At 8.3% CAGR, Europe Fermented Flavor and Fragrance Ingredients Market is Projected to be Worth US$ 901.87 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe fermented flavor and fragrance ingredients market was valued at US$ 477.82 million in 2022 and is expected to reach US$ 901.87 million by 2030, registering a CAGR of 8.3% from 2022 to 2030. Technological advancements and rising sustainability concerns are among the critical factors attributed to drive the Europe fermented flavor and fragrance ingredients market growth.

Traditional and biomass fermentation are traditional methods used for fermentation for ages. However, precision fermentation is considered an advanced type of fermentation used to produce flavors and fragrances. The process of precision fermentation includes a microbial host that is used to obtain a target ingredient, i.e., flavors and fragrances. This is done by genetic modifications affecting the host's DNA by introducing foreign DNA. Bacteria, algae, yeast, and mold are used as a host in precision fermentation. This advanced fermentation technology requires intensive R&D, from the genetic altering and optimization of the host to feedstock selection and preparation and downstream process design, which will result in high standards of the final ingredient. This fermentation technique is more sustainable. Thus, with a growing world population to feed, severe climate changes, and the reduction of fertile lands to grow food, the demand for more efficient, sustainable, and arable land-free technologies that produce food ingredients is required. Thus, the increasing need for technologies with a lower environmental footprint is expected to boost the fermented flavor and fragrance ingredients market growth during the forecast period.

The key market players use precision fermentation technology to launch natural flavors and fragrances. For instance, Insempra recently launched a violet and raspberry fragrance developed through precision fermentation. Thus, the advancement in fermentation technology such as precision fermentation, is expected to create lucrative opportunities for the fermented flavor and fragrance ingredients market during the forecast period.

On the contrary, high product costs hurdle the growth of Europe fermented flavor and fragrance ingredients market.

Based on type, the Europe fermented flavor and fragrance ingredients market is divided into fruity, floral, woody, blends, and others. The fruity segment held 33.2% Europe fermented flavor and fragrance ingredients market share in 2022, amassing US$ 158.68 million. It is projected to garner US$ 292.17 million by 2030 to register 7.9% CAGR during 2022-2030.

In terms of application, the Europe fermented flavor and fragrance ingredients market is categorized into food and beverages, personal care products, cosmetics, and others. The others segment held 39.0% share of Europe fermented flavor and fragrance ingredients market in 2022, amassing US$ 186.37 million. It is projected to garner US$ 337.64 million by 2030 to expand at 7.7% CAGR from 2022 to 2030.

Based on country, the Europe fermented flavor and fragrance ingredients market is categorized into Germany, France, Italy, the UK, Spain, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 38.1% share of Europe fermented flavor and fragrance ingredients market in 2022. It was assessed at US$ 182.15 million in 2022 and is likely to hit US$ 321.43 million by 2030, registering a CAGR of 7.4% during 2022-2030.

Key players operating in the Europe fermented flavor and fragrance ingredients market are Jeneil Biotech Inc, Dohler GmbH, Takasago International Corp, Givaudan SA, BASF SE, Firmenich International SA, Amyris Inc, Insempra GmbH, and Evolva Holding SA, among others.

• In December 2023, Takasago International Corp launched Clean Beauty Collective's new Clean Reserve H2EAU in collaboration with Sephora. This product aims to serve people with sensitive skin, and the product is ethyl alcohol-free.
  
  
• In February 2023, Givaudan SA partnered with biotech company Amyris to acquire primary cosmetic ingredients, including high-performance emollient Neossance Squalane, plant-based silicone alternative Neossance Hemisqualane, and sustainable sun protector CleanScreen. The long-term partnership agreement will allow Amyris to continue manufacturing cosmetic ingredients for Givaudan and provide access to its innovation capabilities. Givaudan will become the commercialization partner for future sustainable beauty ingredients. Amyris' ingredients are used in over 20,000 products from top brands, reaching over 300 million consumers. The deal includes an upfront cash consideration and performance-based earnout.

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