The Global Food Flavors Market was valued at USD XX billion in 2019 and is expected to grow at a CAGR of XX% over the forecast period. Food flavors are frequently used to improve the taste of food products. The rising demand for processed and comfort food and the growing consumption of confectionery items are creating the demand for food flavors in the market. Natural and synthesized flavors include flavor additives. After processing and preserving perishable foods tend to lose their flavor over time, creating a need for flavoring substances. The industry has achieved notable development in the processed food and beverage segment in recent years.
A surge in popularity of exotic flavors and a rise in the demand for flavors in various food applications are other major drivers in the food flavors market. Complexities associated with natural flavor production and higher prices are expected to hamper the market growth. Superfruits from rainforests are in demand for the use of natural flavors, and such innovations are expected to create lucrative growth opportunities for market growth.
Market Segmentation
Global food flavors market is segmented based on type, application, and region.
Global Food Flavors Market, by Type
Based on type, the market is bifurcated into natural and artificial. Growing consumer interest toward purchasing clean label goods, which assures wide scope for naturally sourced ingredients is impelling the demand for natural food flavors. To deal with the growing demand for natural flavors, manufacturers are offering products free from artificial flavorings and gradually shifting toward natural ingredients.
A growing interest in foods with ethnic or exotic flavors is one of the key factors propelling the demand for natural flavor blends. In recent years, artificial flavorings are identified as carcinogens, and thus being replaced by natural flavorings across the global market.
Global Food Flavors Market, by Application
Based on application, the market is segmented into food, beverage, and others. Industries such as food, dairy, beverage, confectionery, nutritional food, pharmaceutical, and vitamin supplement use fruit flavors. Fruit flavors are present as syrups, extracts, and concentrates. Various fruits are processed to make syrups and fruit extracts, which are added to various food and beverage items to modify or add smell, color, or taste. A rise in demand for fruit-flavored drinks and technological advancements in production procedures are expected to provide growth opportunities for the beverage flavor formulators.
Global Food Flavors Market, by Region
Based on region, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Europe dominates the market owing to growing demand in the U.K. for organic products with natural food flavors. Products launched in the U.K. contain natural food ingredients, together with natural flavors. Due to the increasing application of natural flavors in beverage, bakery and confectionery industry, France has observed a reduction in synthetic food flavors usage.
The Asia-Pacific countries are driving the market due to the high production of dairy and dairy-based products, such as yogurt, ice cream, and cheese. Owing to the increased demand and the rising food and beverage industry in China, the food flavors witnessed significant growth rates. With the growing acceptance of frozen and processed food, the flavor manufacturers have many opportunities to extend their brands and strengthen connections with Brazilian consumers. The increase in the export of processed meat and meat products is also one of the major drivers for the food flavors regional market.
Recent Developments
- In December 2019, Givaudan (Switzerland) completed the acquisition of Ungerer (The U.S.) to strengthen specialty ingredient capabilities and leadership in the fast-growing local and regional customer segment
- In December 2018, Kerry Group (Ireland) acquired Ariake (The U.S.) to enhance Kerry’s extensive authentic taste and clean label portfolio, and provide better technology for flavor extraction
Competitive Landscape
Key companies are adopting strategies, such as introducing clean label and organic flavor ranges, and acquiring and partnering with local players to increase market penetration in the untapped markets. Kerry Group, PLC, Givaudan, Firmenich, Symrise AG, Sensient Technologies Corporation, Frutarom Industries, T. Hasegawa, International Flavors & Fragrances (IFF), Takasago International Corporation are some key players operating in the market.
Market Segmentation
By Type
- Natural
- Natural-identical
- Artificial/Synthetic
By Application
- Food
- Dairy
- Confectionery products
- Bakery products
- Meat products
- Other applications
- Beverage
- Juice and juice concentrates
- Functional drinks
- Carbonated soft drinks
- Other drinks
- Other Applications
By Region:
North American Food Flavors Market
- North America, by Country
- US
- Canada
- Mexico
- North America by Type
- North America by Application
The European Food Flavors Market
- Europe, by Country
- Germany
- The U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Europe by Type
- Europe by Application
Asia Pacific Food Flavors Market
- Asia Pacific, by Country
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Asia Pacific by Type
- Asia Pacific by Application
Middle East and Africa Food Flavors Market
- Middle East and Africa, by Country
- The UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East and Africa
- Middle East and Africa by Type
- Middle East and Africa by Application
South American Food Flavors Market
- South America, by Country
- Brazil
- Argentina
- Rest of South America
- South America by Type
- South America by Application
Objectives of this Report:
- Market size estimation of the data analytics market on a regional and global basis
- Unique research usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
Customization:
This study is customized to meet your specific requirements:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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