The encapsulated flavors and fragrances market value is projected to cross USD 10.2 billion by 2027, according to a new research report by Global Market Insights Inc. Strong application scope in food processing industry along with the rising usage of personal care & toiletries will boost the overall market demand over the forecast period.
Encapsulated fragrance blends product segment surpassed USD 2 billion in 2020 and is set to register a significant CAGR in the coming years due to rising product demand from fine fragrances and premium cosmetics products.
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Some major findings of the encapsulated flavors & fragrances market report include:
- Encapsulated flavors and fragrances industry from chewing gum surpassed USD 945 million in 2020 and is expected to grow at a CAGR of around 5% over the forecast period propelled by increasing adoption of fortified vitamins and fruit flavors-based chewing gums.
- Global market from nano-encapsulation process is set to witness over 4.5% CAGR up to 2027 supported by rising demand for nano capsules to deliver bio-actives to the appropriate physiological site via targeted delivery.
- China encapsulated flavors and fragrances market is anticipated to reach over USD 1 billion by 2027 at a CAGR of around 5.5% owing to favorable regulatory environment related to natural food additives in different countries such as India and China coupled with rapid economic and industrial development.
- Market players are investing heavily in R&D to develop & manufacture innovative & cost-effective products to meet the customer’s specific requirements.
- Cargill, Ingredion Incorporated, Friesland Campina Kievit, Firmenich, Symrise, Sensient Technologies and Aveka Group are some of the major players operating in the global market.
Browse key industry insights spread across 700 pages with 1000 market data tables and 15 figures & charts from the report, “Encapsulated Flavors and Fragrances Market By Product (Flavor Blends, Fragrance Blends, Essential Oils & Natural Extracts, Aroma Chemicals), Technology (Physical Process, Chemical & Physicochemical Process), Encapsulation Process (Micro Encapsulation, Nano Encapsulation, Hybrid Technology, Macro Encapsulation), End-Use (Food & Beverages, Toiletries & Cleaners), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
European encapsulated flavors & fragrances market exceeded USD 1.95 billion in 2020 and is set to register a significant CAGR through 2027 owing to strong automotive and manufacturing sector. According to The Personal Care Association, European cosmetics and personal care industry is among the largest market for cosmetic products in the world valued around USD 86.5 billion in 2020. Increasing demand of premium and natural cosmetics product from global business is driving the demand for encapsulated fragrance thereby accelerating the regional market forecasts.
COVID-19 pandemic disrupted manufacturing of baking & confectionery and other food products, stagnating the food processing industry. Declining production and shut down of retail stores at the beginning of the COVID-19 and disruptions in the supply chain of raw materials were the major concerns for food manufacturers.
However, after opening the emergency services and due to fear of being out of stock RTE food products has experienced a significant rise which further has positive impact on the industry demand. Additionally, growing awareness about personal health & hygiene has accelerated the sales of homecare products, further supporting the encapsulated flavors and fragrances market expansion in Europe.