Flavour and Fragrance Market is expected to grow USD 43.9 Bn by 2030
Description According to the Market Statsville Group (MSG), the global flavour and fragrance market size is expected to grow from USD 29.3 billion in 2021 to USD 43.9 billion by 2030 , at a CAGR of 5.2 % from 2022 to 2030 . Personal care is a significant application segment, owing to the increase in demand for deodorants, soaps, creams, talcum powders, perfumes, and hair oils. The rise in demand for car and room fresheners and the increase in popularity of aromatherapy are anticipated to drive the growth of the fragrance ingredients market. The hospitality sector is also experiencing a growth in demand for fragrances to create a pleasant atmosphere. Fragrances are widely approved for industrial use, such as ambiance fragrances for consumer durables and personal care accessories, which was an unexplored category previously. In addition, owing to growth in disposable income, more local consumers, especially young consumers, opt for qu...