Middle East and Africa Flavours and Fragrances Market is expected to grow steadily in the Forecast Period of 2021-2026
The new report by Expert Market Research titled, ‘Middle East and Africa Flavours and Fragrances Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Middle East and Africa Flavours and Fragrances Market, assessing the market based on its segments like flavours (flavouring agent, form, application) fragrances (type, natural fragrances, application), type and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Global Market Value (2020): USD 28 Billion.
While the Middle East and Africa market accounts for a minor percentage of the worldwide industry, it is likely to grow rapidly in the coming years as main markets such as Europe and North America mature. Europe is the world’s largest market for flavours and fragrances, accounting for over 30% of total sales. Germany is the continent’s largest market, accounting for over a fifth of all sales, followed by the United Kingdom and France. The growing Eastern European region will grow faster than Western European economies in the next years. Europe is the largest market, followed by North America and Asia Pacific. The Asia Pacific, like the Middle East and Africa, is expected to grow rapidly, particularly when compared to more developed regions.
The sector in the Middle East and Africa will benefit from increased investments and expansions by global market leaders. The businesses are especially interested in developing items that cater to the region’s unique tastes and preferences. Growing economies and GDPs, as well as a rise in the middle-class population, are helping the business, as customers seek for more processed and luxury items. West Africa is establishing itself as an important market in the area, particularly in nations like Nigeria, which are seeing solid economic growth.
Industry Definition and Major Segments
Flavour refers to a product’s particular flavour, such as that of food and beverage items. Flavours are used to enhance or change the flavour of things. Fragrance, on the other hand, refers to substances that are added to things to give them a pleasant aroma or odour, such as food, cosmetics, and even detergents.
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Based on segment, the market covers:
- Flavours
- Fragrances
Based on type, the market is categorised into:
Flavours Market Analysis:
Based on flavouring Agent, the market is divided into:
- Nature Identical Flavouring Substance
- Artificial Flavouring Substance
- Natural Flavours
Based on form, the market is bifurcated into:
Based on application, the market is categorised into:
- Beverage
- Bakery and Confectionery Products
- Dairy and Frozen Desserts
- Savouries and snacks
Fragrances Market Analysis:
Based on type, the market is segmented into:
- Synthetic
- Natural
Based on natural fragrances type, the market is categorised into:
Based on application, the market is divided into:
- Soap and Detergents
- Cosmetics and Toiletries
- Fine Fragrances
- Household Cleaners and Air Fresheners
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The major regional markets include:
- Saudi Arabia
- United Arab Emirates
- Turkey
- South Africa
- Others
Market Trends
The market for flavours and fragrances in the Middle East and Africa is driven by the region’s thriving application sectors. The regional flavours & fragrance market is being spurred forward by a growth in the use of processed products such as dairy products, RTD drinks, and quick noodles, among others. The sector is also being driven by an increase in the number of innovations occurring in the industry, as well as several R&D initiatives undertaken by significant firms.
The industry in the Middle East and Africa is also benefiting from rising birth rates, urbanisation, and consumer disposable incomes. As both flavours and fragrances are employed in numerous cosmetics segments, the increasing cosmetics business is providing additional impetus to the industry. The biggest cosmetics markets in the Middle East are the United Arab Emirates and Saudi Arabia, which are expected to grow rapidly in the future years. The fragrance business, in particular, will benefit from the Middle East’s strong cosmetics industry, as perfume is a major revenue-generating commodity. The Gulf countries are the region’s most important cosmetics marketplaces, with a big population of high-income consumers prepared to spend more on high-end items. Businesses are also progressively moving into African markets, which are expected to grow rapidly over the next five years.
Key Market Players
The major players in the market are Firmenich SA, Givaudan SA, Balirom Ltd, Frutarom Industries Ltd, Kato Flavors & Fragrances S.A.E, Nicola-J Flavours and Fragrances, among others.
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