North America Natural Flavors And Fragrances Market Size & Outlook
North America natural flavors and fragrances market, 2018-2030 (US$M)
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North America natural flavors and fragrances market highlights
- The North America natural flavors and fragrances market generated a revenue of USD 4,942.1 million in 2022.
- The market is expected to grow at a CAGR of 3.7% from 2023 to 2030.
- In terms of segment, essential oils was the largest revenue generating product in 2022.
- Essential Oils 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 4,942.1 million |
| Market revenue in 2030 | USD 6,584.9 million |
| Growth rate | 3.7% (CAGR from 2022 to 2030) |
| Largest segment | Essential oils |
| Fastest growing segment | Essential Oils |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Essential Oils, Oleoresins |
| Key market players worldwide | MANE, Blue Pacific Solar, Biolandes, Young Living, Basf SE, Symrise AG, Falcon Oil & Gas Ltd, DSM Firmenich AG, Givaudan SA, International Flavors & Fragrances Inc, Flavex Naturextrakte, Sensient Technologies Corp, Takasago International Corp, T Hasegawa Co Ltd, Robertet SA, McCormick & Co Inc, Kerry Group PLC Class A |
Other key industry trends
- In terms of revenue, North America region accounted for 22.7% of the global natural 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 12,112.5 million by 2030.
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Natural Flavors And Fragrances Market Scope
Natural Flavors And Fragrances Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America natural 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 natural flavors and fragrances market will help companies and investors design strategic landscapes.
Essential oils was the largest segment with a revenue share of 88.41% in 2022. Horizon Databook has segmented the North America natural flavors and fragrances market based on essential oils, oleoresins covering the revenue growth of each sub-segment from 2018 to 2030.
North America emerged as one of the prominent markets for various flavors and fragrances products, used in end-use application industries like food and beverages, and pharmaceuticals. Essential oils are frequently used to prepare these flavors. The region is leading in pharmaceutical and medical industry.
According to European Federation of Pharmaceutical Industries and Associations (EFPIA), in the year 2020, North America accounted for 49.0% of total world pharmaceutical products sales. The strong dominance of the region over the pharmaceutical market is due to solid presence of pharmaceutical companies. This has benefitted the natural flavors & fragrance market growth in the region.
Moreover, the food and beverages industry have greater prevalence in the region. Toppings, sauces, seasoning, spread are widely used products for flavor enhancement. According to an USFDA report, the consumers in the region have developed preference for more branded products based on prices and quality.
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Target buyers of North America natural flavors and fragrances market databook
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Our clientele includes a mix of natural 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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Horizon Databook provides a detailed overview of continent-level data and insights on the North America natural flavors and fragrances market , including forecasts for subscribers. This continent databook contains high-level insights into North America natural flavors and fragrances market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America natural flavors and fragrances market size, by country, 2018-2030 (US$M)
North America Natural Flavors And Fragrances Market Outlook Share, 2022 & 2030 (US$M)
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