Food Flavors Market

Market Leaders: International Flavors & Fragrances and Givaudan are Focusing on Developing new Products and Expanding Their Businesses to Strengthen their Market Position in Food Flavors Market

The global food flavors market size 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% during the forecast period. The demand for flavors is increasing significantly, as they are used across various food & beverage applications.

Key players in this market include 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  (UK), China Flavors and Fragrances (China), Lucta (Spain), and Solvay (Belgium).

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International Flavors & Fragrances (US) is a global leader in the development of a wide range of unique and unexpected tastes, scents, ingredients for products. The country has production units pin over 100 locations and 100 research & development units. The company has been granted 415 patents since 2000.

IFFs recent acquisition of Frutarom (US) has led to the increased brand and product portfolio and reach to international customers. It has significantly increased our natural products and therefore, the percentage of ingredients that are natural or crop-related has increased. The company’s flavor products also include extracts and seasonings derived from various fruits, vegetables, nuts, herbs, spices, and microbiologically derived ingredients. Natural ingredients are derived from flowers, fruits, and other botanical products, as well as from animal products, and contain varying numbers of organic chemicals that are responsible for the fragrance or flavor of the natural product. Natural products are purchased in processed or semi-processed form. Lately, the company has announced an agreement to combine with DuPont’s Nutrition & Biosciences business (N&B) represents the company’s strategies in advancing towards a strong global presence.

Givaudan (Switzerland) is one of the major players in the food flavor markets. The company offers its flavor products that enhance aroma and texture. The company offers flavors in dairy, beverages, sweet food products, and savory food products. The company has 148 locations worldwide, due to which it holds a leading position in the global market. It records 34% of the flavor division sales through beverages and 32% of the fragrance division sales through active ingredients and fine fragrances. The company is growing significantly in the Middle Eastern region, mainly in countries such as Morocco, Egypt, and South Africa. It also has a strong presence in the South American region.

Related Report:

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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Report Code
FB 2256
RI Published ON
6/17/2020
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