GCC Flavors and Fragrances Market to be Driven by Booming Hospitality Sector During the Forecast Period 2022-2027 – Designer Women
Expert Market Research’s new report titled ‘GCC Flavors and Fragrance Market Report and Forecast 2022-2027’, gives an in-depth analysis of the GCC Flavors and Fragrances market, assessing the flavors market based on its segments such as Types, Form, Applications, and Major Countries and Perfumes Market based on segments such as Types, Applications, and Major Countries. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
- Historical market size (2020): USD 2.6 billion (MEA market for flavors and fragrances)
- Forecast CAGR (2022-2027): 6% (MEA flavors and fragrances market)
The market is driven by strong demand for natural flavors and fragrances in the region. Due to the rising standard of living, people are increasingly using natural scents like oud in perfumes, air fresheners and essential oils, which is an important factor for the growth of the industry. Also, the demand for exquisite fragrances in cosmetics owing to the emerging usage of personal care products in the region is contributing to the growth of the market. Also, owing to the presence of multicultural population in the major Gulf countries including the UAE, the demand for varied food flavors for different cuisines is another factor shaping the market growth in the region.
Industry definition and segmentation
Flavors refer to ingredients that are added to consumable products such as beverages, baked goods, and other food products to enhance taste and aroma. Scent, on the other hand, refers to a pleasant smell, commonly found in products like perfumes, cosmetics, and detergents.
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The market is generally divided into two segments:
The GCC Flavors Market, on the basis of Type, can be segmented into:
- Same as nature
On the basis of form, the GCC market for flavor can be categorized into:
On the basis of application, the GCC market for flavor can be divided into:
- Dairy and frozen desserts
- Savory and Snacks
- Bakery and confectionery products
On the basis of application, the GCC market for fragrances can be divided into:
- Soap and Detergents
- Cosmetics and toiletries
- Fine perfumes
- Household Cleaners and Air Fresheners
Depending on the country, the industry can be divided into:
- Saudi Arabia
- United Arab Emirates
The GCC food and flavor market is expected to benefit from the region’s thriving hospitality sector. Due to developments in the form of infrastructure and foreign investment, there has been a substantial increase in the tourist population in major Gulf countries like the United Arab Emirates. This increases the demand for fragrances in products such as household cleaners, soaps and detergents, and toiletries to provide an excellent life experience for tourists. In addition, the flavor segment is also witnessing a growing need for diverse food flavors to meet the demand of its vast tourist population. Additionally, the advancements and success of quick service restaurants and fine dining restaurants are pushing the demand for unique flavors, thus giving impetus to the market. Hence, these are a few factors driving the growth of the market in the GCC region.
Main market players
The major market players are International Flavors & Fragrances Inc., Givaudan SA, Firmenich SA, and Gulf Flavors & Food Ingredients FZCO, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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