The global Food Flavor Market size is expected to grow from USD 18.0 billion in 2022 to USD 21.3 billion by 2027 at a CAGR of 3.5 % from 2022 to 2027.
Growing consumer knowledge of their eating habits is a direct cause of the rising demand for food flavors for a key innovative trend in the food space, such as plant-based meat alternatives, plant-based dairy, plant-based ice creams, etc. One of the biggest consumer concerns and a key reason why individuals are thinking about integrating plant-based meals into their diet is environmental well-being, wherein the key challenge of manufacturers is to retain the familiar taste of traditional products that consumers are habitual, this, in turn, is driving demand for the food flavors to rope in to address the challenge, ultimately driving the demand.
As per the report, the food flavors market can be evaluated primarily on types of flavors, by labeling/regulation, by form, and by application. The report also highlights analysis for key regions such as North America, Europe, South America, APAC, and the Middle East & Africa. Furthermore, the following flavors are evaluated across regions:
- Chocolate & brown (dark chocolate, milk chocolate, white chocolate, and caramel)
- Vanilla (Bourbon-Madagascar Vanilla, Mexican Vanilla, and Tahitian Vanilla)
- Fruits & Nuts such as Citrus (Orange, Lime, and Other Citrus Fruits), Tree Fruits, Tropical & Exotic Fruits, Berries, and Other Fruits
- Dairy flavors such as milk, butter, cream, yogurt, cheese, and other dairy flavors
- Spices & savory such as essential oils & oleoresins, vegetable flavors, meat flavors, other spices & savory
- Mint and other flavors
FACTORS THAT ARE DRIVING THE DEMAND FOR THE FOOD FLAVORS MARKET
- Growing consumer knowledge of their eating habits is a direct cause of the rising demand for food flavors for a key innovative trend in the food space, such as plant-based meat alternatives, plant-based dairy, plant-based ice creams, etc. One of the biggest consumer concerns and a key reason why individuals are thinking about integrating plant-based meals into their diet is environmental well-being, wherein the key challenge of manufacturers is to retain the familiar taste of traditional products that consumers are habitual, this, in turn, is driving demand for the food flavors to rope in to address the challenge, ultimately driving the demand.
- The consumer demand for international flavors has been sparked by aggressive marketing tactics, globalization, and market liberalization. Consumers want to experience a variety of flavors and cuisines that claim to be “natural” and “safe” without expending excessive time and effort.
- The demand for natural flavors is rising as customers increasingly choose meals and beverages with natural tastes and product formulations for health advantages, from blueberry-flavored protein drinks to chocolate- and rose-flavored teas.
- Flavor and aroma companies are achieving unprecedented levels in their pursuit to create appealing flavors and aromas for food products due to the abrupt but steady move toward alternative products.
North America dominated the food flavors market in 2021
North America is the largest market for food flavors owing to the growing demand for processed and functional food products influenced by the hectic lifestyle and changing eating habits of the consumers in this region. The growth could be attributed to its ever-expanding food & beverage processing industry and the increasing popularity of functional foods. North America harbors some of the leading food and beverage manufacturing companies, such as ADM, Sensient, and Synergy Flavors, continuously upgrading their product portfolios to maintain their position as key players in the food flavors market, boosting the growth of the same. Presence of companies such as ADM (US), International Flavors & Fragrances Inc. (US), Sensient Technologies Corporation (US), Synergy Flavors, Inc. (US) in the North American region contributes to the dominant position of the region.
0
