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Food Flavors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A5353
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Market Overview:
The global food flavors market size reached US$ 16.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.29% during 2023-2028.
Food flavors refer to ingredients added in food items to intensify and improve the sensation of odor, taste, aroma and texture. Natural, synthetic and natural identical are some of the common variants of food flavors. They are manufactured using essential oils, synthetic organic chemicals, organic acids, salts, glycerol and propylene glycol. Food flavors are widely used in sauces, dairy products, cereals, beverages, soups, marinades, bakery products, bars, snacks and confectionary items. These flavors are incorporated in food products to offer a unique flavor, such as sour, bitter, sweet, and meaty and preserve the flavor after processing.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Food Flavors Market Trends:
The increasing demand for ready-to-eat (RTE) food products across the globe is one of the key factors creating a positive outlook for the market. Food flavors are widely used in packaged food products to maintain the taste and survive under acidic conditions. Additionally, the widespread product utilization in the bakery and confectionery items, such as cookies, breads, cakes, pies, rolls and pretzels, is also favoring the market growth. Apart from this, various product innovations, such as the introduction of novel, combinational flavors, such as fruits, chocolate. and nuts, to give a natural aroma to edible products, are providing an impetus to the market growth. In line with this, the increasing demand for natural ingredients and plant-based food flavors due to the rising health awareness as it assists in reducing the harmful effects of chemical additives on the body is positively impacting the market growth. Other factors, including increasing demand for commercialized and clean-label food products with natural flavors, extensive research and development (R&D) activities and the rising expenditure capacities among consumers, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global food flavors market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form and end user.
Breakup by Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Natural
- Artificial
Breakup by Form:
- Dry
- Liquid
Breakup by End User:
- Beverages
- Dairy and Frozen Products
- Bakery and Confectionery
- Savory and Snacks
- Animal and Pet Food
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer-Daniels-Midland Company, BASF SE, Corbion N.V., Firmenich SA, Givaudan, International Flavors & Fragrances Inc., Kerry Group plc, Koninklijke DSM N.V., Robertet Group, Sensient Technologies Corporation, Symrise AG and Takasago International Corporation.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Type, Form, End User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Archer-Daniels-Midland Company, BASF SE, Corbion N.V., Firmenich SA, Givaudan, International Flavors & Fragrances Inc., Kerry Group plc, Koninklijke DSM N.V., Robertet Group, Sensient Technologies Corporation, Symrise AG and Takasago International Corporation. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global food flavors market was valued at US$ 16.2 Billion in 2022.
We expect the global food flavors market to exhibit a CAGR of 4.29% during 2023-2028.
The growing demand for natural and plant-based food flavors over chemical additives among the health-conscious consumers is primarily driving the global food flavors market.
The sudden outbreak of the COVID-19 pandemic has led to the shifting consumer preferences from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of food flavors.
Based on the type, the global food flavors market has been segmented into natural and artificial. Currently, artificial food flavors represent the largest market share.
Based on the end user, the global food flavors market can be bifurcated into beverages, dairy and frozen products, bakery and confectionery, savory and snacks, and animal and pet food. Among these, beverages account for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.
Some of the major players in the global food flavors market include Archer-Daniels-Midland Company, BASF SE, Corbion N.V., Firmenich SA, Givaudan, International Flavors & Fragrances Inc., Kerry Group plc, Koninklijke DSM N.V., Robertet Group, Sensient Technologies Corporation, Symrise AG, and Takasago International Corporation.
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