US outlook for Flavors & Fragrances with forecasts to 2005 and 2010

New study finds:

• Demand for flavors and fragrances in the US is forecast to grow 4.6 percent per annum (including price increases) to $5 billion in 2005

• Essential oils will record the fastest growth, with increases spurred by customer preferences for natural ingredients in food, beverage and personal care products

• Six companies -- International Flavors & Fragrances, Givauden, Quest (Imperial Chemical Industries), Haarmann & Reimer (Bayer), Firmenich and Sensient -- controlled more than half of the total US market in 2000 Freedonia Industry Study #1481 Study Publication Date: October 2001 Price: $3,700 Flavors & Fragrances Pages: 237

Flavors & Fragrances, a new study from The Freedonia Group, provides you with an in-depth analysis of major trends in the industry and the outlook for product seg- ments and major markets -- critical information to help you with strategic planning.

This brochure gives you an indication of the scope, depth and value of Freedonia's new study, Flavors & Fragrances. Ordering information is included on the back page of the brochure.

Brochure Table of Contents

Study Highlights ...... 2 Table of Contents and List of Tables and Charts ...... 4 Sample Pages and Sample Tables from: Market Environment ...... 6 Products ...... 7 Markets...... 8 Industry Structure ...... 9 Company Profiles ...... 10 List of Companies Profiled ...... 11 Forecasting Methodology ...... 12 About the Company ...... 13 Advantages of Freedonia Reports ...... 13 About Our Customers ...... 14 Other Titles From Freedonia ...... 15 Ordering Information...... 16 Study Highlights

• Demand for flavors and fragrances in the US is forecast to grow 4.6 percent per annum (including price increases) to $5 billion in 2005.

• Flavor blends will remain the largest segment of the flavors and fragrances market, with 36 percent of total demand in 2005. Fragrance blends are expected to post faster gains and nearly overtake flavor blends by 2005 due to strong growth in skin care cosmeceuticals and other cosmetic and toiletry applications.

• Essential oils will record the fastest growth, with increases spurred by customer preferences for natural ingredients in food, beverage and personal care products.

• Alternative beverages, including soy-based, nutraceutical, energy and other New Age drinks, represent the fastest growth market for flavors, spurred by the constant quest for new and innovative flavors, and the need for elevated flavor levels to mask the unpleasant taste of botanical and other additives.

• Six companies -- International Flavors & Fragrances, Givauden, Quest (Imperial Chemical Industries), Haarmann & Reimer (Bayer), Firmenich and Sensient -- controlled more than half of the total US market in 2000. * Flavor enhancers, artificial and natural sweeteners and spices are not included in the scope of this study.

Flavors & Fragrances #1481 Freedonia Industry Study 2 Study Highlights US Flavors & Fragrances Demand, 2000

Flavor Blends 36.4%

Fragrance Blends Essential Oils 34.5% 13.6%

Aroma Chemicals 15.5%

US Flavors & Fragrances Demand (million dollars) % Annual Growth Item 1995 2000 2005 2010 00/95 05/00

US Resident Population (mil) 266.2 282.3 298.8 315.4 1.2 1.1 lbs F&F/capita 1.01 1.13 1.22 1.30 -- -- SUMMARY TABLE Flavors & Fragrances (mil lb) 270 320 365 410 3.5 2.7 $/lb 11.34 12.44 13.68 15.17 1.9 1.9

Flavors & Fragrances Demand 3063 3980 4995 6220 5.4 4.6 Flavor Blends 1170 1450 1775 2160 4.4 4.1 Fragrance Blends 980 1375 1765 2225 7.0 5.1 Aroma Chemicals 495 615 755 925 4.4 4.2 Essential Oils 418 540 700 910 5.3 5.3

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Flavors & Fragrances #1481 Order form on last page 3 List of Contents, Industry Overview ...... 30 Table - Food Shipments ...... 32 Tables and Charts Flavor Demand ...... 33 Table - Food: Flavor Demand ...... 34 Processed Foods ...... 35 Table - Processed Foods: Flavor Demand ...... 37 Bakery Products ...... 37 I. EXECUTIVE SUMMARY Table - Bakery Products: Flavor Demand ...... 39 Summary Table ...... 3 Dairy Products ...... 39 Table - Dairy Products: Flavor Demand ...... 41 II. MARKET ENVIRONMENT Candy & Confectionery ...... 41 General ...... 4 Table - Candy & Confectionery Products: Macroeconomic Outlook ...... 4 Flavor Demand ...... 43 Table - Macroeconomic Indicators ...... 7 Other Foods ...... 43 Consumer Spending Outlook ...... 7 Table - Other Foods: Flavor Demand ...... 45 Table - Consumer Expenditures & Income ...... 9 Cosmetics & Toiletries ...... 46 Demographics ...... 9 Industry Overview ...... 46 Table - Population & Households ...... 11 Table - Cosmetics & Toiletries Shipments ...... 48 Pricing Issues ...... 11 Flavor & Fragrance Demand ...... 49 Table - Flavors & Fragrances Pricing Trends ...... 13 Table - Cosmetics & Toiletries: Environmental & Regulatory Considerations ...... 14 Flavor & Fragrance Demand ...... 50 Technology ...... 16 Perfumes & Colognes ...... 50 International Activity ...... 19 Table - Perfume & Cologne: Fragrance Demand ... 52 Foreign Trade ...... 20 Skin Care Products ...... 53 Table - US Flavor & Fragrance Supply & Demand ...... 22 Table - Skin Care Products: Fragrance Demand ..... 55 Exports ...... 22 Other ...... 55 Chart - US Flavor & Fragrance Exports Table - Other Cosmetics & Toiletries: by Destination, 2000 ...... 23 Flavor & Fragrance Demand ...... 57 Imports ...... 23 Soaps & Detergents ...... 57 Chart - US Flavor & Fragrance Imports Industry Overview ...... 58 by Origin, 2000 ...... 25 Table - Soaps & Detergents Shipments ...... 60 Fragrance Demand ...... 61 III FLAVORS & FRAGRANCES BY MARKET Table - Soaps & Detergents: Fragrance Demand ...... 62 General ...... 26 Laundry Detergents ...... 63 Table - Flavor & Fragrance Demand by Market ...... 28 Table - Laundry Detergents: Fragrance Demand ... 65 Chart - Flavor & Fragrance Demand by Market, 2000 ... 28 Personal Soaps ...... 65 Food ...... 29 Table - Personal Soaps: Fragrance Demand ...... 67

Flavors & Fragrances #1481 Freedonia Industry Study 4 Dishwashing Detergents & Other Cleaners ...... 68 Table - Fragrance Blends Demand ...... 106 Table - Dishwashing Detergents & Other Cleaners: Aroma Chemicals ...... 106 Fragrance Demand ...... 70 Table - Aroma Chemicals Demand by Class & Type .. 110 Beverages ...... 70 Terpenoids ...... 110 Industry Overview ...... 71 Benzenoids ...... 112 Table - Beverage Shipments ...... 73 Musks & Others ...... 114 Flavor Demand ...... 74 Essential Oils ...... 115 Table - Beverages: Flavor Demand ...... 75 Table - Essential Oils Demand ...... 117 Soft Drinks ...... 75 Lemon Oil ...... 117 Table - Soft Drinks: Flavor Demand ...... 76 Table - Lemon Oil Demand by Market ...... 119 Other Beverages ...... 76 Peppermint Oil ...... 120 Table - Other Beverages: Flavor Demand ...... 79 Table - Peppermint Oil Demand by Market ...... 122 Polishes & Sanitation Goods ...... 79 Orange Oil ...... 122 Industry Overview ...... 80 Table - Orange Oil Demand by Market ...... 124 Table - Polish & Sanitation Goods Shipments ...... 81 Spearmint Oil ...... 124 Fragrance Demand ...... 82 Table - Spearmint Oil Demand by Market ...... 126 Table - Polishes & Sanitation Goods: Other ...... 127 Fragrance Demand ...... 83 Table - Other Essential Oils Demand by Market ..... 129 Other Markets ...... 83 Industry Overview ...... 84 V. INDUSTRY STRUCTURE Table - Other Market Indicators ...... 87 General ...... 130 Flavor & Fragrance Demand ...... 87 Table - US Flavors & Fragrances Sales Table - Other Markets: Flavor & Fragrance Demand ... 90 by Company, 2000 ...... 132 Market Share ...... 133 IV. FLAVORS & FRAGRANCES BY TYPE Chart - Flavors & Fragrances Suppliers’ General ...... 91 Market Share, 2000 ...... 133 Table - Flavor & Fragrance Demand by Type ...... 93 Merger & Acquisition Activity ...... 136 Chart - Flavor & Fragrance Demand Table - Selected Acquisitions & Divestitures ...... 138 by Type, 1995-2005 ...... 93 Competitive Strategies ...... 140 Flavor Blends ...... 94 Product Differentiation & Market Segmentation ...... 141 Table - Flavor Blends Demand ...... 96 Research & Development ...... 142 Savory ...... 97 Cooperative Agreements ...... 144 Fruity ...... 98 Table - Selected Cooperative Agreements ...... 146 Cheese & Other Dairy ...... 100 Production Methods ...... 146 Meat ...... 101 Biotechnology ...... 148 Other ...... 103 Delivery Systems ...... 150 Fragrance Blends ...... 104 Marketing & Distribution Channels ...... 151 Company Profiles ...... 153-237

Flavors & Fragrances #1481 Order form on last page 5 Market Environment

The Market Environment Section discusses factors influencing flavor and fragrance demand, including

consumer spending and demographic MARKET ENVIRONMENT trends.

Foreign Trade This information provides you with an understanding and an analysis of the Foreign trade plays a key role in the US flavors and fragrances sector, with imports and exports accounting for a significant portion of demand and climate in which the flavors and production, respectively. SAMPLEWhile the US dependsPAGE heavily on imports for many fragrances industry operates. essential oils, the country enjoys an overall positive trade balance in flavors and fragrances due to its strengths in blends, aroma chemicals, and citrus and mint oils. Despite a significant slowdown in export activity, hurt by the financial crisis in key developing markets in the late 1990s and a strong US dollar, US exports still exceeded imports by more than $390 million in the year 2000. This surplus is expected to expand, reaching $565 million in 2005, as major US flavors and fragrances companies focus their attention on capturing market opportunities overseas in order to generate higher revenues, and growth in important Asian and Latin American markets rebounds. However, export growth will be moderated by the establishment of more offshore operations to be closer to local demand.

The US is the largest producer of flavors and fragrances worldwide, accounting for nearly 30 percent of the total in 2000. Blends represent some 70 percent of output value with about one-fifth of production going to exports. The US is also an important producer of aroma chemicals and essential oils. For example, the country has significant positions in terpene-based aroma chemicals and citrus and mint oils.

The US is dependent on imports for specialized aroma chemicals, such as diphenyl oxide (a synthetic geranium aroma) and heliotropin (a floral fragrance), and many essential oils including ylang-ylang, sassafras and cassia. Although imports of the rarer essential oils are minor compared with the more common citrus oils and specialized aroma chemicals, such imports are significant in that

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Flavors & Fragrances #1481 Freedonia Industry Study 6 Products

PRODUCTS

The Products Section provides demand Spearmint Oil for historical years and forecasts growth to 2005 and 2010. Demand for spearmint oil is projected to rise 3.7 percent annually, reaching a value of $12 million in 2005. Gains will be restrained by an oversupply in the market and a SAMPLEweak pricing environment PAGE due to increases in low-cost imported oil This information helps you: from Canada, China and India. Spearmint oil also faces growing competition from synthetic alternatives. Nevertheless, advances will be supported by the popularity of mint flavored breath fresheners, chewing gums and oral care products which • Analyze your company's value the oil’s fresh, clean taste. growth potential in Spearmint oil is used both alone and in combination with peppermint oil in oral the industry. care items such as toothpaste, mouthwash, dental rinses and dental floss; in candies and confections, including gums and breath fresheners; and in skin care and • Outline your strategic pharmaceutical preparations. Spearmint oil typically is used in products requiring a milder taste or fragrance than peppermint oil, such as mint-flavored teas, ice plans for five and ten cream and bakery products. Spearmint oil can serve as a source of menthol, years out. although its smaller supply relative to peppermint oil limits its participation in the menthol market.

• Establish sales goals. The US is the largest producer of spearmint oil worldwide, with the Pacific Northwest accounting for most production. Production in the far western states is controlled by a growers’ allotment program designed to prevent oversupplies and extreme price swings. Each year, the marketing order committee (composed of Aroma Chemicals Demand by Class & Type growers) issues a marketing order, based on estimates of future demand and current (million dollars) inventory, limiting the salable percentage of oil from each crop year so as to Item assure a profitable market1990 price. As 1995 the price of 2000 spearmint 2005 oil has declined 2010 due to import competition, spearmint oil acreage in the Far West has declined. Growers Food, Beverage, Chemin Shptsthe Midwest (bil $) are not subject 592 to the 697marketing773 order, and 903 production1063 there is not $ aroma chem/000$limited. food,bev,chem Spearmint oil produced 0.61 in the 0.71 Midwest 0.80 is generally 0.84 considered 0.87 to be premium oil, and commands a higher price SAMPLEthan oil produced TABLE in other locations. Aroma Chemicals DemandAlso, of the different varieties 360 grown 495in the US, 615 Scotch spearmint 755 oil 925 has a more By Class: Synthetic 305 415 505 605 720 Natural 55 80 110 150 205 By Type: Terpenoids 190 255 307 365 431 Benzenoids 105 145 177 215 260 Musks & Others 65 95 131 175 234

% aroma chemicals 15.8 16.2 15.5 15.1 14.9 Total Flavors & Fragrances 2280 3063 3980 4995 6220

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Flavors & Fragrances #1481 Order form on last page 7 Markets

The Markets Section analyzes trends and considers the threats and opportunities in each of the major markets for flavors and

fragrances. MARKETS

The information presented will Dishwashing Detergents & Other Cleaners help you: Demand for fragrances in dishwashing detergents and other cleaning products is • Focus your sales and marketing projected to advance 4.8 percent yearly to $148 million in 2005. Growth will be efforts on high growth areas. spurred by theSAMPLE introduction ofPAGE new and improved products which offer greater cleaning power while also making the dishwashing experience more pleasant by providing an appealing olfactory sensation. Development of products requiring • Propose new areas for development. higher fragrance loadings, including dishwashing detergents with bleach and enzymes, concentrated household cleaners and products with bleach will also boost demand. Further advances will be moderated by the maturity of the hand dishwashing market and competitive pricing pressures in a market where many household cleaning products are considered commodities.

Manufacturers of dishwashing detergents and other cleaners are increasingly stressing fragrance appeal and antibacterial or disinfectant properties -- two trends which are expected to increase demand for fragrance materials. Consumers now want scents that not only signal functionality, but are also pleasant and enhance the environment in which they are used. At the same time, consumers are often fickle in their fragrance preferences, easily tiring of one and switching to another. Candy & Confectionery Products:Therefore, Flavor an emerging Demand trend among manufacturers of dishwashing detergents and (million dollars) cleaners is the introduction of multiple fragrance variations of a product, in which only the fragrance (and possibly color) differ; thereby providing several fragrance Item choices for1990 consumers. 1995 For example, 2000 at 2005the turn of 2010 the decade, Colgate-Palmolive expanded its PALMOLIVE SPRING SENSATIONS hand dishwashing liquid Candy & Confectionery Shpts (bil $)offerings to21.3 include three 25.2 scents: 28.9 Botanical 33.8 Blend, Spring 39.6 Blossom and Ocean $ flavor/000$ confectioneryBreeze. 6.2 6.4 6.7 6.9 7.1 SAMPLE TABLE Candy & Confectionery Flavor Demand 132 161 195 234 283 Flavor BlendsWith the inclusion 92 of 112 enzymes, 133bleach and 158 other malodorous 187 additives in auto- Essential Oilsmatic dishwashing 33 detergents, 41 fragrance 51 loadings 64 have 81 increased in these products Other 7 8 11 12 15 © Copyright by The Freedonia Group, Inc. % candy & confectionery 16.1 13.5 13.3 12.9 12.8 Food Flavor Demand 822 1190 1470 1810 2215

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Flavors & Fragrances #1481 Freedonia Industry Study 8 Industry Structure Sample page from Freedonia Industry Study

Gain#1117 a better Fractional understanding Horsepower of your Motors competition and analyze your company's position in the industry with information about:

• market share INDUSTRY STRUCTURE

• merger & acquisition activity Biotechnology

While still in the formative stages, the application of biotechnology to the flavors • competitive strategies and fragrances industry holds considerable promise in the development of new products. Major players are racing to commercialize aroma chemical production • product differentiation via fermentation. In general, however, applications of biotechnology, and use of genetically modified organisms in particular, are being approached cautiously due • market segmentation to public perception issues. Fragrance companies, in particular, have displayed great reluctance to incorporate substances derived from biotechnology due to consumer acceptance concerns. • research & development SAMPLE PAGE Techniques of biotechnology have already been used to develop new synthetic • cooperative agreements routes to known compounds. For example, Givaudan developed an enzymatic pathway to production of cis-3-hexenol, a natural aroma chemical traditionally derived from mint terpene. Recombinant DNA technology enabled increased • production methods production of one of the necessary enzymes, thereby enabling efficient microbial production. • biotechnology Biotechnology research is being conducted to develop a variety of other bacterial fermentation techniques for flavor and fragrance production. Products which have • delivery systems been developed via biotechnology include diacetyl, benzaldehyde, vanillin and fruit flavors. Diacetyl, which imparts a buttery flavor to a variety of dairy products • marketing & distribution channels including margarine, shortening and sour cream, can be derived via the fermenta- tion of citrates by lactic acid bacteria, although the commercial process of production from methyl ethyl ketone still predominates. Benzaldehyde, a synthetic oil of bitter almond which can also impart cherry flavor, can be produced through the degradation of glucoside precursors as a product of microbial metabo- lism. Bacterial methods of degrading eugenol to vanillin (synthetic vanilla) are of particular interest, given the worldwide shortage of natural vanilla. Most vanilla flavors are synthetic, derived from lignin (a waste product of paper production). Efforts are also directed toward commercialization of a genetically modified

Flavors & Fragrances #1481 Order form on last page 9 Company Profiles

The Profiles Section analyzes 35 companies active in the U.S. flavors and fragrances market. These profiles represent a sampling or cross-section of

the types of companies involved in the COMPANY PROFILES industry. Sensient Technologies Corporation 777 East Wisconsin Avenue Divisions, subsidiaries, joint Milwaukee, WI 53202 ventures, etc., are discussed under 414-271-6755 appropriate parent companies. http://www.sensient-tech.com

Sources for profiles included: Sensient Technologies, formerly Universal Foods Corporation, is a leading manufacturer and distributor of color, flavor and fragrance technologies and products. The Company changed its name in November 2000 to reflect its • Information provided by growing presence in non-foods markets such as cosmetics, inks and household key staff members in the products. Sensient operates in three segments: Color, Flavors and Fragrances, and Corporate and Other. The Company sold a fourth group, the Red Star Yeast & respective companies Products Company, to Lesaffre et Compagnie (France) in February 2001. In 2000, Sensient has revenues of $809 million, of which US million. The Company • Annual reports employed 3,720 in 2000. SAMPLE PAGE Sensient was among the top six suppliers of flavors and fragrances to the US • 10-K reports market, with a six percent market share and sales of $240 million in this market in 2000. Through its Flavors and Fragrances segment, which had 2000 revenues of $489 million, Sensient is a leading manufacturer of flavors, fragrances, dehydrated • Security analysts reports vegetables and other food ingredients designed to impart a desired taste or smell to a wide range of consumer products. The segment’s customers are primarily involved in the packaged food, beverage, and household and personal care products • Corporate product literature industries. Sensient’s strategies for growing the Flavors and Fragrances segment include focusing on customized product development, expansion of its product line, and growth through acquisitions and globalization.

