Food Flavors Market Insights and Growth by 2031
The food flavors market is expected to register a CAGR of 5% during 2023–2031. The rising consumer preference for natural, organic, and clean label products and rising interest in plant-based alternatives are likely to remain a key trend in the market.
Food Flavors Market Analysis
- The industry has witnessed a major shift towards natural and clean label flavors in the recent past, due to the shift in consumer preference for healthier products that have fewer artificial ingredients.
- Given this consumer trend, the flavors houses are trying to continuously innovate in research and product development to offer novel flavors profiles and improve on existing ones.
- The market is highly fragmented with large multinationals and smaller companies offering several unique flavors with a niche market base, striving for a larger market share in their respective segments.
- Technological improvements in food flavors have been generous, providing scope for many new products. Innovations in biotechnology are being harnessed for flavors isolation and production of cheaper and safer ingredients for the flavors industry.
Food Flavors Market Overview
- The food flavors market has been witnessing a robust growth, with constant increase in consumer demand for diverse and innovative taste experiences.
- Based on their type, the food flavors market is broadly categorised into natural flavors and artificial flavors.
- The global food flavors market has an wide range of flavors that includes natural and synthetic flavors. These flavors are used across a large variety of food and beverage categories including bakery products, beverages, confectionery, dairy products, functional food and beverages, catering industry, processed food, pharmaceuticals, cigarettes, and many others.
- In addition, the market is driven by the significant increase in people’s disposable income, vast cultural changes, the growing consumption of convenience foods and, of course, flavors expectations arising from novel food products entering the marketplace.
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Food Flavors Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Food Flavors Market: Strategic Insights
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Food Flavors Market Drivers and Opportunities
Consumers' changing lifestyles is expected to drive the growth of the food flavors market
- Fast-paced modern life stimulates rapidly growing demand for fast ready to eat meals and snacks, which consequently drives the development of new, taste-enhancing flavors for processed food products that maintain high quality taste for a longer time.
- The rising wave of consumer health consciousness has made people want to opt for healthier foods that are equally flavourful. This in turn has further increased the demand for natural flavours, low-calorie sweeteners and flavours that can make health foods more appealing.
- Consumers, particularly younger generations, are more adventurous with their food choices and eager to try new flavor experiences.
Rise in the processed food utilization
- Processed foods rely heavily on flavors to enhance taste, mask off-notes, and ensure consistency of flavor across batches. As consumption of these foods increases, so does the demand for diverse and high-quality flavors.
- This trend drives innovation in flavor development, especially for solutions that can withstand various processing methods while maintaining taste integrity.
- Additionally, with consumers seeking healthier processed options, flavor companies are challenged to create natural and clean-label alternatives.
- This opens up new market segments for flavors that can improve the taste of reduced-fat, low-sugar, or nutrient-fortified processed foods, further expanding opportunities in the food flavors market. Copy.
Food Flavors Market Report Segmentation Analysis
Key segments that contributed to the derivation of the food flavors market analysis are type and end user.
- Based on type, the food flavors market is segmented into natural flavors, artificial flavors.
- Based on end user, the food flavors market is segmented into beverages, dairy and frozen products, bakery and confectionery, savory and snacks, animal and pet food, and others.
Food Flavors Market Share Analysis by Geography
- Food Flavors Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering food flavors market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the food flavors market in these regions.
Food Flavors Market Report Scope
Food Flavors Market News and Recent Developments
The food flavors market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the food flavors market are listed below:
- GoodPop introduced two new flavors of its no added sugar Junior Pops — Mango and Strawberry. Junior Pops are made with 100% fruit juice and no high fructose corn syrup, alternative sweeteners, or artificial flavors and dyes. (Source: Newsletter, GoodPop, Feb 2024)
- Global nutrition leader, ADM, announced today that it has completed its acquisition of Comhan, a leading South African flavor distributor. (Source: Newsletter, ADM, Feb 2022)
Food Flavors Market Report Coverage and Deliverables
The “Food Flavors Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Food flavors market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Food flavors market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Food flavors market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the food flavors market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global food flavors market is expected to grow at a CAGR of 5% during the forecast period 2023 - 2031.
Rise in the changing consumer preferences is expected to drive the growth of the food flavors market.
Rising interest in plant-based alternatives to play a significant role in the global food flavors market in the coming years.
The leading players operating in the food flavors market are Firmenich SA; Frutarom; Givaudan; International Flavors & Fragrances Inc.; Mane; ROBERTET SA; Sensient Colors LLC; Symrise; T.HASEGAWA CO., LTD.; Takasago International Corporation.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Food Flavors Market - By Type
1.3.2 Food Flavors Market - By End User
1.3.3 Food Flavors Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. FOOD FLAVORS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. FOOD FLAVORS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. FOOD FLAVORS MARKET - GLOBAL MARKET ANALYSIS
6.1. FOOD FLAVORS - GLOBAL MARKET OVERVIEW
6.2. FOOD FLAVORS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FOOD FLAVORS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. NATURAL FLAVORS
7.3.1. Overview
7.3.2. Natural Flavors Market Forecast and Analysis
7.4. ARTIFICIAL FLAVORS
7.4.1. Overview
7.4.2. Artificial Flavors Market Forecast and Analysis
8. FOOD FLAVORS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. BEVERAGES
8.3.1. Overview
8.3.2. Beverages Market Forecast and Analysis
8.4. DAIRY AND FROZEN PRODUCTS
8.4.1. Overview
8.4.2. Dairy and Frozen Products Market Forecast and Analysis
8.5. BAKERY AND CONFECTIONERY
8.5.1. Overview
8.5.2. Bakery and Confectionery Market Forecast and Analysis
8.6. SAVORY AND SNACKS
8.6.1. Overview
8.6.2. Savory and Snacks Market Forecast and Analysis
8.7. ANIMAL AND PET FOOD
8.7.1. Overview
8.7.2. Animal and Pet Food Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. FOOD FLAVORS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Food Flavors Market Overview
9.1.2 North America Food Flavors Market Forecasts and Analysis
9.1.3 North America Food Flavors Market Forecasts and Analysis - By Type
9.1.4 North America Food Flavors Market Forecasts and Analysis - By End User
9.1.5 North America Food Flavors Market Forecasts and Analysis - By Countries
9.1.5.1 United States Food Flavors Market
9.1.5.1.1 United States Food Flavors Market by Type
9.1.5.1.2 United States Food Flavors Market by End User
9.1.5.2 Canada Food Flavors Market
9.1.5.2.1 Canada Food Flavors Market by Type
9.1.5.2.2 Canada Food Flavors Market by End User
9.1.5.3 Mexico Food Flavors Market
9.1.5.3.1 Mexico Food Flavors Market by Type
9.1.5.3.2 Mexico Food Flavors Market by End User
9.2. EUROPE
9.2.1 Europe Food Flavors Market Overview
9.2.2 Europe Food Flavors Market Forecasts and Analysis
9.2.3 Europe Food Flavors Market Forecasts and Analysis - By Type
9.2.4 Europe Food Flavors Market Forecasts and Analysis - By End User
9.2.5 Europe Food Flavors Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Food Flavors Market
9.2.5.1.1 Germany Food Flavors Market by Type
9.2.5.1.2 Germany Food Flavors Market by End User
9.2.5.2 France Food Flavors Market
9.2.5.2.1 France Food Flavors Market by Type
9.2.5.2.2 France Food Flavors Market by End User
9.2.5.3 Italy Food Flavors Market
9.2.5.3.1 Italy Food Flavors Market by Type
9.2.5.3.2 Italy Food Flavors Market by End User
9.2.5.4 United Kingdom Food Flavors Market
9.2.5.4.1 United Kingdom Food Flavors Market by Type
9.2.5.4.2 United Kingdom Food Flavors Market by End User
9.2.5.5 Russia Food Flavors Market
9.2.5.5.1 Russia Food Flavors Market by Type
9.2.5.5.2 Russia Food Flavors Market by End User
9.2.5.6 Rest of Europe Food Flavors Market
9.2.5.6.1 Rest of Europe Food Flavors Market by Type
9.2.5.6.2 Rest of Europe Food Flavors Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Food Flavors Market Overview
9.3.2 Asia-Pacific Food Flavors Market Forecasts and Analysis
