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Competitive Analysis: Key Market Leaders and New Entrants in the Flavors and Fragrances Industry
The flavors and fragrances market is projected to reach $47.31 billion by 2030, growing at a CAGR of 5.5%, driven by evolving consumer preferences for personalized and sustainable products. Key trends include demand for natural ingredients, functional fragrances, and bio-based aroma compounds. Major players like International Flavors & Fragrances Inc. and Givaudan SA are focusing on innovation and strategic acquisitions to enhance their market position.