Global Flavour Market – Industry Trends and Forecast to 2029

Global Flavour Market, By Type (Chocolate & Browns, Vanilla, Fruit & Nut, Dairy, Spices), Application (Beverages, Dairy, Confectionery, Bakery, Meat, Savory & Snacks), Origin (Natural, Nature Identical, Artificial) – Industry Trends and Forecast to 2029.

Flavour Market Analysis and Size

Superfood's high functionality, combined with the positive perception of the term "natural," has been the primary factor driving market demand for food flavourings. Consumers are drawn to products with simple and understandable labels, prompting food companies to choose food flavourings over other industry alternatives.

Data Bridge Market Research analyses that the flavour market was valued at USD 14.54 billion in 2021 and is expected to reach the value of USD 23.35 billion by 2029, at a CAGR of 6.10% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Flavour Market Scope and Segmentation

Market Definition

Food flavours are primarily used to improve the flavour of food products. Natural and synthetic flavours are examples of flavour additives. The food and beverage industry has a wide range of flavour requirements for various purposes such as adding new product lines, developing new products, and changing existing products' tastes. They are widely used in beverages, meat products, fruits and vegetables, bakery and confectionery, oil and fat, dairy and frozen products, and so on.

Global Flavour Market Dynamics

Drivers

• Inclination of adoption in food and beverage industry

Food flavors are used to flavour beverages, juices, bakery, and confectionary items. The growing demand for natural food flavors in the food and beverage industries is propelling the market forward. Furthermore, as the world's population grows, there is a greater demand for healthy and natural food products that contain fewer or no artificial flavors, preservatives, or additives.

Opportunities

• High penetration of convenience food

Rapid global processed and packaged food demand growth due to an increasing preference for convenient and healthy food products is expected to drive market growth. Furthermore, from 2022 to 2029, the development of advanced technologies to tap niche markets, such as reducing capsule size and increasing bioavailability, as well as government support and improving economic conditions in developing countries, will create new opportunities for the flavour market.

Restraints

• Stringent regulations

Rising stringent regulations and government policies, rising side-effects of added flavours, both natural and synthetic, and decreased beverage production are among the major factors acting as restraints, while rising compliance with quality and regulatory standards will further challenge the flavour market during the forecast period.

This flavour market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the flavour market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Flavour Market

The COVID-19 pandemic has heightened consumers' desire to know where their food comes from, while food affordability remains a major concern for consumers worldwide. Additionally, consumer demand for locally produced food has increased due to their fear of becoming infected due to consuming more imported products with unknown and unspecified ingredient origins. This has benefited both new private label food industry entrants and local natural colourant manufacturers. As the world's scientific and medical communities recommend the use of nutraceuticals to improve health and immunity, which benefits the natural food colourant industry, the situation generates ongoing demands to suppress and, eventually, stifle the global COVID-19 pandemic.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In January 2021, GNT Group introduced EXBERRY Shade Pink - O.D., a new pink shade colouring agent developed for use in fat-based applications under its EXBERRY brand. It also comes in red, yellow, orange, blue, and green flavors.
• In October 2020 Chr. Hansen Natural Flavors established an R&D centre in Montpellier, France, to augment the pigment, formulation, and application capabilities, to introduce new natural colour solutions, particularly for green, blue, and brown hues.
• In September 2019 Givaudan S.A. completed the acquisition of Naturex, one of the leading natural ingredient companies, to supplement its capabilities with a strong portfolio of plant extracts and natural ingredients in the food and beverage, nutrition and health, and personal care sectors.

Global Flavour Market Scope

The flavour market is segmented on the basis of type, origin and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Chocolate & Browns
• Vanilla
• Fruit & Nut
• Dairy
• Spices

Origin

• Natural
• Nature Identical
• Artificial

Application

• Beverages
• Dairy
• Confectionery
• Bakery
• Meat
• Savory & Snacks

Flavour Market Regional Analysis/Insights

The flavour market is analyzed and market size insights and trends are provided by country, type, origin and application as referenced above.

The countries covered in the flavour market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Asia-Pacific dominates the flavour market as a result of rising consumer interest in organic products, rising continuous demand for sweet flavours, rising technological advancements in the flavour industry, and rising trade, investment, and expenditure in this region's processed food and beverage market.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Flavour Market Share Analysis

The flavour market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to flavour market.

Some of the major players operating in the flavour market are:

• DuPont (U.S.)
• ADM (U.S.)
• Kerry Group plc (Ireland)
• International Flavors & Fragrances, Inc. (U.S.)
• Firmenich SA (Switzerland)
• MANE (U.K.)
• Taiyo International (Japan)
• T.Hasegawa Inc (Japan)
• Synergy Flavors (U.S.)
• Sensient Technologies Corporation (U.S.)
• Bell Flavors & Fragrances (U.S.)
• Takasago International Corporation (Japan)
• Keva Flavours Pvt. Ltd. (India)
• Tate & Lyle (U.K.)
• Robertet, McCormick & Company, Inc. (U.K.)
• Wanxiang International Ltd (China)
• TREATT (U.K.)
• China Flavors & Fragrances Co. Ltd. (China)