9.3.3 Asia-Pacific Food Flavors Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Food Flavors Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Food Flavors Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Food Flavors Market
9.3.5.1.1 Australia Food Flavors Market by Type
9.3.5.1.2 Australia Food Flavors Market by End User
9.3.5.2 China Food Flavors Market
9.3.5.2.1 China Food Flavors Market by Type
9.3.5.2.2 China Food Flavors Market by End User
9.3.5.3 India Food Flavors Market
9.3.5.3.1 India Food Flavors Market by Type
9.3.5.3.2 India Food Flavors Market by End User
9.3.5.4 Japan Food Flavors Market
9.3.5.4.1 Japan Food Flavors Market by Type
9.3.5.4.2 Japan Food Flavors Market by End User
9.3.5.5 South Korea Food Flavors Market
9.3.5.5.1 South Korea Food Flavors Market by Type
9.3.5.5.2 South Korea Food Flavors Market by End User
9.3.5.6 Rest of Asia-Pacific Food Flavors Market
9.3.5.6.1 Rest of Asia-Pacific Food Flavors Market by Type
9.3.5.6.2 Rest of Asia-Pacific Food Flavors Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Food Flavors Market Overview
9.4.2 Middle East and Africa Food Flavors Market Forecasts and Analysis
9.4.3 Middle East and Africa Food Flavors Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Food Flavors Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Food Flavors Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Food Flavors Market
9.4.5.1.1 South Africa Food Flavors Market by Type
9.4.5.1.2 South Africa Food Flavors Market by End User
9.4.5.2 Saudi Arabia Food Flavors Market
9.4.5.2.1 Saudi Arabia Food Flavors Market by Type
9.4.5.2.2 Saudi Arabia Food Flavors Market by End User
9.4.5.3 U.A.E Food Flavors Market
9.4.5.3.1 U.A.E Food Flavors Market by Type
9.4.5.3.2 U.A.E Food Flavors Market by End User
9.4.5.4 Rest of Middle East and Africa Food Flavors Market
9.4.5.4.1 Rest of Middle East and Africa Food Flavors Market by Type
9.4.5.4.2 Rest of Middle East and Africa Food Flavors Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Food Flavors Market Overview
9.5.2 South and Central America Food Flavors Market Forecasts and Analysis
9.5.3 South and Central America Food Flavors Market Forecasts and Analysis - By Type
9.5.4 South and Central America Food Flavors Market Forecasts and Analysis - By End User
9.5.5 South and Central America Food Flavors Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Food Flavors Market
9.5.5.1.1 Brazil Food Flavors Market by Type
9.5.5.1.2 Brazil Food Flavors Market by End User
9.5.5.2 Argentina Food Flavors Market
9.5.5.2.1 Argentina Food Flavors Market by Type
9.5.5.2.2 Argentina Food Flavors Market by End User
9.5.5.3 Rest of South and Central America Food Flavors Market
9.5.5.3.1 Rest of South and Central America Food Flavors Market by Type
9.5.5.3.2 Rest of South and Central America Food Flavors Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. FOOD FLAVORS MARKET, KEY COMPANY PROFILES
11.1. FIRMENICH SA
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. FRUTAROM
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GIVAUDAN
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. INTERNATIONAL FLAVORS AND FRAGRANCES INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MANE
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. ROBERTET SA
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SENSIENT COLORS LLC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SYMRISE
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. T.HASEGAWA CO., LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TAKASAGO INTERNATIONAL CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Firmenich SA
2. Frutarom
3. Givaudan
4. International Flavors and Fragrances Inc.
5. Mane
6. ROBERTET SA
7. Sensient Colors LLC
8. Symrise
9. T.HASEGAWA CO., LTD.
10. Takasago International Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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