1 May 2013 ... IAL Consultants is pleased to announce the recent publication of the eighth
edition of its report on the global markets for Flavours & Fragrances.
IAL Consultants CP House, 97 – 107 Uxbridge Road Ealing, London W5 5TL UK Tel: + 44 20 8832 7780 Fax: + 44 20 8566 4931
PRESS RELEASE MAY 2013
AN OVERVIEW OF THE GLOBAL FLAVOURS & TH FRAGRANCES MARKET, 8 EDITION IAL Consultants is pleased to announce the recent publication of the eighth edition of its report on the global markets for Flavours & Fragrances This new study updates and expands upon the information included in our previous study published in 2011. The information contained within this report is based upon an extensive programme of interviews throughout the industry. The report contains market value data by end-use application, with 2012 as the base year and market forecasts provided to 2017. The report is presented in four volumes as follows: Volume 1 – Europe, Middle East & Africa (EMEA) Western Europe Eastern Europe Middle East & Africa Volume 2 – Americas North America South America Volume 3 – Asia-Pacific Volume 4 – Global Market Summary* *It should be noted that Volume 4, the Global Summary, is only available to purchasers of the complete study.
The global flavours and fragrances market continues to show promising rates of growth despite the recent economic turmoil around the world. The total global market reached US$16.6 billion in 2012, and is expected to grow at an average annual rate of 4.2% p.a. to reach some US$20.3 billion in 2017. Of the total world market, flavours account for approximately 52% and fragrances for the remaining 48%. Of the main global regions, the combined flavours and fragrances market is largest in North America, followed by Asia-Pacific and Western Europe. However, according to IAL’s projections the Asia-Pacific region will have overtaken North America by 2017 due to the much faster growth anticipated for this region.
Total Global Consumption of Flavours & Fragrances by Region, 2012-2017 (US$ Millions) Country*
2012 (US$ M)
2017 (US$ M)
2012-2017 (% Growth p.a.)
Western Europe Eastern Europe North America South America Asia-Pacific Middle East & Africa
3,584.6 780.1 5,088.3 1,240.6 4,783.4 1,074.6
3,804.4 909.2 5,816.0 1,800.1 6,645.9 1,369.7
1.2 3.1 2.7 7.7 6.8 5.0
Global Total
16,551.6
20,345.2
4.2
Source: IAL Consultants *Countries covered
Western Europe: Belgium, France, Germany, Italy, Netherlands, Nordic, Spain, UK, Others Eastern Europe: Russia, Ukraine, Poland, Czech Republic, Hungary, Others Africa/Middle East: South Africa, Middle East, North Africa, Sub-Saharan Africa, Turkey North America: USA, Canada, Mexico South America: Argentina, Brazil, Chile, Colombia, Others Asia-Pacific: Japan, China, India, SE Asia, Australia/New Zealand, South Korea, Others
The dynamics of the market are gradually changing; as incomes are rising in the world’s emerging markets, so too is consumer spending. Members of the new, and still emerging, middle classes are for the first time able to afford to buy packaging food and beverages and personal care items. This change means that many of the top flavour and fragrance companies are placing renewed emphasis on the emerging markets of Asia-Pacific, South America and the Middle East/Africa. Urbanisation and changing lifestyles are also boosting market growth in developing regions.
The beverages sector was the largest global end-use market for flavours in 2012 with a share of 34%, followed by the dairy industry at 13%. The highest annual growth rates, for a single market, are forecast in the beverages sector at 5.2% per annum, followed by snacks at 4.3% p.a., and dairy and ‘others’ (tobacco, animal feed, pet food etc.), both at 4.1% p.a.
The soap and detergents industry is the largest user of fragrances in the global market at 32.3% share, followed by the cosmetics and toiletries sector at 26.9% and fine fragrances at 18.4%. The fastest annual growth to 2017 is forecast for the cosmetics and toiletries sector at 4.9% p.a., followed by the soaps and detergents segment at 4.5% p.a.
Givaudan, Firmenich, IFF and Symrise continue to occupy the top four positions in the global flavours and fragrances market. Their combined sales of compound flavours and fragrances in 2012 represented over 60% of the global market.
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This four-volume report includes flavour and fragrance consumption (value) by country and by end-use application, supported with market trends and drivers, profiles of the leading global suppliers, and a summary of the current supply situation. Directories of flavour and fragrance manufacturers by country are also included in each regional volume. The report is available for the following prices: Volume Volume 1 - EMEA Volume 2 - Americas Volume 3 - Asia-Pacific Volume 4 - Global Summary (only available to purchasers of the complete report) THE COMPLETE REPORT
For more details, please contact: Mrs Cathy Galbraith IAL Consultants CP House, 97-107 Uxbridge Road Ealing London W5 5TL Telephone: +44 (0) 20 88 32 77 80 Fax: +44 (0) 20 85 66 49 31 Email:
[email protected] Or visit our website: www.ialconsultants.com
Price €2,000 €1,500 €1,500 €3,750
