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Flavors and Fragrances market projected to grow to US$35 billion by 2020

  • Flavors and Fragrances market projected to grow to US$35 billion by 2020

    by Market Insider

    Tuesday, 27 Jan. 2015

    The global market for flavours and flavours is expected to grow to over US$35 billion by 2019, according to a new report released by BCC Research.  Highlights of the report are:

    • The global flavour and fragrance market totaled US$23.9 billion in 2013. This market is expected to grow to US$25.3 billion in 2014 and US$35.5 billion in 2019, a compound annual growth rate (CAGR) of 5.8%;

    • The North American market was US$7.1 billion in 2013. This market is expected to grow to US$7.5 billion in 2014 and $9.9 billion in 2019, with a CAGR of 5.7%.

    • The Western Europe market was US$7.0 billion in 2013. This market is expected to grow to US$7.3 billion in 2014 and US$9.7 billion in 2019, with a CAGR of 5.8%.

    Source: BCC Research

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