Food Flavors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Food Flavors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global food flavors market size reached US$ 16.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.29% during 2023-2028.

Food flavors refer to ingredients added in food items to intensify and improve the sensation of odor, taste, aroma and texture. Natural, synthetic and natural identical are some of the common variants of food flavors. They are manufactured using essential oils, synthetic organic chemicals, organic acids, salts, glycerol and propylene glycol. Food flavors are widely used in sauces, dairy products, cereals, beverages, soups, marinades, bakery products, bars, snacks and confectionary items. These flavors are incorporated in food products to offer a unique flavor, such as sour, bitter, sweet, and meaty and preserve the flavor after processing.

Food Flavors Market Trends:
The increasing demand for ready-to-eat (RTE) food products across the globe is one of the key factors creating a positive outlook for the market. Food flavors are widely used in packaged food products to maintain the taste and survive under acidic conditions. Additionally, the widespread product utilization in the bakery and confectionery items, such as cookies, breads, cakes, pies, rolls and pretzels, is also favoring the market growth. Apart from this, various product innovations, such as the introduction of novel, combinational flavors, such as fruits, chocolate. and nuts, to give a natural aroma to edible products, are providing an impetus to the market growth. In line with this, the increasing demand for natural ingredients and plant-based food flavors due to the rising health awareness as it assists in reducing the harmful effects of chemical additives on the body is positively impacting the market growth. Other factors, including increasing demand for commercialized and clean-label food products with natural flavors, extensive research and development (R&D) activities and the rising expenditure capacities among consumers, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global food flavors market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form and end user.

Breakup by Type:

Natural
Artificial

Breakup by Form:

Dry
Liquid

Breakup by End User:

Beverages
Dairy and Frozen Products
Bakery and Confectionery
Savory and Snacks
Animal and Pet Food

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer-Daniels-Midland Company, BASF SE, Corbion N.V., Firmenich SA, Givaudan, International Flavors & Fragrances Inc., Kerry Group plc, Koninklijke DSM N.V., Robertet Group, Sensient Technologies Corporation, Symrise AG and Takasago International Corporation.

Key Questions Answered in This Report

1. What was the size of the global food flavors market in 2022?
2. What is the expected growth rate of the global food flavors market during 2023-2028?
3. What are the key factors driving the global food flavors market?
4. What has been the impact of COVID-19 on the global food flavors market?
5. What is the breakup of the global food flavors market based on the type?
6. What is the breakup of the global food flavors market based on the end user?
7. What are the key regions in the global food flavors market?
8. Who are the key players/companies in the global food flavors market?