The new report by Expert Market Research titled, ‘GCC Flavours and Fragrance Market Report and Forecast 2023-2028’, gives an in-depth analysis of the GCC flavours and fragrance market, assessing the flavours market based on its segments like types, form, applications, and major countries and fragrance market based on segments like types, applications, and major countries. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 2.6 Billion
- Forecast CAGR (2023-2028): 6%
The market is being driven by robust demand for natural flavours and fragrance in the region. Owing to rising standards of living, people are increasingly using natural fragrances like oud in perfumes, room fresheners and essential oils, which is a significant factor driving the industry growth. In addition, the demand for exquisite fragrances in cosmetic products as a result of emerging use of personal care products in the region is adding to market growth. Furthermore, owing to the presence of multi-cultural population in major gulf countries including the United Arab Emirates, the demand for varied food flavours for different cuisines is another factor shaping the market growth in the region.
GCC Flavours and Fragrance Industry Definition and Segmentation
Flavours refer to ingredients that are added to consumable items like beverages, bakery products, and other food items to enhance the taste and aroma. Fragrance, on the other hand, refers to a pleasing odour, commonly found in products like perfumes, cosmetics, and detergents.
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The market is broadly categorised into two segments:
- Flavours
- Fragrances
The GCC market for flavours, on the basis of type, can be segmented into:
- Artificial
- Natural
- Nature-Identical
Based on form, the GCC market for flavour can be categorised into:
- Liquid
- Dry
On the basis of application, the GCC market for flavour can be divided into:
- Beverages
- Dairy and Frozen Desserts
- Savouries and Snacks
- Bakery and Confectionary Products
- Others
On the basis of application, the GCC market for fragrance can be bifurcated into:
- Soap and Detergents
- Cosmetics and Toiletries
- Fine Fragrances
- Households Cleaners and Fresheners
- Others
Based on country, the industry can be divided into:
- Saudi Arabia
- United Arab Emirates
- Kuwait
- Qatar
- Bahrain
- Oman
GCC Flavours and Fragrance Market Trends
The GCC market for food and flavours is anticipated to benefit from the flourishing hospitality sector in the region. Owing to developments in the form of infrastructure and foreign investments, there has been a substantial rise in the tourist population in major gulf countries like the United Arab Emirates. This is augmenting the demand for fragrance in products like household cleaners, soaps and detergents, and toiletries to provide an excellent living experience to the tourists. In addition, the flavours segment is also witnessing growth in the requirement for diverse food flavours to cater the demand of its extensive tourist population. In addition, the progress and success of quick service restaurants and fine dine restaurants are pushing the demand for unique flavours, thus providing impetus to the market. Hence, these are some factors driving the market growth in the GCC region.
Key Market Players
The major players in the market are International Flavours & Fragrances Inc., Givaudan SA, Firmenich SA, and Gulf Flavours & Food Ingredients FZCO, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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