On average fragrance only makes up about 2% of a product. However, that 2% is vitally important to the product's identity and functionality. The worldwide flavor and fragrance market is projected to exceed $30 billion in 2017, with a CAGR of 5.6% between 2012 and 2017. And the F&F industry's total demand for ingredients is predicted steady growth at a projected CAGR of 5.7%.
Over the past ten years, the market scale of China's F&F industry has increased with an average CAGR of over 10%. And according to China's '12th Five-Year Plan for the Flavor and Fragrance Industry' ending in 2015, China's F&F market will have an even higher increase with an annual growth rate of 15% to reach 20% of the global market share. China is becoming one of the most important markets in the world.
|2nd China International Flavor and Fragrance Summit 2012||February 23-24, 2012|
|China International Flavor and Fragrance Summit||October 14-15, 2010|