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World Flavors & Fragrances Global demand for flavors and fragrances is projected to increase 4.3 percent annually th
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INDUSTRY MARKET RESEARCH FOR BUSINESS LEADERS, STRATEGISTS, DECISION MAKERS
Table of Contents 2 List of Tables & Charts 3 Study Overview 4
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Sample Text, Table & Chart 5 Sample Profile, Table & Forecast 6 Order Form & Corporate Use License 7 About Freedonia, Custom Research, Related Studies, 8
Flavors & Fragrances US Industry Study with Forecasts for 2014 & 2019 Study #2732 | February 2011 | $4900 | 270 pages
The Freedonia Group 767 Beta Drive
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Study #2732 February 2011 $4900 270 Pages
Flavors & Fragrances US Industry Study with Forecasts for 2014 & 2019
Table of Contents Executive Summary Market EnvironmenT General........................................... 4 Macroeconomic Outlook..................... 5 Demographic Trends.......................... 8 Personal Consumption Expenditures... 11 Historical Market Trends................... 13 Pricing Patterns.............................. 16 Environmental & Regulatory Issues.... 19 Flavors....................................... 20 Fragrances.................................. 23 International Activity...................... 25 Foreign Trade................................. 27 Imports...................................... 28 Exports....................................... 29
MARKETS General......................................... 31 Food............................................. 35 Industry Overview........................ 35 Flavor Demand............................. 37 Processed Food......................... 42 Dairy Products.......................... 45 Bakery Products........................ 48 Candy & Confectioneries............. 50 Other Food............................... 52 Cosmetics & Toiletries...................... 56 Industry Overview........................ 56 Flavor & Fragrance Demand............ 59 Perfumes & Colognes.................. 64 Skin Care Products..................... 67 Soaps & Body Washes................. 70 Other Cosmetics & Toiletries........ 72 Cleaning Products........................... 75 Industry Overview........................ 76 Fragrance Demand........................ 78 Laundry Detergents.................... 80 Polishes & Sanitation Goods........ 84 Dishwashing Detergents & Other Cleaners..................... 87
Environmental Fragrance Goods......... 90 Industry Overview........................ 90 Fragrance Demand........................ 94 Air Fresheners & Deodorizers....... 96 Candles.................................... 99 Potpourri & Other Environmental Fragrance Goods.....................101 Beverages.....................................102 Industry Overview.......................103 Flavor Demand............................105 Carbonated Soft Drinks..............108 Other Beverages.......................110 Other Markets................................114
PRODUCTS General........................................118 Flavor Blends................................120 Fruity........................................125 Savory.......................................127 Cheese & Other Dairy...................128 Meat.........................................129 Other Flavor Blends.....................131 Fragrance Blends............................133 Product Characteristics.................135 New Applications........................136 Essential Oils & Natural Extracts.......138 Citrus Oils..................................141 Lemon Oil...............................143 Orange Oil...............................146 Other Citrus Oils.......................148 Mint Oils....................................150 Peppermint Oil.........................152 Spearmint & Other Mint Oils.......155 Other Essential Oils & Natural Extracts.....................157 Aroma Chemicals............................160 Demand by Class.........................162 Synthetic................................163 Natural...................................164 Demand by Type..........................166 Terpenoids...............................166 Benzenoids..............................168 Musks & Other Aroma Chemicals.. 169
