Food Flavors Market by Type (Chocolate & Browns, Vanilla, Fruit & Nut, Dairy, Spices), Application (Beverages, Dairy, Confectionery, Bakery, Meat, Savory & Snacks), Origin (Natural, Nature identical, Artificial), Form, and Region - Global Forecast to 2025
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Request For Special PricingAccording to MarketsandMarkets, the food flavors market is estimated to be valued at USD 16.4 billion in 2020 and is projected to reach USD 20.7 billion by 2025, recording a CAGR of 4.8%, in terms of value. The growing demand for processed and comfort food as well as the increased consumption of confectionery items, are creating the demand for food flavor. With the advancement of new technologies and innovative experiments in the food & beverage sector, the consumption of flavors is increasing. The Asia Pacific segment is poised to dominate the market due to its high production of processed food, whereas the South American region is projected to be the fastest-growing, owing to new technologies and an increase in the export of food & beverages.
Market Dynamics
Drivers: Consumer interest in organic products
The United States Department of Agriculture (USDA) has defined organic food products or ingredients: “Organic is a labeling term that indicates that the food or other agricultural product has been produced through approved methods. These methods integrate cultural, biological, and mechanical practices that foster cycling of resources, promote ecological balance, and conserve biodiversity. Synthetic fertilizers, sewage sludge, irradiation, and genetic engineering may not be used.”
According to the USDA, the US organic food industry was valued at ~USD 47 billion in 2018 and is projected to grow at a high rate until 2030. With the rising awareness of adulteration and health hazards due to synthetic food ingredients, consumers have shown a preference to pay more for certified organic food products.
Natural flavors that are compliant with the USDA National Organic Program can be certified as organic flavors. USDA Organic Certification helps organic product producers quote a relevant premium price, along with access to the fast-growing local, regional, and international markets. The USDA monitors and conducts audits for food products certified as organic to ensure that the farms or facilities of the certified products comply with the USDA’s organic standards.
Restraints: Lower stability
Natural flavors are highly unstable and volatile as compared to the nature-identical or synthetic flavors. Conventionally, natural flavors, being perishable in nature, are unstable during processing, handling, and storage when compared to synthetic flavors; they are unstable to variations in pH, temperature, and light. Natural flavors are volatile to heat, and at higher temperatures, there is a possibility that the flavor will be lost. The dosages of natural flavorings used in frozen and baked products are higher to compensate for its loss at low and high temperatures. This serves as a restraint for the natural flavors market.
Due to their volatile nature, chances of flavor loss during food processing increase. Moreover, natural flavors are expensive due to the limited availability of raw material and high processing costs. Small-scale food manufacturers find this as a non-economical option due to higher raw material costs and losses of flavors. This factor eventually reduces the profit margins for the food processing companies, thereby restraining the market growth.
Opportunities: Innovative Raw Material Sources
The consumption of natural foods is becoming a trend, and the food industry strives to introduce new sources of flavors. Castoreum extract, a natural flavoring that is obtained from the anal glands of a beaver, is used as a natural flavor in beverage, confectionery, dairy, and desserts. Knowledge regarding the biogenesis of plant volatiles, their enzymes, and genes, will pave the way for the production of innovative food flavors.
Microorganisms have a higher capacity for production for natural pigments and extracts. Marine sources are used on a commercial level for flavor extraction; seaweed is one of the most innovative sources that are used by well-established flavor houses. Varieties of superfruits from rainforests are in demand for the use of natural flavors. Such innovations present opportunities for market growth.
Challenges: Compliance with Quality and Regulatory Standards
The food flavors industry faces a legal obligation to abide by the norms and standards of various regulatory standards. These regulatory standards vary by country; however, they have a common goal of ensuring the safety of consumers. The regulations set by different countries also emphasize the usage of flavors and proper labeling of food products. These stringent regulations can delay or prevent the launch of new products, increase the prices of any new product introduced in the market, and may lead to product recalls. Therefore, the implementation of new regulations and modifications in the existing regulations negatively affect the growth of the market.
By type, the food application is projected to account for the largest share in the food flavors market during the forecast period
Recent trends in the food industry witness consumers leaning toward natural flavors because of the many health benefits associated with them. Due to an increase in dairy production, the food sector is facing tremendous growth, especially in Asian countries. Apart from that, the meat processing industries are also flourishing, thus driving the market. The bakery and confectionery demands are also surging, which is pushing the food flavors market all across the globe.
By application, the fruit & nut segment is projected to account for the largest share in the food flavors market by type during the forecast period
Fruit flavors are present as fruit concentrates, syrups, extracts, which are used across industries such as food, beverage, dairy, confectionery, pharmaceutical, nutritional food, and vitamin supplement industries. Various fruits are quite popular such as apple, mango, banana, pineapple, grapes, berries, pomegranate, and citrus fruits. They are processed to make syrups and fruit extracts, which are later added to various food & beverage items to alter or add taste, smell, or color.
The nuts are known to provide essential oil and the necessary fiber in the recipe. It is also known to provide a rich feel to the final product; therefore, it is quite popular among the manufacturers.
Asia Pacific is projected to account for the largest market share during the forecast period
Due to the high production of dairy and dairy-based products such as yogurt, ice-cream, and cheese in the Asia Pacific countries are driving the market. The manufacturers are meeting not only the regional demand but the international demand as well. The increase in the export of processed meat and meat products are also one of the major drivers for the food flavors market in the region.
Key Market Players:
DuPont (US), Archer Daniels Midland (ADM) (US), Givaudan (Switzerland), Kerry Group (Ireland), International Flavors & Fragrances (US), Firmenich (Switzerland), Symrise (Germany), MANE (France), Taiyo International (Japan), T. Hasegawa (Japan), Synergy Flavors (US), Sensient (US), Bell Flavors and Fragrances (US), Flavorchem (US), Takasago (Japan), Keva Flavours (India), Huabao Flavors & Fragrances (Singapore), Tate & Lyle (UK), Robertet (France), McCormick & Company (US), Wanxiang International (China), Treatt (England), China Flavors and Fragrances (China), Lucta (Spain), and Solvay (Belgium).
Scope of the report
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Report Metric |
Details |
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Market size estimation |
2018–2025 |
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Base year considered |
2019 |
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Forecast period considered |
2020–2025 |
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Units considered |
Value (USD) |
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Segments covered |
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Regions covered |
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Companies studied |
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Target Audience:
- Enzyme manufacturing companies and government organizations
- Service providing company officials
- Government and research organizations
- Research officers
- CEOs and vice presidents
- Marketing directors
- Product innovation directors and related key executives from manufacturing companies and organizations operating in the market
- Manufacturing and marketing companies
Report Scope:
- This research report categorizes the food flavors market based on type, origin, application, form, and region.
By Application
- Food
- Dairy products
- Ice-cream
- Other dairy products
- Confectionery products
- Chocolates
- Other confectionery products
- Bakery products
- Meat products
- Other applications
- Dairy products
- Beverages
- Juice & juice concentrates
- Functional drinks
- Carbonated soft drinks
- Other drinks
Other dairy products include flavored milk, flavored cheese, and flavored yogurt.
Other confectionery products include candies, candied nuts, and chewing gum.
Other applications include soups, condiments, pickles, and sauces.
Other drinks include flavored water, alcoholic drinks, powdered beverages, and iced tea.
By Type
- Chocolate & brown
- Vanilla
- Fruit & nut
- Dairy
- Spices & savory
- Other flavors1
- Other flavors include honey, mint, and vegetables.
By Origin
- Natural
- Natural-identical
- Artificial/Synthetic
By Form
- Liquid & gel
- Dry
By Region:
- North America
- Europe
- Asia Pacific
- South America
- Rest of the World (RoW)
- South Africa
- Middle East
- Others in Africa
Recent Developments
- In December 2018, Kerry Group (Ireland) acquired Ariake (US). Ariake offers flavored products for beef, pork, and vegetables. It is highly specialized in the extraction technologies to produce suitable and tailored solutions across food flavoring markets. This acquisition further enhanced Kerry’s extensive authentic taste and clean label portfolio, as well as providing better technology for the extraction of flavoring.
- Givaudan (Switzerland) completed the acquisition of Ungerer (US) in December 2019, to strengthen specialty ingredient capabilities and leadership in the fast-growing local and regional customer segment
- In September 2017, Givaudan (Switzerland) acquired the nutrition division of Centroflora (Brazil), to complement its existing capabilities in natural flavors, kitchen ingredients, integrated solutions, and functional ingredients.
- Archer Daniels Midland (US) announced an agreement in March 2019, to acquire the Ziegler group (Germany), a leading European provider of natural citrus ingredients. Ziegler offers its citrus flavors along and produces citrus oils, extracts, and concentrates. This acquisition will benefit ADM to hold a strong position in the citrus flavoring market.
Frequently Asked Questions (FAQ):
Can you provide us further segmentation of natural flavor types?
This can be further provided as natural extracts, aroma chemicals, essential oils, and other types.
Can you provide us market size and estimations for floral flavors?
Yes. Further analysis of floral flavors can be provided. Please let us know your geography/application preferences.
Does the scope include flavor carriers?
The scope of this report is confined to the flavors only. We have separate coverage on flavor carriers in our reports—bitterness suppressors and flavor carriers market and beverage flavoring systems market.
Are looking for quantification at each stage in the supply chain. Can this be provided?
We can provide the value chain analysis and supply chain analysis at regional and global levels.
We need the market size for each application by type; is it possible?
We can provide the market for application, by type at regional and country levels. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 21)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SEGMENTATION
1.4 REGIONS COVERED
1.5 PERIODIZATION CONSIDERED FOR THE STUDY
1.6 CURRENCY CONSIDERED
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 26)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key Data from Secondary Sources
2.1.2 PRIMARY DATA
2.1.2.1 Key Data from Secondary Sources
2.1.2.2 Breakdown of Primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS FOR THE STUDY
2.5 LIMITATIONS OF THE STUDY
2.6 COVID-19 HEALTH ASSESSMENT
2.7 COVID-19 ECONOMIC ASSESSMENT
2.7.1 COVID-19 IMPACT ON THE ECONOMY—SCENARIO ASSESSMENT
3 EXECUTIVE SUMMARY (Page No. - 41)
4 PREMIUM INSIGHTS (Page No. - 46)
4.1 ATTRACTIVE OPPORTUNITIES IN THE FLAVORS MARKET
4.2 FLAVORS MARKET: KEY REGIONAL SUBMARKETS
4.3 NORTH AMERICA: FLAVORS MARKET, BY KEY APPLICATION & COUNTRY
4.4 FLAVORS MARKET, BY TYPE & REGION
4.5 FLAVORS MARKET, BY FORM
4.6 FLAVORS MARKET, BY ORIGIN
5 MARKET OVERVIEW (Page No. - 50)
5.1 INTRODUCTION
5.2 YC-YCC SHIFT
5.3 MARKET DYNAMICS
5.3.1 DRIVERS
5.3.1.1 Shift in Consumer Base
5.3.1.1.1 Consumer inclination toward clean-label products to drive the natural food flavors market
5.3.1.1.2 Consumer interest in organic products
5.3.1.2 Continuous Demand for Sweet Flavors
5.3.1.3 Technological Advancements in the Flavor Industry
5.3.1.3.1 Microencapsulation technology: A major advancement in the flavor industry
5.3.1.3.2 Non-thermal treatments: HPP & PEF to enhance the flavor retention
5.3.1.4 Growth in Trade, Investment, and Expenditure in the Processed Food & Beverages Market
5.3.2 RESTRAINTS
5.3.2.1 Restraints Related to Natural Flavors
5.3.2.1.1 Lower stability
5.3.2.1.2 Limited availability
5.3.2.2 Side-effects of Added Flavors, Both Natural and Synthetic
5.3.2.3 Stringent Regulations and Government Policies
5.3.2.4 Reduced Beverage Production in Q2 of 2020 due to COVID-19 Outbreak Restrained Flavors Businesses
5.3.3 OPPORTUNITIES
5.3.3.1 Emerging Markets
5.3.3.2 Innovative Raw Material Sources
5.3.3.3 Use in Functional Foods
5.3.3.4 Increase in Popularity of Novel Flavors
5.3.3.5 Launch of Advanced Flavors
5.3.3.5.1 Therapeutic flavor systems
5.3.3.5.2 Vegan flavor systems
5.3.3.5.3 Certified flavor systems
5.3.3.5.4 Multifunctional flavors
5.3.3.6 Floral Flavors to Gain Market Attention
5.3.4 CHALLENGES
5.3.4.1 Compliance with Quality and Regulatory Standards
6 INDUSTRY TRENDS (Page No. - 68)
6.1 INDUSTRY INSIGHTS
6.2 VALUE CHAIN ANALYSIS
6.3 ECOSYSTEM MAP
6.3.1 FLAVORS, COLORS, AND FRAGRANCES: ECOSYSTEM VIEW
6.3.2 FLAVORS, COLORS, AND FRAGRANCES: MARKET MAP
7 REGULATIONS IN THE FOOD FLAVORS MARKET (Page No. - 73)
7.1 INTRODUCTION
7.2 INTERNATIONAL BODY FOR FOOD SAFETY STANDARDS AND REGULATIONS
7.2.1 INTERNATIONAL ORGANIZATION OF THE FLAVOR INDUSTRY (IOFI)
7.2.1.1 International Flavor Legislation
7.2.1.2 US Department of Health and Human Services
7.2.1.3 Flavor Extract Manufacturers Association
7.3 NORTH AMERICA
7.3.1 US REGULATIONS
7.3.1.1 US Department of Agriculture
7.3.1.2 FFDCA Section 201(s) Limitations
7.3.2 CANADA
7.3.2.1 Canadian Food and Drugs Law
7.3.2.2 Canadian Food Inspection Agency (CFIA)
7.3.3 MEXICO
7.3.3.1 Mexican Food Regulations
7.4 SOUTH AMERICA
7.4.1 BRAZIL
7.4.1.1 Brazilian Health Regulatory Agency (ANVISA)
7.4.1.2 Brazilian Food and Regulations and Standards
7.4.2 ARGENTINA
7.4.2.1 The Argentina Food Safety Act The following issues must be considered when selecting a food additive:
7.4.3 REST OF SOUTH AMERICA
7.5 EUROPE
7.5.1 NATURAL FLAVORS DEFINED IN THE EU IN REGULATION (EC) 1334/2008
7.5.1.1 Food and Agricultural Import Regulations and Standards (Berlin, Germany)
7.5.2 UK REGULATION
7.5.2.1 In Regulation 2(1)
7.5.3 FRANCE
7.5.3.1 Food and Agriculture Imports Regulations and Standards
7.5.4 ITALY
7.5.5 EU REGULATIONS
7.6 ASIA PACIFIC
7.6.1 CHINA
7.6.2 INDIA
7.6.3 JAPAN
7.6.3.1 Japan Flavor and Fragrance Materials Association’s (JFFMA)
7.6.3.2 Japanese Ministry of Health, Labour and Welfare
7.6.3.3 Japan Food Chemical Research Foundation (JFCRF)
7.6.4 KOREA
7.6.4.1 Ministry of Food and Drug Safety (MFDS)
7.6.5 AUSTRALIA & NEW ZEALAND
7.6.5.1 Australia New Zealand Food Standards Code - Standard 1.3.1 - Food Additives
7.7 REST OF THE WORLD
7.7.1 SOUTH AFRICA
7.7.1.1 South African Association of the Flavor & Fragrance Industry (SAAFI)
7.7.2 MIDDLE EAST
7.7.2.1 Food, Agricultural, and Water Import Regulations and Standards - Dubai, United Arab Emirates
7.7.2.1.1 Codex Alimentarius
8 PATENT ANALYSIS (Page No. - 87)
8.1 OVERVIEW
9 FLAVORS MARKET, BY TYPE (Page No. - 90)
9.1 INTRODUCTION
9.1.1 COVID-19 IMPACT ON THE FLAVORS MARKET, BY TYPE
9.1.1.1 Optimistic Scenario
9.1.1.2 Pessimistic Scenario
9.2 CHOCOLATE & BROWN
9.3 VANILLA
9.4 FRUIT & NUT
9.5 DAIRY
9.6 SPICE & SAVORY
9.7 OTHER FLAVORS
10 FOOD FLAVORS MARKET, BY APPLICATION (Page No. - 102)
10.1 INTRODUCTION
10.1.1 COVID-19 IMPACT ON THE FLAVORS MARKET, BY APPLICATION
10.1.1.1 Optimistic Scenario
10.1.1.2 Pessimistic Scenario
10.2 FOOD
10.2.1 DAIRY PRODUCTS
10.2.1.1 Ice Cream
10.2.1.2 Other Dairy Products
10.2.2 CONFECTIONERY PRODUCTS
10.2.2.1 Chocolates
10.2.2.2 Other Confectionery Products
10.2.3 BAKERY PRODUCTS
10.2.4 MEAT PRODUCTS
10.2.5 OTHER FOOD APPLICATIONS
10.3 BEVERAGES
10.3.1 JUICES & JUICE CONCENTRATES
10.3.2 FUNCTIONAL DRINKS
10.3.3 CARBONATED SOFT DRINKS
10.3.4 OTHER DRINKS
11 FOOD FLAVORS MARKET, BY ORIGIN (Page No. - 114)
11.1 INTRODUCTION
11.1.1 COVID-19 IMPACT ON THE FLAVORS MARKET, BY ORIGIN
11.1.1.1 Optimistic Scenario
11.1.1.2 Pessimistic Scenario
11.2 NATURE-IDENTICAL
11.3 NATURAL
11.4 ARTIFICIAL/SYNTHETIC
12 FOOD FLAVORS MARKET, BY FORM (Page No. - 120)
12.1 INTRODUCTION
12.1.1 COVID-19 IMPACT ON THE FLAVORS MARKET, BY FORM
12.1.1.1 Optimistic Scenario
12.1.1.2 Pessimistic Scenario
12.2 LIQUID & GEL
12.3 DRY
13 FOOD FLAVORS MARKET, BY REGION (Page No. - 125)
13.1 INTRODUCTION
13.1.1 COVID-19 IMPACT ON THE FLAVORS MARKET, BY REGION
13.1.1.1 Optimistic Scenario
13.1.1.2 Pessimistic Scenario
13.2 NORTH AMERICA
13.2.1 US
13.2.1.1 Increase in adoption of various flavors by Americans in their everyday meals
13.2.2 CANADA
13.2.2.1 Presence of a huge number of food & beverage processing establishments in Canada
13.2.3 MEXICO
13.2.3.1 Rise in demand for flavor-rich food products observed in Mexico
13.3 EUROPE
13.3.1 GERMANY
13.3.1.1 Presence of various food processing industry and strong retail channels in Germany
13.3.2 UK
13.3.2.1 High focus on innovation of natural and organic flavors to cater to the increasing vegan population in the UK
13.3.3 FRANCE
13.3.3.1 The use of exotic flavors in the production of bakery items and wine in France
13.3.4 ITALY
13.3.4.1 Varieties of flavorsome cheese and Italian seasonings in Italy
13.3.5 SPAIN
13.3.5.1 The well-established food processing industry in Spain
13.3.6 NETHERLANDS
13.3.6.1 The presence of a wide number of breweries utilizing various flavors of the Netherlands
13.3.7 REST OF EUROPE
13.3.7.1 Traditional flavors obtained for natural ingredients in many countries in Europe
13.4 ASIA PACIFIC
13.4.1 CHINA
13.4.1.1 The Chinese tradition includes consuming a balanced diet with all flavors
13.4.2 INDIA
13.4.2.1 High demand for traditional and regional exotic flavors in India
13.4.3 JAPAN
13.4.3.1 Flavor is an important part of the Japanese rules of five in cooking
13.4.4 SOUTH KOREA
13.4.4.1 Rise in demand for healthy, natural, and organic food in South Korea
13.4.5 AUSTRALIA & NEW ZEALAND
13.4.5.1 Increased production in Australia & New Zealand increased demand for food flavors among companies
13.4.6 REST OF ASIA PACIFIC
13.4.6.1 Various ingredients are used to make traditional cuisines flavorsome in Rest of Asia Pacific
13.5 SOUTH AMERICA
13.5.1 BRAZIL
13.5.1.1 Heavy consumption and production of processed food in Brazil
13.5.2 ARGENTINA
13.5.2.1 The presence of processed dairy and meat producing companies in Argentina
13.5.3 REST OF SOUTH AMERICA
13.5.3.1 The demand for ethnic flavors and plant-based formulation in Rest of South America
13.6 REST OF THE WORLD (ROW)
13.6.1 MIDDLE EAST
13.6.1.1 The dessert and savory flavors drive the demand for flavors in the Middle East
13.6.2 SOUTH AFRICA
13.6.2.1 Increase in the food processing opportunities witnessed in the country
13.6.3 OTHERS IN AFRICA
14 COMPETITIVE LANDSCAPE (Page No. - 170)
14.1 MARKET EVALUATION FRAMEWORK
14.2 RANKING OF KEY PLAYERS, 2020
14.3 REVENUE ANALYSIS
14.4 COVID-19 SPECIFIC COMPANY RESPONSE
14.5 KEY MARKET DEVELOPMENTS
14.5.1 EXPANSIONS & INVESTMENTS
14.5.2 MERGERS & ACQUISITIONS
14.5.3 AGREEMENTS, COLLABORATIONS, AND PARTNERSHIPS
15 COMPANY EVALUATION MATRIX & COMPANY PROFILES (Page No. - 177)
15.1 OVERVIEW
15.2 COMPANY EVALUATION MATRIX: DEFINITIONS & METHODOLOGY
15.2.1 STARS
15.2.2 EMERGING LEADERS
15.2.3 PERVASIVE PLAYERS
15.2.4 EMERGING COMPANIES
15.3 COMPANY EVALUATION MATRIX, 2019 (OVERALL MARKET)
15.4 COMPANY PROFILES
(Business overview, Products offered, Recent developments & MnM View)*
