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Food Flavors Market by Origin (Natural, Nature-identical, and Artificial), Type (Vanilla, Dairy, and Spices & Herbs), Form (Liquid), and Application (Beverages, Dairy Products, Confectionery Products, and Meat Products) - Global Forecasts to 2028

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    Report

  • 194 Pages
  • February 2022
  • Region: Global
  • Meticulous Market Research Pvt. Ltd.
  • ID: 5544437

FEATURED COMPANIES

  • BASF SE (Germany)
  • Corbion NV (Netherlands)
  • Döhler GmbH (Germany).
  • Givaudan SA (Switzerland)
  • Kerry Group (Ireland)
  • MANE SA (France)
Food Flavors Market by Origin (Natural, Nature-identical, and Artificial), Type (Vanilla, Dairy, and Spices & Herbs), Form (Liquid), and Application (Beverages, Dairy Products, Confectionery Products, and Meat Products) - Global Forecasts to 2028

The research report titled “Food Flavors Market by Origin (Natural, Nature-identical, and Artificial), Type (Vanilla, Dairy, and Spices & Herbs), Form (Liquid), and Application (Beverages, Dairy Products, Confectionery Products, and Meat Products) - Global Forecasts to 2028” provides an in-depth analysis of the food flavors market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2028.

In terms of value, the food flavors market is expected to grow at a CAGR of 4.2% from 2021 to reach $20.39 billion by 2028, and in terms of volume, this market is expected to grow at a CAGR of 3.8% from 2021 to reach 10,935.6 thousand MT by 2028.

The growth of this market is backed by the growing demand for clean label and organic products, strong growth in the food & beverage industry, and technological advancements, such as microencapsulation.

Moreover, the emerging economies in Asia-Pacific, Latin America, the Middle East & Africa, and the increasing usage of flavors in functional foods provide significant opportunities for the growth of this market.

The study offers a comprehensive analysis of the food flavors market concerning the origin, type, form, applications, and geography. The food flavors market is segmented based on origin (natural food flavors, natural-identical food flavors, and artificial food flavors), type (fruits & nuts, chocolate & browns, vanilla, spices & herbs, dairy, vegetables, and other types), form (liquid-form food flavors and dry-form food flavors), application (beverages [alcoholic drinks, soft drinks, hot drinks, and other drinks], savory & snacks, dairy products [ice cream and other dairy products], confectionery products, baked products, meat products, and other applications), and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on origin, the food flavors market is segmented into natural food flavors, nature-identical food flavors, and artificial food flavors. The artificial food flavors segment accounted for the largest share of the food flavors market in 2021. The large share of this segment is mainly attributed to the higher usage of artificial flavors due to the availability of a wide range of flavors in this category, the increasing demand for new flavors, and the cost-effectiveness of artificial flavors compared to natural flavors.

Furthermore, the huge demand for artificial flavors in packaged food products, fast foods, and Ready-To-Eat (RTE) products supports the growth of this segment.

However, the natural food flavors segment is expected to grow at the fastest CAGR during the forecast period due to the rising demand for unique exotic flavors, growing health awareness, increasing demand for organic food products, rising preference for natural flavors as an active ingredient in bakery products, and key trend for clean label products.

Based on type, the food flavors market is mainly segmented into chocolate & browns, vanilla, fruits &nuts, dairy, spices & herbs, vegetables, and other types. The fruits & nuts segment accounted for the largest share of the food flavors market in 2021. However, the spices & herbs segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the rising health consciousness among consumers, interest in new tastes, convenience and sustainability, rapid change in eating preferences among consumers, and the growing awareness about medicinal properties of spices & herbs.

Based on form, the food flavors market is segmented into liquid-form food flavors and dry-form food flavors. The liquid-form food flavors segment accounted for the largest share of the food flavors market in 2021. The large share of this segment is mainly attributed to its benefits, such as its capability to increase the shelf life of food products, ensure homogeneous blends with virtually no segregation, and provide high microbiological stability, which is used in the food and beverage, confectionery, bakery, dairy, and other food industries. Additionally, this segment is expected to grow at the highest CAGR during the forecast period.

Based on application, the food flavors market is mainly segmented into beverages, dairy products, confectionery products, baked products, meat products, savory and snacks, and other applications. The beverages segment accounted for the largest share of the food flavors market in 2021. The large share of this segment is mainly attributed to the growing demand for beverages, rising disposable income in emerging countries, rapid urbanization, and changing lifestyles worldwide. However, the savory & snacks segment is expected to grow at the highest CAGR during the forecast period.

Based on geography, this market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the food flavors market in 2021. The large share of this region is primarily attributed to the increasing demand for processed food products in emerging and developing countries, such as India, China, Indonesia, and Thailand; shifting consumer preferences for high-quality food ingredients, and the increasing outsourcing of processed food manufacturing from the Asian region to meet the growing international demand.

The key players operating in the food flavors market are Givaudan SA (Switzerland), International Flavors & Fragrances, Inc. (U.S.), Firmenich SA (Switzerland), Symrise AG (Germany), Sensient Technologies Corporation (U.S.), MANE SA (France), Takasago International Corporation (Japan), T. Hasegawa Co., Ltd. (Japan), Robertet Group (France), Huabao International Holdings Limited (Hong Kong), Kerry Group (Ireland), Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Corbion NV (Netherlands), and Döhler GmbH (Germany).