Flavor Operations -- Sensient’s flavor manufacturing operations are primarily conducted through Sensient Flavors Incorporated (Indianapolis, Indiana), formerly

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Flavors & Fragrances #1481 Freedonia Industry Study 10 Companies Profiled BASF AG Jordan Industries Incorporated Bayer AG Aromatech Haarmann & Reimer Corporation Aromatic Technologies Bell Flavors & Fragrances Incorporated Flavorsource Belmay Incorporated International Fragrance and Technology Inc. Chr. Hansen Holding A/S Key Essentials Industrias Cuamex SA de CV Kerry Group plc ConAgra Foods Incorporated Armour Food Ingredients United Specialty Food Ingredients Companies SFI Group Danisco A/S Shade Foods Incorporated Beck Flavors Specialty Food Ingredients Calchauvet Manheimer (J.) Incorporated Cultor Corporation McCormick & Company Incorporated Florida Flavors Incorporated Michael (David) & Company Incorporated DRAGOCO Geberding & Company AG Millennium Chemicals Incorporated DSM NV Noveon Incorporated E.ON AG Polarome International Incorporated Degussa AG Rhodia SA SKW Trostberg AG Xuebao Fine Chemicals Company Firmenich SA Roche Holding Limited Flavorchem Corporation Sensient Technologies Corporation Orchid Laboratories Dr. Marcus Orchidia Universal Foods Spicery Shoppe Takasago International Corporation Fragrance Resources International SA Todd (AM) Group of Companies Givaudan SA SunPure Limited Shanghai Givaudan Limited Zink & Triest Company Goodrich Corporation Ungerer & Company Henkel KGaA WILD (Rudolf) Group Cognis Corporation ICC Industries Incorporated Daniel (HE) Limited Frutarom Imperial Chemical Industries plc Quest International International Flavors & Fragrances Incorporated Bush Boake Allen Laboratoire Monique Remy International Paper Company

Flavors & Fragrances #1481 Order form on last page 11 Forecasting Methodology

Freedonia does not just collect and reprint data; Freedonia develops data. Our analysts thoroughly investigate an industry by extensively interviewing key industry participants and analyzing information from sources such as associations, govern- ment and trade literature. Once this The Freedonia research is complete, Freedonia establishes Economics Group Freedonia one set of forecasts. All writing, editing In-house Research Consistent framework and forecasting is done in-house to assure of economic indicators on . . . • Quantitative forecasting quality and consistency. In cases where • Cosmetic & Toiletry Shipments • Industry structure & market • Resident Population share analyses data does not exist, Freedonia develops the • Gross Domestic Product (GDP) • Product analyses & forecasts data based on input/output ratios, bills of . . . and many others materials and flow charts. The following chart summarizes Freedonia's methodology:

Methodology for Flavors & Fragrances

Proprietary Extensive Interviews Electronic Database • Key participants • Trade publications • Industry experts • Government reports • End-users • Corporate literature • Online databases . . . and many others

Flavors & Fragrances #1481 Freedonia Industry Study 12 The Freedonia Group, Inc. is a leading international industry study/ About database company. The Freedonia Group Since 1985, Freedonia has published over 1,600 titles covering areas such as chemicals, coatings and adhesives, building materials, plastics, industrial components and equipment, health care, packaging, household goods, security, and many other industries.

Freedonia has produced a wide variety of titles, including:

• Cosmeceuticals • Plant-Derived Chemicals • Food & Beverage Additives • Cosmetic & Toiletry Chemicals

Because Freedonia is a reliable information source, our forecasts are cited in numerous publications such as The Wall Street Journal, Chemical Week, Chemical Market Reporter and Chemical & Engineering News.

Advantages In-house operations of Freedonia Reports Because all of our staff work at the same location, interaction between analysts and departments provides a strong system of checks and balances.

Consistency Our Economics Group develops indicators that are used by all analysts. Therefore, every Freedonia study is based on a consistent set of economic assumptions (GDP, cosmetic and toiletry shipments, resident population, etc.)

Reliable forecasts Because all of our forecasts consider the environment in which a product or industry is operating, as well as threats and opportunities to the market, Freedonia forecasts are reliable indicators of future performance.

One-on-one interviews All studies are produced by conducting interviews with key industry participants and end-users.

Proprietary electronic database Freedonia’s analysts can tap into an extensive in-house electronic database containing corporate literature (including private company information), trade publications, government reports and many other sources of information.

Flavors & Fragrances #1481 Order form on last page 13 About Our Customers

Freedonia's clients include major US and international companies in the manufacturing, services, consulting and financial sectors.

