A slew of flavors and fragrances companies in 2018 are facing an increasingly competitive marketplace. Factors such as incrementing cost of raw materials due to various environmental upheavals, tighter governmental regulations and the growing popularity of the online distribution model, are forcing these companies to reinvent their brands and the global flavors and fragrances market itself, in 2018.
In 2017, flavors and fragrances companies from around the world understood the inevitability of advanced R&D. In 2018, this and the launch of multifunctional flavors and fragrances products in developed as well as developing countries will do the trick. Leading the innovation will be these top 10 flavors and fragrances companies in the global market.
For more information about the global flavors and fragrances market size, top flavors and fragrances companies, and future trends in this market, please check Technavio’s Global Flavors and Fragrances Chemicals Market Report 2018-2022, or download your FREE Global Flavors and Fragrances Chemicals Market Report Sample now!
Top 10 Flavors and Fragrances Companies in the World 2018
Firmenich | HQ: Geneva, Switzerland | Founded: 1895
An innovator and trendsetter in the global flavors and fragrances market, Firmenich employs over 7,000 people across 63 facilities. The company has a knack for strategic acquisitions, including the purchase of the flavors division of Danisco, Agilex Fragrances to target mid-sized customers in North America and Flavourome, a South African company that has helped Firmenich consolidate its presence in Africa. The company specializes in a range of popular flavors and is a world leader in perfumery.
Find out Firmenich’s market share in the global Flavors and Fragrances market
Givaudan | HQ: Vernier, Switzerland | Founded: 1895
Specializing in the production of scents and flavors for the food and beverages market, household goods, grooming and personal care products, and for perfumes, Givaudan chalked out a revenue of CHF 5.1 billion in the 2017-18 fiscal year. This renders it as one of the largest flavors and fragrances companies on the planet. Givaudan’s ‘Innovative Naturals program’ allows the company to affect sustainable agricultural practices by collaborating with the growers directly.
International Flavors & Fragrances | HQ: New York, USA | Founded: 1889
One of the world’s leading flavors and fragrances companies, International Flavors & Fragrances has manufacturing facilities in over 35 countries and raked in a net income of USD 296 million at the end of 2017. The company is a key player when it comes to R&D, innovation, acquisitions and strategic collaborations in the global flavors and fragrances market. Recently, on May 8, 2018, International Flavors & Fragrances acquired Frutarom– itself a major flavors and fragrances brand- for a whopping USD 7.1 billion.
Download related report sample for FREE: Global Fragrance Ingredients Market 2017-2021
Symrise | HQ: Holzminden, Germany | Founded: 2003
A major producer of flavors and fragrances, Symrise raked in sales in excess of €2.903 billion at the end of 2016. The company is a premier member of the European Flavor Association and sports an extensive portfolio inclusive of nutritional additives, perfumery, scents and personal care products. Symrise is a key player in the multifunctional flavors and fragrances market, with Hydrolite® being the signature product that was originally launched 25 years ago. Recently, Symrise launched a nature-derived variant of Hydrolite® as well.
Takasago International Corporation | HQ: Tokyo, Japan | Founded: 1920
Takasago International Corporation has a presence in 24 countries across the world and sports an extensive portfolio comprising of flavors, fragrances, fine chemicals and aroma ingredients. Thereby, Takasago has established tight working relationships with some of the world’s leading manufacturers of food and beverages, perfumes, and personal care products. The company’s signature ‘asymmetric synthesis’ technology has helped it manufacture unique, nature-identical aroma ingredients that has firmly established Takasago amongst the most profitable flavors and fragrances companies in the world.
Mane SA | HQ: France | Founded: 1871
Mane SA is a leading player in the global flavors and fragrances market, with manufacturing and R&D facilities spread across in 38+ countries and a global workforce of 5,500+ people. The company sports an extensive portfolio, including flavors, fragrances and ingredients. Amongst flavor and fragrance companies, Mane is cited as one of the most future-facing, with the company’s vision hinging on the merger of state-of-the-art technologies and absolutely uninhibited creativity.
Robertet Group | HQ: Grasse, France | Founded: 1850
Robertet Group is a privately-owned manufacturer of flavors, perfume additives and ingredients. The company has manufacturing units setup in France, Turkey, South Africa, Madagascar, Brazil, China, Singapore, and the USA, with operational and retail presence in 50+ countries around the world. Especially, Robertet specializes in the design, production and marketing of aromatic products. In 2016, the company achieved the admirable feat of churning out €470 million in sales.
Download related report sample for FREE: Spices and Seasoning Market in the US 2017-2021
Sensient Technologies Corporation | HQ: Wisconsin, USA | Founded: 1882
Previously known as the Universal Foods Corporation, Sensient Technologies is a multidisciplinary producer of colors, flavors and fragrances. Sensient is rightfully counted amongst the largest flavors and fragrances companies in the world, having acquired a number of specialist companies (20 in all) to augment its standing in the flavors and fragrances market. Today, Sensient is positioned as a specialty chemicals company that concentrates on core technologies in the flavors and fragrances domain, while exploring new markets with aggressive marketing strategies.
T. Hasegawa | HQ: Tokyo, Japan | Founded: 1903
T. Hasegawa is a key player in the flavors, fragrances and perfumery markets in the APAC region. An immensely profitable company, T. Hasegawa raked in USD 428.1 million in the 2017-18 fiscal year. In 1978, the company conceded to the strong demand for its products outside the APAC circle and setup T. Hasegawa USA in California. Additionally, T. Hasegawa is noted as a key proponent of sustainability and environmental conservation in the flavors and fragrances market, having adopted its manufacturing procedures to comply with the aforementioned stringent demands.
Huabao International | HQ: Hong Kong | Founded: 1991
Huabao International is majorly involved with the manufacture of flavors, fragrances, tobacco raw materials and ingredients, and is thus counted amongst the largest flavors and fragrances companies in the world. Known for its modern production methodologies and innovative approach to flavors and fragrances, Huabao International is rapidly gaining a staunch customer base in the APAC region and around the world.
Acquisition as an expansion strategy is key in the flavors and fragrances market
In fact, most companies in this segment are either buying or are themselves being absorbed by other entities. International Flavors & Fragrances’ high-profile purchase of Frutarom denotes the former’s intent to gain proficiency in a new market. While, Kentucky, USA, based Wild Flavors’ takeover by the food conglomerate Archer Daniels Midland is representative of the former’s need to allay the competition by merging with an all-encompassing processed food giant. The key here is strategic maneuverability! And, in 2018, the bigger sharks in the global flavors and fragrances market are all set to gobble up the small fry in their quest to dominate upcoming markets like India, China and Brazil.
Download related report sample for FREE: Global Aroma Chemicals Market 2017-2021
What are key trends in the flavors and fragrances market in 2019?
2018 was a revelation for most companies in this competitive market, with a vast number of them netting an increase in sales in excess of 7.7% per their local currencies. This positivity is set to continue for flavors and fragrances companies in 2019. The primary attribution for this is the growing presence for these commodities in developing markets like China, India and Brazil. While multifunctional flavors and fragrances products are already quite popular in developed countries, the sales are likely to pick up in the aforementioned developing markets too, thanks to the improving purchasing power in such markets. In 2019, R&D and the prodigious demand created by upcoming markets will be the headline story for the various international and local flavors and fragrances companies.
Market report featured in this article:
