Food Flavors Market by Type (Chocolate & Browns, Vanilla, Fruits & Nuts, Dairy, Spices), Application (Beverages, Dairy, Confectionery, Bakery, Meat, Savory & Snacks), Origin (Natural and Artificial), Form, and Region - Global Forecast to 2023

The food flavors market was valued at USD 12.94 billion in 2017; it is projected to grow at a CAGR of 4.8%, to reach USD 17.10 billion by 2023. The basic objective of the report is to define, segment, and project the global market size for food flavors on the basis of application, type, form, origin, and region. Other objectives include analyzing the opportunities in the market for stakeholders and providing a competitive landscape of market trends, analyzing the macro and microeconomic indicators of this market to provide factor analysis, and to project the growth rate of the food flavors market.

This report includes estimations of the market size in terms of value (USD million). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global food flavors market and to estimate the size of various other dependent submarkets. The key players in the market have been identified through secondary research (from sources such as press releases and paid databases such as Factiva and Bloomberg), annual reports, and financial journals; their market shares in respective regions have also been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources. The figure below shows the breakdown of profiles of industry experts that participated in the primary discussions.

To know about the assumptions considered for the study, download the pdf brochure

The key players that are profiled in the report include Givaudan (Switzerland), International Flavors & Fragrances (US), Firmenich (Switzerland), Symrise (Germany), Frutarom (Israel), Sensient (US), MANE (France), Takasago (Japan), T.Hasegawa (Japan), and Robertet (France).

This report is targeted at the existing players in the industry, which include the following:

• Research organizations
• Food flavor manufacturers, suppliers, distributors, and retailers
• Food & beverage producers, suppliers, distributors, and retailers
• Flavor extraction equipment manufacturers, traders, distributors, and dealers

The study answers several questions for stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.

Drivers

Consumer inclination toward clean-label and organic products drives the natural food flavors market

Marketing using a clean label is common in the natural flavors industry. With rising health awareness, consumers are moving towards natural food products. Natural flavors offer varied health benefits and are widely accepted by consumers who are ready to pay premium prices for natural foods. It has been observed that a majority of the population thoroughly checks the label of a product before buying it. This awareness among consumers has prompted manufacturers to undertake the replacement of synthetic flavors with natural flavors.

Technological advancements

Companies are adopting new technologies to produce better varieties of natural and synthetic flavors for more stability and suitability. For instance, flavors of tropical fruits are lost during processing. Therefore, to retain its flavor, manufacturers are inventing advanced technologies. The extraction of flavors is a complicated task. Supercritical carbon dioxide is used to extract flavors and is a harmonized technique adopted by manufacturers. Lycopene, beta-carotenoids, vanilla, and essential oils, along with several other flavors are extracted using SLE technology. Solid-liquid extraction (SLE) is an advanced technology that extracts 90% of the natural flavor. Supercritical fluid extraction is the most advanced extraction technology, performed at a high-pressure level.

Restraints

Lower stability & limited availability of natural 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.

Side-effects of added flavors, both natural and synthetic

There are major health effects of a few chemicals that make up natural and artificial flavors. For instance, the benzaldehyde compound contains hydrogen cyanide, which can cause central nervous system depression and convulsions. Several synthetic flavors made with amyl acetate (pear and banana) may cause indigestion, chest pain, headaches, fatigue, and irritate mucus membranes.

Scope of the Report

On the basis of type, the food flavors market has been segmented as follows:

• Chocolate & brown flavors
• Vanilla
• Fruits & nuts
• Dairy
• Spices
• Others (honey, mint, and vegetables)

On the basis of application, the food flavors market has been segmented as follows:

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

On the basis of form, the food flavors market has been segmented as follows:

• Liquid
• Dry

On the basis of origin, the food flavors market has been segmented as follows:

• Natural
• Artificial

On the basis of region, the food flavors market has been segmented as follows:

• North America
• Europe
• Asia Pacific
• South America
• RoW (Africa and the Middle East)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific scientific needs.

Product Analysis

• Product Matrix, which gives a detailed comparison of the product portfolio of each company

Segmental Analysis

• A further breakdown of food flavors in applications such as food and beverages

Geographic Analysis

• A further breakdown of the Rest of Europe food flavors market, by key country
• A further breakdown of the Rest of Asia Pacific food flavors market, by key country
• A further breakdown of other countries in the Rest of the World food flavors market, by key country

Company Information

• · Detailed analyses and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Periodization Considered
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 22)
    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 Primary Sources
                    2.1.2.2 Breakdown of Primaries, By Company Type, Designation, and Region
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. - 31)

4 Premium Insights (Page No. - 36)
    4.1 Opportunities in the Food Flavors Market
    4.2 Food Flavors Market, By Key Country
    4.3 Food Flavors Market, By Type & Region
    4.4 Developed vs Developing Markets for Food Flavors
    4.5 Food Flavors Market, By Application & Region
    4.6 Food Flavors Market, By Form
    4.7 North America: Food Flavors Market, By Origin & Country, 2017

5 Market Overview (Page No. - 42)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Consumer Inclination Toward Clean-Label and Organic Products Drives the Natural Food Flavors Market
                               5.2.1.1.1 Consumer Interest in Organic Products
                    5.2.1.2 Technological Advancements
                               5.2.1.2.1 Microencapsulation Technology – A Major Advancement in the Flavor Industry
                               5.2.1.2.2 Non-Thermal Treatments – HPP & PEF to Enhance the Flavor Retention
                    5.2.1.3 Growing Trade, Investment, and Expenditure in Processed Food & Beverages Market
           5.2.2 Restraints
                    5.2.2.1 Lower Stability & Limited Availability of Natural Flavors
                    5.2.2.2 Side-Effects of Added Flavors, Both Natural and Synthetic
           5.2.3 Opportunities
                    5.2.3.1 Emerging Markets & Increasing Spending Power
                    5.2.3.2 Innovative Raw Material Sources
                    5.2.3.3 Use in Functional Foods
                    5.2.3.4 Increasing Popularity of Novel Flavors
           5.2.4 Challenges
                    5.2.4.1 Compliance With Quality and Regulatory Standards

6 Food Flavors Market, By Type (Page No. - 52)
    6.1 Introduction
    6.2 Chocolate & Browns
    6.3 Vanilla
    6.4 Fruits & Nuts
    6.5 Dairy
    6.6 Spices
    6.7 Others

7 Food Flavors Market, By Application (Page No. - 62)
    7.1 Introduction
    7.2 Beverages
    7.3 Dairy Products
    7.4 Confectionery Products
    7.5 Baked Products
    7.6 Meat Products
    7.7 Savory & Snacks

8 Food Flavors Market, By Origin (Page No. - 69)
    8.1 Introduction
    8.2 Natural
    8.3 Artificial

9 Food Flavors Market, By Form (Page No. - 74)
    9.1 Introduction
    9.2 Liquid
    9.3 Dry

10 Food Flavors Market, By Region (Page No. - 78)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 UK
             10.3.2 Germany
             10.3.3 France
             10.3.4 Italy
             10.3.5 Rest of Europe
     10.4 Asia Pacific
             10.4.1 China
             10.4.2 India
             10.4.3 Japan
             10.4.4 Rest of Asia Pacific
     10.5 South America
             10.5.1 Brazil
             10.5.2 Argentina
             10.5.3 Rest of South America
     10.6 Rest of the World (RoW)
             10.6.1 Africa
             10.6.2 Middle East

11 Competitive Landscape (Page No. - 158)
     11.1 Overview
     11.2 Market Ranking
     11.3 Competitive Scenario
             11.3.1 New Product Launches
             11.3.2 Expansions and Investments
             11.3.3 Acquisitions
             11.3.4 Joint Ventures and Partnerships

