North America Flavors and Fragrances Market Size 2024-32

Name: North America Flavors and Fragrances Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032
Creator: IMARC Group
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Keywords: North America Flavors and Fragrances Market, North America Flavors and Fragrances Market Report

North America Flavors and Fragrances Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A1738

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Market Overview:

The North America flavors and fragrances market size reached US$ 10.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.3% during 2024-2032.

Report Attribute	Key Statistics
Base Year	2023
Forecast Years	2024-2032
Historical Years	2018-2023
Market Size in 2023	US$ 10.3 Billion
Market Forecast in 2032	US$ 13.9 Billion
Market Growth Rate 2024-2032	3.3%

Flavor and fragrance substances are strong-smelling organic compounds with characteristic, usually a pleasant odor. They are derived either from natural sources or synthesized chemically. They are used to enhance the taste and texture of foods and beverages and help in improving the appeal of other consumer goods. The flavors and fragrances products include fragrances and flavor blends, aroma chemicals, and essential oils. Flavors are majorly used in the foods, beverages, dairy and confectionery industries, whereas, fragrances are used for providing a pleasant smell in personal care, home care, and cosmetic products.

The North America flavors and fragrances market is currently being driven by several factors. The rising demand for flavoring ingredients in bakery and confectionary items, ice-creams and other desserts, smoothies, and energy drinks are strengthening the growth of the flavors and fragrances market in the food and beverage industry of the region. Furthermore, the addition of flavors at optimal concentrations improve the taste and texture of food. Various types of chemical aromatics, essential oils, and botanical extracts are used to enhance the flavor of food and beverages, thereby making them more appealing to consumers. Apart from this, the escalating demand for flavors and fragrances in pharmaceuticals, dietary supplements, nutraceuticals, and tobacco is also impelling the market growth. In addition to this, the introduction of new flavors and fragrances along with their natural or organic counterparts are also stimulating the growth of the industry in the region.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the North America flavors and fragrances market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on product type, form, application and ingredients.

Key Regions Analysed
- United States
- Canada

Market by Segment

Flavors Market
- Market by Product Type
  - Natural-Identical
  - Artificial
  - Natural
- Market by Form
  - Liquid
  - Dry
- Market by Application
  - Beverages
  - Dairy and Frozen Desserts
  - Bakery and Confectionery Products
  - Savories and Snacks
  - Others
Fragrances Market
- Market by Application
  - Cosmetics and Toiletries
  - Fine Fragrances
  - Household Cleaners and Air Fresheners
  - Soap and Detergents
  - Others
- Market by Ingredients
  - Natural
  - Synthetic
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Competitive Landscape
- Competitive Structure
- Key Player Profiles

Report Coverage:

Base Year Considered: 2023
Historical Data Coverage: 2018-2023
Market Forecast: 2024-2032
Currency: US$
Geography Covered: North America, United States and Canada
Segments Covered:
- Flavors: Product Type, Form and Application.
- Fragrances: Application and Ingredients.

Key Questions Answered in This Report

The North America flavors and fragrances market was valued at US$ 10.3 Billion in 2023.

We expect the North America flavors and fragrances market to exhibit a CAGR of 3.3% during 2024-2032.

The rising adoption of flavors and fragrances as healing scents for mental well-being and hygiene is primarily driving the North America flavors and fragrances market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of flavors and fragrances across several North American nations.

Based on the product type, the North America flavors market can be segmented into natural-identical, artificial, and natural. Currently, natural-identical holds the majority of the total market share.

Based on the form, the North America flavors market has been divided into liquid and dry, where liquid currently exhibits a clear dominance in the market.

Based on the application, the North America flavors market can be categorized into beverages, dairy and frozen desserts, bakery and confectionery products, savories and snacks, and others. Currently, beverages account for the majority of the total market share.

Based on the application, the North America fragrances market has been segregated into cosmetics and toiletries, fine fragrances, household cleaners and air fresheners, soap and detergents, and others. Among these, soap and detergents currently hold the largest market share.

Based on the ingredients, the North America fragrances market can be bifurcated into natural and synthetic. Currently, synthetic exhibits a clear dominance in the market.

On a regional level, the market has been classified into United States and Canada, where United States currently dominates the North America flavors and fragrances market.

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