Global Food Flavors Market

Global Food Flavors Market Size, Share, Growth Analysis, By Type(Natural Flavors and Synthetic Flavors), By Application(Beverages, Bakery and Confectionery) - Industry Forecast 2023-2030


Report ID: SQMIG30C2100 | Region: Global | Published Date: March, 2024
Pages: 198 | Tables: 61 | Figures: 75

Global Food Flavors Market Insights

Global Food Flavors Market size was valued at USD 17.2 Billion in 2022 and is poised to grow from USD 17.99 Billion in 2023 to USD 25.78 Billion by 2031, at a CAGR of 4.60% during the forecast period (2024-2031).

The global food flavors market is experiencing rapid growth due to the rising demand for processed and comfort foods. The market is also being driven by increased consumption of confectionary items. As the food and beverage industry continues to improve through new technology and innovative experimentation, flavor consumption is increasing. Companies are using new technologies to create better kinds of natural and synthetic flavors for improved stability and appropriateness. However, tropical fruit tastes are often lost during processing, prompting manufacturers to develop new technology to preserve the flavor.

The demand for natural food consumption is also on the rise, and the food industry is working to provide new taste sources. For instance, castoreum extract, a natural flavoring derived from a beaver's anal glands, is now being used in beverages, confectionery, dairy, and desserts as a natural flavoring. This extract, among other natural flavoring compounds, presents many opportunities for food flavoring companies. Apart from providing better taste, flavors also offer health benefits such as improved immunity and organ health. In addition, they can be used to mask off-flavors in certain foods. As the global food flavors market continues to expand, manufacturers are expected to invest in research and development to create new and unique flavor profiles that meet the changing needs and preferences of consumers. Recently, the FDA has focused on the safety of flavors that contain diacetyl, a chemical commonly used to add buttery flavor to popcorn, baked goods, and other products. Inhaling diacetyl has been linked to a serious lung disease known as "popcorn lung" in workers at popcorn factories. As a result, the FDA has recommended that manufacturers of food and flavor products take steps to reduce or eliminate the use of diacetyl in their products. The FDA has also issued guidance on the use of natural and artificial flavors in food products. The agency requires that flavor ingredients are safe for consumption and are properly labeled on food packaging. Additionally, the FDA provides guidance on the use of flavorings in specific food categories such as soft drinks, chewing gum, and candy.

Market snapshot - 2024-2031

Global Market Size

USD 17.2 Billion

Largest Segment

Natural Flavors

Fastest Growth

Natural Flavors

Growth Rate

4.60% CAGR

Global Food Flavors Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Food Flavors Market Size By Type 2021-2030 ($ Bn)
Global Food Flavors Market Size By Type 2021-2030 (%)

To get more reports on the above market click here to Buy The Report

Global Food Flavors Market Segmental Analysis

Global Food Flavors market is segmented by type, application, and region. Based on type, the market can be segmented into natural flavors and synthetic flavors. Based on application, the market is segmented into beverages, bakery and confectionery, and dairy and frozen desserts. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Food Flavors Market Analysis by Type

By type, the market can be segmented into natural flavors and synthetic flavors. Natural flavors are expected to have a higher share due to the increasing demand for natural and organic food products. Consumers are becoming more aware of the health benefits of natural ingredients and are looking for food products that are free from harmful chemicals and additives. This has led to a growing preference for natural flavors over synthetic flavors in the food and beverage industry.

The synthetic flavors segment is expected to grow at a faster rate due to the increasing demand for processed and convenience food products. Synthetic flavors are often cheaper and more stable than natural flavors, making them more suitable for use in mass-produced food products. In addition, the ability to create new and unique flavors in a laboratory has also led to increased demand for synthetic flavors.

Food Flavors Market Analysis by Application

By application, the market can be segmented into beverages, bakery and confectionery, and dairy and frozen desserts. Beverages dominated the market due to the increasing demand for soft drinks, energy drinks, and flavored water. Consumers are becoming more health-conscious, and as a result, there is a growing preference for natural and low-calorie beverages. The use of natural flavors in beverages is expected to increase due to the rising demand for clean label products.

The bakery and confectionery segment is expected to grow at a significant rate due to the increasing demand for sweet and savory snacks. With the growing number of millennials, there is a rising demand for indulgent and innovative flavors in bakery and confectionery products. Natural flavors are increasingly being used in these products due to their health benefits and consumer preference.

Global Food Flavors Market Size By Type, 2021 (%), 2022 (%)

To get detailed analysis on other segments, Request For Free Sample Report

Global Food Flavors Market Regional Insights

North America dominated the global food flavors market due to the high demand for processed food and beverages in the region. The United States is the largest market for food flavors in North America, accounting for a significant share of the market. The region is also experiencing a rise in demand for natural flavors as consumers become more health-conscious.

The Asia-Pacific region is the fastest-growing market for food flavors, with India and China being the major contributors to the growth. The region's large population, increasing disposable income, and changing lifestyle are driving the demand for processed food and beverages, which, in turn, is boosting the food flavors market.

Global Food Flavors Market By Geography, 2021-2030, 2024-2031
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Food Flavors Market Dynamics

Food Flavors Market Drivers

Increasing demand for processed and convenience foods

  • One major driver of the global food flavors market is the increasing demand for processed and convenience foods. Busy lifestyles, rising urbanization, and changing dietary habits are leading consumers to opt for packaged and ready-to-eat food products that require minimal preparation time. Food flavors play a crucial role in enhancing the taste, aroma, and appeal of these products, driving the growth of the market. Manufacturers are constantly developing new and innovative flavor profiles to cater to changing consumer preferences, which further fuels the demand for food flavors.

Food Flavors Market Restraints

Health concerns associated with artificial flavors

  • One major restraint of the global food flavors market is the health concerns associated with artificial flavors. Consumers are becoming increasingly health-conscious and are seeking natural and organic products with fewer additives. The use of synthetic flavors in processed food has been linked to health issues such as allergies, hyperactivity, and obesity, which has resulted in a decline in the demand for artificial flavors. Additionally, regulatory bodies are imposing strict regulations on the use of artificial flavors, which is hindering the growth of the market.

Request Free Customization of this report to help us to meet your business objectives.

Global Food Flavors Market Competitive Landscape

The global food flavors market is highly competitive, with numerous players operating in the market. The key players in the market are engaged in strategies such as mergers and acquisitions, partnerships, and new product launches to increase their market share and expand their customer base. Additionally, companies are investing in research and development to develop new and innovative flavor profiles that cater to changing consumer preferences. The market is also characterized by the presence of numerous regional players, which are competing with global players on the basis of price and product quality.

Food Flavors Market Top Player’s Company Profiles

  • Symrise AG (Germany)
  • Sensient Technologies Corporation (US)
  • Takasago International Corporation (Japan)
  • Mane SA (France)
  • Kerry Group (Ireland)
  • Huabao International Holdings Limited (China)
  • Robertet SA (France)
  • T. Hasegawa Co., Ltd. (Japan)
  • Frutarom Industries Ltd. (Israel)
  • Bell Flavors & Fragrances GmbH (Germany)
  • Archer Daniels Midland Company (US)
  • Döhler GmbH (Germany)
  • McCormick & Company, Incorporated (US)
  • Wild Flavors GmbH (Germany)
  • Synergy Flavors (US)
  • Sensient Flavors LLC (US)
  • Biolandes SAS (France)

Food Flavors Market Recent Developments

  • In May 2023, Symrise announced the acquisition of California-based botanicals company, Cosmos Botanicals, to expand its natural ingredients and botanicals portfolio.
  • In March 2023, International Flavors & Fragrances (IFF) announced a new partnership with Chinese e-commerce giant, Alibaba, to develop and market digital flavor solutions for the Chinese market.
  • In February 2023, Givaudan announced the acquisition of German flavor company, Stern-Wywiol Gruppe, to strengthen its capabilities in savory solutions and meat alternatives.
  • In January 2023, ADM announced the acquisition of UK-based natural ingredients supplier, Earthoil Plantations, to expand its portfolio of natural and organic flavors.
  • In August 2022, Firmenich announced a new partnership with the Singapore Institute of Technology to develop sustainable and innovative food ingredients and solutions.

Global Food Flavors Key Market Trends

  • One key market trend in the global food flavors market is the increasing demand for natural and organic flavors. Consumers are becoming more health-conscious and are seeking food products with fewer additives and ingredients derived from natural sources. This trend is driving the demand for natural flavors, such as fruit extracts, vegetable concentrates, and essential oils. Additionally, manufacturers are developing new and innovative flavor profiles that incorporate natural ingredients to cater to changing consumer preferences. Another trend is the use of ethnic and exotic flavors, such as Mediterranean, Middle Eastern, and Asian, which are gaining popularity among consumers.

Global Food Flavors Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global food flavors market analysis, the market is driven by the increasing demand for processed and convenience foods, which require flavorful ingredients to enhance their taste, aroma, and appeal. Manufacturers are investing in research and development to develop new and innovative flavor profiles that cater to changing consumer preferences. However, the market is also restrained by the health concerns associated with artificial flavors, which has led to a decline in demand for such ingredients. To address this concern, manufacturers are increasingly turning to natural and organic flavors, which are derived from natural sources and have health benefits. Key market trends include the increasing demand for natural and organic flavors, as well as the use of ethnic and exotic flavors to cater to changing consumer preferences.

Report Metric Details
Market size value in 2022 USD 17.2 Billion
Market size value in 2031 USD 25.78 Billion
Growth Rate 4.60%
Base year 2022
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Natural Flavors and Synthetic Flavors
  • Application
    • Beverages, Bakery and Confectionery, and Dairy and Frozen Desserts.
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Symrise AG (Germany)
  • Sensient Technologies Corporation (US)
  • Takasago International Corporation (Japan)
  • Mane SA (France)
  • Kerry Group (Ireland)
  • Huabao International Holdings Limited (China)
  • Robertet SA (France)
  • T. Hasegawa Co., Ltd. (Japan)
  • Frutarom Industries Ltd. (Israel)
  • Bell Flavors & Fragrances GmbH (Germany)
  • Archer Daniels Midland Company (US)
  • Döhler GmbH (Germany)
  • McCormick & Company, Incorporated (US)
  • Wild Flavors GmbH (Germany)
  • Synergy Flavors (US)
  • Sensient Flavors LLC (US)
  • Biolandes SAS (France)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Food Flavors Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Food Flavors Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Food Flavors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Food Flavors Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Food Flavors Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Food Flavors Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Food Flavors Market size was valued at USD 17.2 Billion in 2022 and is poised to grow from USD 17.99 Billion in 2023 to USD 25.78 Billion by 2031, at a CAGR of 4.60% during the forecast period (2024-2031).

The global food flavors market is highly competitive, with numerous players operating in the market. The key players in the market are engaged in strategies such as mergers and acquisitions, partnerships, and new product launches to increase their market share and expand their customer base. Additionally, companies are investing in research and development to develop new and innovative flavor profiles that cater to changing consumer preferences. The market is also characterized by the presence of numerous regional players, which are competing with global players on the basis of price and product quality. 'Givaudan SA (Switzerland)', 'Firmenich SA (Switzerland)', 'International Flavors & Fragrances Inc. (US)', 'Symrise AG (Germany)', 'Sensient Technologies Corporation (US)', 'Takasago International Corporation (Japan)', 'Mane SA (France)', 'Kerry Group (Ireland)', 'Huabao International Holdings Limited (China)', 'Robertet SA (France)', 'T. Hasegawa Co., Ltd. (Japan)', 'Frutarom Industries Ltd. (Israel)', 'Bell Flavors & Fragrances GmbH (Germany)', 'Archer Daniels Midland Company (US)', 'Döhler GmbH (Germany)', 'McCormick & Company, Incorporated (US)', 'Wild Flavors GmbH (Germany)', 'Synergy Flavors (US)', 'Sensient Flavors LLC (US)', 'Biolandes SAS (France)'

One major driver of the global food flavors market is the increasing demand for processed and convenience foods. Busy lifestyles, rising urbanization, and changing dietary habits are leading consumers to opt for packaged and ready-to-eat food products that require minimal preparation time. Food flavors play a crucial role in enhancing the taste, aroma, and appeal of these products, driving the growth of the market. Manufacturers are constantly developing new and innovative flavor profiles to cater to changing consumer preferences, which further fuels the demand for food flavors.

One key market trend in the global food flavors market is the increasing demand for natural and organic flavors. Consumers are becoming more health-conscious and are seeking food products with fewer additives and ingredients derived from natural sources. This trend is driving the demand for natural flavors, such as fruit extracts, vegetable concentrates, and essential oils. Additionally, manufacturers are developing new and innovative flavor profiles that incorporate natural ingredients to cater to changing consumer preferences. Another trend is the use of ethnic and exotic flavors, such as Mediterranean, Middle Eastern, and Asian, which are gaining popularity among consumers.

North America dominated the global food flavors market due to the high demand for processed food and beverages in the region. The United States is the largest market for food flavors in North America, accounting for a significant share of the market. The region is also experiencing a rise in demand for natural flavors as consumers become more health-conscious.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Food Flavors Market

Product ID: SQMIG30C2100

$5,300
BUY NOW GET FREE SAMPLE