Global encapsulated flavors and fragrances market was worth around USD 7.8 billion in 2021 and is estimated to grow to about USD 10.5 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.3 percent over the forecast period. Encapsulated Flavors and Fragrances industry share by Product, Technology, Encapsulation Process, End User and region.
FrequentlyAsked Questions
The growth of the global encapsulated flavors and fragrances market will be boosted by a shift in customer preferences toward handy products, as well as rising disposable income in most developing countries. Moreover, the need for packaged and energy & sports drinks will drive up sales of beverage flavorings, which in turn is estimated to drive the market for encapsulated flavors and fragrances.
According to the Zion Market Research report, the global encapsulated flavors and fragrances market was worth about 7.8 (USD billion) in 2021 and is predicted to grow to around 10.5 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 5.3 percent.
Geographically, North America is projected to hold the maximum share in the global encapsulated flavors and fragrances market during the forecast period. Key factors driving demand for encapsulated flavors and fragrances in North America include the introduction of various encapsulation processes & technologies to improve product quality, demands for ready-to-eat & ready-to-cook food products, and rising consumer health & diet-related trends. Increased consumption of functional foods, along with an increase in health-conscious customers, will boost regional market statistics.
Some of the predominant players that are operating in the global encapsulated flavors and fragrances market include International Flavors and Fragrances (IFF), Ingredion Incorporated, Givaudan, Firmenich Incorporated, Cargill Inc, Tate & Lyle PLC, Symrise AG, Sensient Technologies, Royal DSM, Kerry Group, and others.
The global encapsulated flavors and fragrances market was worth around USD 7.8 billion in 2021 and is estimated to grow to about USD 10.5 billion by 2028.
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