The Global Beverage Flavoring Systems Market will reach USD 6.1 Billion by 2028, at a CAGR of 5.7% over the projected period. The increasing demand for flavors in beverages will propel the growth of the beverage flavoring systems market during the forecast period. The food & beverage industry has been witnessing high growth for beverage flavoring systems due to an increase in population across the globe.
The growth of urban areas, along with fading rural areas, has fueled the demand for processed food and beverages. Further, manufacturers are introducing new flavors in the market to tap the growth potential of the market. The growth of the beverage flavoring systems market has been driven by the growing consumption of fortified beverages due to their nutritional value. Natural flavoring agents are in high demand due to their properties. For example, Pectin is nowadays used as a natural flavoring agent in beverages.
Growing awareness about health is boosting the demand for low salt, low-sugar food and beverages, which in turn, is driving the growth of the global beverages flavoring systems market. Additionally, the growing intake of fortified beverages by consumers due to their nutritional value is supporting the global beverage flavoring systems market. Manufacturers are inclined to cater to the demand for natural products with natural flavors. Hence, natural stabilizers will propel the growth of the global beverages flavoring systems market.
Furthermore, the introduction of advanced technologies for flavor improvement, coupled with the growing consumer inclination towards clean organic products, is boosting the growth of the global beverages flavoring systems market. The favorable environment for fortified food products, with regulatory entities granting approvals is another reason that is promoting the beverage flavoring systems market.
Further, factors such as growing disposable income, which is leading to changes in eating habits and the adoption of healthy food products, are driving the growth of the global beverage flavoring systems market.
Beverage Flavoring Systems Market, by Ingredient
The segmentation of the global market by ingredients includes flavorings, carriers, and enhancers. As consumers become health conscious, the demand for low-sugar, low salt, and low-fat beverages will increase, fueling the demand for flavoring agents. Other reason for the growth of this segment is the rising consumption of fortified beverages. The segment will also benefit from high demand for natural products combined with preservatives, as manufacturers are focusing on the application of natural flavoring ingredients.
Beverage Flavoring Systems Market, by Type
The segmentation of the global market, by type, includes browns, dairy, botanicals, and fruits. Fruits are low in calories and fats and are a source of natural sugars, fiber, and vitamins. Processing of fruits while canning or making juices may involve the addition of sugar and removal of some nutrients. These are primarily added to beverages to improve natural flavoring, which has led to the increasing demand for fruit flavorings in the market.
Beverage Flavoring Systems Market, by Origin
The segmentation of the global market, by origin, includes natural, artificial, and nature-identical. Produced from raw materials of plants and animals, natural flavoring systems are derived through microbiological, physical, or enzymatic processes. Some of the natural flavoring systems include fruits, vegetables, nuts, seafood, spice blends, and wine.
Artificial flavoring systems are obtained from chemicals similar to natural flavoring agents, and they have been approved for human consumption. Some of the artificial flavoring systems include esters, alcohol, ketones, terpenoids, phenolics, and pyrazines. Growing disposable income in developing countries has been a major factor in increasing the demand for beverages including juices, sports drinks, and carbonated soft drinks.
Beverage Flavoring Systems Market, by Beverage Type
The segmentation of the global market, by beverage type, includes alcoholic and non-alcoholic. The non-alcoholic beverage type segment is witnessing tremendous growth globally. The flavor customization offered in this segment is significantly higher than the other segments. The young and working population is the target audience for the beverage flavoring systems market. Special flavors are now developed to increase the consumer base. Moreover, consumers are becoming increasingly health conscious, which has resulted in increased demand for low-sugar, low fat, and low-salt beverages. This has created growth opportunities for non-alcoholic taste modulators and taste-masking agents.
Beverage Flavoring Systems Market, by Region
The Asia Pacific will be the largest market for beverage flavoring systems owing to a large youth population. In terms of consumption of carbonated soft drinks, in 2015, as per the World Economic Forum, the markets of China and India have grown significantly. The beverage flavoring systems market in North America and European regions is also witnessing high growth due to the growing demand for naturally flavored beverages.
Key Developments of the Global Beverage Flavoring Systems Market:
Some Key Findings of the Global Beverage Flavoring Systems Market Report Include:
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