North America Flavors And Fragrances Market Size & Outlook
North America flavors and fragrances market, 2018-2030 (US$M)
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North America flavors and fragrances market highlights
- The North America flavors and fragrances market generated a revenue of USD 6,542.3 million in 2022.
- The market is expected to grow at a CAGR of 3.5% 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.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 6,542.3 million |
| Market revenue in 2030 | USD 8,611.4 million |
| Growth rate | 3.5% (CAGR from 2022 to 2030) |
| Largest segment | Natural flavors & fragrances |
| Fastest growing segment | Natural Flavors & Fragrances |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, North America region accounted for 22.5% of the global flavors and fragrances market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 16,005.5 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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North America 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 75.54% in 2022. Horizon Databook has segmented the North America flavors and fragrances market based on natural flavors & fragrances, aroma chemicals covering the revenue growth of each sub-segment from 2018 to 2030.
Flavors and fragrances are used in key end-use industries such as medical products and food & beverages to provide sensory appeal to the consumers. Essential oils are often used to prepare these flavor and fragrances. The North America market is characterized by the strong presence of food & beverage and pharmaceutical industries as well as other end-users of flavor and fragrances.
This has benefitted the market growth in the region. Factors such as high per capita income, tax benefits, and government subsidies are attracting global companies to start and expand their operation in this region which is projected to develop the application and production of various flavors & fragrances in North America.
Moreover, the Comprehensive Economic and Trade Agreement, abbreviated as CETA, is likely to eliminate the customs duty on industrial products as well as a majority of food and agricultural products.The trade agreement between Canada and the European Union is likely to enable the latter to participate in public bids within Canada.
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Target buyers of North America flavors and fragrances market databook
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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 continent-level data and insights on the North America flavors and fragrances market , including forecasts for subscribers. This continent databook contains high-level insights into North America flavors and fragrances market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America flavors and fragrances market size, by country, 2018-2030 (US$M)
North America Flavors And Fragrances Market Outlook Share, 2022 & 2030 (US$M)
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