12 Company Profiles (Page No. - 165)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     12.1 Givaudan
     12.2 International Flavors & Fragrances (IFF)
     12.3 Firmenich
     12.4 Symrise
     12.5 Frutarom
     12.6 Sensient
     12.7 Mane
     12.8 Takasago
     12.9 T. Hasegawa
     12.10 Robertet

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 192)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 More Company Developments
             13.3.1 Expansions & Investments
             13.3.2 Acquisitions
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details

List of Tables (177 Tables)

Table 1 US Dollar Exchange Rates Considered for the Study, 2015–2017
Table 2 Flavors and Fragrances: Regulations Set By Different Countries
Table 3 Chemicals Used for Flavors
Table 4 Food Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 5 Chocolate & Brown Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 6 Vanilla Flavor Market Size, By Region, 2016–2023 (USD Million)
Table 7 Fruit & Nut Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 8 Dairy Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 9 Important Flavor Compounds in Spices
Table 10 Important Flavor Compounds in A Few Culinary Herbal Spices
Table 11 Spice Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 12 Other Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 13 Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 14 Beverages: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 15 Dairy Products: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 16 Confectionery Products: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 17 Baked Products: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 18 Meat Products: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 19 Savory & Snacks: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 20 Food Flavors Market Size, By Origin, 2016–2023 (USD Million)
Table 21 Natural: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 22 Artificial: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 23 Food Flavors Market Size, By Form, 2016–2023 (USD Million)
Table 24 Liquid: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 25 Dry: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 26 Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 27 North America: Food Flavors Market Size, By Country, 2016–2023 (USD Million)
Table 28 North America: Food Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 29 North America: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 30 North America: Food Flavors Market Size, By Form, 2016–2023 (USD Million)
Table 31 North America: Food Flavors Market Size, By Origin, 2016–2023 (USD Million)
Table 32 US: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 33 US: Beverage Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 34 US: Dairy Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 35 US: Confectionery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 36 US: Bakery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 37 US: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 38 US: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 39 Canada: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 40 Canada: Beverage Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 41 Canada: Dairy Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 42 Canada: Confectionery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 43 Canada: Bakery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 44 Canada: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 45 Canada: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 46 Mexico: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 47 Mexico: Beverage Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 48 Mexico: Dairy Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 49 Mexico: Confectionery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 50 Mexico: Bakery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 51 Mexico: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 52 Mexico: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 53 Europe: Food Flavors Market Size, By Country, 2016–2023 (USD Million)
Table 54 Europe: Food Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 55 Europe: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 56 Europe: Food Flavors Market Size, By Form, 2016–2023 (USD Million)
Table 57 Europe: Food Flavors Market Size, By Origin, 2016–2023 (USD Million)
Table 58 UK: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 59 UK: Beverage Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 60 UK: Dairy Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 61 UK: Confectionery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 62 UK: Bakery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 63 UK: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 64 UK: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 65 Germany: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 66 Germany: Beverage Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 67 Germany: Dairy Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 68 Germany: Confectionery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 69 Germany: Bakery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 70 Germany: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 71 Germany: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 72 France: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 73 France: Beverage Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 74 France: Dairy Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 75 France: Confectionery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 76 France: Bakery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 77 France: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 78 France: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 79 Italy: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 80 Italy: Beverage Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 81 Italy: Dairy Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 82 Italy: Confectionery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 83 Italy: Bakery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 84 Italy: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 85 Italy: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 86 Rest of Europe: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 87 Rest of Europe: Beverage Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 88 Rest of Europe: Dairy Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 89 Rest of Europe: Confectionery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 90 Rest of Europe: Bakery Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 91 Rest of Europe: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 92 Rest of Europe: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 93 Asia Pacific: Food Flavors Market Size, By Country, 2016–2023 (USD Million)
Table 94 Asia Pacific: Food Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 95 Asia Pacific: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 96 Asia Pacific: Food Flavors Market Size, By Form, 2016–2023 (USD Million)
Table 97 Asia Pacific: Food Flavors Market Size, By Origin, 2016–2023 (USD Million)
Table 98 China: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 99 China: Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 100 China: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 101 China: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 102 China: Food Flavors Market Size in Bakery Products, By Type, 2016–2023 (USD Million)
Table 103 China: Food Flavors Market Size in Meat Products, By Type, 2016–2023 (USD Million)
Table 104 China: Food Flavors Market Size in Savories & Snacks, By Type, 2016–2023 (USD Million)
Table 105 India: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 106 India: Food Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 107 India: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 108 India: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 109 India: Food Flavors Market Size in Bakery Products, By Type, 2016–2023 (USD Million)
Table 110 India: Food Flavors Market Size in Meat Products, By Type, 2016–2023 (USD Million)
Table 111 India: Food Flavors Market Size in Savories & Snacks, By Type, 2016–2023 (USD Million)
Table 112 Japan: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 113 Japan: Food Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 114 Japan: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 115 Japan: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 116 Japan: Food Flavors Market Size in Bakery Products, By Type, 2016–2023 (USD Million)
Table 117 Japan: Food Flavors Market Size in Meat Products, By Type, 2016–2023 (USD Million)
Table 118 Japan: Food Flavors Market Size in Savories & Snacks, By Type, 2016–2023 (USD Million)
Table 119 Rest of Asia Pacific: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 120 Rest of Asia Pacific: Food Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 121 Rest of Asia Pacific: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 122 Rest of Asia Pacific: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 123 Rest of Asia Pacific: Food Flavors Market Size in Bakery Products, By Type, 2016–2023 (USD Million)
Table 124 Rest of Asia Pacific: Food Flavors Market Size in Meat Products, By Type, 2016–2023 (USD Million)
Table 125 Rest of Asia Pacific: Food Flavors Market Size in Savories & Snacks, By Type, 2016–2023 (USD Million)
Table 126 South America: Food Flavors Market Size, By Country, 2016–2023 (USD Million)
Table 127 South America: Food Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 128 South America: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 129 South America: Food Flavors Market Size, By Form, 2016–2023 (USD Million)
Table 130 South America: Food Flavors Market Size, By Origin, 2016–2023 (USD Million)
Table 131 Brazil: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 132 Brazil: Food Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 133 Brazil: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 134 Brazil: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 135 Brazil: Food Flavors Market Size in Bakery Products, By Type, 2016–2023 (USD Million)
Table 136 Brazil: Food Flavors Market Size in Meat Products, By Type, 2016–2023 (USD Million)
Table 137 Brazil: Food Flavors Market Size in Savories & Snacks, By Type, 2016–2023 (USD Million)
Table 138 Argentina: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 139 Argentina: Food Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 140 Argentina: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 141 Argentina: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 142 Argentina: Food Flavors Market Size in Bakery Products, By Type, 2016–2023 (USD Million)
Table 143 Argentina: Meat Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 144 Argentina: Savory & Snacks Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 145 Rest of South America: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 146 Rest of South America: Food Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 147 Rest of South America: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 148 Rest of South America: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 149 Rest of South America: Food Flavors Market Size in Bakery Products, By Type, 2016–2023 (USD Million)
Table 150 Rest of South America: Food Flavors Market Size in Meat Products, By Type, 2016–2023 (USD Million)
Table 151 Rest of South America: Food Flavors Market Size in Savories & Snacks, By Type, 2016–2023 (USD Million)
Table 152 RoW: Food Flavors Market Size, By Region, 2016–2023 (USD Million)
Table 153 RoW: Food Flavors Market Size, By Type, 2016–2023 (USD Million)
Table 154 RoW: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 155 RoW: Food Flavors Market Size, By Form, 2016–2023 (USD Million)
Table 156 RoW: Food Flavors Market Size, By Origin, 2016–2023 (USD Million)
Table 157 Africa: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 158 Africa: Food Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 159 Africa: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 160 Africa: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 161 Africa: Food Flavors Market Size in Baked Products, By Type, 2016–2023 (USD Million)
Table 162 Africa: Food Flavors Market Size in Meat Products, By Type, 2016–2023 (USD Million)
Table 163 Africa: Food Flavors Market Size in Savories & Snacks, By Type, 2016–2023 (USD Million)
Table 164 Middle East: Food Flavors Market Size, By Application, 2016–2023 (USD Million)
Table 165 Middle East: Food Flavors Market Size in Beverages, By Type, 2016–2023 (USD Million)
Table 166 Middle East: Food Flavors Market Size in Dairy Products, By Type, 2016–2023 (USD Million)
Table 167 Middle East: Food Flavors Market Size in Confectionery Products, By Type, 2016–2023 (USD Million)
Table 168 Middle East: Food Flavors Market Size in Baked Products, By Type, 2016–2023 (USD Million)
Table 169 Middle East: Food Flavors Market Size in Meat Products, By Type, 2016–2023 (USD Million)
Table 170 Middle East: Food Flavors Market Size in Savories & Snacks, By Type, 2016–2023 (USD Million)
Table 171 Top Five Companies in the Food Flavors Market, 2017
Table 172 New Product Launches, 2015-2017
Table 173 Expansions and Investments, 2018
Table 174 Acquisitions, 2018
Table 175 Joint Ventures and Partnerships, 2016-2018
Table 176 Expansions & Investments, 2018
Table 177 Acquisitions, 2018

List of Figures (53 Figures)

Figure 1 Market Segmentation
Figure 2 Geographic Scope
Figure 3 Food Flavors Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation & Methodology
Figure 7 Assumptions of the Research Study
Figure 8 Limitations of the Research Study
Figure 9 Food Flavors Market Snapshot, By Type, 2018 vs 2023 (USD Million)
Figure 10 Food Flavors Market Size, By Application, 2018 vs 2023 (USD Million)
Figure 11 Food Flavors Market Size, By Form, 2018 vs 2023 (USD Million)
Figure 12 Food Flavors Market Size, By Origin, 2018 vs 2023 (USD Million)
Figure 13 South America to Grow at the Highest CAGR in the Food Flavors Market Through 2023
Figure 14 Food Flavors Market Share (Value), By Region, 2017
Figure 15 Growing Demand for Natural Food Flavors Due to Increasing Consumer Awareness Drives the Growth of the Food Flavors Market
Figure 16 Brazil to Be the Fastest-Growing Country in the Food Flavors Market By 2023
Figure 17 Fruits & Nuts Segment to Dominate the Market Through 2023
Figure 18 Developing Countries to Emerge at the Highest Growth Rates During the Forecast Period
Figure 19 Asia Pacific Dominated the Food Flavors Market Across All Applications in 2017
Figure 20 Liquid Form to Dominate the Food Flavors Market
Figure 21 US Accounted for the Largest Share in 2017
Figure 22 Industry Trend
Figure 23 Market Dynamics: Food Flavors Market
Figure 24 Top 10 Countries With the Largest Markets for Organic Food, 2016 (USD Million)
Figure 25 Top Ten Countries With the Largest Number of Organic Producers, 2016
Figure 26 Contribution of Food Processing Industry to GDP of India, 2016
Figure 27 US Processed Food Export, 2009 vs 2013 (USD Billion)
Figure 28 Trend of Food Processing Projects in Us, 2011–2015
Figure 29 India: 12th Five Year Plan: Expenditure Share on Food Processing Sector, 2012–17
Figure 30 Food Flavors Market Size, By Type, 2018 vs 2023 (USD Million)
Figure 31 Fruit & Nut Flavors Market Size, By Region, 2018 vs 2023 (USD Million)
Figure 32 Food Flavors Market Size, By Application, 2018 vs 2023 (USD Million)
Figure 33 Beverages: Food Flavors Market Size, By Region, 2018 vs 2023
Figure 34 Food Flavors Market Size, By Origin, 2018 vs 2023 (USD Million)
Figure 35 Artificial: Food Flavors Market Size, By Region, 2018 vs 2023 (USD Million)
Figure 36 Food Flavors Market Size, By Form, 2018 vs 2023 (USD Million)
Figure 37 Liquid: Food Flavors Market Size, By Region, 2018 vs 2023 (USD Million)
Figure 38 US Held the Largest Share of the Food Flavors Market, 2017
Figure 39 North America: Market Snapshot
Figure 40 Europe: Market Snapshot
Figure 41 Key Developments of the Leading Players in the Food Flavors Market, 2015–2018
Figure 42 Market Evaluation Framework
Figure 43 Givaudan: Company Snapshot
Figure 44 International Flavors & Fragrances (IFF): Company Snapshot
Figure 45 International Flavors and Fragrances (IFF): SWOT Analysis
Figure 46 Symrise : Company Snapshot
Figure 47 Frutarom: Company Snapshot
Figure 48 Frutarom : SWOT Analysis
Figure 49 Sensient: Company Snapshot
Figure 50 Mane: Company Snapshot
Figure 51 Takasago: Company Snapshot
Figure 52 T. Hasegawa : Company Snapshot
Figure 53 Robertet: Company Snapshot

The global food flavors market is estimated at USD 13.56 billion in 2018 and is projected to grow at a CAGR of 4.8%, to reach USD 17.10 billion by 2023. Factors such as the growing inclination toward clean-label products and technological introductions to flavors such as microencapsulation and non-thermal techniques have been driving the flavors market.

Based on type, the fruits & nuts flavor accounted for the largest share, in 2018. Due to their wide application in areas such as bakery products, health drinks, frozen desserts, nutraceuticals, and nutrition bars. Vanilla is estimated as the second-largest type segment with respect to market share. Vanilla is largely used by food & beverage manufacturers. Recent trends in the food industry include consumers leaning toward natural flavors because of the health benefits associated with them.

The food flavors market, on the basis of application, is segmented into the beverages, dairy, confectionery, bakery, meat, and snacks & savory. The beverages segment accounted for the largest share in 2018, followed by snacks & savory products. Beverages such as carbonated, non-carbonated, and health drinks accounted for a larger share of the food flavors market.

On the basis of form, the liquid segment accounted for the larger share in 2018. Liquid flavors are the preferable form of flavors, due to high solubility and applied in almost all varieties of foods.

On the basis of origin, the artificial segment accounted for the larger share in 2018. Natural flavors are in demand due to the growth in consumer preference for natural products.

Asia Pacific accounted for the largest share of the food flavors market in 2018. This market is driven by increased awareness about natural food flavor products among consumers and inclination toward the health benefits provided by natural food flavors. South America is projected to be the fastest-growing market between 2018 and 2023. Emerging economies such as Brazil and Argentina play an important role in supplying food flavors. The demand for food flavors is increasing in the emerging economies of South America due to the growth of the processed food industry.

The major restraining factor for the food flavors market is the availability of natural flavors. Another factor could be the stability of natural flavors, which changes with fluctuations in atmospheric or processing conditions such as pH, temperature, and light.

Companies such as Givaudan (Switzerland), International Flavors & Fragrances (US), Firmenich (Switzerland), Symrise (Germany), and Frutarom (Israel) have acquired leading market positions through their broad product portfolios, along with a focus on diverse end-user segments. They are also focused on innovations and are geographically diversified.

Opportunities

Emerging markets & increasing spending power

An increase in the working population and the dominance of nuclear double-income families, especially in urban areas are trends that affect existing consumer lifestyles. Development in living standards has also contributed to the development of the convenience food market. Therefore, the market for food flavors is estimated to demonstrate high growth potential.

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.

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 on 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, implementation of new regulations and modifications in the existing regulations negatively affect the growth of the market.

New Product Launches, 2015-2017

Expansions and Investments, 2018

Acquisitions, 2018

Joint Ventures and Partnerships, 2016-2018

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