Irving, TX, September 07, 2013 --(PR.com
)-- The global flavor and fragrance market is on the threshold of enormous growth. The global flavor and fragrance market witnessed moderate growth during last five years. According to market forecasts, the flavor and fragrance market is expected to reach $2,060 million by 2018 with a good growth rate over the next five years. North America and Europe were the largest regions in terms of consumption of flavor and fragrance, followed by APAC and ROW.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on this market and presents its findings in "Global Flavor and Fragrance Market 2013-2018: Trend, Forecast, and Opportunity Analysis.” This study provides a concise overview of the global flavor and fragrance market in terms of value and projected annual growth.
Lucintel discusses the various challenges and opportunities faced by the global flavor and fragrance market.The market has been impacted by increasing prices of raw materials needed for flavor and fragrance products, though it is possible to pass on the effect of price rise to the end user. Also, there is limited availability of substitute for the raw materials.
Lucintel's study encompasses the major drivers. Consumers have high disposable income, trendy lifestyle, and being more adventurous in trying out new flavors are all adding to the boom of this market. People are also becoming more conscious of their image and this is leading to higher consumption of fragrances.
This report highlights different aspects of the global flavor and fragrance market. Due diligence has been given to the current market scenario. North America is the current leader in the consumption of flavor and fragrances after replacing Europe; however, in Asia, China and India are growing fast.
The global flavor and fragrance market is expected to grow impressively in near future. The top players need to formulate effective marketing strategies to take advantage of the opportunities, resulting in improved revenue and profitability.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at email@example.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com