Food Flavors Market:
The GMI Research’s latest analysis reveals that the Electric Traction Motor Market is slated to register a significant CAGR over the forecast period. This is attributed to the rising application of food flavors across several food items and the growing acceptability of consumers as a natural flavor.
Food Flavors Market’s leading Manufacturers:
- Givaudan
- International Flavors & Fragrances
- Kerry Group
- Cargill Inc.
- Symrise
- Firmenich SA
- Corbion
- Takasago International Corporation
- Sensient Technologies Corporation
- MANE
Food Flavors Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The increasing health concerns among consumers towards the consumption of natural food products is one of the major factors surging the growth of the global food flavors market size. The rising application of food flavors across several food items and the growing acceptability of consumers as natural flavor are some other factors driving the growth of the food flavors market. Numerous multinational organizations are majorly emphasizing the development of exotic and exceptionally delicious food flavors, which will further attract many consumers to opt for food flavors to improve their food’s overall taste. Additionally, the rising demand for convenient food products, the drastically changing lifestyle of consumers, and the coming of innovative, safe, and attractive packaging, including self-chilling beverage cans, will further bring lucrative opportunities to the market. On the other hand, the reduced shelf-life of the ingredients used in the food flavors and the high cost included in the production of natural flavors are the factors hindering the growth of the market in the upcoming years.
Application Segment Drivers
Based on the Application, the market is segmented into dairy products, beverages, confectionery products, meat products, baked products, frozen products, and savory & snacks. The Beverage is anticipated to dominate the market during the forecast period due to the continuous rise in the beverage sector owing to different consumer tastes and preferences. The beverage industry majorly utilizes flavors, such as high fructose corn syrup (HFCS), sucralose acid, citric acid, phosphoric acid, and malic acid. The strong demand for natural flavors among the consumers is promoting the manufactures for adopting natural flavors to cater to the significantly changing demand of the target audience.
Regional Drivers
Based on the region, South America is predicted to dominate the market in the coming years due to the increasing consumption of nutritional beverages and soft drinks in Argentina and Brazil. The fundamentally changing food habits of the consumers and the rapid urbanization will further bolster the demand for packaged food products, thus contributing to the growth of the food flavors market. Additionally, the rising per capita income and the growing production rate will further boost the markets’ demand during the forecast period.
Food Flavors Market Segmentation:
Segmentation by Type:
- Chocolate & brown flavors
- Vanilla
- Fruits & nuts
- Dairy
- Spices
- Others
Segmentation by Application:
- Beverages
- Hot Drinks
- Soft Drinks
- Alcoholic Drinks
- Other Drinks
- Dairy Products
- Ice Cream
- Other Dairy Products
- Confectionery Products
- Chocolates
- Other Confectionery Products
- Baked Products
- Meat Products
- Savory & Snacks
- Frozen Products
Segmentation by Origin:
- Natural
- Nature Identical
- Artificial/ Synthetic
Segmentation by Form:
- Liquid
- Dry
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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