The demand for natural food flavors is
increasing significantly across all regions with rising health awareness.
Natural flavors offer varied health benefits and are widely accepted by
consumers who are ready to pay premium prices for natural foods. The
demand for processed food & beverages is on the rise, due to which demand
for food flavors is also growing. The food
flavors market is estimated to be USD 13.56 billion in 2018 and is
projected to reach USD 17.10 billion by 2023, at a CAGR of 4.8%.
The fruits & nuts segment is estimated to account for the
largest share of the food flavors market, by type, in 2018.
On
the basis of type, the fruits & nuts segment is estimated to account for
the largest share of the food flavors market in 2018. Fruit & nut flavors
are common in beverages, bakery products, dessert items, puddings, and energy
bars. Fruits & nuts have numerous health benefits. Various energy drinks
and non-carbonated drinks also have fruits & nuts flavors added to it.
The beverages segment, by application, is estimated to account
for the larger share in 2018.
On
the basis of application, the beverages segment accounted for the larger share
of the market in 2018. Increasing demand for carbonated and non-carbonated
energy drinks are key drivers of the segment.
On the basis of form, the liquid segment is projected to be the
faster-growing during the forecast period.
Based
on form, the liquid segment is projected to be the faster-growing. Liquid
flavors are generally available in water-soluble and oil-soluble forms. Food
flavors in the liquid form are used for food items such as beverages, dairy
products, protein drinks, and pharmaceuticals. They are easy to mix and provide
flavor consistency.
On the basis of origin, the natural segment is projected to be
the faster-growing during the forecast period.
Based
on origin, the natural segment is projected to be the faster-growing. Liquid
flavors are generally available in water-soluble and oil-soluble forms.
Consumer preference toward clean label and organic products drives the natural
food flavors market.
Asia Pacific is estimated to dominate the food flavors
market in 2018.
Asia
Pacific is estimated to be the largest market for food flavors in 2018. This is
due to the rising consumption of beverages, confectionery, dairy, and bakery
products increasing in this region. China is witnessing economic development
and rise in disposable income, due to which there is an increase in consumption
of processed food items. This leads to the growth of the food flavors industry.
This
report includes a study of marketing and development strategies, along with the
product portfolios of the leading companies. It includes profiles of leading
companies such as Givaudan (Switzerland), International Flavors &
Fragrances (US), Firmenich (Switzerland), Symrise (Germany), Frutarom (Israel),
Sensient (US), MANE (France), Takasago (Japan), T.Hasegawa (Japan), and
Robertet (France).
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