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Global Food Flavors Market Latest Trends Analysis and Growth Outlook to 2031

Published On: Feb, 2025
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Pages: 155

"The Food Flavors Market is estimated to be USD 19.9 billion in 2024. Furthermore, the market is expected to grow to USD 29.3 billion by 2031, with a Compound Annual Growth Rate (CAGR) of 5.64%."

Food Flavors Market Overview

The food flavors market is witnessing a healthy growth rate amid the prevailing health and economic emergencies. The flavor is one of the key essentials of the food product to drive the consumer purchasing decision. Ever-increasing consumer craving for new flavors and tastes is encouraging the introduction of exotic combinations by manufacturers despite the prevailing priority for comforting and familiar foods and beverages. The flavor market witnessed a significant contraction in 2020 due to stringent lockdowns and restricted operating hours limiting the demand from restaurants, cafes, and all food away from home options. However, the successful vaccination of the majority of the public and prolonged stays at home encourages the public to return to regular food habits, dining out, and eating out. A favorable macro trend, which includes increasing adoption of healthy, convenient and good flavored food, changing consumer lifestyle and preferences are proliferating demand for food flavors market. The food flavor market is dominated by Europe generating 33.6% of the global revenues in 2020. Rising demand for clean label and sustainable products is driving innovation to introduce exuberant flavors from natural sources. Key countries leading the food flavor market include the United States, China, Germany, The United Kingdom, France, Japan, and Canada. Latest Trends in Food Flavors Market - Growing Consumer Demand for Healthy and Natural Foods Flavors An increase in consumer concerns towards the ill effects such as allergic reactions, abdominal pains, diarrhea and a few more on human health specifically in children resulting from the consumption of artificial food flavors are likely to create huge demand for the usage of natural flavors in food products. A growing trend in incorporating natural ingredients and plants with food and Beverages spurred by growing consumer awareness for personal health and fitness will further boost the demand for healthy and natural food flavors. Another key factor driving the demand for natural flavor blends is the continued interest in foods with exotic or ethnic flavors. To meet the growing demand for natural flavors, manufacturers are also inclining to nature-identical flavors while moving towards natural ingredients. - Companies continue to boost R&D spending on product differentiation and innovative solutions Manufacturing companies are increasingly investing in R&D to launch products with diverse flavors and ingredients. Key players are innovating continuously to cater to the dynamic and diverse needs of consumers of different age groups.

The growing awareness of health benefits, a keen eye for a list of ingredients and clean label requirements combined with the need for appealing flavors and packaging with attractive pricing is pressing the importance of technological advancement. Innovations in natural and artificial flavors are among other key factors driving the sales of flavored food products. - Introduction of New Flavors and Varieties Innovation in products is one of the key strategies opted in the industry as product differentiation is widely used to attract consumers. In particular, the introduction of new flavors is the main driver in the market. European and American companies are launching diverse customized varieties to stay ahead of the competition. Consumer interest in different flavors with natural ingredients such as botanicals and floral flavors is one of the key drivers. Various floral flavors being added to the bakery products to give natural aroma and taste to the food product attributed to the consumer willingness to spend on these food products and ingredients are the key factors for the food flavor market.

Driving Factors One of the key factors driving the growth of the flavors market is the growing consumer demand for unique and diverse taste experiences. As global tastes become more adventurous, consumers are looking for innovative and exotic flavors that excite their senses. The growing interest in culinary exploration has prompted food manufacturers to invest in research and development to create exciting new flavor profiles, thereby driving market expansion.

Market Challenges Growth strategies by the companies in the market: Food and drink markets are still reeling from aftershocks of the pandemic, which disrupted the supply chain with astronomical shipping prices, lingering labor shortages and persistent consumer demand. Thus, for the foreseeable future, stakeholders are adapting to a fundamentally altered landscape. Industry players use inorganic growth strategies as mergers and acquisitions to increase their market presence and increase profits. Small industries that thrive by developing technical service centers and facilities in various regions provide opportunities for market growth. This growth strategy is essential for small businesses, as it allows them to expand their technical capabilities through precise R&D infrastructures provided by key industry players.

Companies Mentioned

  • Givaudan SA
  • Koninklijke DSM N.V.
  • Archer Daniels midland
  • Kerry Group Plc
  • BASF SE

 

Report Scope

Details

Market Value- $ Billion,2024

19.9

Market Growth (Value), (2024-2031)- %

5.6

 Leading Region

Xx

Base Year

2023

Forecast Period

2024 to 2031

Segments Covered

By Application, By Type

Geography Covered

North America, Europe, Asia-Pacific, South and Central America, and Middle East & Africa

 

Market Segmantation

Food Flavors Market, By Application

  • Beverages
  • Savory and Snacks
  • Bakery
  • Dairy
  • Confectionery
  • Other

