London (PRWEB) September 17, 2013
US demand to approach $7 billion in 2017
Demand for flavors and fragrances in the US is forecast to approach $7 billion in 2017 as the result of favorable wellness, demographic, and macroeconomic trends.
Consumer demand for more flavorful foods, as well as unique high-value flavors, will fortify strong growth in flavor blends, the largest product type.
Demand for fragrance blends will rise at a more modest pace, impacted by slower growth in cosmetic and toiletry shipments and weakness in environmental fragrance goods. Essential oils will rise at an above average pace, reflecting greater consumer preference for natural goods. The same trend will also benefit natural aroma chemicals, though aroma chemicals overall will continue to post only modest advances.
Cleaning ‘experience’ to promote fragrance 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 dish washing 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 relative
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