Top 10 companies in the global flavor and fragrance market

In the recently released financial report analysis document, Japan Hasegawa Spice Co., Ltd. (T. Hasegawa) predicted that the global flavor and fragrance market sales will reach 3 trillion yen this year, and based on public data, it gives the latest ten flavor and fragrance companies Ranking.

Hasegawa said that this year, the global flavor and fragrance market will grow by nearly 6% over the previous year. From 2009 to 2018, South America experienced the fastest growth with a compound annual growth rate of 8.1%; Asia had the second growth rate of 4.5%; Europe, Africa and the Middle East had the third growth rate of 3.1%; North America had the slowest growth rate, only 2.9%.

 
1. Global sales will reach 3 trillion yen in 2020

Hasegawa predicts that in 2020, the global flavor and fragrance market sales are expected to reach 3 trillion yen (contract $27.9 billion). Among them, the largest market in Europe, Africa and the Middle East has sales of about 1.1 trillion yen, and the third largest market in North America is about 770 billion yen. In these two regions, large manufacturers in Europe and the United States have established a solid business foundation here because many manufacturers that require fragrance products have adopted a "preferred supplier" system.
 
The second largest market for flavors and fragrances in the world is Asia, with sales of 890 billion yen expected this year. The most critical growth market is China, where many large flavor and fragrance companies have developed business.
 
South America is the smallest market, with sales of 240 billion yen expected this year. Most flavor products are imported from North America and Mexico. At present, in Brazil, where economic growth is fast, competition in the flavor and fragrance market is becoming increasingly fierce.

 
2. Top 10 global fragrance companies released (2019 data)

In addition, Hasegawa also gave the latest ranking of the top ten fragrance companies based on data released by various companies. Swiss giant Givaudan successfully defended its title and ranked first, with sales of US$6.156 billion in 2019 and a market share of 24.1%. Followed by the United States International Fragrance and Flavor (IFF), Firmenich, etc., Hasegawa itself ranked tenth.
 
Note: Man's sales are based on 2018 data