The Fragrance and Essence Manufacturing industry has experienced rapid growth in the past five years, mainly driven by expanding domestic demand from downstream food, beverage and tobacco manufacturers. Increased levels of processed food production, household demand and urbanization have shaped the larger domestic market. The large potential market, cheap labor and rich aromatic plant resources have encouraged international firms to enlarge their presence in China and have helped establish China as a major fragrance and essence manufacturing center. Revenue for the industry is expected to total $11.69 billion in 2015, up 10.6% from 2014.
Products of the Fragrance and Essence Manufacturing industry include natural and synthetic spices and essences, which are further segmented into flavors (i.e. essences added to food, beverages, pharmaceuticals, animal feed, tobacco and other products) and fragrances (i.e. essences added to soaps, detergents, cosmetics, toiletries, perfumes, household cleaning products, candles, insecticides and aromatherapy products).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.