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India Flavors Market to Reach INR 5,978 Crore by 2027, Propelled by the Expanding Food Processing Industry

Published on Jul 25, 2022

The latest report by IMARC Group, titled “India Flavors Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, finds that the India flavors market size reached INR 3,569 Crore in 2021. Flavors are additive compounds that are extensively used to improve the smell and taste of various products ranging from confectionery items to health supplements. Some of the most commonly used natural ingredients of flavors are spices, barks, herbs and flowers, whereas chemical additives include diacetyl, ethyl maltol and ethyl propionate. Flavors are widely used in dairy products, baked goods, packaged snack items, beverages, and pharmaceuticals. In India, flavors have gained momentum due to their extensive adoption for non-food applications such as in personal care products, cosmetics, pet food, and animal feed.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

One of the primary factors driving the market is the growing food processing industry, and the escalating demand for ready-to-eat, packaged food items, and beverages. Additionally, the increasing adoption of various western food trends is propelling the India flavors market. Other than this, the increasing application of flavors in confectionery and bakery stores in smoothies, ice creams, and energy drinks is creating a positive market outlook. Besides this, the rising traction toward shelf-stable and processed food products, including soups, cake mix, noodles, RTD tea and coffee, juices, and others, especially among millennial individuals is catalyzing the India flavors market growth. Furthermore, the emerging café culture along with the increasing number of quick-service restaurants (QSRs), are creating lucrative growth opportunities for the market players. Apart from this, the rising health consciousness and concerns toward the negative health impact of chemical-based favoring agents are driving the market. Other growth-inducing factors include the stringent norms implemented by the Food Safety Standards Authority of India (FSSAI) regarding the quality of flavors, and the introduction of various healthier product variants such as organic and vegan flavors that consist of 100% plant-based derivatives. Looking forward, IMARC Group expects the market value to reach INR 5,978 Crore by 2027, expanding at a CAGR of 9.0% during the forecast period (2022-2027).

Market Summary:

  • On the basis of the product type, the market has been divided into nature identical, artificial, and natural.
  • Based on the form, the market has been bifurcated into liquid and dry.
  • On the basis of the application, the market has been classified into beverages, bakery products, confectionary products, dairy and frozen desserts, savories and snacks, and others.
  • Based on the region, the market has been segmented into North India, West and Central India, South India, and East India.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Doehler India Pvt. Ltd., Firmenich Aromatics (India) Private Limited, and Flavaroma Flavors and Fragrances Private.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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