Typical purchasers of Freedonia studies :

• Key Executives • Corporate Planners • Market Researchers • Financial Analysts • Information Centers • New Product Developers • Merger & Acquisition Specialists

Since 1985 we have provided research to customers ranging in size from global conglomerates to one person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia research to help with their strategic planning.

Some of Freedonia's customers in the flavors and fragrances market include: Bayer, Givauden, Imperial Chemical Industries, Interna- tional Paper, Rhodia and Sensient.

Flavors & Fragrances #1481 Freedonia Industry Study 14 Cosmeceuticals - Private Companies Report Other Titles The $3 billion US cosmeceuticals industry has private companies active at all levels, with some leading niche markets. For example, one private From Freedonia firm is the second largest supplier of lip care cosmeceuticals. Another is the fourth leading producer of sun protection products. This report World Flavors & Fragrances profiles over 110 private US companies (e.g., World demand for flavors and fragrances will Blistek, Den-Mat, OMP, Stiefel Labs, Tanning grow 5.4% annually to 2004, driven by strong For more information about Research Labs). It also forecasts industry de- gains in developing Latin America and Asia (ex- mand, reviews acquisitions, evaluates market cluding Japan). These areas are experiencing ro- these or other Freedonia titles, share, and lists firms by product and location. bust growth in their food processing and con- please contact us at: #1429...... 5/01...... $3,200 sumer product industries, bolstered by strong in- ternational investment. This study analyzes the US$14 billion world flavor and fragrance indus- The Freedonia Group, Inc. Cosmeceuticals try to 2004 and 2009 by product, market and The US market for cosmeceuticals will grow 7.6% region, and for 17 major countries. It also evalu- Phone: (440) 684-9600 annually to 2005, driven by consumer demands ates market share and profiles key companies. (800) 927-5900 for more effective appearance-enhancing and age- #1372...... 3/01...... $4,300 defying preparations. Skin care will remain the Fax: (440) 646-0484 largest segment while professional products used for facial implants, injections, chemical peels and related procedures grow the fastest. This study Plant-Derived Chemicals - analyzes the $3 billion US cosmeceuticals indus- Private Companies Report try to 2005 and 2010 by product and market. It Most companies in the $2.1 billion US plant-de- also examines market drivers, details market share rived chemicals industry are privately-held niche and profiles key companies. players. No one firm, public or private, controls a #1414...... 4/01...... $3,700 dominant share of the market. Ten private com- panies, however, each have plant-derived chemical Flavors & Fragrances - sales of over $25 million. This report profiles over Private Companies Report 120 companies (e.g., Aloecorp, Buffalo Color, Frutarom Meer, Indene USA, Kalsec, J. One private firm is the third largest supplier in Manheimer, AM Todd, Triarco). The report also this $3.5 billion US industry, with an 11% mar- forecasts industry demand, analyzes acquisitions, ket share in 2000. An additional 20 private pro- and lists firms by product and location. ducers have total corporate sales over $50 mil- #1343...... 10/00...... $3,200 lion, including products other than flavors and fragrances. This report profiles over 150 private US firms (e.g., Bell Flavors & Fragrances, Belmay, Firmenich, J. Manheimer, Noville, AM Food & Beverage Additives Todd Group). It also forecasts industry demand, Food and beverages additives demand in the US reviews acquisition trends, details market share, will grow over 5% annually. Natural additives and lists companies by product and location. will remain a driving force, affecting all segments #1403...... 3/01...... $3,200 including flavors, coloring agents and preserva- tives. The rapid growth of processed and pre- Plant-Derived Chemicals pared foods, which typically contain relatively high additive contents, will also contribute to Demand for plant-derived chemicals in the US demand. This study analyzes the $4 billion US will grow over 7% annually. Growth will be food and beverage additives industry to 2004 and driven by new plant-based pharmaceuticals and 2009 by product and market. It also profiles key gains in the beverage market, where consumers companies and evaluates market shares. are preferring higher natural flavor loadings. Bo- tanical extracts will be the fastest growing seg- #1315...... 9/00...... $3,600 ment, surpassing essential oils as the top product by 2010. This study analyzes the $2 billion US plant-derived chemical industry to 2005 and 2010 by product and market. It also presents market share data and profiles key companies. #1393...... 2/01...... $3,600

Flavors & Fragrances #1481 Order form on last page

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