US flavours and fragrances market to reach $7.1bn by 2017

Published: 30-Aug-2013

A study by The Freedonia Group says use of body washes, perfumes and cologne will spur growth in fragrance blends

The US market for flavours and fragrances is forecast to advance 4.6% per year to reach $7.1bn in 2017, according to a new study from The Freedonia Group, Inc, called Flavors & Fragrances. The market research firm says that while flavour blends are expected to account for the lion's share of the market, essential oils and natural extracts, a smaller segment, looks set to post the fastest growth. Additionally, trends toward more complex and exotic flavours and scents will boost demand for new blends.

In cosmetics and toiletries, growth in fragrance blends will be spurred by use in body washes, perfumes and colognes in particular. It will also be supported by above average advances in the smaller cleaning products segment. However more moderate growth in environmental fragrance goods will act as a restraint on even faster increases as a result of weakness in candles, says The Freedonia Group.

Meanwhile, rising consumer interest in natural items will fuel demand for essential oils and natural extracts, which The Freedonia Group predicts will outpace flavour and fragrance blends in demand growth going forward. Demand growth in aroma chemicals for use in the flavour and fragrance industry has lagged behind that of other products and will continue to do so, although advances in natural aroma chemicals will remain above average through 2017.

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