Food Flavors Market Revenue to Attain USD 35.06 Billion by 2033

10 Oct 2024

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Table of Content

1. Food Flavors Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Food Flavors Market 4. Food Flavors Market Trends 5. Regional Insights 6. Food Flavors Market Highlights 7. Market News

Food Flavors Market Revenue and Trends

The global food flavors market revenue was valued at USD 18.46 billion in 2024 and is expected to attain around USD 25.65 billion by 2033, expanding at a CAGR of 4.2% during forecast period. The demand for food flavors has increased due to the rapid expansion of the food & beverage industry. With the growing consumption of bakery products, the adoption of fruit flavors is rising, contributing to the expansion of the food flavors market.

Market Overview

Flavoring agents used in food items to induce the sensory perception of taste or fragrance are known as food flavors. These flavors are added to bakery products or beverages to enhance the texture and aroma. Synthetic and natural flavors are the two types of flavor enhancers. Natural flavors are derived from plant or fruit extract, whereas synthetic flavors are reproduced in a lab. Perishable foods have the propensity to lose flavor over time after processing and preservation, necessitating flavoring agents to help maintain the taste and aroma.

Food flavor alters or enhances the taste of natural food products, such as fruits and vegetables. It is also used to produce flavored food items, such as candies and snacks, that lack the flavors consumers want. Natural flavors and artificial flavors are typically combined to create distinct flavors. Growing research and development efforts to create a wide range of distinctive flavors are contributing to the growth of the market.

which improve the smell profile of food items

which alter the scent to emphasize it

Report Highlights of the Food Flavors Market

• Based on source, the synthetic segment dominated the market with the largest share. The cost-effectiveness and easy availability of synthetic flavors make them accessible to consumers looking to alter food texture.
• The natural segment is likely to grow rapidly during the forecast period. With the growing awareness about health, there is a strong emphasis on organic food, which, in turn, boosts the demand for natural flavors. Contrary to artificial tastes, natural extracts from a variety of plants give a dish its ethnic flavor. Several fast-food businesses are using these natural flavors to create authentic flavors.
• On the basis of application, the beverages segment led the food flavors market in 2023. Consumers recognize the benefits of functional beverages on health, making them a popular choice. An array of flavors can be discovered in these beverages with natural flavors. These natural flavors are being used regularly in the beverage industry because there is a rising demand for plant-based beverages.
• The remarkable CAGR is projected for the bakery & confectionery segment during the forecast period. This is due to the high usage of food flavors in dairy products to improve their taste and aroma.

Food Flavors Market Trends

• High demand for fruit and floral flavors: Flavors derived from fruits as well as flowers are highly sought after. They can be added to food items to enrich the authentic flavor and smell. The demand for botanical and floral flavors has grown out of its niche, broadening its scope. These flavors are widely used in baked goods, like cookies and cakes.
• Consumer awareness: The long-term negative health impacts of artificial flavoring ingredients have made natural flavors a prominent choice. Natural flavors give an authentic taste and are free from benzophenone and ethyl acrylate, for instance, which are proven to be harmful to the body. The demand for natural food essences has grown with consumer awareness about clean-label products.
• Rising preference for natural flavors: Awareness about the negative effects of artificial flavors has given a push to natural flavors as a suitable alternative. The ingredients used in artificial flavoring can cause health concerns over the years, including cancer. The innovative application of naturally sourced raw ingredients in natural food flavoring will present possibilities for growth in the food industry. These flavors have natural properties that help preserve food items, eliminating the need to add artificial preservatives to the products.

Regional Insights

Asia Pacific dominated the food flavors market in 2023. The constant rise in demand and consumption of food and beverages is a major factor contributed to the regional market growth. For instance, countries like India, Japan, and China are witnessing significant growth in the consumption of ready-to-eat and processed food or beverage items due to hectic lifestyles. Moreover, rising food delivery services in these countries led to a high demand for baked food items.

North America is projected to be the fastest-growing region in the market. Its diverse population prompts different types of regional cuisines. In addition, there is a high consumption of packaged food items in countries like the U.S. and Canada, which contributes to regional market expansion.

Food Flavors Market Highlights

Market News

• In April 2024, Tastesense Salt, a solution that has a savory, salty flavor without sodium, was launched by The Kerry Group. This innovative item will provide the necessary flavors without the harmful effect of sodium.
• In August 2024, T. Hasegawa USA Inc. acquired Abelei Flavors Inc. to broaden its flavor portfolio and scope in the North American market.

Market Segmentation

By Source

• Natural
  • Essential Oil
  • Natural Essence
  • Others
• Synthetic
  • Artificial Flavors
  • Nature-Identical Flavor

By Application

• Beverages
  • Hot Drinks
  • Soft Drinks
  • Alcoholic Drinks
• Dairy & Frozen Products
  • Dairy Products
  • Frozen Products
• Bakery & Confectionery
  • Bakery
  • Chocolate
  • Confectionery
  • Ice Cream
• Savory & Snacks
  • Savory
  • Snacks
• Animal & Pet Food
  • Animal Feed
  • Pet Food

By Form

• Dry
• Liquid & Gel

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