Global Food Flavors Market
By Origin (Synthetic, Natural), By Type (Fruits and Nuts, Chocolate, Vanilla, Others), By Application (Savory & Snacks, Dairy & Frozen Products, Beverages, Bakery & Confectionery), Others, By Region (North America, Europe, Asia-Pacific, Rest of the World). and Market Size, Status and Forecast to 2027
The Global Food Flavors Market was valued at 16.92 billion in 2019 and is projected to reach USD37.67 billion by 2027, growing at a CAGR of 11.35% from 2020 to 2027.
The five tastes that are universally accepted are sweet, bitter, sour, salty and savory. There are numerous food additives added to the food and beverages to make the products look more appealing and tastier. Natural and synthetic are the two flavors that food is segmented into. A mixture of volatile chemicals are used to prepare different kinds of flavors. Apart from food industry, flavors are also used in oral care industries and pharmaceuticals.
1. Market Drivers
1.1 Rising demand for healthy food items (Clean Label Products).
1.2 Ready to eat meals can increase among different consumers.
1.3 Better technology and innovative ideas.
2. Market Restraints
2.1 Health issues related to natural and synthetic flavors.
2.2 Low availability of natural flavors in the market.
The Food Flavors Market is segmented on the basis of origin, application, type and region.
1. By Origin:
2. By Type :
2.1 Fruits and Nuts
3. By Application:
3.1 Savory & Snacks
3.2 Dairy & Frozen Products
3.4 Bakery & Confectionery
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Rest of World
The major players in the market are as follows:
1. Wild Flavors GmbH
2. Symrise AG
3. V. Mane Fils SA
4. Frutarom Industries Ltd.
5. Firmenich SA
6. Givaudan SA
7. Takasago International Corporation
8. Kerry Group PLC
9. Sensient Technologies Corporation
10. International Flavors & Fragrances Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Food Flavors Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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