15.4.1 DUPONT
15.4.2 ARCHER DANIELS MIDLAND (ADM)
15.4.3 GIVAUDAN
15.4.4 KERRY GROUP
15.4.5 INTERNATIONAL FLAVORS AND FRAGRANCES (IFF)
15.4.6 SYMRISE
15.4.7 MANE
15.4.8 TAIYO INTERNATIONAL
15.4.9 SENSIENT
15.4.10 T. HASEGAWA
15.4.11 FIRMENICH
15.4.12 SYNERGY FLAVORS
15.4.13 ROBERTET
15.4.14 TAKASAGO
15.5 COMPETITIVE LEADERSHIP MAPPING (START-UP/SME)
15.5.1 STAR
15.5.2 EMERGING LEADERS
15.5.3 PERVASIVE
15.5.4 EMERGING COMPANIES
15.6 STARTUPS/SME PROFILES
15.6.1 AMAR BIO-ORGANICS
15.6.2 OSSORO
15.6.3 FABSTER
15.6.4 THE FLAVOR FACTORY (TFF)
15.6.5 THE FOODIE FLAVORS
15.6.6 BESMOKE LIMITED
15.6.7 AROMATA GROUP
15.6.8 CREATE FLAVORS
15.6.9 GULF FLAVORS & FOOD INGREDIENTS FZCO
15.6.10 SELUZ FRAGRANCE & FLAVOR COMPANY
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
16 APPENDIX (Page No. - 248)
16.1 DISCUSSION GUIDE
16.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL:
16.3 AVAILABLE CUSTOMIZATION
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS
LIST OF TABLES (133 Tables)
TABLE 1 US DOLLAR EXCHANGE RATES CONSIDERED, 2015–2019
TABLE 2 FLAVORS MARKET SNAPSHOT, 2020 VS. 2025
TABLE 3 BENEFITS FROM CERTIFICATION & BRANDING FOR DIFFERENT INTEREST GROUPS
TABLE 4 FLAVORS AND FRAGRANCES: REGULATIONS SET BY DIFFERENT COUNTRIES
TABLE 5 SOURCE OF RAW MATERIALS USED IN FLAVORING COMPOUNDS
TABLE 6 CLASSIFICATION OF NATURE’S FLAVORS
TABLE 7 KEY PATENTS GRANTED WITH RESPECT TO FOOD FLAVORS
TABLE 8 CHEMICAL ADDITIVES USED AS FLAVORS
TABLE 9 FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 10 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY TYPE, 2018–2021 (USD MILLION)
TABLE 11 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY TYPE, 2018–2021 (USD MILLION)
TABLE 12 CHOCOLATE & BROWN FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 13 VANILLA FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 14 FRUIT & NUT FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 15 DAIRY FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 16 LIST OF FLAVOR COMPOUNDS THAT IMPART SPICY OR SAVORY FLAVOR TO FOOD & BEVERAGE PRODUCTS
TABLE 17 LIST OF FLAVOR COMPOUND USED AS HERBAL SPICES
TABLE 18 SPICE & SAVORY FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 19 OTHER FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 20 FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 21 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 22 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 23 FOOD FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 24 FOOD FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 25 FOOD FLAVORS MARKET SIZE IN DAIRY PRODUCTS, BY REGION, 2018–2025 (USD MILLION)
TABLE 26 FOOD FLAVORS MARKET SIZE IN DAIRY PRODUCTS, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 27 FOOD FLAVORS MARKET SIZE IN CONFECTIONERY PRODUCTS, BY REGION, 2018–2025 (USD MILLION)
TABLE 28 FOOD FLAVORS MARKET SIZE IN CONFECTIONERY PRODUCTS, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 29 FOOD FLAVORS MARKET SIZE IN BAKERY PRODUCTS, BY REGION, 2018–2025 (USD MILLION)
TABLE 30 FOOD FLAVORS MARKET SIZE IN MEAT PRODUCTS, BY REGION, 2018–2025 (USD MILLION)
TABLE 31 FOOD FLAVORS MARKET SIZE IN OTHER FOOD APPLICATIONS, BY REGION, 2018–2025 (USD MILLION)
TABLE 32 BEVERAGE FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 33 BEVERAGE FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 34 BEVERAGE FLAVORS MARKET SIZE IN JUICES & JUICE CONCENTRATES, BY REGION, 2018–2025 (USD MILLION)
TABLE 35 BEVERAGE FLAVORS MARKET SIZE IN FUNCTIONAL DRINKS, BY REGION, 2018–2025 (USD MILLION)
TABLE 36 BEVERAGE FLAVORS MARKET SIZE IN CARBONATED SOFT DRINKS, BY REGION, 2018–2025 (USD MILLION)
TABLE 37 BEVERAGE FLAVORS MARKET SIZE IN OTHER DRINKS, BY REGION, 2018–2025 (USD MILLION)
TABLE 38 FLAVORS MARKET SIZE, BY ORIGIN, 2018–2025 (USD MILLION)
TABLE 39 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY ORIGIN, 2018–2021 (USD MILLION)
TABLE 40 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY ORIGIN, 2018–2021 (USD MILLION)
TABLE 41 NATURE-IDENTICAL FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 42 NATURAL FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 43 ARTIFICIAL/SYNTHETIC FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 44 FLAVORS MARKET SIZE, BY FORM, 2018–2025 (USD MILLION)
TABLE 45 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY FORM, 2018–2021 (USD MILLION)
TABLE 46 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY FORM, 2018–2021 (USD MILLION)
TABLE 47 LIQUID & GEL FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 48 DRY FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 49 FOOD FLAVORS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 50 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
TABLE 51 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON FLAVORS MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 52 NORTH AMERICA: FLAVORS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 53 NORTH AMERICA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 54 NORTH AMERICA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 55 NORTH AMERICA: FOOD FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 56 NORTH AMERICA: BEVERAGE FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 57 NORTH AMERICA: FLAVORS MARKET SIZE, BY FORM, 2018–2025 (USD MILLION)
TABLE 58 NORTH AMERICA: FLAVORS MARKET SIZE, BY ORIGIN, 2018–2025 (USD MILLION)
TABLE 59 US: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 60 US: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 61 CANADA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 62 CANADA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 63 MEXICO: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 64 MEXICO: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 65 EUROPE: FLAVORS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 66 EUROPE: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 67 EUROPE: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 68 EUROPE: FOOD FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 69 EUROPE: BEVERAGE FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 70 EUROPE: FLAVORS MARKET SIZE, BY FORM, 2018–2025 (USD MILLION)
TABLE 71 EUROPE: FLAVORS MARKET SIZE, BY ORIGIN, 2018–2025 (USD MILLION)
TABLE 72 GERMANY: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 73 GERMANY: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 74 UK: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 75 UK: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 76 FRANCE: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 77 FRANCE: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 78 ITALY: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 79 ITALY: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 80 SPAIN: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 81 SPAIN: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 82 NETHERLANDS: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 83 NETHERLANDS: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 84 REST OF EUROPE: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 85 REST OF EUROPE: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 86 ASIA PACIFIC: FLAVORS MARKET SIZE, BY COUNTRY/REGION, 2018–2025 (USD MILLION)
TABLE 87 ASIA PACIFIC: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 88 ASIA PACIFIC: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 89 ASIA PACIFIC: FOOD FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 90 ASIA PACIFIC: BEVERAGE FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 91 ASIA PACIFIC: FLAVORS MARKET SIZE, BY FORM, 2018–2025 (USD MILLION)
TABLE 92 ASIA PACIFIC: FLAVORS MARKET SIZE, BY ORIGIN, 2018–2025 (USD MILLION)
TABLE 93 CHINA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 94 CHINA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 95 INDIA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 96 INDIA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 97 JAPAN: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 98 JAPAN: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 99 SOUTH KOREA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 100 SOUTH KOREA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 101 AUSTRALIA & NEW ZEALAND: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 102 AUSTRALIA & NEW ZEALAND: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 103 REST OF ASIA PACIFIC: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 104 REST OF ASIA PACIFIC: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 105 SOUTH AMERICA: FLAVORS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 106 SOUTH AMERICA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 107 SOUTH AMERICA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 108 SOUTH AMERICA: FOOD FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 109 SOUTH AMERICA: BEVERAGE FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 110 SOUTH AMERICA: FLAVORS MARKET SIZE, BY FORM, 2018–2025 (USD MILLION)
