Mexico Flavors And Fragrances Market Size & Outlook
Mexico flavors and fragrances market, 2018-2030 (US$M)
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Mexico flavors and fragrances market highlights
- The Mexico flavors and fragrances market generated a revenue of USD 370.3 million in 2022 and is expected to reach USD 466.8 million by 2030.
- The Mexico market is expected to grow at a CAGR of 2.9% from 2023 to 2030.
- In terms of segment, natural flavors & fragrances was the largest revenue generating product in 2022.
- Natural Flavors & Fragrances is the most lucrative product segment registering the fastest growth during the forecast period.
Flavors and fragrances market data book summary
| Market revenue in 2022 | USD 370.3 million |
| Market revenue in 2030 | USD 466.8 million |
| Growth rate | 2.9% (CAGR from 2022 to 2030) |
| Largest segment | Natural flavors & fragrances |
| Fastest growing segment | Natural Flavors & Fragrances |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Natural Flavors & Fragrances, Aroma Chemicals |
| Key market players worldwide | Sensient Technologies Corp, MANE, Takasago International Corp, Alpha Aromatics, Ozone Naturals, Elevance Renewable Sciences, DSM Firmenich AG, Symrise AG, Vigon International, Basf SE, Indo World, Akay, Ungerer & Company, Synthite, Flavex Naturextrakte, DoTERRA, Young Living, Biolandes, International Flavors & Fragrances Inc, Givaudan SA |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.3% of the global flavors and fragrances market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. flavors and fragrances market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 7,431.7 million by 2030.
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Flavors And Fragrances Market Scope
Flavors And Fragrances Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico flavors and fragrances market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to flavors and fragrances market will help companies and investors design strategic landscapes.
Natural flavors & fragrances was the largest segment with a revenue share of 72.62% in 2022. Horizon Databook has segmented the Mexico flavors and fragrances market based on natural flavors & fragrances, aroma chemicals covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico is an important market for flavors and fragrances in North America. The country is the secondlargest lemon producer and holds a significant share in the global lime and orange production. Southeast and Southwest parts of Mexico are the major lemon producers. Oaxaca, Guerrero, and Jalisco are among the major lemon producing states in the country.
Tamaulipas is the major orange producing state of Mexico. However, excessive moisture and the presence of pests have caused the death of several orange trees in the past few years. Mexico lemon industry is dominated by processors, as they hold around 50% of the lemon plantations across the country.
This provides them with control over the lemon supply for flavors and fragrances production, thus, reducing the dependence on fresh fruit market for the extraction of flavors. Major market players are focusing on sourcing lime, lemon, and orange from Mexico owing to the suitable environment for production.
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Our clientele includes a mix of flavors and fragrances market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico flavors and fragrances market , including forecasts for subscribers. This country databook contains high-level insights into Mexico flavors and fragrances market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico flavors and fragrances market size, by product, 2018-2030 (US$M)
Mexico Flavors And Fragrances Market Outlook Share, 2022 & 2030 (US$M)
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