategies
- Expanding Reach in Developing Markets
- Constant Research & Development
- 8.2. International Flavors & Fragrances Inc. (IFF)
- Business Description
- Financial Overview
- Business Strategies
- Growth Opportunities in Key Global Markets
- Strengthening Innovation Platform
- 8.3. Symrise AG
- Business Description
- Financial Overview
- Business Strategies
- Achieving Growth in New Markets
- Forming Strategic Alliances
- 8.4. Firmenich
- Business Description
- Financial Overview
- Business Strategies
- Customer Focused Innovation
- Achieving Sustainable Leadership
9. Market Outlook
- 9.2. Forecast Methodology
- 9.2.1. Dependent and Independent Variables
- 9.2.2. Correlation Analysis
- 9.2.3. Regression Analysis
List of Charts
- Flavor and Fragrance Industry - Supply Chain
- Global Flavor and Fragrance Market Revenues, 2001-2010
- Global Flavor and Fragrance Market by Segments, 2010
- Global Flavor Market Revenues, 2009-2010
- Global Fragrance Market Revenues, 2009-2010
- Global Fine Ingredients Market Revenues, 2009-2010
- Flavor and Fragrance Market Sales by Regions, 2010
- Development of GDP, 2009-2010
- Global Cosmetics Market Revenues, 2004-2011E
- Market Share of Leading Companies in the Flavor & Fragrance Market, 2010
- Average Organic Growth of Leading Flavor and Fragrance Companies, 2010
- Gross Margins of Leading Flavor and Fragrance Companies, 2010
- Relative Research and Development Comparison, 2010
- Givaudan's Revenue Share by Business Segments, 2010
- Givaudan's Revenues by Business Segments, 2006-2010
- IFF's Revenue Share by Business Segments, 2010
- IFF's Revenues by Business Segments, 2006-2010
- Symrise's Revenue Share by Business Segments, 2010
- Symrise's Revenues and Net Income, 2006-2010
- Firmenich's Sales Revenues, 2009-2011
- Global Flavor and Fragrance Market Forecast, 2009-2013F
List of Tables
- Selected Flavor and Fragrance Industry Deals, 2005-2011
- Dependent & Independent Variables (2004-2010)
- Correlation Matrix
- Model Summary - Coefficient of Determination
- Regression Coefficients Output
