According to the research report titled ‘Global Flavors and Fragrances Market (2020 Edition) a?? Analysis By Product, By End Use, By Region, By Country: Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global flavors and fragrances market amassed a valuation of USD 28651.5 million in 2019 and is expected to register a healthy growth rate during 2020-2025.
 

As per the findings of the research literature, rapid urbanization, increasing health conscious population, along with strong demand from cosmetics and food & beverage verticals are promoting worldwide flavors and fragrances market growth.
 

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Elaborating on the Covid-19 impact, the pandemic has had little impact on the market owing to the short-term disruption of the value chain.
 

Based on product terrain, the market is split into fragrances and flavors, among which, the latter segment is anticipated to capture majority industry share over the forecast duration. Changing consumer lifestyles and subsequent surge in demand for convenience food, along with expansion of worldwide beverage industry in terms of packaging and logistics are supporting the segment growth.
 

The global flavors and fragrances market research literature is also studied from the perspective of end-use. Under flavors, savory foods, dairy, beverages, and confectionery & bakery products are the key segments covered in the document. With respect to fragrances, the sub-markets are fine fragrances, toiletries, cosmetics, and others.
 

On the geographical front, North America, Asia Pacific, and Europe are the prime growth hubs for businesses operating in this domain. In particular, APAC is touted to lead the industry progression over the forecast timeframe, attributable to presence of a massive consumer base, changing lifestyles of people, and escalating demand for packaged and organic food products in the region.   
 

Speaking of the competitive landscape, top contenders influencing the overall flavors and fragrances industry trends are Huabao International Holdings Ltd., T. Hasegawa Co. Ltd., Robertet Group, Sensient Technologies Corp., Takasago International Corp., Mane SA, Firmenich SA, Symrise AG, International Flavors & Fragrances Inc., and Givaudan S.A.
 

Expert analysts cite that development of ingredients with value added benefits, along with utilization of natural Ingredients for flavors and fragrances are expected to help businesses improve their market position.