Food Flavors Market, By Type

  • Natural Flavor 
  • Artificial Flavor
  • Nature-identical Flavor

TABLE OF CONTENTS

1. GLOBAL FOOD FLAVORS INDUSTRY
1.1. Market Scope and Definition
1.2. Study Assumptions

2. FOOD FLAVORS MARKET LATEST TRENDS, DRIVERS AND CHALLENGES, 2023 -2031
2.1. Food Flavors Market Latest Trends
2.1.1. Growing Consumer Demand for Healthy and Natural Foods Flavors
2.1.2. Companies continue to boost R&D spending on product differentiation and innovative solutions
2.1.3. Clean Label Requirements
2.1.4. Improving Product Features
2.1.5. Sweet, Indulge & Comfort
2.1.6. Acquisitions Remain Key Strategy for Companies
2.2. Food Flavors Market Insights, 2023-2031
2.2.1. Global Food Flavors Market Value, By Application 2023-2031
2.2.2. Global Food Flavors Market by Geography, 2023-2031
2.3. Food Flavors Market Drivers and Restraints
2.3.1. Food Flavors Demand Drivers to 2031
2.3.2. Food Flavors Challenges to 2031
2.4. Food Flavors Market-Five Forces Analysis

3. GLOBAL FOOD FLAVORS MARKET VALUE, MARKET SHARE, AND FORECAST TO 2031
3.1. Global Food Flavors Market Overview, 2023
3.2. Global Food Flavors Market Size and Share Outlook, By Application, 2023-2031
3.2.1. Beverages
3.2.2. Savory and Snacks
3.2.3. Bakery
3.2.4. Dairy
3.2.5. Confectionery
3.2.6. Other
3.3. Global Food Flavors Market Size and Share Outlook, By Type, 2023-2031
3.3.1. Natural Flavor
3.3.2. Artificial Flavor
3.3.3. Nature-identical Flavor
3.4. Global Food Flavors Market Size and Share Outlook by Region, 2023-2031

4. EUROPE FOOD FLAVORS MARKET VALUE, MARKET SHARE, AND FORECAST TO 2031
4.1. Europe Food Flavors Market Overview, 2023
4.2. Europe Food Flavors Market Size and Share Outlook by Application, 2023-2031
4.3. Europe Food Flavors Market Size and Share Outlook by Type, 2023-2031
4.4. Europe Food Flavors Market Size and Share Outlook by Country, 2023-2031
4.4.1. Germany
4.4.2. France
4.4.3. Spain
4.4.4. United Kingdom
4.4.5. Italy
4.4.6. Belgium
4.4.7. Netherlands
4.4.8. Luxembourg
4.4.9. Rest of Europe

5. NORTH AMERICA FOOD FLAVORS MARKET VALUE, MARKET SHARE AND FORECAST TO 2031
5.1. North America Food Flavors Market Overview, 2023
5.2. North America Food Flavors Market Size and Share Outlook by Application, 2023-2031
5.3. North America Food Flavors Market Size and Share Outlook by Type, 2023-2031
5.4. North America Food Flavors Market Size and Share Outlook by Country, 2023-2031
5.4.1. United States
5.4.2. Canada
5.4.3. Mexico

6. ASIA PACIFIC FOOD FLAVORS MARKET VALUE, MARKET SHARE AND FORECAST TO 2031
6.1. Asia Pacific Food Flavors Market Overview, 2023
6.2. Asia Pacific Food Flavors Market Size and Share Outlook by Application, 2023-2031
6.3. Asia Pacific Food Flavors Market Size and Share Outlook by Type, 2023-2031
6.4. Asia Pacific Food Flavors Market Size and Share Outlook by Country, 2023-2031
6.4.1. China
6.4.2. Japan
6.4.3. India
6.4.4. Rest of Asia Pacific

7. SOUTH AND CENTRAL AMERICA FOOD FLAVORS MARKET VALUE, MARKET SHARE AND FORECAST TO 2031
7.1. South and Central America Food Flavors Market Overview, 2023
7.2. South and Central America Food Flavors Market Size and Share Outlook by Application, 2023-2031
7.3. South and Central America Food Flavors Market Size and Share Outlook by Type, 2023-2031
7.4. South and Central America Food Flavors Market Size and Share Outlook by Country, 2023-2031
7.4.1. Brazil
7.4.2. Argentina
7.4.3. Rest of South and Central America

8. MIDDLE EAST AFRICA FOOD FLAVORS MARKET VALUE, MARKET SHARE AND FORECAST TO 2031
8.1. Middle East Africa Food Flavors Market Overview, 2023
8.2. Middle East Africa Food Flavors Market Size and Share Outlook by Application, 2023-2031
8.3. Middle East Africa Food Flavors Market Size and Share Outlook by Type, 2023-2031
8.4. Middle East Africa Food Flavors Market Size and Share Outlook by Country, 2023-2031
8.4.1. Middle East
8.4.2. Africa

9. FOOD FLAVORS MARKET STRUCTURE
9.1. Givaudan SA
9.2. Koninklijke DSM N.V.
9.3. Archer Daniels midland
9.4. Kerry Group Plc
9.5. BASF SE

10. APPENDIX
10.1. About Us
10.2. Sources
10.3. Research Methodology
10.4. Contact Information

     

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FAQ's

The Global Food Flavors Market is estimated to generate USD 19.9 billion in revenue in 2024.

The Global Food Flavors Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.64% during the forecast period from 2025 to 2032.

The Food Flavors Market is estimated to reach USD 30.9 billion by 2032.

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