October 19, 2012 03:08 ET

New Market Research -- Flavors and Fragrances to Rise 4.4% and Reach $26.5 Billion by 2016

ROCKVILLE, MD--(Marketwire - Oct 19, 2012) - has announced the addition of the new report "World Flavors & Fragrances," to their collection of market reports.

Worldwide demand for flavors and fragrances -- including flavor blends, fragrance blends, essential oils, and aroma chemicals -- will rise 4.4 percent annually through 2016, reaching $26.5 billion. Increasing packaged food manufacturing, especially of convenience products that require higher flavor usage, will drive fast growth in developing countries. Rising personal consumption expenditures in these emerging economies will also stimulate toiletry and cleaner shipments, which will contribute to healthy growth in fragrance blends. Increasing global interest in products that promote health benefits will also drive demand in both the food and beverage and cosmetics and toiletry markets, as masking flavors and fragrances are employed in conjunction with antioxidants and vitamins to reduce off-tastes and off-odors. Furthermore, efforts in developed countries to reduce calories, salt, and fat in foods will increase demand for flavors to improve the taste of those products.

Globally, there has been a rising interest in natural, organic, and more expensive products across a number of consumer markets, including food and beverages and toiletries and cleaners. Industry efforts to meet this demand will drive increased value consumption of nearly all types of flavors and fragrances, with the exception of aroma chemicals, which will be replaced by essential oils in certain product categories.

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