FOOD FLAVOR MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global food flavor market is segmented by Type (Natural Flavor, Synthetic Flavor, and Nature Identical Flavoring), by Application (Dairy, Bakery, Confectionery, Snack and Beverage, and Other Applications), and by Geography.

Market Snapshot

market summ
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Middle East and Africa
Largest Market: Europe
CAGR: 4.8 %

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Market Overview

Global food flavor market is projected to grow at a CAGR of 4.8% during the forecast period.

  • The increasing demand for natural ingredients in food products is the primary factor driving the market. Globally, consumers are becoming more concerned about the long-term health effects of artificial ingredients and additives in food products.
  • Other major drivers in the market are increasing demand for processed foods and beverages (with growing disposable incomes), rising demand in various food applications, and the growing popularity of exotic flavours. The increasing product launches related to exotic and unique flavours are further driving the demand for compounded flavours. 
  • However, the high cost involved in the production of natural flavours is the major restraining factor for the market. Additionally, natural flavours are less stable, thereby decreasing the shelf life of products.

 

Scope of the Report

The food flavour market report includes study on segmentation by type into the natural flavour, synthetic flavour, and nature-identical flavouring. On the basis of application, the market has been segmented into dairy, bakery, confectionery, snack and beverage, and other applications. The study also covers the global level analysis of the major regions North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

By Type
Natural Flavor
Synthetic Flavor
Nature Identical Flavoring
By Application
Dairy
Bakery
Confectionery
Snack
Beverage
Other Applications
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Rising Demand for Natural Ingredients

A significant number of consumers have gained interest toward purchasing clean label goods, which offer a wide scope for naturally sourced ingredients, hence propelling the demand for natural food flavors. In order to address the growing demand for natural flavors, manufacturers are offering products free from artificial flavorings and gradually shifting toward natural ingredients. Continuing interest in foods with exotic or ethnic flavors is one of the key factors driving the demand for natural flavor blends. In recent years, artificial flavorings, such as benzophenone, ethyl acrylate, pyridine, and styrene, are identified as carcinogens, and thus, are being replaced by natural flavorings across the global market.

Food Flavor Market 1

Europe Holds the Major Share in Food Flavor Market

The United Kingdom continues to dominate the natural food flavors market as there is a continuous demand for organic products in the country. For instance, the sales of organic foods and drinks in the United Kingdom increased with significant rate from last few years. One in every three products that are launched in the United Kingdom contains natural food ingredients, including natural flavors. In France, the food and beverage industry has witnessed a reduction in synthetic food flavors due to the increasing application of natural flavors in beverages and the bakery and confectionery industry. In China, the food flavors witnessed significant growth rates in the last decade, owing to the increased demand and the growing food and beverage industry. With the growing acceptance of frozen and processed food, the flavor manufacturers have many opportunities to extend their brands and strengthen connections with the Brazilian consumers. 

Food Flavor Market 2

Competitive Landscape

The food flavor market is consolidated. Kerry Group, Cargill Inc., and BASF are few key players present in the market. Major companies are adopting strategies, such as introducing clean label and organic flavor ranges, and acquiring and partnering with local players to increase market penetration in the untapped markets. For instance, in 2017, Firmenich has officially launched its Protein Shield Flavors, a new line of natural flavor solutions aimed to help developers address the challenges they face when creating beverage products with high protein content. Some of the other prominent players present in the food flavor market include Givaudan, Firmenich, Symrise Ag, Takasago, and Sensient. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Natural Flavor

      2. 5.1.2 Synthetic Flavor

      3. 5.1.3 Nature Identical Flavoring

    2. 5.2 By Application

      1. 5.2.1 Dairy

      2. 5.2.2 Bakery

      3. 5.2.3 Confectionery

      4. 5.2.4 Snack

      5. 5.2.5 Beverage

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Most Active Companies

    4. 6.4 Company Profiles

      1. 6.4.1 Koninklijke DSM NV

      2. 6.4.2 Kerry Group PLC

      3. 6.4.3 BASF SE

      4. 6.4.4 Archer Daniels Midland (ADM)

      5. 6.4.5 Givaudan

      6. 6.4.6 Firmenich SA

      7. 6.4.7 Corbion NV

      8. 6.4.8 Sensient Technologies

      9. 6.4.9 Symrise AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The FOOD FLAVOR MARKET market is studied from 2016 - 2026.

The FOOD FLAVOR MARKET is growing at a CAGR of 4.8% over the next 5 years.

Middle East and Africa is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

Kerry Group PLC, Givaudan, Archer Daniels Midland Company, Firmenich, Symrise AG are the major companies operating in FOOD FLAVOR MARKET.

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