Global Flavor Systems Market By Overview
Introduction:
Flavor Systems Market was valued at US$ 6.3 Billion in 2020 and is projected to grow at a CAGR of 5.7% to reach US$ 10.32 Billion by 2030.
The flavour system market is meant to serve the requirements of the food industry as well as the personal care, cosmetic, and nutraceutical sectors. The combination of several substances, such as flavoring agents, flavour transporters, flavour enhancers, preservatives, emulsifiers, and stabilizers, is referred to as a flavoring system. Alcoholic and non-alcoholic beverages can have their flavour or taste enhanced with the help of these additives. This technique is used to alter the flavors of different natural food products or to provide flavour to food items that are flavorless. Some volatile compounds are used in the flavour mixing process. Additionally, a growing number of food service establishments, including hotels, cafes, and restaurants, are now using these chemicals, creating new opportunities for the flavour system industry.
Global Flavor Systems Market By Dynamics
The market in Europe currently dominates the market for flavor systems and is expected to continue its strong hold for a few more years owing to increasing consumption of confectionery, bakery, and savories & snack products, coupled with growing demand for variety in these products which in turn further creating demand for flavor systems, in the countries of the region.
The markets in Asia-Pacific and North America are expected to register significant growth rate, owing to the growing food and beverages industries which in turn creating demand for flavor systems in the region, over the forecast period.Moreover, increasing innovations in flavor systems for various food applications has resulted in new food product development and this factor has increased flavor system consumption across the globe. However, limited extraction of the raw materials from the natural sources is major factor expected to hamper growth of the flavor systems market over the forecast period.
Global Flavor Systems Market By Segmentation
The flavor systems market has been segmented on the basis of type, application, source, form, and region.
The type segment includes brown, dairy, herbs & botanicals, and fruits & vegetables.The application segment is further sub segmented into beverages, savories & snacks, bakery & confectionery products, dairy & frozen desserts.
On the basis of source the flavor systems market has been segmented as nature-identical flavors, artificial flavors, and natural flavors. The form liquid and dry segment includes.
Regional Insights:
On the basis of region the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Europe is expected to account major market share as compared to that of other regions.
Global Flavor Systems Market By Key Players
Key players operating in the flavor systems market includes Givaudan, International Flavors & Fragrances (IFF), Firmenich, Symrise, Frutarom, Sensient, Mane Sa, Takasago, Robertet, and Tate & Lyle.
FAQs
The flavor systems market has been segmented on the basis of type, application, source, form, and region.
However, limited extraction of the raw materials from the natural sources is major factor expected to hamper growth of the global flavor systems market over the forecast period.
On the basis of region the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Europe is expected to account major market share as compared to that of other regions.
Key players operating in the global flavor systems market includes Givaudan, International Flavors & Fragrances (IFF), Firmenich, Symrise, Frutarom, Sensient, Mane Sa, Takasago, Robertet, and Tate & Lyle.