Product Code: ETC4474405 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India flavors & fragrances market import shipment demonstrated robust growth from 2020 to 2024, with a notable CAGR of 15.6%. The momentum accelerated between 2023 and 2024, with a growth rate of 42.3%. The market expanded significantly, indicating a strong upward trend during the period.
The India flavors and fragrances market is a dynamic and rapidly growing industry. With a diverse and culturally rich nation, the demand for flavors and fragrances is vast and varied. The market is characterized by a wide range of players, from global multinational corporations to local manufacturers. The key drivers of this market include the booming food and beverage sector, the growing popularity of personal care and cosmetics products, and the increasing disposable income of the India population. The flavors and fragrances industry in India encompasses a wide array of products, including natural and synthetic flavors, essential oils, aroma chemicals, and more. With a focus on innovation, product development, and the adoption of sustainable and organic ingredients, the industry is poised for continued growth.
The flavors and fragrances market in India is driven by the expanding food and beverage industry and the rising demand for personal care products. As consumers seek unique and appealing sensory experiences, the demand for innovative and high-quality flavors and fragrances continues to grow.
The flavors and fragrances market in India faces several challenges, including the need for natural and sustainable ingredients. Consumers are increasingly seeking products with clean labels and minimal synthetic additives, requiring manufacturers to invest in research and development for natural flavor and fragrance solutions. Regulatory compliance and quality control are essential but can be resource-intensive, given the diverse range of products in the market. Additionally, the market is sensitive to fluctuations in the prices of raw materials, especially essential oils and botanical extracts. Meeting consumer demands for unique and exotic flavors while ensuring sustainability and affordability is a constant challenge.
The flavors and fragrances market in India experienced mixed effects from the COVID-19 pandemic. While the demand for flavors and fragrances used in the food and beverage industry remained relatively stable, the market for fragrances used in personal care and cosmetics products faced a decline as consumers reduced discretionary spending on non-essential items. Post-pandemic, the market is expected to rebound as consumers return to purchasing cosmetics and personal care products, and the food and beverage industry continues to innovate with new flavors and scents to meet consumer demands.
Key players in the India flavors and fragrances market are Givaudan India Private Limited, International Flavors & Fragrances Inc., Firmenich India Private Limited, Mane India Pvt. Ltd., and Symrise India Pvt. Ltd.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Flavors & Fragrances Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Flavors & Fragrances Market Revenues & Volume, 2021 & 2031F |
3.3 India Flavors & Fragrances Market - Industry Life Cycle |
3.4 India Flavors & Fragrances Market - Porter's Five Forces |
3.5 India Flavors & Fragrances Market Revenues & Volume Share, By Ingredients, 2021 & 2031F |
3.6 India Flavors & Fragrances Market Revenues & Volume Share, By End-use Industry, 2021 & 2031F |
4 India Flavors & Fragrances Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing demand for natural and organic flavors and fragrances due to increasing health consciousness among consumers. |
4.2.2 Rising disposable income leading to higher spending on premium and luxury fragrance products. |
4.2.3 Expansion of the food and beverage industry in India, driving the demand for flavors to cater to diverse consumer preferences. |
4.3 Market Restraints |
4.3.1 Fluctuating prices of raw materials impacting the production costs of flavors and fragrances. |
4.3.2 Stringent regulations and compliance requirements in the industry leading to challenges in product development and innovation. |
5 India Flavors & Fragrances Market Trends |
6 India Flavors & Fragrances Market, By Types |
6.1 India Flavors & Fragrances Market, By Ingredients |
6.1.1 Overview and Analysis |
6.1.2 India Flavors & Fragrances Market Revenues & Volume, By Ingredients, 2021-2031F |
6.1.3 India Flavors & Fragrances Market Revenues & Volume, By Natural, 2021-2031F |
6.1.4 India Flavors & Fragrances Market Revenues & Volume, By Synthetic, 2021-2031F |
6.2 India Flavors & Fragrances Market, By End-use Industry |
6.2.1 Overview and Analysis |
6.2.2 India Flavors & Fragrances Market Revenues & Volume, By Flavors, 2021-2031F |
6.2.3 India Flavors & Fragrances Market Revenues & Volume, By Fragrances, 2021-2031F |
7 India Flavors & Fragrances Market Import-Export Trade Statistics |
7.1 India Flavors & Fragrances Market Export to Major Countries |
7.2 India Flavors & Fragrances Market Imports from Major Countries |
8 India Flavors & Fragrances Market Key Performance Indicators |
8.1 Consumer preference shifts towards natural and organic ingredients in flavors and fragrances. |
8.2 Growth in the market segment for premium and luxury fragrance products. |
8.3 Adoption rate of innovative and sustainable production practices in the flavors and fragrances industry. |
9 India Flavors & Fragrances Market - Opportunity Assessment |
9.1 India Flavors & Fragrances Market Opportunity Assessment, By Ingredients, 2021 & 2031F |
9.2 India Flavors & Fragrances Market Opportunity Assessment, By End-use Industry, 2021 & 2031F |
10 India Flavors & Fragrances Market - Competitive Landscape |
10.1 India Flavors & Fragrances Market Revenue Share, By Companies, 2024 |
10.2 India Flavors & Fragrances Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |