2013-01-18 13:21:44 - The consumer trends related to health and wellness as well as ageing population together with high disposable income would be the principal growth propellants of the mature flavors & fragrances industry of the US.
The US ranks as one of the top flavors & fragrances markets globally among other markets such as Western Europe and Japan. The US market for flavors and fragrances has expanded consistently over the years, primarily as a result of an increase in demand with an increase in the consumption of array of the consumer products containing flavors and fragrances. The market for flavors and fragrances in the US has been influenced by various macro-factors and consumer trends that have occurred over the years. The growing consumer consciousness for health and wellness is one such important trend which has affected the flavors market positively. The health conscious consumers are now giving more preference to the ‘natural’ graded or labeled products
which includes food products as well as personal care and cosmetic products. This is reflected in the high growth of the organic food and beverage sales in the US which has grown at a CAGR of 11% during 2006-2011. Another important trend which has given thrust to the fragrances industry of the US is the increase in the size of the baby boomer population which is turning old. This has led to high demand of anti-ageing skin care products in the country and therefore propelled demand for fragrances used in these products.
‘The US is the second largest market in the global flavors and fragrances industry, second only to Western Europe and generates around 1/4th of the global revenues. The market has largely been stabilized during last five years and the growth has been sluggish, primarily owing to cut in the consumer spending in wake of feeble economic health of the US.’ – According to the research report ‘The US flavors & fragrances market outlook to 2016 – Ageing Population and Consumer Tendency Towards Natural & Healthy Products Driving the Maturing Market’ from Ken Research.
The minor expansion to be experienced by the US market of flavors & fragrances would principally result from the transitions in the consumer trends related to their goods consumption patterns as well as macro-factors such as growing old population, surging foreign population and relatively high personal disposable income of the population as compared to those in other developing markets in the world
The report provides detailed overview on the flavor and fragrance industry of the US. This report helps reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, food & beverages and consumer goods such as cosmetics & toiletries manufacturing companies, flavor & fragrance manufacturing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.
For more information on the industry research report please refer to the below mentioned link: