Food Flavors Market By Application (Food); By Type (Chocolate & brown, Vanilla, Fruit & nut, Dairy, Spices & savory, other flavors) By Origin (Natural, Natural-identical, Artificial/Synthetic) and ByForm (Gel, Dry) -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Food Flavors Market grew to USD 13.9 billion in 2021 and is projected to reach USD 22.1 billion by 2030 recording a CAGR of 5.30%.
Food Flavors are materials derived from various sources that add taste and flavor to a food product. They are derived from different sources and are bifurcated into natural and artificial. Where, natural flavors are manufactured from edible sources such as fruits, leaves, and vegetables, artificial flavors are manufactured in labs with harmful chemicals which can have harmful ill effects on the human body.
Food Flavors Market is expected to project a CAGR of 5.30% during the forecast period, 2021-2030
High demand for processed and comfort food, as well as increased consumption of bakery items, are propelling the growth of the food flavors market. New technological advancements and innovative experimenting also increase market growth.
Food can be categorized as dairy products, confectionery, bakery products, meat products, and beverages. The food and beverage sector is anticipated to have the highest revenue in the forecasted period due to the increased demand for soft drinks, nutritional drinks, flavored drinks, and fruit juices.
it can be subcategorized as follows, Chocolate & brown, Vanilla, Fruit & nut, Dairy, Spices & savory and other flavors. Spices and savory are anticipated to have the highest growth in the market.
it can be further divided into natural, natural-identical, and artificial. The natural identical flavoring is less expensive and gives a great opportunity for manufacturers of flavors to increase the market growth.
Rise in population and awareness to increase the market growth
Increased population and their interest in the purchase of clean label goods with a wider scope for naturally sourced ingredients are expected to increase the demand for the food flavors market. For meeting the increased demand, the production of artificial free flavors and natural ingredients production has increased. Usage of food flavors in both residential as well as commercial places is also a major growth driver of the market.
Legal obligation acts as a restraint in the market
The government has set up various regulatory standards for the usage of food flavors for the safety of consumers and thus it acts as a restraint in the food flavors market. Instability and the high cost of flavors also hamper the market growth.
Global Food Flavors Market is expected to observe high growth in the European region because of the awareness about clean label goods with naturally sourced ingredients. APAC is likely to emerge as a key region during the forecasted period due to the high production level and growing population in developing countries such as India, China, and Japan.
Business Strategy, Key Product offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Food Flavors Market size was estimated at USD 13.9 billion in 2021 and is expected to reach USD 22.1 billion by 2031.
International Flavors and Fragrances (IFF), Frutaro, Givaudan, Mane, Robertet, Sensient, Symrise, T. Hasegawa, Takasago.
By Type and By Origin are anticipated to hold the largest Food Flavors Market
Drivers: Rise in population and awareness to increase the market growth
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