According to IMARC Group latest report titled “North America Flavors and Fragrances Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on flavors and Ffragrances market in North America. The report also includes competitor and regional analysis, and contemporary advancements in the market. The North America flavors and fragrances market size reached US$ 9.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.
What are flavors and fragrances?
Flavors and fragrances are sensory elements that add depth, character, and appeal to various products, improving experiences in the realms of taste and smell. Flavors refer to the sensory perceptions we associate with the sense of taste, while fragrances encompass the olfactory sensations we perceive through our sense of smell. The gustatory system, which allows for the perception of the five basic tastes of sweet, sour, bitter, salty, and umami, is principally responsible for flavor. Flavors are created using a wide range of natural and synthetic compounds, including essential oils, aromatic extracts, and chemical additives. Fragrances are composed of a blend of volatile aromatic compounds derived from natural sources such as flowers, fruits, spices, and woods, as well as synthetic ingredients created in laboratories.
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What are the growth prospects and trends in the North America flavors and fragrances industry?
The changing consumer preferences majorly drive the market in North America. This can be supported by the continuous demand for new and innovative flavors and fragrances across various industries, such as food and beverages, personal care, and home care. Along with this, the rising increasing interest in natural and organic products, as well as their desire for unique and personalized experiences, are driving the demand for novel and diverse flavors and fragrances. In addition, the growing health consciousness across the region is positively influencing the market. Apart from this, the implementation of stringent regulations regarding the safety and labeling of flavors and fragrances is contributing to the market. Furthermore, the emergence of novel extraction techniques, such as supercritical fluid extraction and molecular distillation, enabling the production of more authentic and high-quality flavors and fragrances is creating a positive market outlook.
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North America Flavors and Fragrances Market Segmentation:
Our report has categorized the market based on region, product type, form, application and ingredients.
Key Regions Analysed:
- United States
- Canada
Breakup 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
- Market by Application
- Market by Product Type
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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