Spain Flavors And Fragrances Market Size & Outlook
Spain flavors and fragrances market, 2018-2030 (US$M)
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Spain flavors and fragrances market highlights
- The Spain flavors and fragrances market generated a revenue of USD 490.5 million in 2022 and is expected to reach USD 585.4 million by 2030.
- The Spain market is expected to grow at a CAGR of 2.2% 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 490.5 million |
| Market revenue in 2030 | USD 585.4 million |
| Growth rate | 2.2% (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, Spain accounted for 1.7% 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 Europe, Germany flavors and fragrances market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 2,055.0 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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Spain 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 70.81% in 2022. Horizon Databook has segmented the Spain flavors and fragrances market based on natural flavors & fragrances, aroma chemicals covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the market in the country can be attributed to the increasing product demand from food & beverage industry. The strong presence of food & beverage industry in the region coupled with high disposable income and high standards of living of the consumers has contributed to the growth of the flavors and fragrances market.
Rising demand for chemical-free cosmetics in the country has forced cosmetic manufacturers to utilize naturally derived fragrances as a substitute for conventional chemicals. This trend is expected to largely benefit market growth over the forecast period. Essential oils are increasingly being used in the preparation of different flavors and fragrances.
The widening application scope of essential oils is expected to favor the market growth in the country. Several companies are changing their product lines to match with the changing customer preferences. Essential oils are now being marketed as a substitute for OTC remedies in a variety of ailments such as sleeplessness, depression, and itching among others.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Spain flavors and fragrances market , including forecasts for subscribers. This country databook contains high-level insights into Spain flavors and fragrances market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain flavors and fragrances market size, by product, 2018-2030 (US$M)
Spain Flavors And Fragrances Market Outlook Share, 2022 & 2030 (US$M)
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