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Flavors Market Size, Share & Trends Analysis Report By Nature (Natural, Synthetic), By Form (Powder, Liquid/Gel), By Application (Food, Beverages), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 180 Pages
  • October 2023
  • Region: Global
  • Grand View Research
  • ID: 5899486
Description Jump to:
The global flavors market size is anticipated to reach USD 28.54 billion by 2030. The market is projected to grow at a CAGR of 5.7% from 2023 to 2030. Consumer preferences in the food industry have significantly changed in recent years, particularly with reference to the growing acceptance of unique and exotic flavors. This shift toward diverse and unconventional flavor profiles has led consumers to seek new ways to explore different cultures and showed a preference for unusual and exotic foods and beverages from various regions for an 'exotic effect.' This trend is supported by the emergence of natural flavor enhancers made from botanical and fruit extracts.

According to an article by Nutraceuticals World in August 2022, a global manufacturer of flavors, fragrances, botanicals, and ingredients, in today's dynamic consumer environment, people are actively pursuing novel experiences, as well as premium products and nostalgic flavors of childhood.

Further, fusion-based flavor combinations are also gaining popularity in creating innovative food products. Ingredient manufacturers help food product manufacturers deliver unique taste profiles to meet evolving consumer preferences, especially in the U.S. In March 2022, Flavorchem, a U.S.-based company, introduced 'Citrus Vacation,' a fresh line of citrus flavor enhancers. These “true-to-fruit” flavors are non-GMO, kosher, and vegan. They are available in six citrus flavors-Juicy Blood Orange, Sweet Tangerine, Zesty Key Lime, Yuzu Citrus, Fruity Kumquat, and Fresh Calamansi Lime. These flavors are versatile and can be adapted to a wide range of food and beverage applications.

The rising preference for natural ingredients is also encouraging manufacturers to opt for natural flavors to enhance the taste and aroma of their products without relying on artificial additives or synthetic flavors. The expansion of organic and clean-label product offerings creates a favorable opportunity for manufacturers to meet the demands of consumers seeking natural flavors without undesirable ingredients such as artificial sweeteners.

For instance, in September 2020, PepsiCo’s brand Tropicana launched Tropicana Lean, its new range of juice drinks in three flavors-Citrus Fruit, Mixed Berries, and Tropical Fruit-containing 40% less sugar and 40% fewer calories.

Flavors Market Report Highlights

  • Based on nature, the synthetic flavor segment held the largest market share of 67.2% in 2022 owing to technological advancements in the formulation of new flavors. Synthetic flavor compounds can be used in food manufacturing only after receiving regulatory approval from government agencies responsible for food safety and standards
  • The natural flavor segment is anticipated to register the fastest CAGR of 7.3% over the forecast period, owing to rising demand for plant-derived ingredients in food and beverages. The natural flavor segment is experiencing robust growth, primarily driven by increasing consumer demand for healthier and natural food products perceived as safer and more authentic alternatives to artificial flavors
  • In terms of form, the powdered flavors segment held the largest market share of 66.0% in 2022. The use of powdered flavors in the food industry is driven by their versatility and ability to enhance the flavor of various food and beverage products. Powdered flavors are dry, easy to store, convenient, have high heat stability, and have a longer shelf life compared to fresh ingredients, making them particularly suitable for baking applications and beverages
  • Liquid/gel form-based flavors segment is anticipated to grow at a CAGR of 5.0% over the forecast period. Liquid/gel forms are concentrated forms of flavors used in food, beverage, and nutrition products. Concentrated flavors are particularly advantageous as they offer a potent flavor impact in small quantities
  • In terms of region, Asia Pacific is estimated to grow significantly with the fastest CAGR of 6.6% over the forecast period owing to growing consumer awareness towards sustainably sourced ingredients and flavors. The demand for natural flavors in the Asia Pacific market has been boosted by consumers' growing interest in products that are naturally nutrient-rich and delicious. Natural herbs and spices have been traditionally used in household cooking across the region


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Flavor Outlook
2.3. Packaging Outlook
2.4. Distribution Channel Outlook
2.5. Regional Outlook
Chapter 3. Flavor Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Sales/Retail Channel Analysis
3.2.2. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Industry Challenges
3.3.4. Industry Opportunities
3.3.5. Industry Analysis - Porter’s Five Force Analysis
3.4. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations
Chapter 5. Flavor Market: Nature Estimates & Trend Analysis
5.1. Nature Movement Analysis & Market Share, 2022 & 2030
5.2. Natural
5.2.1. Natural flavor market estimates and forecast, 2017 - 2030 (USD Million)
5.3. Synthetic
5.3.1. Synthetic flavor market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 6. Flavor Market: Form Estimates & Trend Analysis
6.1. Form Movement Analysis & Market Share, 2022 & 2030
6.2. Powder
6.2.1. Powdered flavor market estimates and forecast, 2017 - 2030 (USD Million)
6.3. Liquid/Gel
6.3.1. Liquid/Gel flavor market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 7. Flavor Market: Application Estimates & Trend Analysis
7.1. Application Movement Analysis & Market Share, 2022 & 2030
7.2. Food
7.2.1. Market estimates and forecast, by food, 2017 - 2030 (USD Million)
7.2.2. Dairy products
7.2.2.1. Market estimates and forecast, by Dairy Products, 2017 - 2030 (USD Million)
7.2.3. Bakery & confectionery
7.2.3.1. Market estimates and forecast, by bakery & confectionery, 2017 - 2030 (USD Million)
7.2.4. Supplements & Nutrition Products
7.2.4.1. Market estimates and forecast, by Supplements & Nutrition Products, 2017 - 2030 (USD Million)
7.2.5. Meat & Seafood Products
7.2.5.1. Market estimates and forecast, by Meat & Seafood Products, 2017 - 2030 (USD Million)
7.2.6. Snacks
7.2.6.1. Market estimates and forecast, by Snacks, 2017 - 2030 (USD Million)
7.2.7. Pet Foods
7.2.7.1. Market estimates and forecast, by Pet Foods, 2017 - 2030 (USD Million)
7.2.8. Sauces, Dressings & Condiments
7.2.8.1. Market estimates and forecast, by Sauces, Dressings & Condiments, 2017 - 2030 (USD Million)
7.2.9. Others
7.2.9.1. Market estimates and forecast, by Others, 2017 - 2030 (USD Million)
7.3. Beverages
7.3.1. Market estimates and forecast, by beverages, 2017 - 2030 (USD Million)
7.3.2. Juices & Juice Concentrates
7.3.2.1. Market estimates and forecast, by Juices & Juice Concentrates, 2017 - 2030 (USD Million)
7.3.3. Functional Beverages
7.3.3.1. Market estimates and forecast, by Functional Beverages, 2017 - 2030 (USD Million)
7.3.4. Alcoholic Beverages
7.3.4.1. Market estimates and forecast, by Alcoholic Beverages, 2017 - 2030 (USD Million)
7.3.5. Carbonated Soft Drinks
7.3.5.1. Market estimates and forecast, by Carbonated Soft Drinks, 2017 - 2030 (USD Million)
7.3.6. Others
7.3.6.1. Market estimates and forecast, by Others, 2017 - 2030 (USD Million)
7.4. Others
7.4.1. Market estimates and forecast, by Others, 2017 - 2030 (USD Million)
Chapter 8. Flavor Market: Regional Estimates & Trend Analysis
8.1. Regional Movement Analysis & Market Share, 2022 & 2030
8.2. Regional Movement Analysis & Market Share, 2022 & 2030
8.3. North America
8.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.3.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.3.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.3.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.3.5. U.S.
8.3.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.3.5.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.3.5.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.3.5.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.3.6. Canada
8.3.6.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.3.6.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.3.6.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.3.6.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.3.7. Mexico
8.3.7.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.3.7.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.3.7.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.3.7.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.4. Europe
8.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.4.1.1. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.4.1.2. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.4.1.3. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.4.2. UK
8.4.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.4.2.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.4.2.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.4.2.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.4.3. Germany
8.4.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.4.3.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.4.3.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.4.3.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.4.4. France
