Food Flavors Market - Global Opportunity Analysis and Industry Forecast (2021 - 2028)
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Food Flavors Market (2021 2027) Page 1 of 6© Meticulous Research| sales@meticulousresearch.com Meticulous Research® a leading global market research company published a research report titled “FoodFlavorsMarketbyOrigin(Natural,Nature identical,andArtificial),Type (Vanilla, Dairy, and Spices & Herbs), Form (Liquid), and Application (Beverages, Dairy Products,ConfectioneryProducts,andMeatProducts)—GlobalForecaststo2028”.
In terms of value, the food flavors market is expected to grow at a CAGR of 4.2% from 2021 to reach$20.39billionby2028,andintermsofvolume,themarketisexpectedtogrowataCAGR of 3.8% from2021 to reach 10,935.6 thousand MT by 2028. This market is driven by factors, such as the growing demand for clean label and organic products, the strong growth in the food & beverage industry, and increasing technological advancements, such as microencapsulation.
In addition, emerging economies in Asia Pacific, Latin America, the Middle East & Africa, and the increasing usage of flavors in functional foods are expected to provide significant growth opportunitiesforfoodflavorsmanufacturersinthecomingyears.However,theharmfulhealth effects of flavors and stringent government regulations on the use of food flavors restrain the growth of thismarket to a notable extent. The global food flavors market is segmented based on origin, type, form, application, and geography. The study also evaluates industry competitors and analyses the market at the country level. Sample of This Strategic Report: https://www.meticulousresearch.com/download sample
Food Flavors Market (2021 2027) Page 2 of 6© Meticulous Research| sales@meticulousresearch.com Scopeofthereport FoodFlavorsMarket,byOrigin • Natural Food Flavors • Natural identical Food Flavors • Artificial Food Flavors FoodFlavorsMarket,byType • Fruits & Nuts • Chocolate & Browns • Vanilla • Spices & Herbs • Dairy • Vegetables • OtherTypes FoodFlavorsMarket,byForm • Liquid form Food Flavors • Dry form Food Flavors FoodFlavorsMarket,byApplication • Beverages o Alcoholic Drinks o Soft Drinks o Hot Drinks o Other Drinks • Savory &Snacks • Dairy Products o Ice Cream o Other Dairy Products • Confectionery Products • Baked Products • Meat Products • Other Applications
Food Flavors Market (2021 2027) Page 3 of 6© Meticulous Research| sales@meticulousresearch.com FoodFlavorsMarket,byGeography • North America o U.S. o Canada • Europe o Germany o U.K. o France o Italy o Spain o Rest of Europe (RoE) • Asia Pacific (APAC) o Japan o China o Australia o India o Rest of Asia Pacific (RoAPAC) • Latin America • Middle East & Africas Access full Report Description, TOC, Table of Figure, Chart, etc: https://www.meticulousresearch.com/product/food flavors market 5145
Based on origin, the food flavors market is segmented into natural food flavors, nature identicalfood flavors,andartificialfood flavors. Theartificialfood flavorssegmentaccounted for the largest share of the food flavors market in 2021. The large share of this segment is mainly attributed to the higher use of artificial flavors with the availability of a wide range of flavors in this category, the increasing demand for new kinds of tastes, and their cost effectiveness compared to natural flavors. In addition, the huge demand for artificial flavors in rising demand & consumption of packaged food products, fast foods, and Ready To Eat (RTE)products further supports the growth in this category. However,thenaturalfoodflavorssegmentisexpectedtogrowatthehighestCAGRduringthe forecastperiod,whichisattributed totherisingdemand foruniqueexoticflavors,thegrowing health awareness among consumers, the increasing demand for organic food products, the rising preference for natural flavors as an active ingredient in bakery products, and key trend for clean labelproducts.
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 growing health consciousness, convenience and sustainability, rapid changes in eating preferences among consumers,and growing awareness aboutmedicinal properties of spices & herbs.
Based on form,the food flavors market is segmented into liquid form food flavors and dry formfoodflavors.Theliquid formfoodflavorssegmentaccountedforthelargestshareofthe food flavorsmarketin2021.Thelargeshare ofthissegmentismainlyattributed toitsbenefits, 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.
Basedontype,the food flavorsmarketismainlysegmented intochocolate&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. The large share of this segment is mainly attributed to the rapidly increasing middle class population, the rising consumption of nuts, the increasing demand for innovative and appetizing food & beverage products,and the increasing expenditure on processed food & beverage products.
Food Flavors Market (2021 2027) Page 4 of 6© Meticulous Research| sales@meticulousresearch.com
Basedongeography, 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,andThailand;shiftingconsumerpreferencesforhigh qualityfoodingredients,and the increasing outsourcing of processed food manufacturing from the Asian region to meet the growing internationaldemand.
Based on application, the food flavors market is mainly segmented into beverages, dairy products, confectionery products, baked products, meat products, savory and snacks, and otherapplications.Thebeveragessegmentaccountedforthelargestshareofthefoodflavors 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 forecastperiod.Therapidgrowthofthissegmentismainlyattributedtotherisingdemandfor functional snack food and increasing urbanization and busier lifestyles impacting the eating habits of consumers, who are increasingly replacing meals with more flexible, light, and convenient snacking options.
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Additionally, this segment is expected to growat the highest CAGR during the forecastperiod due to the growing consumer disposable income in emerging economies, such as Asia & South America, and the increasing consumption ofprocessed food & beverages.
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), HuabaoInternationalHoldingsLimited(HongKong),KerryGroup(Ireland),KoninklijkeDSMN.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Corbion NV (Netherlands), and Döhler GmbH (Germany).
• What are the major drivers, restraints,and opportunities in the food flavors market?
• Who are the major players in the market,and whatare theirmarket shares?
• Who are the major players in various countries, and whatare theirmarket shares?
Additionally, Asia Pacific isslated toregister the highestCAGR during the analysisperiod due to thegrowingprocessed food industry intheregion,rising investment inthe food sector,and the tremendous growth in the food and beverage industry, which is attributed to increasing urbanization, growing healthawareness, and rising disposable income.
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Keyquestionsansweredinthereport:
Food Flavors Market (2021 2027) Page 5 of 6© Meticulous Research| sales@meticulousresearch.com
• What are the differentstrategies adopted by the major players in the market?
• How is the competitive landscape for the food flavorsmarket?
KeyPlayers:
• What are the recentdevelopments in the food flavors market?
• What are the key geographic trends,and which are the high growth countries?
• What are the market forecasts and estimatesfor the period 2021 2028?
• Whichare the high growthmarketsegmentsin terms of origin,type, form,application, and geography? What is the historicalmarket size for food flavors across the globe?
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• Who are the local emerging players in the food flavors market, and how do they compete with other players? Us: Meticulous Research® ConnectContactsales@meticulousresearch.comSales+16467818004withusonLinkedInhttps://www.linkedin.com/company/meticulous research