Natural Flavuors And Fragrances Market By Product Type (Natural Flavors, Natural Fragrances), Application (Food and Beverages, Cosmetics and Toiletries, Aromatherapy, Household Products), Source (Plants, Animals, Microorganisms, Minerals), & Region for 2024-2031
Report ID: 19278|No. of Pages: 202
Natural Flavuors And Fragrances Market By Product Type (Natural Flavors, Natural Fragrances), Application (Food and Beverages, Cosmetics and Toiletries, Aromatherapy, Household Products), Source (Plants, Animals, Microorganisms, Minerals), & Region for 2024-2031
Natural Flavours And Fragrances Market Valuation – 2024-2031
Rising consumer demand for clean-label products has been identified as a key driver affecting the market size of natural flavors and fragrances, as more individuals are seeking products made with natural and sustainable ingredients. According to the analyst from Verified Market Research, the Natural Flavours And Fragrances Market is estimated to reach a valuation of USD 17.16 Billion over the forecast subjugating around USD 10.38 Billion valued in 2024.
The rapid expansion of the Natural Flavours And Fragrances Market is primarily driven by growing consumer preference for organic and chemical-free products, which has been projected to significantly impact the market’s CAGR over the forecast period. It enables the market to grow at a CAGR of 6.49% from 2024 to 2031.
Natural Flavours And Fragrances Market: Definition/ Overview
Natural Flavors and fragrances are substances extracted from natural sources such as plants, fruits, and spices, without the use of synthetic chemicals. These ingredients are widely utilized in various industries, including food and beverages, cosmetics, and personal care, where the demand for natural and eco-friendly products has been steadily increasing. They are created through processes such as extraction, distillation, and fermentation, ensuring that the end products meet the rising consumer demand for clean-label and environmentally sustainable goods.
Increasing consumer awareness regarding health and wellness has been identified as a major growth factor in the Natural Flavours And Fragrances Market. Rising regulatory support for the use of natural ingredients, alongside growing trends in organic and sustainable products, is projected to further drive market expansion. Moreover, the preference for eco-conscious alternatives has contributed to the rising adoption of natural Flavors and fragrances across multiple sectors.
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What is the Key Driver Contributing to the Growing Demand for Natural Flavors and Fragrances in the Market?
The increasing consumer shift toward clean-label products and the rising awareness of health and wellness have primarily driven the growing demand for natural flavors and fragrances. Products made with natural ingredients have been preferred over synthetic alternatives due to concerns surrounding artificial chemicals and additives. According to a report by the Organic Trade Association (OTA), organic food sales in the United States reached USD 50.1 Billion in 2019, up 4.6% from the previous year.
This trend has been particularly evident in the food and beverage, cosmetics, and personal care sectors, where consumer interest in organic, sustainable, and non-toxic products has been rising. As a result, companies have been focusing on expanding their portfolios to include more natural and organic flavors and fragrances, which is anticipated to drive the market in the coming years further.
What are the Key Restraints Limiting the Growth of the Natural Flavours And Fragrances Market?
The growth of the Natural Flavours And Fragrances Market has been restrained by the high costs associated with the extraction and production processes of natural ingredients. Unlike synthetic alternatives, natural flavors and fragrances require complex sourcing and manufacturing procedures, which involve significant time and financial investment.
Additionally, the availability of raw materials has been subject to fluctuations due to environmental factors such as climate change, impacting both cost and supply chain stability. These challenges have been noted as limiting factors in the wider adoption of natural products, particularly for cost-sensitive manufacturers and consumers.
Category-Wise Acumens
How has the Application of Natural Flavors in the Food and Beverages Sector Influenced Market Growth?
According to VMR Analyst, the application of natural flavors in the food and beverages sector has been projected to dominate the Natural Flavours And Fragrances Market due to the rising consumer demand for clean-label and health-conscious products. Natural flavors have been increasingly preferred by manufacturers seeking to replace artificial additives and chemicals in their products, driven by regulatory pressures and shifting consumer preferences.
The growing trend toward organic and plant-based diets has further contributed to the rising adoption of natural flavors, particularly in sectors such as snacks, beverages, and dairy alternatives. This segment is anticipated to witness continued growth as companies strive to meet evolving consumer expectations and regulatory standards.
How has the Plant-based Source Segment Contributed to the Growth of the Natural Flavours And Fragrances Market?
According to VMR Analyst, the plant-based source segment has been identified as a rapidly growing sub-segment in the Natural Flavours And Fragrances Market, driven by the increasing consumer inclination toward sustainability and plant-derived ingredients. Plant sources such as herbs, fruits, and spices have been extensively utilized due to their rich sensory profiles and environmentally friendly extraction processes.
