Food Flavors Market

Food Flavors Market worth $17.1 billion by 2023

The report "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 Is Projected To Account for a Value of USD 17.1 Billion By 2023 High consumption of processed food products among consumers has encouraged manufacturers to opt for ingredients that enhance the taste and texture. Manufacturers are increasingly opting for a range of food flavors to cater to the increasing preferences and demands of customers. According to MarketsandMarkets, the food flavors market is projected to account for a value of USD 17.1 billion by 2023, recording a CAGR of 4.8%.

Browse 177 market data Tables and 53 Figures spread through 203 Pages and in-depth TOC on "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"
View detailed Table of Content here -https://www.marketsandmarkets.com/Market-Reports/food-flavors-market-93115891.html

The Fruits & Nuts Segment To Hold the Largest Share in the Food Flavors Market During the Forecast Period

Increasing demand for protein-rich food products among consumers has encouraged retail outlets to allocate shelves to a range of desserts, energy bars, beverages, and bakery products. As the demand for various bakery and protein-rich products increase, manufacturers are investing in fruits & nuts to enhance the quality of food products and increase their nutrient quotient. Due to these factors, the fruits & nuts segment is projected to account for the largest share in the food flavors market during the forecast period.

The Demand for Food Flavors To Remain Concentrated in the Beverage Segment During the Forecast Period

With the increasing inclination toward health-enriching and energy-boosting beverage products, manufacturers are modifying their recipes to include nutrition-dense ingredients. Also, consumers are more willing to try new flavors offered in beverages, which has encouraged manufacturers to develop innovative flavors and new products. Due to these factors, the demand for food flavors is projected to remain concentrated in the beverage segment during the forecast period.

Asia Pacific To Be a Leading Region in the Food Flavors Market Through 2023

Consumption patterns of consumers are increasingly influenced by the weather conditions in their countries, due to which they are willing to opt for new flavors in food & beverages. Banking on the diverse preferences of consumers, manufacturers focus on allocating their budget to the development of novel and innovative flavors. Through new product developments, manufacturers in this region focus on expanding their customer base. Due to these factors, Asia Pacific is projected to lead in the food flavors market during the forecast period.

International Flavors & Fragrances (US), Givaudan (Switzerland), Firmenich (Switzerland), Frutarom (Israel), and Symrise (Germany) are some of the leading players operating in the food flavors market. Key players in this market are opting for strategies such as expansions, new product launches, and partnerships to improve their brand image.

All in all, the food flavors market is projected to witness steady growth during the forecast period. As consumers are increasingly becoming health conscious and sensitive to the ingredients used in various food products, manufacturers focus on opting for health-enriching ingredients. To retain customer loyalty and increase their customer base, key players focus on utilizing a range of food colors. These factors are projected to reflect positively on the market growth.

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Report Code
FB 2256
PR Published ON
8/16/2018
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