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Flavors & Fragrances Market demand with its Developments
Cleaning ‘experience’ to promote fragrance market gains
The cosmetics and toiletries market suffered from slow growth during the recession-impacted 2007-2012 period, during which consumers were less likely to purchase discretionary items such as perfumes and colognes, skin care products, and cosmetics. As growth in this large market accelerates somewhat, fragrance blend demand will post respectable gains -- though still below average -- during the forecast period. Fragrance blend demand in cleaning products will grow the fastest through 2017, driven by innovation. Producers are continuing to promote the notion of a cleaning “experience” -- feeling relaxed, invigorated, or transported -- through fragrance in dishwashing detergents and general purpose cleaners. Similar efforts to promote fragrance based experiences will also support above-average growth in body washes.
Essential oils, natural extracts to benefit from focus on wellness
From 2002 to 2012, consumer interest in natural items -- including beverages, food, cosmetics and toiletries, and even cleaning products -- rose relatively quickly, as rising attention to wellness encouraged some to avoid end products containing artificial flavors or fragrances. This trend is expected to continue, benefitting demand for essential oils and natural extracts as more manufacturers present naturally flavored or scented versions of their retail items. Going forward, demand growth in essential oils and natural extracts for flavor and fragrance applications will be nearly as fast as growth in flavor blends, though from a smaller base. The pace of growth will moderate slightly as price increases slow to a more sustainable pace following recent rapid gains.
Natural, synthetic aromas to register stronger growth
While increases in aroma chemical demand will trail other product types, natural aroma chemical sales will accelerate through 2017 to a near average pace due to their ability to afford a “clean” label in food, beverage, and some cosmetic and toiletry applications. Increases in synthetic aroma chemical demand will also improve, though the pace will remain below average. Synthetic aromas will continue to be the preferred solution in soaps and body washes as well as laundry detergents due to the high volume nature of these markets and the need for low material cost and product consistency.
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