8.4.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.4.4.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.4.4.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.4.4.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.4.5. Italy
8.4.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.4.5.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.4.5.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.4.5.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.4.6. Spain
8.4.6.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.4.6.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.4.6.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.4.6.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.5. Asia Pacific
8.5.1.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.5.1.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.5.1.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.5.1.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.5.2. China
8.5.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.5.2.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.5.2.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.5.2.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.5.3. India
8.5.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.5.3.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.5.3.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.5.3.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.5.4. Japan
8.5.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.5.4.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.5.4.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.5.4.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.5.5. Australia & New Zealand
8.5.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.5.5.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.5.5.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.5.5.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.6. Central & South America
8.6.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.6.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.6.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.6.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.6.5. Brazil
8.6.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.6.5.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.6.5.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.6.5.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.7. Middle East & Africa
8.7.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.7.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.7.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.7.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
8.7.5. South Africa
8.7.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
8.7.5.2. Market estimates and forecast, by nature, 2017 - 2030 (USD Million)
8.7.5.3. Market estimates and forecast, by form, 2017 - 2030 (USD Million)
8.7.5.4. Market estimates and forecast, by application, 2017 - 2030 (USD Million)
Chapter 9. Company Profiles
9.1. Recent developments & impact analysis, by key market participants
9.2. Company Categorization
9.3. Participant’s Overview
9.4. Financial Performance
9.5. Product Benchmarking
9.6. Company Market Share Analysis, 2022 (%)
9.7. Company Heat Map Analysis
9.8. Strategy Mapping
9.9. List of key companies analyzed in this section includes:
9.9.1. Givaudan
9.9.2. Firmenich SA
9.9.3. Symrise AG
9.9.4. Sensient Technologies Corporation
9.9.5. International Flavors & Fragrances Inc.
9.9.6. Takasago International Corporation
9.9.7. Kerry Group plc
9.9.8. MANE
9.9.9. Robertet Group
9.9.10. Huabao Flavours & Fragrances Co., Ltd.
List of Tables
Table 1 Flavors market estimates & forecast, by nature (USD Million)
Table 2 Flavors market estimates & forecast, by form (USD Million)
Table 3 Flavors market estimates & forecast, by application (USD Million)
Table 4 Key flavor categories in the bakery industry, 2020
Table 5 U.S. macro-economic outlay
Table 6 Canada macro-economic outlay
Table 7 Mexico macro-economic outlay
Table 8 Germany macro-economic outlay
Table 9 UK macro-economic outlay
Table 10 France macro-economic outlay
Table 11 Spain macro-economic outlay
Table 12 Italy macro-economic outlay
Table 13 China macro-economic outlay
Table 14 Japan macro-economic outlay
Table 15 India macro-economic outlay
Table 16 Australia macro-economic outlay
Table 17 Brazil macro-economic outlay
Table 18 South Africa macro-economic outlay
Table 19 Recent Developments & Impact Analysis, By Key Market Participants
Table 20 Company Market Share, 2022 (Value % Share)
Table 21 Company Heat Map Analysis
Table 22 Companies undergoing product launches
Table 23 Companies undergoing acquisitions
Table 24 Companies undergoing other strategies
List of Figures
Fig. 1 Flavors market segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research approaches
Fig. 5 Primary research process
Fig. 6 Market snapshot
Fig. 7 Segment outlook
Fig. 8 Application outlook
Fig. 9 Competitive landscape snapshot
Fig. 10 Flavors and fragrance market value, 2022 (USD Billion)
Fig. 11 Flavors market-Industry value chain analysis
Fig. 12 Flavors market dynamics
Fig. 13 Flavors market: Porter’s analysis
Fig. 14 Flavors market: PESTEL analysis
Fig. 15 Flavors market, by nature: Key takeaways
Fig. 16 Flavors market, by nature: Market share, 2022 & 2030
Fig. 17 Natural flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 18 Preference for sustainability claims driving consumer purchase decisions in key markets, 2021
Fig. 19 Synthetic flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 20 Flavors market, by form: Key takeaways
Fig. 21 Flavors market, by form: Market share, 2022 & 2030
Fig. 22 Powder form flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 23 Liquid/gel form flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 24 Flavors market, by application: Key takeaways
Fig. 25 Flavors market, by application: Market share, 2022 & 2030
Fig. 26 Flavors in food products market estimates & forecast, 2017-2030 (USD Million)
Fig. 27 Flavors in dairy products market estimates & forecast, 2017-2030 (USD Million)
Fig. 28 Flavors in bakery & confectionery products market estimates & forecast, 2017-2030 (USD Million)
Fig. 29 Flavors in supplements & nutrition products market estimates & forecast, 2017-2030 (USD Million)
Fig. 30 Flavors in meat & seafood products market estimates & forecast, 2017-2030 (USD Million)
Fig. 31 Flavors in snacks market estimates & forecast, 2017-2030 (USD Million)
Fig. 32 Flavors in pet food products market estimates & forecast, 2017-2030 (USD Million)
Fig. 33 Flavors in sauces, dressings, & condiments market estimates & forecast, 2017-2030 (USD Million)
Fig. 34 Flavors in other food products market estimates & forecast, 2017-2030 (USD Million)
Fig. 35 Flavors in beverages market estimates & forecast, 2017-2030 (USD Million)
Fig. 36 Flavors in juices & juice concentrates market estimates & forecast, 2017-2030 (USD Million)
Fig. 37 Flavors in functional beverages market estimates & forecast, 2017-2030 (USD Million)
Fig. 38 Flavors in alcoholic beverages market estimates & forecast, 2017-2030 (USD Million)
Fig. 39 Flavors in carbonated soft drinks market estimates & forecast, 2017-2030 (USD Million)
Fig. 40 Flavors in other beverages market estimates & forecast, 2017-2030 (USD Million)
Fig. 41 Flavors in other products market estimates & forecast, 2017-2030 (USD Million)
Fig. 42 Flavors market revenue, by region, 2022 & 2030 (USD Million)
Fig. 43 Regional marketplace: Key takeaways
Fig. 44 Regional marketplace: Key takeaways
Fig. 45 North America flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 46 U.S. flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 47 Canada flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 48 Mexico flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 49 Europe flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 50 Germany flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 51 UK flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 52 France flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 53 Spain flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 54 Italy flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 55 Asia Pacific flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 56 China flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 57 Japan flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 58 India flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 59 Australia & New Zealand flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 60 Central and South America flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 61 Brazil flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 62 Middle East and Africa flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 63 South Africa flavors market estimates & forecast, 2017-2030 (USD Million)
Fig. 64 Key Company Categorization
Fig. 65 Company Market Share Analysis, 2022
Fig. 66 Strategic framework

Companies Mentioned

  • Givaudan
  • Firmenich SA
  • Symrise AG
  • Sensient Technologies Corporation
  • International Flavors & Fragrances Inc.
  • Takasago International Corporation
  • Kerry Group plc
  • MANE
  • Robertet Group
  • Huabao Flavours & Fragrances Co., Ltd.

Methodology

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Table Information

Report AttributeDetails
No. of Pages180
PublishedOctober 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 18.27 Billion
Forecasted Market Value ( USD ) by 2030 $ 28.54 Billion
Compound Annual Growth Rate5.7%
Regions CoveredGlobal
No. of Companies Mentioned10

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