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Food Flavors Market

Key Trends In Global Natural Food Flavors Market

Natural food flavors market – A little description

Food flavors add taste and fragrance to the food and the first recorded history of adding flavors to food dates back to the time when ancient Egyptians used to produce essential oils by extracting flavors from different types of herbs and plants. However, the first artificially flavored candy in modern era was exhibited in London’s Crystal Palace in 1851. By the end of 19th century, there were about 20 types of basic artificial flavors in the Global Natural Food Flavors Market.

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The Germans and Swiss businesses during the 1800s were the first to expand flavor market significantly through the development of synthetic, aromatic chemicals that formed the foundation or basis for many new or modern artificial food flavors. As of now, the global natural food flavors market is estimated to be valued at US $12.75 billion in 2016 and is expected to reach to US $16.86 billion by the end of 2021 with a CAGR of 5.75% as per the recent food flavors market forecast.

Food Flavors Market Trends – A glance on recent trends

An increasing consumer demand for more natural products driven by health concerns pertaining to artificial ingredients in addition to transparency in labeling is driving the demand for flavors and fragrances in the global natural food flavors market. The food flavors market is highly technical, specialized and innovative and the industry itself is highly competitive and concentrated when compared to other product categories within the food and beverage market.

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In developing economies, growing personal consumption expenditure is expected to drive demand for flavor and fragrance containing goods such as packaged foods, cosmetics, and toiletries that support growth in flavor blends and fragrance blends. The recent trend among the industry leaders, consumers, retailers and food manufacturers are savory flavors even though consumers enjoy experimenting with new taste sensations with strong preferences for the comforts of traditional flavors.

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As per food flavor market analysis, there is a growing demand for organic food products due to rise in the purchasing power of the global population, which is driving the growth of the global natural food flavors market. A high demand of new flavors from food and beverage industry and contentious innovation is also popping up the need for bringing in new products to the market. Dairy products are becoming more important for the flavors industry contributing to a rapid growth in food flavors market size.

Market Segmentation of food flavors market- An overview

The food flavors industry is highly segmented with very country specific and complex with product formulations and flavors varying from nation to nation as well as from region to region within the countries. The processed foods, their flavors and textures are adapted to local consumer preferences as local or traditional foods have unique flavors evolving from the indigenous climate, region etc. The global natural food flavors market is segmented based on the application, type and source/origin with each segmented further subdivided into categories or divisions as mentioned in the table below.

Application

Type Source or Origin

Beverages

Chocolate Natural

Savory

Vanilla

Synthetic

Snacks & Savory

Fruits

Bakery

Nuts

Confectionary

Dairy

Frozen Products

 

Figure.1 –Segmentation of Global Natural Food Flavors Market

The beverages (Soft drinks) flavors product segment has the largest global flavors market share in terms of revenue closely followed by bakery and confectionary and then by savory and snacks segment. In terms of geographical distribution, the global market for food flavors market is divided or segmented into regions such as North America, Asia-Pacific, Latin America, Europe, Africa and Middle East. The North American market is the biggest in terms of global flavors market share followed by Europe.

However, in terms of absolute growth the food flavors market in the Asia-Pacific region especially, China is expected to lead the way due to an increased consumption of dairy products that include flavored milk products. With an increase in the global tourism, new ethnic flavors will emerge in many countries and regions across the globe.

The major players or leaders in the global natural food flavors market include- Givaudan (Switzerland), IFF (United States), Symrise AG (Germany), Takasago (Japan), Mane (France), Frutarom (Israel) Sensient Technologies Corporation (United States).

The global natural food flavors market is shown in a pie chart diagram in terms of percentage share of each segment (product wise) is depicted below for the readers.

Global Food Flavors Market
Figure- 2 – Segmentation of Global Food Flavors Market in % terms

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