Asia Pacific to become largest market for flavours and fragrances

Research and Markets has released new data on the flavour and fragrance market. According to the report, Global Flavor & Fragrance Market Report - 2013 Edition, the market continued to grow in 2012 despite economic woes. Demand increased from the food and beverage, cosmetics, perfume and household products industries. It was boosted by the notable increase in packaged food products as well as the readiness of consumers to try new flavours and fragrances.

In the past year, suppliers have been aggressively seeking markets in Asia Pacific, Latin America and the Middle East & Africa. With its rapid growth, Asia Pacific is projected to overtake North America, which is currently the largest market. The biggest challenge for companies was the fluctuating cost of raw materials.

The report names and profiles the top companies for flavours and fragrances: Givaundan, Firmenich, IFF, Symrise, Takasago, Wild Flavors, Mane SA, Sensient Flavors and Frutarom. - Business Wire