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INDUSTRY STRUCTURE General........................................170 Market Share.................................174 Mergers & Acquisitions....................180 Competitive Strategies....................183 Product Differentiation.................184 Market Segmentation...................185 Cooperative Agreements...............186 Research & Development.................189 Natural Flavors & Fragrances.........191 Biotechnology............................192 Delivery Systems.........................194 Production Methods........................197 Marketing & Distribution.................198
Company Profiles Agilex Flavors & Fragrances.............201 Aromatech France..........................202 BASF SE........................................204 Bedoukian Research.......................206 Bell Flavors & Fragrances.................207 Belmay Incorporated......................209 Cargill Incorporated.......................210 Comax Flavors...............................211 ConAgra Foods...............................213 Firmenich SA.................................214 Flavorchem Corporation...................217 Givaudan SA..................................218 Hasegawa (T.) Company..................223 ICC Industries................................225 International Flavors & Fragrances....227 Kao Corporation.............................231 Kerry Group...................................233 LyondellBasell Industries.................235 Mane (V.) Fils................................236 McCormick & Company....................237 Michael (David) & Company.............239 Naturex SA....................................241 Polarome International...................242 Renessenz LLC...............................243 Rhodia SA.....................................244 Robertet SA..................................246 Royal DSM....................................248
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Study #2732 February 2011 $4900 270 Pages
Flavors & Fragrances US Industry Study with Forecasts for 2014 & 2019
Table of Contents Company Profiles (continued from previous page) Sensient Technologies.....................250 Symrise AG...................................253 Takasago International....................256 Todd (AM) Company.......................257 Treatt (RC) plc...............................258 Ungerer & Company........................260 Vigon International........................261 WILD (Rudolf) GmbH......................263 Other Firms Mentioned in Study........266
List of Tables/Charts Executive Summary 1 Summary Table............................ 3
Market EnvironmenT 1 Macroeconomic Indicators............ 8 2 Population & Households............ 11 3 Personal Consumption Expenditures.......................... 13 4 Flavor & Fragrance Market, 1999-2009............................. 15 Cht Flavor & Fragrance Market, 1999-2009................. 16 5 Flavor & Fragrance Pricing.......... 19 Cht World Flavor & Fragrance Demand, 2009........................ 27 6 Flavor & Fragrance Supply & Demand................... 28 Cht US Flavor & Fragrance Imports by Source, 2009..................... 29 Cht US Flavor & Fragrance Exports by Destination, 2009............... 30
MARKETS 1 Flavor & Fragrance Demand by Market.............................. 34 Cht Flavor & Fragrance Demand by Market, 2009..................... 34
2 Food Shipments........................ 37 3 Food: Flavor Demand.................. 41 Cht Food: Flavor Demand, 2009......... 42 4 Processed Food: Flavor Demand... 45 5 Dairy Products: Flavor Demand..... 48 6 Bakery Products: Flavor Demand.. 50 7 Candy & Confectioneries: Flavor Demand....................... 52 8 Other Food: Flavor Demand......... 55 9 Cosmetic & Toiletry Shipments..... 58 10 Cosmetics & Toiletries: Flavor & Fragrance Demand............... 63 Cht Cosmetics & Toiletries: Flavor & Fragrance Demand, 2009....... 64 11 Perfumes & Colognes: Fragrance Demand.................. 67 12 Skin Care Products: Fragrance Demand.................. 70 13 Soaps & Body Washes: Fragrance Demand.................. 72 14 Other Cosmetics & Toiletries: Flavor & Fragrance Demand............... 75 15 Cleaning Product Shipments........ 78 16 Cleaning Products: Fragrance Demand.................. 80 17 Laundry Detergents: Fragrance Demand.................. 84 18 Polishes & Sanitation Goods: Fragrance Demand.................. 87 19 Dishwashing Detergents & Other Cleaners: Fragrance Demand..... 90 20 Environmental Fragrance Goods Indicators.................... 94 21 Environmental Fragrance Goods: Fragrance Demand.................. 96 22 Air Fresheners & Deodorizers: Fragrance Demand.................. 98 23 Candles: Fragrance Demand........101 24 Potpourri & Other Environmental Fragrance Goods: Fragrance Demand.................102 25 Beverage Shipments..................105 26 Beverages: Flavor Demand.........108
