INDUSTRY MARKET RESEARCH FOR BUSINESS LEADERS, STRATEGISTS, DECISION MAKERS CLICK TO VIEW
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Flavors & Fragrances
US Industry Study with Forecasts for 2012 & 2017
Study #2461 | January 2009 | $4700 | 264 pages
The Freedonia Group 767 Beta Drive www.freedoniagroup.com Cleveland, OH • 44143-2326 • USA Toll Free US Tel: 800.927.5900 or +1 440.684.9600 Fax: +1 440.646.0484 E-mail: [email protected] Study #2461 January 2009 Flavors & Fragrances $4700 264 Pages US Industry Study with Forecasts for 2012 & 2017
Table of Contents
Executive Summary Beverages...... 95 Research & Development...... 179 Industry Overview...... 96 Natural Flavors & Fragrances...... 182 Market EnvironmenT Flavor Demand...... 98 Biotechnology...... 183 Carbonated Soft Drinks...... 101 Delivery Systems...... 184 General...... 4 Other Beverages...... 103 Production Methods...... 187 Macroeconomic Outlook...... 5 Other Markets...... 107 Marketing & Distribution...... 189 Demographic Trends...... 9 Personal Consumption Expenditures...... 12 PRODUCTS Company Profiles Historical Market Trends...... 14 Pricing Patterns...... 17 General...... 110 Agilex Flavors & Fragrances...... 192 Environmental & Regulatory Issues...... 20 Flavor Blends...... 112 Aromatech France...... 194 Flavors...... 21 Fruity...... 116 BASF SE...... 195 Fragrances...... 22 Savory...... 117 Bedoukian Research...... 197 International Activity...... 24 Cheese & Other Dairy...... 118 Bell Flavors & Fragrances...... 198 Foreign Trade...... 26 Meat...... 120 Belmay Incorporated...... 200 Imports...... 27 Other Flavor Blends...... 121 Cargill Incorporated...... 201 Exports...... 28 Fragrance Blends...... 122 Comax Flavors...... 202 Product Characteristics...... 125 ConAgra Food...... 203 MARKETS New Applications...... 126 Firmenich SA...... 205 Essential Oils & Natural Extracts...... 127 Flavorchem Corporation...... 208 General...... 30 Citrus Oils...... 129 FRA Fragrance Resources Agency...... 209 Food...... 34 Lemon Oil...... 132 Givaudan SA...... 210 Industry Overview...... 34 Orange Oil...... 134 Hasegawa (T.) Company...... 216 Flavor Demand...... 36 Other Citrus Oils...... 136 ICC Industries...... 217 Processed Food...... 39 Mint Oils...... 138 International Flavors & Fragrances...... 220 Bakery Products...... 42 Peppermint Oil...... 140 Kao Corporation...... 224 Dairy Products...... 44 Spearmint & Other Mint Oils...... 142 Kerry Group...... 226 Candy & Confectioneries...... 47 Other Essential Oils LyondellBasell Industries...... 228 Other Food...... 49 & Natural Extracts...... 145 Mane (V.) Fils...... 230 Cosmetics & Toiletries...... 52 Aroma Chemicals...... 148 McCormick & Company...... 231 Industry Overview...... 53 Demand by Class...... 150 Michael (David) & Company...... 233 Flavor & Fragrance Demand...... 56 Synthetic...... 151 Naturex SA...... 235 Perfumes & Colognes...... 61 Natural...... 153 Polarome International...... 236 Skin Care Products...... 64 Demand by Type...... 154 Rhodia SA...... 238 Soaps & Body Washes...... 67 Terpenoids...... 154 Robertet SA...... 240 Other Cosmetics & Toiletries...... 69 Benzenoids...... 156 Royal DSM...... 242 Cleaning Products...... 72 Musks & Other Aroma Chemicals...... 157 Sensient Technologies...... 243 Industry Overview...... 73 Symrise AG...... 246 Fragrance Demand...... 74 INDUSTRY STRUCTURE Takasago International...... 250 Laundry Detergents...... 76 Todd (AM) Company...... 252 Polishes & Sanitation Goods...... 79 General...... 158 Treatt (RC) plc...... 253 Dishwashing Detergents Market Share...... 163 Ungerer & Company...... 255 & Other Cleaners...... 82 Mergers & Acquisitions...... 168 Vigon International...... 256 Environmental Fragrance Goods...... 84 Competitive Strategies...... 173 WILD (Rudolf)...... 258 Industry Overview...... 85 Product Differentiation...... 173 Yule Catto...... 260 Fragrance Demand...... 88 Market Segmentation...... 174 Additional Companies Air Fresheners & Deodorizers...... 89 Cooperative Agreements...... 175 Mentioned in the Study...... 262 Candles...... 91 Potpourri & Other Environmental Fragrance Goods...... 94
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List of Tables/Charts
Executive Summary 9 Cosmetic & Toiletry PRODUCTS Shipments...... 56 1 Summary Table...... 3 1 Flavor & Fragrance Demand 10 Cosmetics & Toiletries: Flavor by Product...... 111 & Fragrance Demand...... 61 Market EnvironmenT Cht Flavor & Fragrance Demand 11 Perfumes & Colognes: by Product, 2007...... 112 1 Macroeconomic Indicators...... 9 Fragrance Demand...... 64 2 Flavor Blend Demand...... 115 2 Population & Households...... 12 12 Skin Care Products: Cht Flavor Blend Demand 3 Personal Consumption Fragrance Demand...... 67 by Type, 2007...... 116 Expenditures...... 14 13 Soaps & Body Washes: 3 Fragrance Blend Demand...... 125 4 Flavor & Fragrance Market, Fragrance Demand...... 69 4 Essential Oil & Natural 1997-2007...... 16 14 Other Cosmetics & Toiletries: Extract Demand...... 129 Cht Flavor & Fragrance Market, Flavor & Fragrance Demand..72 5 Citrus Oil Demand...... 131 1997-2007...... 17 15 Cleaning Product Shipments...74 6 Lemon Oil Demand...... 134 5 Flavor & Fragrance Pricing.....20 16 Cleaning Products: 7 Orange Oil Demand...... 136 Cht World Flavor & Fragrance Fragrance Demand...... 76 8 Other Citrus Oil Demand...... 138 Demand, 2007...... 26 17 Laundry Detergents: 9 Mint Oil Demand...... 140 6 Flavor & Fragrance Fragrance Demand...... 79 10 Peppermint Oil Demand...... 142 Supply & Demand...... 27 18 Polishes & Sanitation Goods: 11 Spearmint & Other Cht US Flavor & Fragrance Fragrance Demand...... 81 Mint Oil Demand...... 145 Imports by Origin, 2007...... 28 19 Dishwashing Detergents 12 Other Essential Oil & Cht US Flavor & Fragrance Exports & Other Cleaners: Natural Extract Demand..... 148 by Destination, 2007...... 29 Fragrance Demand...... 84 13 Aroma Chemical Demand...... 150 20 Environmental Fragrance 14 Synthetic Aroma MARKETS Goods Indicators...... 87 Chemical Demand...... 152 21 Environmental Fragrance 1 Flavor & Fragrance 15 Natural Aroma Goods: Fragrance Demand....89 Demand by Market...... 33 Chemical Demand...... 154 Cht Flavor & Fragrance Demand 22 Air Fresheners & Deodorizers: Fragrance Demand...... 91 by Market, 2007...... 33 INDUSTRY STRUCTURE 2 Food Shipments...... 36 23 Candles: Fragrance Demand....93 3 Food: Flavor Demand...... 39 24 Potpourri & Other 1 US Flavor & Fragrance Sales 4 Processed Food: Environmental by Company, 2007...... 160 Flavor Demand...... 42 Fragrance Goods: Cht US Flavor & Fragrance Sales 5 Bakery Products: Fragrance Demand...... 95 by Company, 2007...... 163 Flavor Demand...... 44 25 Beverage Shipments...... 98 2 Selected Acquisitions 6 Dairy Products: 26 Beverages: Flavor Demand.... 101 & Divestitures...... 171 Flavor Demand...... 47 27 Carbonated Soft Drinks: 3 Selected Cooperative 7 Candy & Confectioneries: Flavor Demand...... 103 Agreements...... 178 Flavor Demand...... 49 28 Other Beverages: 4 R&D Spending Patterns: 8 Other Food: Flavor Demand....52 Flavor Demand...... 107 Selected Flavor & 29 Other Markets: Flavor & Fragrance Suppliers...... 181 Fragrance Demand...... 109
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Gains will be driven by consumer interest in costlier natural and value-added ingredients, and growth in the addition of active ingredients with unpleasant tastes and aromas that require masking.
US demand to grow 3.7% annually through 2012 Food US Flavor & Fragrance Demand 36% ($5.3 billion, 2012) Demand for flavors and fragrances in the US is forecast to grow 3.7 percent per year through 2012. Increasing consumer interest in natural ingredients, which are generally more expensive than their synthetic counterparts, will support value Cosmetics & Toiletries gains. Also, trends toward more complex 27% and exotic flavors and scents will boost demand for new flavor and fragrance blends. Growth in fortified food, nutra- Cleaning Products ceutically enriched beverages and 12% cosmeceuticals such as anti-aging Environmental creams will provide opportunities for Fragrance Goods 11% flavors and fragrances that enhance the Beverages & Other sensory appeal of these products while Markets 14% masking the unpleasant taste and aroma of vitamins, minerals, bleaches, antioxi- dants and other active ingredients. maturity in the large bar soap segment. will spur demand for fragrances. Increas- Cosmetic & toiletry, Nevertheless, demand will be supported ingly, these products are not only being environmental fragrance by the incorporation of value-added used to mask unpleasant smells, but ingredients, including antibacterial also to create a certain ambiance markets to grow fastest agents which require fragrances to mask through scent and provide additional Through 2012, the cosmetic and toiletry unpleasant odors. Furthermore, fra- benefits, such as stress relief, relaxation market will continue to record the most grances will continue to play an impor- or energy boosting. rapid advances. Skin care products are tant role in product differentiation, aiding expected to provide strong opportunities demand growth. Despite relatively slow growth, food will for growth, reflecting expansion of the remain the largest market for flavors and skin care industry itself, as middle-aged Environmental fragrance goods will also fragrances, based on the widespread baby boomers and older adults seek experience healthy gains through 2012, applications. The further expansion of anti-aging products and manufacturers driven by advances in aromatherapy and fortified food -- as well as beverages -- continue to target growth segments with household applications, as well as will provide opportunities, since flavors products designed for use by men, consumer desires for more sophisticated are often used to cover up the off-tastes teenagers and infants. In contrast, fragrance combinations. Candles and a of vitamins, minerals, antioxidants and demand for fragrances in soaps and host of innovative air freshener products other added ingredients. Although body washes is expected to increase designed to control offensive odors or beverage flavor demand will grow slowly, more slowly than the rest of the cosmetic simply provide a pleasant smell in the good opportunities remain in sports and and toiletry market, restrained by market home and other living and working areas other specialty drink markets.
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Sample Text, TABLE IV-9 Table & Chart MINT OIL DEMAND (million dollars)
Item 1997 2002 2007 2012 2017
Resident Population (million) 273 288 302 317 332 $ mint oil/capita 0.48 0.53 0.61 0.71 0.81
products Mint Oil Demand 131 152 185 225 270 By Type: Meat Peppermint Oil 61 73 93 117 142 Demand for meat flavor blends is forecast to increase 5.5 percent Spearmint & Other Mint Oils 70 s 79 am 92 ple 108 128 yearly to $150 million in 2012, spurred by the growing popularity Byof Market: meat-flavored snacks and prepared entrees. The convenience of value- Food 45 54 tab 67 le 82 101 addedsam productsple will also help to expand the customer base and support Cosmetics & Toiletries 13 18 24 33 44 gains in meat flavors. In addition, the trend towards lower-fat food will Other 73 80 94 110 125 boost loadingstext for meat flavorings, which impart more flavor without in - creasing fat. Novel applications will also contribute to gains. However, % mint oils 31.2 29.3 27.0 25.6 23.7 further advances will be moderated by a shift away from more flavor-inEssential- Oil & Natural Extract Demand 420 519 685 880 1140 tense emulsion meats (e.g., deli meats and hot dogs) toward leaner, fresh cuts of meat (especially poultry). In addition, the growing consumer in- terest in vegetarian and vegan diets will limit gains somewhat for natural meat flavorings.
