my country's spice and essence supply and demand two-way growth

With the development of the economy and the improvement of people's living standards, the demand and supply market of China's flavor and fragrance industry have achieved two-way growth, and the market size of the flavor and fragrance industry has continued to expand

For a long time, the global flavor and fragrance market has been occupied by international giants.

The scale of the industry continues to expand

China's flavor and fragrance industry started in the 1930s.

Based on the huge population base and rising income levels, developing countries such as China have become the markets with the fastest growing market size in the food, daily chemical and other industries, and have driven the huge demand for flavor and fragrance products

According to the data released by the China Fragrance, Flavor and Cosmetics Industry Association in October 2018, after 40 years of development, the number of companies in the flavor and fragrance industry has increased from 83 in 1980 to more than 1,000, and the market size has also increased from 1980.

The development of the national economy has provided a good opportunity for the development of the downstream industry of flavors and fragrances, which has driven the annual output value of the downstream industry to exceed 10 trillion yuan; and the rapid development of the downstream industry has brought growing market space for the flavors and fragrances industry in China

Yaxiang shares is one of the beneficiaries

The trend of natural flavors

Fragrance is an organic compound that can sense fragrance by smell or taste, also known as fragrance raw material

Yaxiang Co.

There are many world-renowned fast-moving consumer brands among Yaxiang's customers

It is worth mentioning that high pollution is an issue that the spice industry has always been able to avoid

According to data from Asia Fragrance, the revenue of its natural flavor products is on the rise, with 253 million yuan, 269 million yuan and 309 million yuan respectively, contributing 50% of the company's revenue

　　It can be seen that the transformation to natural spices has become the general trend of the industry

Market segment leading development

　　From the perspective of industry data, the global flavor and fragrance industry is mature and the industry has maintained steady growth

　　Among developing countries and regions, China is one of the few countries that can compete with developed countries in the production of flavors and fragrances.

　　The "14th Five-Year" Development Plan for the Fragrance and Flavor Industry pointed out that during the "13th Five-Year Plan" period, the size of China's fragrance and flavor market has grown steadily.

　　At present, China's spice industry is decentralised, and will shift to centralisation in the future
.
Usually downstream customers' demand for spice products is characterized by small batches and fast delivery, which requires enterprises to have the ability to respond quickly and innovate
.
Compared with small and medium-sized enterprises, leading enterprises in the industry will have more advantages in resources, capital and technology to meet customer needs
.
Therefore, the fierce market competition will cause small and medium-sized enterprises to gradually withdraw from the market or be merged and reorganized by large companies
.

　　On the whole, the fragrance and flavor industry is an industry with stable growth, fierce competition and high product quality requirements.
From the development of Yaxiang, it can be seen that leading companies in the industry segment will benefit from the growth of industry demand
.

　　(Comprehensive arrangement by Yang Xiaojing)

　　"China Food News" (version 6, June 6, 2022)

　　(Editor in charge: Yang Xiaojing)