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27 Carbonated Soft Drinks: Flavor Demand......................110 28 Other Beverages: Flavor Demand 114 29 Other Markets: Flavor & Fragrance Demand.................117
PRODUCTS 1 Flavor & Fragrance Demand by Product............................119 Cht Flavor & Fragrance Demand by Product, 2009...................120 2 Flavor Blend Demand................124 Cht Flavor Blend Demand by Type, 2009.......................125 3 Fragrance Blend Demand............135 4 Essential Oil & Natural Extract Demand.....................140 5 Citrus Oil Demand.....................143 6 Lemon Oil Demand....................145 7 Orange Oil Demand...................148 8 Other Citrus Oil Demand............150 9 Mint Oil Demand......................152 10 Peppermint Oil Demand.............154 11 Spearmint & Other Mint Oil Demand....................157 12 Other Essential Oil & Natural Extract Demand.....................159 13 Aroma Chemical Demand............162 14 Synthetic Aroma Chemical Demand..................164 15 Natural Aroma Chemical Demand 166
INDUSTRY STRUCTURE 1 US Flavor & Fragrance Sales by Company, 2009.................172 Cht US Flavor & Fragrance Market Share by Company, 2009.................175 2 Selected Acquisitions & Divestitures.......................183 3 Selected Cooperative Agreements..........................187 4 R&D Spending Patterns: Selected Flavor & Fragrance Suppliers....191
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Study #2732 February 2011 $4900 270 Pages
Flavors & Fragrances US Industry Study with Forecasts for 2014 & 2019
Advances will be fueled by consumer interest in more complex, exotic and authentic flavors and fragrances, as well as their increasing use as marketing tools and product differentiators.
US demand to rise 3% annually through 2014 The US market for flavors and fragrances is forecast to rise 3.0 percent annually to $5.5 billion in 2014. Demand will benefit from an improving economic outlook, as well as continued expansion in the food, beverage, and cosmetic and toiletry sectors. Advances will be fueled by consumer interest in more complex, exotic and authentic flavors and fragrances, as well as the increasing utilization of these products as marketing tools and product differentiators.
US Flavor & Fragrance Demand ($5.5 billion, 2014)
Cosmetics & Toiletries 27%
Cleaning Products 12% Environmental Fragrance Goods 10%
Food market to benefit from health concerns Gains in the flavor segment will be triggered by heightened health concerns among the US population. New dietary guidelines, The National Salt Reduction Initiative, and Wal-Mart’s recently announced plan to cut down on sodium and sugar in thousands of packaged food products, will further drive the trend toward healthier eating options. The widespread reformulation of food products will promote demand for flavors, as processors seek innovative ways to improve the taste of foods with reduced sodium, sugar and fat content.
Skin care, environmental products to grow fastest In the cosmetic and toiletry market, skin care products will provide strong advances, propelled by demand for natural
Food 36%
Beverages & Other 15%
products and the incorporation of beneficial ingredients into skin care formulations. As the large baby boomer population approaches age 65, gains will be fueled by greater demand for highvalue skin care products designed specifically for mature skin. Such cosmetics and toiletries often contain malodorous active ingredients that require masking with high fragrance loadings. Demand will also benefit from the continued introduction of lotions and other skin care products that are marketed primarily on the basis of scent, rather than functionality. However, overall advances will be limited by competition from fragrance-free products.
Environmental fragrance goods represent a small, but growing market. Following the recession that began in late 2007, consumers are spending more time at home and are increasingly interested in enhancing their living spaces through the use of air care products, particularly those that complement their home’s décor with attractive designs. However, while consumers are increasingly willing to experiment with new products and scents, fragrance demand will be negatively impacted by the fragrance bans in schools, churches and various workplaces. Furthermore, this market will face challenges as concerns rise about the presence of potentially harmful chemicals, such as phthalates, in certain air care products. Copyright 2011 The Freedonia Group, Inc.
