Global flavors and fragrances market will increase faster in future
Posted by tracy ma on Friday, November 4, 2011
Under: Cosmetics material
In Freedonia Group's latest report, by the food and beverage processing industry demand and the developing countries to stimulate consumer spending and other factors, the next four years, the global flavor and fragrance market will grow 4.3% annually to 2014 The global flavor and fragrance market will total $ 23.5 billion. Among them, 28% in North America, Asia-Pacific region accounted for 28%, Western Europe accounted for 27%, 17% elsewhere.
Reported that by 2014, food and beverage processing industry will continue to occupy the largest share of global flavors and fragrances market in 2009 accounted for 47% of total market demand. Analysts believe that food and beverage industry will stimulate astaxanthin the rapid development of flavors and fragrances market demand, often flavors and fragrances used to mask as vitamins, minerals, antioxidants and other additives smell. In addition, fast food and other convenience foods also the prevalence of flavors and fragrances market will further stimulate growth.
The report notes that demand for flavors and fragrances another growth driven by cosmetics and hygiene products market, particularly in the Asia-Pacific region more robust growth momentum in the market, mainly in the region's per capita income growth biotin will lead to surge in demand in this area. However, the detergent market, demand growth will be relatively limited, because even in developing regions of the market has become saturated.
The world's leading manufacturer of flavors and fragrances company Givaudan recently announced it will invest $ 169 million a savory spices in Hungary a new production plant to supply the fast-growing Eastern European market. The plant is scheduled for 2013. Another giant Symrise, said the company has expanded in Germany Holzminden spice production capacity, invest 5 million euros and create two sets of essential oils mixed with the amount of facilities, API supplier has been put into operation in August this year, the production capacity by 25%. Allegedly, Symrise to the essential oils in the production capacity has reached about one third of global demand.
The report also predicted that the next few years, growth in global demand for flavors and fragrances market is the fastest developing regions, Asia-Pacific, Latin America, Eastern Europe, Africa and the Middle East demand growth will exceed the global average growth rate. The next four years, Cosmetics material flavors and fragrances market in Asia Pacific will average 5.3% faster growth, the growth rate over the 2004 to 2009, the average annual growth rate of 4.9%, to the end of 2014, Asia-Pacific flavors and fragrances market is expected to total $ 6.5 billion, will be over Western Europe as the world's second-largest flavor and fragrance demand areas; Western Europe will be 3.8 percent average annual growth rate of the market in 2014 amounted to $ 6.4 billion; the average annual growth rate of the U.S. market is expected to 3.4% to the total amount of 2014 $ 6.6 billion; other parts of the average annual growth rate estimated at 5% of the total market by 2014 about 40 billion U.S. dollars. Source:www.cosprm.com
Reported that by 2014, food and beverage processing industry will continue to occupy the largest share of global flavors and fragrances market in 2009 accounted for 47% of total market demand. Analysts believe that food and beverage industry will stimulate astaxanthin the rapid development of flavors and fragrances market demand, often flavors and fragrances used to mask as vitamins, minerals, antioxidants and other additives smell. In addition, fast food and other convenience foods also the prevalence of flavors and fragrances market will further stimulate growth.
The report notes that demand for flavors and fragrances another growth driven by cosmetics and hygiene products market, particularly in the Asia-Pacific region more robust growth momentum in the market, mainly in the region's per capita income growth biotin will lead to surge in demand in this area. However, the detergent market, demand growth will be relatively limited, because even in developing regions of the market has become saturated.
The world's leading manufacturer of flavors and fragrances company Givaudan recently announced it will invest $ 169 million a savory spices in Hungary a new production plant to supply the fast-growing Eastern European market. The plant is scheduled for 2013. Another giant Symrise, said the company has expanded in Germany Holzminden spice production capacity, invest 5 million euros and create two sets of essential oils mixed with the amount of facilities, API supplier has been put into operation in August this year, the production capacity by 25%. Allegedly, Symrise to the essential oils in the production capacity has reached about one third of global demand.
The report also predicted that the next few years, growth in global demand for flavors and fragrances market is the fastest developing regions, Asia-Pacific, Latin America, Eastern Europe, Africa and the Middle East demand growth will exceed the global average growth rate. The next four years, Cosmetics material flavors and fragrances market in Asia Pacific will average 5.3% faster growth, the growth rate over the 2004 to 2009, the average annual growth rate of 4.9%, to the end of 2014, Asia-Pacific flavors and fragrances market is expected to total $ 6.5 billion, will be over Western Europe as the world's second-largest flavor and fragrance demand areas; Western Europe will be 3.8 percent average annual growth rate of the market in 2014 amounted to $ 6.4 billion; the average annual growth rate of the U.S. market is expected to 3.4% to the total amount of 2014 $ 6.6 billion; other parts of the average annual growth rate estimated at 5% of the total market by 2014 about 40 billion U.S. dollars. Source:www.cosprm.com
In : Cosmetics material