USA: Demand for flavours and fragrances set to rocket
US demand for flavours and fragrances is forecast to grow 4.6% per annum to US$5bn in 2005, "as gains will be driven by the use of higher flavour and fragrance loadings to enhance the sensory appeal of fortified foods," according to a study by the Freedonia Group. Consolidation in the major customer base continues to create an intensely competitive environment, with large multinational endusers leveraging their purchasing power to apply pressure on suppliers for price reduction, the report says. "Flavour blends will remain the largest segment of the flavours and fragrances market, with 36% of the total demand in 2005. However, fragrance blends are expected to post faster gains and nearly overtake flavour blends by 2005, due to strong growth in skin care cosmeceuticals and other cosmetic and toiletry applications".
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