The flavor oils market is expected to record a CAGR of 4.6% during the forecast period 2022-2032, up from US$ 3.12 Billion in the year 2022 to reach a valuation of US$ 4.89 Billion by 2032.
| Report Attributes | Details |
| CAGR | 4.6% |
| Value (2022) | US$ 3.12 Billion |
| Value (2032) | US$ 4.89 Billion |
The flavor oils market is anticipated to show promising growth prospects in the forecasted period 2022-2032.
Demand for premium oil-based personal care and cosmetic products is rapidly rising in the cosmetic industry because it adds a long-lasting property to the final products and makes the consumer feel that they are tasting the product.
This results in the shifting of consumers toward flavor oil-based products, this mentioned factor driving the market growth of flavor oil in the forecasted period. Growing penetration of online retailing, working women force, and introduction of the new product range in personal care brands, and the attractiveness of lip-care products are also providing growth to the flavor oil over the forecasted period.
Flavor oils are categories based on nature, such as organic and conventional flavor oil. Hence, the growing trend of organic ingredients in personal care and the food & beverage industry results in a driving factor in the flavor oil market at the global level.
Various cosmetic manufacturers and big brands are diverting towards organic ingredients for the manufacturing of final products for consumers and surging the consumption rate of organic flavor oil. With this rising consumption of flavor oils, manufacturers are seeing a high demand from consumers, which presents a tremendous opportunity to serve a large segment of the cosmetics ingredients market.
The global flavor oils market is majorly divided into seven regions such as North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania. Among all these regions, North America and Europe hold a significant market share in the flavor oil market, owing to the high rate of mergers and acquisitions of big cosmetic brands and their expansion, high availability of premium products, and rising consumer knowledge of flavor oil-based products.
These regions are anticipated to create strong demand for flavor oils over the forecast period. Along with that, Asia and MEA anticipate showing moderate market growth in the flavor oil market in the coming years.
Flavor oil is majorly used in the cosmetic and personal care industry in various products such as lipstick, lip balm, massage oil, lotion, cream wax, and many more cosmetic products. Flavor oil is also being getting used in the food industry to add exotic flavor to food and beverage.
Flavor oil is getting more vogue among consumers due to its additional property and add value addition to the product. Therefore, increasing vogue results in the lucrative growth of flavor oil in the ingredient market at the global level. Flavor oils are also likely to have strong market potential in terms of demand and supply in both developing and developed economies regions.
The global flavor oils market has numerous small-scale and international manufacturers at the regional level. Few industry players are identified across the value chain of the global flavor oils market, which are Natures Flavors, Inc, Natural Sourcing, LLC, Newport Flavors and Fragrances, LorAnn Oils, Inc., Rustic Escentuals, LLC, Flavor & Extract Manufacturers Assoc., Flavor Materials International, Flavor Dynamics, Inc., Gold Cost Ingredients, Inc., KATO Flavors & Fragrance, BERJÉ INC.
| Report Attribute | Details |
| Growth rate | CAGR of 4.6% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 - 2021 |
| Forecast period | 2022 - 2032 |
| Quantitative units | Revenue in US$ million/billion and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | Application, Nature, & Region |
| Regional scope | North America (U.S., Canada); Latin America (Mexico, Brazil); Europe (Germany, U.K., France, Italy, Spain, Poland, Russia); East Asia (China, Japan, South Korea); South Asia (India, Thailand, Malaysia, Vietnam, Indonesia); Oceania (Australia, New Zealand); East & Africa (GCC Countries, Turkey, Northern Africa, South Africa) |
| Country scope | U.S., Canada, Mexico, Brazil, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key companies profiled | Natures Flavors, Inc, Natural Sourcing, LLC, Newport Flavors and Fragrances, LorAnn Oils, Inc., Rustic Escentuals, LLC, Flavor & Extract Manufacturers Assoc., Flavor Materials International, Flavor Dynamics, Inc., Gold Cost Ingredients, Inc., KATO Flavors & Fragrance, BERJÉ INC. |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
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The flavor oils market is expected to record a CAGR of 4.6% during the forecast period 2022-2032, up from US$ 3.12 Billion in the year 2022 to reach a valuation of US$ 4.89 Billion by 2032.
Key players holding substantial market share are Natures Flavors, Inc, Natural Sourcing, LLC, Newport Flavors and Fragrances, LorAnn Oils, Inc., Rustic Escentuals, LLC, Flavor & Extract Manufacturers Assoc., Flavor Materials International, Flavor Dynamics, Inc., Gold Cost Ingredients, Inc., KATO Flavors & Fragrance, and BERJÉ INC.
As per the analysis, the flavor oils market share is likely to be US$ 4.89 Billion by 2032.
Growing demand for premium oil-based products in the cosmetic and personal care industry, anticipate to high market growth of flavor oil in the forecasted period.
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