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Study #2732 February 2011 $4900 270 Pages
Flavors & Fragrances US Industry Study with Forecasts for 2014 & 2019
Sample Text, Table & Chart
TABLE IV-5 CITRUS OIL DEMAND (million dollars) Item
1999 2004 2009 2014 2019
Food & Beverage Shipments (bil $) 463 $ citrus oil/000$ food & beverages 0.41 products Citrus Oil Demand 191 By Type: Citrus Oils Lemon 106 Demand for citrus oils is expected to rise 4.1 percent annually to Orange 32 $379 million in 2014. Citrus oils will see healthy gains in almost everyOther 53 category, with the notable exception of the large and mature carbonated By Market: soft drink market. Other beverage segments, however, will record strong Beverages 102 growth, as will the food market as a whole. The growing popularity Other 89 of less conventional citrus scents, such as clementine, grapefruit and tangerine, will bode well for demand, particularly in the personal care % citrus oils 39.8 and cleaning product markets. Despite trends favoring the use of Essential natural Oil & Natural Extract Demand 480 ingredients, competition from less expensive synthetic alternatives will continue to restrain overall advances.
sample text
561 676 758 865 0.43 0.46 0.50 0.53 243
379
455
134 168 201 sample 39 49 63 70 93 115 table
235 77 143
117 126
310
141 169
166 213
196 259
41.2 41.9 42.1 41.7 590 740 900 1090
Citrus oil is a natural product, and is therefore vulnerable to weather conditions and diseases. As a result, pricing can be exceptionally volatile. Citrus oil prices spiked in 2004 due to a supply shortage caused by several severe hurricanes. These tropical storms did major damage to Florida’s citrus crop, orange and grapefruit in particular. Aside from natural disasters, citrus yields can be significantly impacted by cold weather. For example, early 2011 price forecasts for a number of citrus oils, especially orange and grapefruit, have been increased based on cold weather that has reduced the size of the Florida crop. Lemon oil pricing is more dependent on imports, with weather conditions and other factors in Argentina and Spain influencing prices in the US. Lime oil pricing tends to be more stable, but as of early 2011 strong demand for lime oil is expected to push prices higher. Due to high prices and supply uncertainties of natural citrus oils, flavor and fragrance houses are intent on CHART V-1 providing authentic synthetic alternatives at a reasonable cost. Continued improvement in alternatives will work to restrain demand for natural US FLAVOR & FRAGRANCE MARKET SHARE BY COMPANY citrus oils to some degree. ($4.8 billion, 2009) Lemon oil is the leading type of citrus oil, accounting for more than half of total sales in 2009. One of the most widely used essential oils in 141
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O th e rs 48%
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sample chart
M a rke t L e a d e rs 52%
17%
G iv au d an
11%
IF F
10%
F irm en ich
7%
S ym rise
7%
S en sien t
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Study #2732 February 2011 $4900 270 Pages
Flavors & Fragrances US Industry Study with Forecasts for 2014 & 2019
Sample Profile, Table & Forecast
TABLE III-3 FOOD: FLAVOR DEMAND (million dollars) Item
1999 2004 2009 2014 2019
Food Shipments (bil $) 404.7 488.8 596.2 665.0 761.0 $ flavors/000$ food 3.1 2.9 2.9 3.0 3.0 Food Flavor Demand 1235 1436 1740 1990 2280 Processed Food 443 512 636 717 808 Dairy Products 202 244 305 344 398 Bakery Products 223 255 290 331 367 Candy & Confectioneries 195 216 243 281 330 Other 172 209 266 317 377 % food 37.4 36.7 36.6 36.2 35.6 Total Flavor & Fragrance Demand 3300 3910 4750 5500 6400
sample table
COMPANY PROFILES Agilex Flavors & Fragrances Incorporated 10 Mountainview Road, North Atrium Upper Saddle River, NJ 07458 201-236-8150 http://www.agilexfandf.com
sample profile
Annual Sales: $70 million (estimated) Employment: 150 (estimated)
Key Products: fragrances for air care products, personal care products and candles Agilex Flavors & Fragrances is a leading manufacturer of flavors and fragrances for use in food, beverages, personal care products and home environment products. Prior to November 2010, the privately held company operated through two main divisions: Flavor and Fragrance. In November 2010, the Company sold the Flavor division (Rancho Santa Margarita, California), which operated as Agilex Flavors and had annual sales of approximately $30 million, to Kerry Group plc (Ireland). The Company is active in the US flavor and fragrance industry through the Fragrance division (Piscataway, New Jersey), which develops, manufactures and sells fragrances and fragrance technologies for use in the production of air care products, personal care products and candles. Specific products include METAGEL and AROMAGEL gel matrices; THERMOCLEAR thermoplastic air freshener fragrance; TREASAIRES, AROMASPHERES and TREASAIRES macro-encapsulated water-based gel fragrance crystals; AROMAREED fragrances for reed diffuser products; AROMAPOLY fragrance polymer encapsulations; VANILLAWHITE vanilla fragrance supplement; SENSITECH malodor-reducing fragrance compound AROMAPUFFS foamed 201
--Section III, pg. 50
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“Demand for flavors in candy and confectioneries, including chewing gum and non-medicinal cough drops, is forecast to expand at an annual pace of 2.9 percent to $281 million in 2014, outpacing gains in the overall food flavor market. Demand will be driven by accelerating growth in candy and confectionery shipments through 2014. Advances will also benefit from the rising use of higher-quality (and more expensive) flavors providing increased intensity and greater impact.”