TABLE 111 SOUTH AMERICA: FLAVORS MARKET SIZE, BY ORIGIN, 2018–2025 (USD MILLION)
TABLE 112 BRAZIL: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 113 BRAZIL: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 114 ARGENTINA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 115 ARGENTINA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 116 REST OF SOUTH AMERICA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 117 REST OF SOUTH AMERICA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 118 ROW: FLAVORS MARKET SIZE, BY COUNTRY/REGION, 2018–2025 (USD MILLION)
TABLE 119 ROW: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 120 ROW: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 121 ROW: FOOD FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 122 ROW: BEVERAGE FLAVORS MARKET SIZE, BY SUBAPPLICATION, 2018–2025 (USD MILLION)
TABLE 123 ROW: FLAVORS MARKET SIZE, BY FORM, 2018–2025 (USD MILLION)
TABLE 124 ROW: FLAVORS MARKET SIZE, BY ORIGIN, 2018–2025 (USD MILLION)
TABLE 125 MIDDLE EAST: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 126 MIDDLE EAST: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 127 SOUTH AFRICA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 128 SOUTH AFRICA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 129 OTHERS IN AFRICA: FLAVORS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 130 OTHERS IN AFRICA: FLAVORS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 131 EXPANSIONS & INVESTMENTS, 2018–2020
TABLE 132 MERGERS & ACQUISITIONS, 2019
TABLE 133 AGREEMENTS, COLLABORATIONS, AND PARTNERSHIPS, 2018–2020
LIST OF FIGURES (64 Figures)
FIGURE 1 FOOD FLAVORS MARKET SEGMENTATION
FIGURE 2 FOOD FLAVORS MARKET: RESEARCH DESIGN
FIGURE 3 DATA TRIANGULATION METHODOLOGY
FIGURE 4 COVID-19 THE GLOBAL PROPAGATION
FIGURE 5 COVID-19 PROPAGATION: SELECT COUNTRIES
FIGURE 6 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020
FIGURE 7 CRITERIA IMPACTING THE GLOBAL ECONOMY
FIGURE 8 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
FIGURE 9 FLAVORS MARKET SIZE, BY ORIGIN, 2020 VS. 2025 (USD MILLION)
FIGURE 10 FLAVORS MARKET SIZE, BY TYPE, 2020 VS. 2025 (USD MILLION)
FIGURE 11 FLAVORS MARKET SIZE, BY FORM 2020 VS. 2025 (USD MILLION)
FIGURE 12 FLAVORS MARKET SIZE, BY APPLICATION 2020 VS. 2025 (USD MILLION)
FIGURE 13 FLAVORS MARKET SHARE, BY REGION, 2019
FIGURE 14 GROWTH IN DEMAND FOR CLEAN LABEL AND ORGANIC PRODUCTS TO DRIVE THE GROWTH OF THE FLAVORS MARKET
FIGURE 15 THE US WAS THE LARGEST MARKET GLOBALLY FOR FLAVORS IN 2019
FIGURE 16 THE US ACCOUNTED FOR THE LARGEST SHARE IN THE NORTH AMERICAN MARKET IN 2019
FIGURE 17 FRUIT & NUT FLAVORS ARE PROJECTED TO DOMINATE THE MARKET THROUGH 2025
FIGURE 18 THE LIQUID & GEL SEGMENT IS PROJECTED TO DOMINATE DURING THE FORECAST PERIOD (USD MILLION)
FIGURE 19 THE NATURE-IDENTICAL FLAVORS ARE PROJECTED TO DOMINATE THE MARKET DURING THE FORECAST PERIOD (USD MILLION)
FIGURE 20 PROCESS FLOW: FLAVOR SYSTEMS
FIGURE 21 FOOD FLAVORS MARKET: YC-YCC SHIFT
FIGURE 22 MARKET DYNAMICS: FOOD FLAVORS MARKET
FIGURE 23 GLOBAL CONSUMER TRENDS FOR FOOD & BEVERAGES, 2019
FIGURE 24 KEY INSIGHTS ON ORGANIC FOOD MARKET IN THE US
FIGURE 25 US: ORGANIC FOOD GROWTH, 2013–2018 (USD BILLION)
FIGURE 26 KEY CONFECTIONERY MANUFACTURING COMPANIES IN THE WORLD, 2019 (USD MILLION)
FIGURE 27 INDIA: AVERAGE ANNUAL GROWTH RATE (AAGR) OF GROSS VALUE ADDED (GVA) BY FOOD PROCESSING INDUSTRIES, 2012–2018
FIGURE 28 WORLD’S LARGEST FOOD EXPORTING COUNTRIES, 2016 (USD BILLION)
FIGURE 29 INDIA: 12TH FIVE-YEAR PLAN: EXPENDITURE SHARE ON FOOD PROCESSING SECTOR, 2012–17
FIGURE 30 GLOBAL AGRI-FOOD EXPORT VALUE OF KEY ECONOMIES, 2016–2018 (USD BILLION)
FIGURE 31 INDIA: INVESTMENT OPPORTUNITIES, 2019
FIGURE 32 ANNUAL GDP GROWTH IN EMERGING ECONOMIES, 2011–2018
FIGURE 33 NUMBER OF COUNTRIES MANDATING FOOD FORTIFICATION, 2011–2019
FIGURE 34 FLAVORS MARKET: VALUE CHAIN ANALYSIS
FIGURE 35 PATENT ANALYSIS: FOOD FLAVORS MARKET, 2015–2020
FIGURE 36 PATENT ANALYSIS: FOOD FLAVORS MARKET, BY REGION, 2015–2020
FIGURE 37 FLAVORS MARKET SIZE, BY TYPE, 2020 VS. 2025 (USD MILLION)
FIGURE 38 FRUIT & NUT FLAVORS MARKET SHARE (VALUE), BY REGION, 2020 VS. 2025
FIGURE 39 FLAVORS MARKET SIZE, BY APPLICATION, 2020 VS. 2025 (USD MILLION)
FIGURE 40 FOOD FLAVORS MARKET SHARE (VALUE), BY REGION, 2020 VS. 2025
FIGURE 41 FLAVORS MARKET SIZE, BY ORIGIN, 2020 VS. 2025 (USD MILLION)
FIGURE 42 NATURE-IDENTICAL FOOD FLAVORS MARKET SHARE (VALUE), BY REGION, 2020 VS. 2025
FIGURE 43 FLAVORS MARKET SIZE, BY FORM, 2020 VS. 2025 (USD MILLION)
