Global Food and Beverage Flavors Market - High demand for new flavors, fast food industries, and continuous innovation have driven the global target market

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Published Date: May 2023

The food and beverage flavors market accounted for US$ 16.1 billion in 2019 and is estimated to be US$ 25.7 billion by 2029 and is anticipated to register a CAGR of 4.5%.

The report "Global Food and Beverage Flavors Market, By Type (Natural and Artificial (Synthetic)), By Application (Food Industry and Beverages), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In October 2017, Firmenich has introduced its Protein Shield Flavors, a new line of natural flavor solutions. This launch targets the high protein content in the beverages.
In May 2018, Firmenich partnered with Nelixia, a Mexican flavor company. This partnership enables the company to enhance its quality of natural flavor ingredients across the North America.

Analyst View:

Rising demand of beverage flavor market with growing demand for dynamic flavors in beverages

The increasing demand for a variety of innovative flavors in beverages helps to propel the beverage flavor market. Currently consumers preferred more healthy and nutritious food and beverages which helps to boost the market for natural and organic flavors in the beverage flavor manufacturing. Rising technological advancement in the flavor processing industry helps to innovate a variety of flavors for alcoholic as well as non-alcoholic beverages, thus fueling growth of the target market.

Numerous beverage manufacturing companies are promoting health products which are tropical vegetable-based flavors and fruit flavors. Consumer preference towards natural ingredients has attributed to the growth of the demand for products including natural additives such as natural flavors. Similarly, increasing demand of clean-label products particularly in Western countries is influencing food and beverage manufactures to shift their portfolio from artificial ingredients to all-natural claims or non-additives claims, which is further anticipated to propel adoption of natural flavors.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Food and Beverage Flavors Market”, By Type (Natural and Artificial (Synthetic)), By Application (Food Industry and Beverages), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:

The global food and beverage flavors market accounted for US$ 16.1 billion in 2019 and is estimated to be US$ 25.7 billion by 2029 and is anticipated to register a CAGR of 4.5%. The market report has been segmented on the basis of type, application, and region.

By type, the global food and beverage flavors market is segmented into natural and artificial (synthetic). Artificial flavor segment is dominating the target market in 2019, owing to higher cost and lack of stringency on regulating the use of natural flavors as compared to artificial flavors.
By application, the target market is classified into food industry and beverages. Changing lifestyles and increasing demand of convenient, on-the-go food products are key factors boosting majority of growth in the food industry sector across the globe.
By region, Asia-Pacific is projected to register stable growth in the demand of artificial flavors mainly by unorganized food and beverage sector, which accounts substantial share particularly in high growth markets such as India. Additionally, lack of stringency on regulating the use of natural flavors and higher cost in this region are other key factors boosting adoption of artificial flavors. However, along with rising consumer awareness the demand of natural flavors is predicted to register strong growth particularly in high volume markets such as China and Southeast Asian countries.

Competitive Landscape:

The prominent player operating in the global food and beverage flavors market includes Firmenich SA, Frutarom Industries Ltd., Kerry Group, Givaudan SA, V. Mane Fils SA, Huabao International Holdings Limited, International Flavors & Fragrances Inc., Plc., Robertet SA, Sensient Technologies Corporation, and Symrise AG.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period