Key questions answered in the report

  • Which are the high-growth market segments in terms of origin, type, form, application, and geography?
  • What is the historical market size for food flavors across the globe?
  • What are the market forecasts and estimates for the period 2021-2028?
  • What are the major drivers, restraints, and opportunities in the food flavors market?
  • Who are the major players in the market, and what are their market shares?
  • Who are the major players in various countries, and what are their market shares?
  • How is the competitive landscape for the food flavors market?
  • What are the recent developments in the food flavors market?
  • What are the different strategies adopted by the major players in the market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the food flavors market, and how do they compete with other players?

Scope of the report


Food Flavors Market, by Origin

  • Natural Food Flavors
  • Natural-identical Food Flavors
  • Artificial Food Flavors

Food Flavors Market, by Type

  • Fruits & Nuts
  • Chocolate & Browns
  • Vanilla
  • Spices & Herbs
  • Dairy
  • Vegetables
  • Other Types

Food Flavors Market, by Form

  • Liquid-form Food Flavors
  • Dry-form Food Flavors

Food Flavors Market, by Application

  • Beverages
  • Alcoholic Drinks
  • Soft Drinks
  • Hot Drinks
  • Other Drinks
  • Savory & Snacks
  • Dairy Products
  • Ice Cream
  • Other Dairy Products
  • Confectionery Products
  • Baked Products
  • Meat Products
  • Other Applications

Food Flavors Market, by Geography

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
  • Japan
  • China
  • Australia
  • India
  • Rest of Asia-Pacific (RoAPAC)
  • Latin America
  • Middle East & Africa

FEATURED COMPANIES

  • BASF SE (Germany)
  • Corbion NV (Netherlands)
  • Döhler GmbH (Germany).
  • Givaudan SA (Switzerland)
  • Kerry Group (Ireland)
  • MANE SA (France)

1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.2. Bottom-Up Approach
2.3.3. Top-Down Approach
2.3.4. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Executive Summary
3.1. Introduction
3.1.1. Food Flavors Market Analysis: by Origin
3.1.2. Food Flavors Market Analysis: by Type
3.1.3. Food Flavors Market Analysis: by Form
3.1.4. Food Flavors Market Analysis: by Application
3.2. Regional Analysis
3.3. Key Players
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Demand for Clean Label and Organic Products
4.2.2. Strong Growth in the Food & Beverage Industry
4.2.3. Technological Advancements: Microencapsulation
4.3. Restraints
4.3.1. Harmful Health Effects of Flavors
4.3.2. Stringent Government Regulations on the Use of Food Flavors
4.4. Opportunities
4.4.1. Emerging Economies
4.4.2. Use of Flavors in Functional Food Products
4.5. The Impact of COVID-19 on the Food Flavors Market
4.6. Regulatory Analysis
4.6.1. North America
4.6.2. Europe
4.6.3. Asia-Pacific
5. Global Food Flavors Market, by Origin
5.1. Introduction
5.2. Artificial Food Flavors
5.3. Natural Food Flavors
5.4. Nature-Identical Food Flavors
6. Global Food Flavors Market, by Type
6.1. Introduction
6.2. Fruits & Nuts
6.3. Chocolate & Browns
6.4. Vanilla
6.5. Spices & Herbs
6.6. Dairy
6.7. Vegetables
6.8. Other Types
7. Global Food Flavors Market, by Form
7.1. Introduction
7.2. Liquid
7.3. Dry
8. Global Food Flavors Market, by Application
8.1. Introduction
8.2. Beverages
8.2.1. Alcoholic Drinks
8.2.2. Soft Drinks
8.2.3. Hot Drinks
8.2.4. Other Beverages
8.3. Savory & Snacks
8.4. Dairy Products
8.4.1. Ice Cream
8.4.2. Other Dairy Products
8.5. Confectionery Products
8.6. Baked Products
8.7. Meat Products
8.8. Other Applications
9. Food Flavors Market, by Geography
9.1. Introduction
9.2. Asia-Pacific
9.2.1. Japan
9.2.2. China
9.2.3. Australia
9.2.4. India
9.2.5. Rest of Asia-Pacific (RoAPAC)
9.3. Europe
9.3.1. Germany
9.3.2. U.K.
9.3.3. France
9.3.4. Italy
9.3.5. Spain
9.3.6. Rest of Europe (RoE)
9.4. North America
9.4.1. U.S.
9.4.2. Canada
9.5. Latin America
9.6. Middle East & Africa
10. Competitive Landscape
10.1. Introduction
10.2. Competitive Benchmarking
11. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
11.1. Givaudan SA
11.2. International Flavors & Fragrances, Inc. (IFF)
11.3. Firmenich SA
11.4. Symrise AG
11.5. Sensient Technologies Corporation
11.6. MANE SA
11.7. Takasago International Corporation
11.8. T. Hasegawa Co., Ltd.
11.9. Robertet Group
11.10. Huabao International Holdings Limited
11.11. Kerry Group
11.12. Koninklijke DSM N.V.
11.13. BASF SE
11.14. Archer Daniels Midland Company
11.15. Corbion NV
11.16. Döhler GmbH
12. Appendix
12.1. Questionnaire
12.2. Available Customization
  • Givaudan SA (Switzerland)
  • International Flavors & Fragrances Inc. (U.S.)
  • Firmenich SA (Switzerland)
  • Symrise AG (Germany)
  • Sensient Technologies Corporation (U.S.)
  • MANE SA (France)
  • Takasago International Corporation (Japan)
  • T. Hasegawa Co. Ltd. (Japan)
  • Robertet Group (France)
  • Huabao International Holdings Limited (Hong Kong)
  • Kerry Group (Ireland)
  • Koninklijke DSM N.V. (Netherlands)
  • BASF SE (Germany)
  • Archer Daniels Midland Company (U.S.)
  • Corbion NV (Netherlands)
  • Döhler GmbH (Germany).