The global flavors and fragrances market size was valued at USD 27.50 billion in 2023 and is projected to grow from USD 28.72 billion in 2024 to USD 42.27 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period. The market is anticipated to grow during the projected period due to rapid development in the pharmaceuticals and cosmetics sector. Fortune Business Insights™ publishes this information in a report titled, "Flavors and Fragrances Market, 2025-2032".
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Segments:
Flavors Segment to Lead the Market Due to its Unique Properties
By type, the market is bifurcated into flavors and fragrances. The flavors segment is further categorized into natural and synthetic. The fragrances segment is also divided into natural and synthetic.
Food & Beverage Sub-Segment to Dominate the Market
Based on type (cross application), the market is segregated into flavors used in the food & beverage sector for beverages, bakery, confectionery, dairy, and others. These flavors are also used in pharmaceuticals and other sectors. The fragrance segment is further classified into fine fragrances, cosmetics & personal care, home & floor care, and others.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
List of Key Players Profiled in the Flavors and Fragrances Market Report: