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2021
Food Flavors Market

Food Flavors Market

by Type (Natural, and Artificial), and End-User (Beverages, Dairy & Frozen Products, Bakery & Confectionery, Savory & Snacks, Animal & Pet Food): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A00550
Pages: 429
Nov 2021 | 43673 Views
Author(s) : Sumesh K , Roshan D
Tables: 269
Charts: 94
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Food Flavors Market Statistics: 2030

The global food flavors market size was valued at $12,712.7 million in 2020, and is projected to reach $19,223.7 million by 2030, registering a CAGR of 3.6%. Asia-Pacific was the highest revenue contributor, accounting for majority of the share in 2020, and is estimated to at a CAGR of 4.6%. Food flavors are commonly used to improve the taste of food products. The flavor additives mainly include natural and synthesized flavors. Perishable foods after processing and preserving tend to lose their flavor over time, which creates the need to use flavoring substances to help maintain the flavor. The food & beverages industry requires flavors for different purposes such as new product development, add new product line, and change the taste of existing product. High demand for new flavors from the food & beverages industry and continuous innovation drive the growth of the market. In addition, increase in requirement from the fast food industry is expected to provide growth opportunities in the food flavors market during the forecast period.

The food & beverages industry is getting impacted profoundly amidst the outbreak of the coronavirus. The outbreak started in China resulting in lockdown and ceasing of production activities across the country.

Food-Flavors-Market-2021-2030

The demand for food flavors in China is expected to taper as it is the leading food processor and consumer of beverages and packaged products. Furthermore, recent developments in resurgence of second wave of corona virus in China are one of the major challenges the country is expected to face in the upcoming days.

Increase in demand for ready-to-eat meals & fast food is a key driver for the food flavors market across the globe. Moreover, innovative technologies, introduction of new flavors, and heavy inflow of investment in R&D activities are the other factors that supplement the food flavors market growth. There is an upcoming trend of using natural flavors, owing to rise in health awareness. Furthermore, high demand for flavors across European countries to produce commercialized clean label or green food products that are free of additives and other harmful chemicals propel the growth of the natural flavors market. Technological strides make it possible for manufacturers to develop innovative flavors to cater to the change in customer taste requirements. The applications of advanced technologies provide innovative and novel tastes in food. However, stringent government regulations and adverse effects of synthetic flavors on human health are expected to hamper the market growth. Innovation in flavors and their growth in demand across emerging economies are expected to open new avenues for the market players in the future.

The food flavors market is segmented into type, end user, and region. By type, it is bifurcated into natural and artificial flavors. By end user, it is divided into beverages, dairy & frozen products, bakery & confectionery, savory & snacks, and animal & pet food. The beverages market is further classified into hot drinks, soft drinks, and alcoholic drinks. The dairy & frozen products segment is bifurcated into dairy products and meat. The bakery & confectionery segment is further categorized as bakery, chocolate, confectionery, and ice cream. The savory & snacks market is divided into savory and snacks. The animal & pet food is classified into animal feed and pet food. By region, it is analyzed across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

Based on food flavors market analysis by type, the synthetic segment remained the dominant segment in the global market in 2020, and is expected to continue the trend throughout the forecast period. The growth of this segment can be attributed to growing application of synthetic flavors in the juices, and aerated drinks.

Food Flavors Market
By Type

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Natural was the fastest growing segment in 2020.

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Based on food flavors market forecast end user, the bakery & confectionery segment remained the dominant segment in the global food flavors market in 2020, and is expected to continue the trend throughout the forecast period. The growth of this segment can be attributed to growing affinity of consumers towards fast food and packaged baked goods.

Food Flavors Market
By End User

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Savory and Snacks was the fastest growing segment in 2020.

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Based on Region, Asia-Pacific was the largest and the fastest growing segment in the food flavors market and is expected to grow at a significant growth rate throughout the forecast. The growth of this regional segment can be attributed to changes in food consumption patterns of people in this region. Furthermore, growing affinity of consumers towards convenience and packaged food stuff, further aids the market growth. 

Food Flavors Market
By Region

2030
Asia-pacific 
North America
Europe
Latin America
Middle East
Africa

Asia-Pacific was the fastest growing segment in 2020.

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Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current food flavorsmarket trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assists to determinethe prevailing food flavorsmarket opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment in the food flavors marketreport provides a clear understanding of the present position of the market players in the industry.

Food Flavors Market Report Highlights

Aspects Details
BY TYPE
  • Natural
    • .Essential Oil
    • Natural Essence
    • Others
  • Synthetic
    • Artificial flavors
    • .Nature-identical flavor
BY END USER
  • Beverages
    • Hot drinks
    • .Soft drinks
    • Alcoholic drinks
  • Dairy & frozen products
    • Dairy products
    • Frozen products
  • Bakery & confectionery
    • Bakery
    • Chocolate
    • Confectionery
    • Ice Cream
  • Savory & snacks
    • .Savory
    • Snacks
  • Animal & pet food
    • Animal feed
    • .Pet food
BY REGION
  • North America  (U.S, Canada, mexico)
  • Europe  (UK, Germany, France, .Netherlands, Spain, Belgium, Russia, Poland, Czech Republic, Denmark, Iceland, Norway, Sweden, Finland, Rest of Europe)
  • Asia Pacific  (China, Japan, India, Australia, South Korea, Malaysia, Indonesia, Rest of Asia-Pacific)
  • Latin America  (Brazil, Argentina, .Colombia, Chile, Rest of Latin America)
  • Middle East  (.Egypt, Iran, Turkey, Saudi Arabia, UAE, Rest of Middle East)
  • Africa  (Morocco, South Africa, Nigeria, Rest of Africa)
Key Market Players FIRMENICH SA, .FRUTAROM INDUSTRIES LTD., GIVAUDAN INTERNATIONAL SA, HUABAO INTERNATIONAL HOLDINGS LIMITED, KERRY GROUP, PLC, ROBERTET SA, S H KELKAR AND COMPANY LIMITED, SENSIENT TECHNOLOGIES CORPORATION, SYMRISE AG, TAKASAGO INTERNATIONAL CORPORATION
 

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Rapid urbanization and globalization along with rise in disposable income play a major role in changing the dietary preferences across the globe, which in turn fuel the demand for animal and dairy products, vegetables, fruits, and fats & oils. Rise in disposable incomes trigger a huge demand for rich food products such as butter, cheese, milk, and dairy items such as chocolates and ice creams. Globalization and interaction between different cultures boost the demand for tasty and highly nutritious food products. Westernization of diets in developing countries is most prevalent in the middle-class population. The quick spread of global market chains and fast food restaurants is strengthening the aforementioned patterns. Innovation of enhanced flavors and consistent improvement in the technology fuels the growth of the food flavors market. Many companies with their promising R&D initiatives are expecting a positive response from the food flavor industry. However, stringent regulatory framework and rise in health awareness among people are expected to hamper the market growth during the forecast period.

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FREQUENTLY ASKED QUESTIONS?

A. The global food flavors market size was valued at $12,712.7 million in 2020.

A. The global food flavors market is projected to grow at a CAGR of 3.6%.

A. The sample for the report can be acquired from official allied market research website.

A. The forecast period for the report is 2021-2030.

A. The key companies profiled in the report are Firmenich SA, Frutarom Industries Ltd., Givaudan International SA, Huabao International Holdings Limited, Kerry Group, Plc., Robertet SA, S H Kelkar and Company Limited., Sensient Technologies Corporation, Symrise AG, and Takasago International Corporation.

A. The food flavors market is segmented into type, end user, and region.

A. Innovative technologies, introduction of new flavors, and heavy inflow of investment in R&D activities are the few of the key trends for the food flavor market.

A. Based on Region, Asia-Pacific was the largest and the fastest growing segment in the food flavors market and is expected to grow at a significant growth rate throughout the forecast.

A. The food & beverages industry is getting impacted profoundly amidst the outbreak of the coronavirus. The outbreak started in China resulting in lockdown and ceasing of production activities across the country.

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