FIGURE 44 LIQUID & GEL FLAVORS MARKET SHARE (VALUE), BY REGION, 2020 VS. 2025
FIGURE 45 BRAZIL IS PROJECTED TO GROW AT HIGHEST CAGR IN THE FOOD FLAVORS MARKET, 2020–2025
FIGURE 46 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 47 EUROPE: MARKET SNAPSHOT
FIGURE 48 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 49 MARKET EVALUATION FRAMEWORK, 2017–2019
FIGURE 50 INTERNATIONAL FLAVORS AND FRAGRANCES LED THE FOOD FLAVORS MARKET IN 2020
FIGURE 51 TOP FIVE PLAYERS THAT DOMINATED THE MARKET IN LAST FIVE YEARS
FIGURE 52 GLOBAL FOOD FLAVORS MARKET COMPANY EVALUATION MATRIX, 2019 (OVERALL MARKET)
FIGURE 53 DUPONT: COMPANY SNAPSHOT
FIGURE 54 ARCHER DANIELS MIDLAND (ADM): COMPANY SNAPSHOT
FIGURE 55 GIVAUDAN: COMPANY SNAPSHOT
FIGURE 56 KERRY GROUP: COMPANY SNAPSHOT
FIGURE 57 INTERNATIONAL FLAVORS AND FRAGRANCES (IFF): COMPANY SNAPSHOT
FIGURE 58 SYMRISE: COMPANY SNAPSHOT
FIGURE 59 MANE: COMPANY SNAPSHOT
FIGURE 60 SENSIENT: COMPANY SNAPSHOT
FIGURE 61 T. HASEGAWA: COMPANY SNAPSHOT
FIGURE 62 ROBERTET: COMPANY SNAPSHOT
FIGURE 63 TAKASAGO INTERNATIONAL CORPORATION: COMPANY SNAPSHOT
FIGURE 64 FOOD FLAVORS MARKET COMPETITIVE LEADERSHIP MAPPING FOR STARTUP/SME PLAYERS, 2019
The study involved four major activities in estimating the food flavors market size. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, were referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold & silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of the market is characterized by the presence of enzyme manufacturing companies and government organizations, service providing company officials, government and research organizations, and research officers. The supply side is characterized by the presence of key CEOs and vice presidents, marketing directors, product innovation directors and related key executives from manufacturing companies and organizations operating in the market, and manufacturing and marketing companies. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Given below is the breakdown of the primary respondents.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the food flavors market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size include the following:
- The key players were identified through extensive primary and secondary research.
- The value chain and market size of the food flavors market, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.
Data Triangulation
After arriving at the overall market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated using both top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adopted - top-down approach, bottom-up approach, and the one involving expert interviews. Only when the values arrived at from the three points match, the data is assumed to be correct.
Report Objectives
- To describe and forecast the food flavors market, in terms of type, origin, application, form, and region
- To describe and forecast the food flavors market, in terms of value, by region–North America, Europe, Asia Pacific, South America, and the Rest of the World—along with their respective countries
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of the food flavors market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the food flavors market
- To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with details on the competitive landscape of market leaders
- To analyze strategic approaches, such as acquisitions & divestments, expansions, product launches & approvals, and agreements, in the food flavors market
Available Customizations:
Based on the given market data, MarketsandMarkets offers customizations in the reports according to client-specific requirements. The available customization options are as follows:
Geographic Analysis
- Further breakdown of the Rest of the World food flavors market into Brazil, Argentina South Africa, and RoW (Nigeria, Kenya, Ethiopia, Tanzania, Morocco, Egypt, and the Democratic Republic of Congo)
- Further breakdown of the Rest of European food flavors market into Poland, Sweden, Belgium, Switzerland, Ukraine, and other EU & non-EU countries
- Further breakdown of the Rest of Asia Pacific includes Thailand, Malaysia, Singapore, and other ASEAN countries
- Further breakdown of the Rest of South America includes Chile, Colombia, Uruguay, Venezuela, and Peru
Segment Analysis
- Further breakdown of the application segment into major countries
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Food Flavors Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Food Flavors Market