The flavor and fragrance (F&F)
industry involves companies that supply a variety of flavor and fragrance
ingredients and components to food and beverages, perfume, cosmetics, food
industries as well as household products’ suppliers. All F&F companies need
to adhere to stringent supervisory, regulatory and environmental standards.
Demand for consumer products using flavors and fragrances has been stimulated
and broadened by changing social habits and economic growth, especially in
emerging markets. In emerging markets, strong GDP growth and a significant
expansion of the middle-class consumer are expanding the demand for
better-flavored and fragranced consumer products. Companies are developing new
formulas for flavors and fragrances in order to meet changing consumer
preferences and customer needs.
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During the year 2011, the F&F
market was accompanied by currency fluctuations and rising raw materials
prices. Many companies have intentionally reduced their spending on R&D in
order to compensate for the increase in raw material prices. The F&F market
is highly competitive. The industry has witnessed consolidation over the past
few years as the share held by the top-ten companies has consistently declined
from 2007 to 2011. Givaudan is the market leader. Other prominent market
players include Fermenich, IFF, Symrise, Takasago, Mane SA, Sensient Flavors,
T.Hasewaga and Frutarom.
The report provides an in-depth
analysis of the global flavor and fragrances market. The various drivers and
the challenges faced by the market are discussed in detail. The competitive
aspect of the market is also highlighted and the key players are profiled with
their strategies for this market.
By combining SPSS Inc.’s data
integration and analysis capabilities with our relevant findings, we have
predicted the future growth of the industry. We employed various significant
variables that have an impact on this industry and created regression models
with SPSS Base to determine the future direction of the industry. Before
deploying the regression model, the relationship between several independent or
predictor variables and the dependent variable was analyzed using standard SPSS
output, including charts, tables and tests.
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