WILMINGTON, Del., Aug. 1, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Food Flavor
Market by Type (Natural Flavors and Artificial
Flavors) and End User (Beverages, Dairy, Nutrition & Health,
Savory, Sweet Goods, and Others) : Global Opportunity Analysis and
Industry Forecast, 2024-2033". According to the report, the
"food flavor market" was valued at $14.8
billion in 2023, and is estimated to reach $23.8 billion by 2033, growing at a CAGR of 4.9%
from 2024 to 2033.
Prime determinants of growth
The food flavor market is driven by consumer desires for
distinctive flavor sensations, which are fueled by shifting eating
patterns, cultural influences, and the desire for sensory
indulgence. Technological developments in flavor production, such
as innovative extraction techniques and natural ingredient blends,
allow producers to satisfy changing consumer needs while adhering
to legal requirements. Globalization, urbanization, and expanding
disposable incomes are further factors driving market expansion.
This is especially true in emerging economies, where there is a
growing need for a wide range of superior taste solutions due to
increased food processing activities and consumer
sophistication.
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Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base
Year
|
2023
|
Market Size in
2023
|
$14.8
billion
|
Market Size in
2033
|
$23.8
billion
|
CAGR
|
4.9 %
|
No. of Pages in
Report
|
250
|
Segments
Covered
|
Type, End User, and
Region.
|
Drivers
|
Rise In Demand for
Natural and Clean Label Products
|
Growth In Food and
Beverage Industry
|
Technological
Advancements
|
Opportunities
|
E-Commerce And
Digitalization
|
Health And Wellness
Trends
|
Restraints
|
Regulatory
Compliance
|
Health Concerns and
Regulations
|
Segment Highlights
The food flavor market is significantly influenced by
synthetic/artificial flavors, which provide reliable and affordable
flavor profiles for a variety of products. These flavors are
chemically produced to replicate natural flavors and improve the
flavor and aroma of different food and beverage products. Producers
may develop taste profiles that would be costly or difficult to
generate with only natural ingredients because synthetic flavors
are more versatile than natural ones. Synthetic tastes are subject
to strict testing and regulation to adhere tp the strict quality
and safety requirements set by regulatory bodies worldwide, despite
some health and safety concerns.
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Innovation is essential in the beverage sector of the food
flavor market to meet changing consumer preferences and tastes.
There is an increase in demand for natural and exotic flavor
profiles in beverages due to health-conscious customers' desire for
clean label options and distinctive tastes. Citrus, berry, and
tropical fruit flavors are still well-liked, but infusions of herbs
and botanicals are gaining popularity, particularly in the growing
market for functional beverages. The exploration of novel diverse
taste experiences is also encouraged by the growing interest in
ethnic and international cuisines. Manufacturers are utilizing
innovative technologies and flavor modulation techniques to develop
intricate and enticing flavor formulations that improve the
attractiveness of beverages across a variety of categories,
including soft drinks, juices, teas, coffees, and alcoholic
beverages.
Regional Outlook
A diverse landscape influenced by different consumer
preferences, legal frameworks, and economic variables is reflected
in the regional outlook for the food flavor business. North America and Europe lead the market due to demand for
natural and clean-label flavors, strict regulations, and a
flourishing food manufacturing sector. Due to their substantial
consumer bases, China and
India emerge as major drivers of
market expansion in the Asia-Pacific region, which is driven by rapid
urbanization, rising disposable incomes, and shifting dietary
patterns. Latin America, the
Middle East, and Africa exhibit significant potential due to
growing consumer awareness and the food and beverage industry's
expansion.
Players: -
- Firmenich SA
- Frutarom Industries Ltd.
- Givaudan International SA
- Huabao International Holdings Limited
- Kerry Group, Plc.
- Robertet SA
- S H Kelkar and Company Limited.
- Sensient Technologies Corporation
- Symrise AG
- Takasago International Corporation
- Synergy Flavors
The report provides a detailed analysis of these key players in
the global food flavor market. These players have adopted different
strategies such as new product launches, collaborations, expansion,
joint ventures, agreements, and others to increase their market
share and maintain dominant shares in different regions. The report
is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/A00550
Recent Developments:
- In February 2023, a drink with a
lemon-lime flavor was added to the menu by Olipop, a producer of
functional sodas. According to Olipop's philosophy of using
gut-friendly ingredients and classic flavors like root beer, cream
soda, and vintage cola. With just four grams of sugar per can, the
lemon-lime beverage combines the flavor of Key lime pie with a hint
of lemon.
- In March 2023, the launch of
Campa, the renowned beverage brand, was announced by Reliance
Consumer Products Limited (RCPL) , the FMCG division of Reliance
Retail Ventures Limited (RRVL) .
- In May 2022, in New Delhi, Symega Food Ingredients Limited
introduced 'CUISINARY, ' a line of high-end culinary solutions for
professional kitchens that includes flavor enhancers, coatings,
sauces, and spices.
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and analysts in the industry.
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