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INDUSTRY MARKET RESEARCH FOR BUSINESS LEADERS, STRATEGISTS, DECISION MAKERS
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#2683............... September 2010................ $4900
World Flavors & Fragrances Global demand for flavors and fragrances is projected to increase 4.3 percent annually through 2014. Overall advances will be stimulated by gains in food and beverage processing, the largest market. The best opportunities will be found in developing areas, particularly the Asia/Pacific region. This study analyzes the $19 billion world flavor and fragrance industry, with forecasts for 2014 and 2019 by product, market, world region and for 19 countries. It also evaluates company market share and profiles industry players.
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About The Freedonia Group The Freedonia Group, Inc., is a leading international industry market research company that provides its clients with information and analysis needed to make informed strategic decisions for their businesses. Studies help clients identify business opportunities, develop strategies, make investment decisions and evaluate opportunities and threats. Freedonia research is designed to deliver unbiased views and reliable outlooks to assist clients in making the right decisions. Freedonia capitalizes on the resources of its proprietary in-house research team of experienced economists, professional analysts, industry researchers and editorial groups. Freedonia covers a diverse group of industries throughout the United States, the emerging China market, and other world markets. Industries analyzed by Freedonia include: • Chemicals • Plastics • Life Sciences • Packaging • Building Materials • Security & Electronics • Industrial Components & Equipment • Automotive & Transportation Equipment • Household Goods • Energy/Power Equipment
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Freedonia Custom Research Freedonia Custom Research delivers the same high quality, thorough and unbiased assessment of an industry or market as an industry study. Since the research initiative is based upon a company’s specific needs, companies harness Freedonia’s research capabilities and resources to answer unique questions. When you leverage the results of a Freedonia Custom Research engagement, you are able to obtain important answers to specific questions and issues associated with: mergers and acquisitions, new product launches/development, geographic expansion, entry into new markets, strategic business planning, and investment and funding decisions. Freedonia Custom Research is ideal for companies seeking to make a strategic difference in the status quo and focus on future business growth. Working side by side with clients, Freedonia’s team is able to define a research project that is customtailored to answer specific questions and provide the basis from which a company can make informed business decisions.
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#2597.................. March 2010.................... $5700
Food & Beverage Additives US demand for food and beverage additives is forecast to expand 3.5 percent annually through 2014. Flavor products and alternative sweeteners will remain the largest product types, while nutraceuticals (e.g., vitamins, minerals, herbal extracts, probiotics) will see the most rapid gains. This study analyzes the $7.2 billion US food and beverage additive industry, with forecasts for 2014 and 2019 by product and application. It also evaluates company market share and profiles industry competitors.
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The Freedonia Group, Inc. 767 Beta Drive • Cleveland, OH • 44143-2326 • USA • Web site: www.freedoniagroup.com Tel US: 800.927.5900 or +1 440.684.9600 • Fax: +1 440.646.0484 • e-mail: [email protected]