Meat flavorings are used in a wide variety of food products, in- cluding ready-to-eat and convenience foodstuffs, snack food and meat analogs. The use of meat flavor in convenience food allows the manu- facturer to achieve better control of flavor development and distribution. For example, while most of the flavor of meat is at the surface, added meat flavor allows uniform taste dispersion throughout the product.
Snack food represents a high growth market for meat flavors, with consumption of products such as pork rinds, beef jerky and hot snacks benefitting from the popularity of high-protein diets and a resurgence of consumer interest in heartier meat flavors. In addition, meat-flavored snacks offer an alternative to consumers seeking healthier snacks which are more filling than chips but offer the convenience of single serve por- CHART V-1 tions, no refrigeration and minimal (or no) preparation time. US FLAVOR & FRAGRANCE SALES BY COMPANY, 2007 Meat flavor is also a key ingredient in meat analogs, which repre- ($4.4 billion) sent a small but growing market, spurred by the purported health benefits of soy-based products and the increasing popularity of a vegetarian
120 Copyright 2009 The Freedonia Group, Inc. 19% Givaudan
Market Others sample 12% IFF Leaders 46% 54% chart 10% Firmenich
7% Sensient
6% Symrise
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Sample Profile, TABLE III-10 Table & Forecast COSMETICS & TOILETRIES: FLAVOR & FRAGRANCE DEMAND (million dollars) Item 1997 2002 2007 2012 2017
Cosmetic & Toiletry Shpts (bil $) 25.2 30.9 37.7 46.2 56.6 $ F&F/000$ cosmetics & toiletries 28.2 29.2 30.0 30.6 31.6
Cosmetic & Toiletry F&F Demand 711 903 1130 1415 1790 Perfumes & Colognes 277 315 410 505 630 Skin Care Products 149 s 218 am 270 ple 350 455 Soaps & Body Washes 171 213 250 305 375 Other 114 157 tab 200 le 255 330
% cosmetics & toiletries 22.9 25.2 25.7 26.9 28.4 COMPANY PROFILES Total Flavor & Fragrance Demand 3100 3580 4400 5270 6300
Belmay Incorporated 200 Corporate Boulevard South Yonkers, NY 10701 914-376-1515 http://www.belmay.com
Annual Sales: $80 million (estimated) Employment: 360 (estimated)
Key Products: fragrancessam for personalple care, home care, air care and fine fragrance applicationsprofile “Demand for fragrances in perfumes Belmay is a privately held producer of fragrances for personal and colognes is expected to increase care, home care, air care and fine fragrance applications. The Company 4.3 percent per year to $505 million operates manufacturing facilities in the US and the United Kingdom in 2012. The increasing popularity (UK) and maintains sales subsidiaries and offices in the US, Canada, of aromatherapy and aromachology, Mexico, Brazil, Poland, Russia, Turkey, Hong Kong, China, the Philip- pines, Thailand, Vietnam, India and South Africa. which promote the use of scents to alter moods, will continue to support The Company is engaged in the formulation, production and sale growth. Consumer interest in more of a wide variety of multipurpose fragrances. For the personal care complex and long-lasting -- and thus market, Belmay makes fragrances for use in shower gels, creams, soaps more expensive -- fragrances offering and other items. These fragrances include blends of woody, bergamot, citrus, rose petal, jasmine, vanilla, sandalwood and patchouli scents. richer and more enduring scent profiles The Company manufactures fragrances for such home care products as will also aid demand. In addition, ...” household cleaning agents, detergents and fabric conditioners. Belmay --Section III, pg. 61 serves the air care market via the development and manufacture of fragrances for spray air fresheners, plug-in air fresheners, reed diffus- ers and related products. The Company also offers ODOURFOYL, a unique fragrance design system that effectively renders malodors undetectable. ODOURFOYL can be used in a variety of air care, home
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