This trend has been further supported by the rising demand for vegan and cruelty-free products across various industries, including food and beverages, cosmetics, and personal care. The plant-based segment is expected to continue its strong growth trajectory as manufacturers capitalize on the growing appeal of botanical ingredients and the shift toward natural, eco-conscious alternatives.
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Country/Region-wise Acumens
What Factors have Contributed to North America’s Dominance in the Natural Flavours And Fragrances Market?
According to VMR Analyst, North America’s dominance in the Natural Flavours And Fragrances Market has been primarily driven by the rising demand for clean-label products and the strong presence of major industry players in the region. The growing awareness of health and wellness among consumers has further fueled the adoption of natural ingredients across the food and beverage, cosmetics, and personal care sectors.
Additionally, regulatory support promoting the use of natural and organic components has reinforced market growth. The U.S. and Canada have seen significant investments in sustainable product development, which has been projected to maintain the region’s leadership in the market over the coming years.
How has the Asia Pacific Region Emerged as a Rapidly Growing Market for Natural Flavors and Fragrances?
According to VMR Analyst, the Asia Pacific region has emerged as a rapidly growing market for natural flavors and fragrances due to the increasing consumer inclination toward natural and organic products, particularly in countries such as China, India, and Japan. Rising disposable incomes and growing awareness of the benefits of natural ingredients have contributed to the expansion of the market in this region. According to a study by FMCG Gurus, 74% of consumers across the Asia Pacific region expressed that they find groceries that are 100% natural important.
Additionally, the burgeoning food and beverage, cosmetics, and personal care industries in the Asia Pacific have been projected to drive further demand for natural flavors and fragrances. Strong government initiatives supporting sustainable practices and the use of natural products have also played a significant role in accelerating market growth across the region.
Competitive Landscape
The Natural Flavours And Fragrances Market’s competitive landscape is characterized by a varied range of companies, including technology developers, plant operators, and service providers, all striving for market share in an increasingly dynamic and growing industry.
Some of the prominent players operating in the Natural Flavours And Fragrances Market include:
- BASF SE
- Firmenich
- Givaudan SA
- International Flavors & Fragrances Inc. (IFF)
- Kerry Group
- Mane SA
- Robertet SA
- Sensient Technologies Corporation
- Symrise AG
- Takasago International Corporation
Latest Developments
- In October 2022, Sensient Technologies Corporation opened a new customer and innovation lab in Somerset, New Jersey. The 21,000-square-foot facility was established to foster collaborative research and development, with a focus on beauty and personal care, as well as savory flavors and extracts. The lab’s teams have been tasked with driving innovation and exploring various applications across these key market segments.
- In March 2023, Robertet Group completed the acquisition of Aroma Esencial, a company based in Girona, Spain, that specializes in fractionation and molecular distillation. Aroma Esencial is known for offering advanced industrial tools and essential products tailored to the fine fragrance industry.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~6.49% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
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| Key Players | BASF SE, Firmenich, Givaudan SA, International Flavors & Fragrances, Inc. (IFF), Kerry Group, Mane SA, Robertet SA, Sensient Technologies Corporation, Symrise AG, Takasago International Corporation |
| Customization | Report customization along with purchase available upon request |
Natural Flavours And Fragrances Market, By Category
Product Type:
- Natural Flavors
- Natural Fragrances
Application:
- Food and Beverages
- Cosmetics and Toiletries
- Aromatherapy
- Household Products
Source:
- Plants
- Animals
- Microorganisms
- Minerals
Region:
- North America
- Europe
- Asia-Pacific
- South America
Middle East & Africa
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Customization of the Report
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Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. Natural Flavours And Fragrances Market, By Product Type
• Natural Flavors
• Natural Fragrances
5. Natural Flavours And Fragrances Market, By Application
• Food and Beverages
• Cosmetics and Toiletries
• Aromatherapy
• Household Products
6. Natural Flavours And Fragrances Market, By Source
• Plants
• Animals
• Microorganisms
• Minerals
7. Regional Analysis
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE
8. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
9. Competitive Landscape
• Key Players
• Market Share Analysis
10. Company Profiles
• Firmenich
• International Flavors & Fragrances Inc. (IFF)
• Symrise AG
• Givaudan SA
• Mane SA
• Takasago International Corporation
• Robertet SA
• Sensient Technologies Corporation
• Kerry Group
• BASF SE
11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
12. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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