North America Natural Berry Flavor Market

North America Natural Berry Flavor Market Analysis Report 2022 - 2027

North America Natural Berry Flavor Market is predictable at USD xx.xx million in 2021 and is estimated to be over USD xx by the end of the assessment period. The North America Natural Berry Flavor Market is likely to knowledge reasonable growth highest of a CAGR of xx.xx% through the estimated period (2022 - 2027).

Berries are fleshy, stoneless fruits and are generally produced from a single flower that has an ovary. Berries are considered one of the juiciest types of food due to their large amount of water and their delicious smell. Berries are rich in vitamin C and contribute to radiant skin and healthy hair. These components of the berries are known to be beneficial for the skin. Also, they smell good. Vitamin C is a powerful antioxidant found in berries.

Recent Developments

1. Synergy focused primarily on sweet flavors for the beverage, nutrition, confectionery, dairy, and plant categories, making the acquisition of the savory flavor specialist Innova a way to complete its offering. Synergy President and CEO Rod Sowders said in a statement. According to a study by the NPD Group, about 89% of plant-based food consumers eat meat, making them an informed public. The flavor and texture must match for a product to be successful.
2. Berry Plastics Group, Inc. and AVINTIV Inc. declared that they had come into a conclusive contract for Berry Plastics to purchase AVINTIV from managed private equity funds by The Blackstone Group LP for approximately $ 2.45 billion in cash debt and cash basis. Berry Plastics has secured debt financing to fund the transaction and plans to use strong and recession-resistant free cash flow from the combined operations to reduce leverage due to the transaction.
3. Based in Bakersfield, California, said Friday that it struck a deal with a private seller to acquire a 50% stake in natural gas assets in the Piceance Basin in western Colorado for about $ 150 million dollars cash. The company has identified more than 600 drill locations based on a 10-acre space reduction.

Market Drivers and Restraints:

The high purchasing power of consumers and the increase in the level of income per capita are among the main factors that are expected to drive the growth of the market. Additionally, strong growth in the food and beverage industry, along with growing demand for products such as cakes, jams, and cakes, is expected to drive the market demand for natural berry flavorings throughout the year—2021 to 2028.

In addition, changes in eating habits and increased awareness of the health benefits of natural berry flavorings are also likely to drive growth in the market for natural berry flavors. In addition, increased consumer health awareness and rapid urbanization associated with lifestyle change are expected to create several new opportunities for the natural berry flavor market during the forecast period from 2022 - 2027.

However, the high cost involved in preparing the natural berry flavoring coupled with the increasing cost of raw materials is hampering the growth rate of the natural berry flavoring market, while the various problems related to consistency and the sustainability of natural flavors compared to synthetic flavors may present a challenge for the natural berry flavoring market during the forecast period mentioned above.

Market Segmentation:

Application:

• Functional beverages
• Confectionery
• Dairy
• Bakery
• Others

Product type:

• Chemical flavorings
• Natural extracts
• Essential oils
• Others

Impact of COVID-19 on North America Natural Berry Flavor Market

The coronavirus pandemic is expected to have a moderate and unfavorable impact on the global market. Unavailability of the raw materials due to disruptions in the supply chain degraded the demand of the market. Additionally, due to government initiatives such as closures, manufacturing plants have also been closed due to limited manpower available.

All of these factors have had a cumulative impact on the entire supply chain that has had a negative impact on the market. However, after the pandemic, it is believed that the market for natural berry flavors will experience an optimistic growth trend, due to the rise in the number of consumers who prefer natural berry flavor and the like, the evolution of the patterns of consumption of the consumer's life towards a healthier diet. Therefore, the market should stagnate until the fourth quarter of 2020.

Regional Analysis:

North America has dominated the market for natural berry flavors due to increased demand and the use of natural flavors that enhance flavor and are free of artificial ingredients, preservatives, and sugar. US natural berry market has been significantly growing at a higher pace from the past few years. Canada's natural berry market is expected to have the dominant shares by the end of 2026. 

Leading Company

Firmenich SA had the largest share of the North America Natural Berry Flavor Market in terms of sales revenue in 2021.

Key Players

The North America Natural Berry Flavor Market is concentrated with well-established players. Key players in the North America Natural Berry Flavor Market include 

• Firmenich SA 
• Givaudan 
• Takasago International Corporation
• Wild Flavors and Specialty Ingredients
• Sensient Technologies Corporation