Global Floral Flavors Market - 2023-2030

Global Floral Flavors Market - 2023-2030

The Global Floral Flavors Market reached US$ 324.5 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 623.2 million by 2030. The market is growing at a CAGR of 8.5% during the forecast period 2023-2030.

Floral flavors are obtained by extracting or synthesizing natural compounds found in flowers. They capture the delicate and pleasant fragrances of flowers, allowing manufacturers to incorporate these unique and aromatic profiles into their products. Common floral essence includes rose, lavender, jasmine, hibiscus, elderflower, violet, and orange blossom. Consumers today are increasingly concerned about food and beverage ingredients.

Floral flavors are natural flavors obtained from flowers that align with the desire for natural and minimally processed ingredients. This perception is driving the floral flavor market growth. The primary end-user of floral flavor is the food and beverage industry. For instance, the floral flavor application includes beverages, dairy products, baked goods, and confectionery products.

Market Dynamics

Increasing Consumer Demand for Novel and Exotic Flavour in Food and Beverage is Driving the Market Growth of Floral Flavour

Consumers are becoming more adventurous in their culinary experiences and are seeking unique flavor profiles to enhance their food and beverage choices. Floral flavors offer a distinct and intriguing taste profile, providing an alternative to traditional flavors. The flavor industry section generated around 18 billion euros in 2022, making it the sector with the largest market value.

Floral flavors are often associated with natural and botanical ingredients, which aligns with the growing consumer interest in healthier and more natural food options. Overall, the increasing consumer demand for novel and exotic flavors and the desire for healthier and visually appealing options has driven the market growth of floral flavors in the food and beverage industry.

Allergies and Sensitivities Can Impact the Market Growth of Floral Flavors.

Allergies associated with floral flavors can vary depending on the flower or floral component used in the flavoring. For instance, Jasmine flowers cause allergic reactions in some individuals. Symptoms may include skin rashes, itching, redness, sneezing, nasal congestion, and in severe cases, difficulty breathing.

Chamomile flowers are used in herbal teas and other products for their floral flavor and calming properties. However, in rare cases, some individuals may have allergic reactions to chamomile, resulting in skin rashes, itching, hives, or even anaphylaxis. Individuals with allergies or sensitivities to certain flowers or floral components may actively avoid products that contain floral flavors. This reduces the potential consumer base for floral-flavored products, limiting market demand.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The Global Floral Flavors Market is segmented based on product type, application, and region.

The Versatility and Health Benefits of Hibiscus

In terms of type, the floral flavor market is divided into jasmine, rose, elderflower, hibiscus, lavender, orange blossom, chrysanthemum, and others.

In 2022, hibiscus held the highest share of the floral flavor market. Hibiscus is a popular flower in floral flavors due to its distinct taste and aroma. Hibiscus flavors can be used in many products, including teas, beverages, confectioneries, desserts, and savory dishes. Hibiscus has various benefits, including antioxidant properties and potential cardiovascular health effects. The growing consumer interest in functional foods and beverages has contributed to the popularity of hibiscus-flavored products, further driving its market share.

Geographical Analysis

Rising Interest in Natural and Botanical Flavors in Asia-Pacific Region

Asia Pacific region was considered one of the significant contributors to the floral flavor market. Statista said the market for flavors and fragrances in the Asia Pacific area was worth over 12.56 billion dollars in 2019. This amount was predicted to reach 15.87 billion US dollars in 2024.

The Asia Pacific region has a growing preference for natural and botanical flavors. Floral flavors are often perceived as natural and have a clean label appeal, aligning with the increasing demand for healthier, more authentic food and beverage options. Hence, rising interest in natural and botanical flavors is driving market growth.

Competitive Landscape

The major global players in the market include International Flavors & Fragrances Inc., Mane SA, Lionel Hitchen, Parker Types, Symrise AG, Firmenich SA, Synergy Flavors, Blue Pacific Flavors, Inc., Abelei Inc., Sensient Technologies Corporation.

Why Purchase the Report?
• To visualize the Global Floral Flavors Market segmentation based on product type, application, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous floral flavors market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Floral Flavors Market Report Would Provide Approximately 53 Tables, 53 Figures And 200 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies