The global food flavors market size is predicted to grow at a CAGR of 3.5% between 2022 and 2027, reaching a value of $21.3 billion by 2027 from a projection of $18.0 billion in 2022. Convenience is a prime concern for present-day consumers, who frequently lack time to make wholesome food and beverages at home due to cultural upheavals and dynamic lifestyle changes. Hesitant to forgo nutrition, they seek ready-made substitutes that can save time without jeopardizing their health objectives.
However, there is much loss of natural food flavors as convenience foods undergo extensive processing. To compensate for this loss, manufacturers are widely employing food flavors, both natural and artificial, to improve the overall aroma of food and beverages, hence fueling the expansion of the food flavor market. At the same time, constant innovations, increased investment in R&D, and a surging demand for variety in foods and beverages have led to extensive use of flavors by producers. Flavors can be created synthetically or can be derived naturally from fruits, botanical extracts, meat, spices, herbs, and essential oils.
1. Natural Flavors Dominance: Consumers continue to show a preference for natural flavors over artificial ones. There has been a growing demand for food products with clean labels, leading to an increased use of natural ingredients and flavors derived from fruits, vegetables, herbs, and spices.
2. Health and Wellness Focus: With an increasing awareness of health and wellness, there has been a surge in demand for functional flavors. This includes flavors with perceived health benefits, such as those associated with antioxidants or other bioactive compounds.
3. Exotic and Ethnic Flavors: Consumers are increasingly adventurous when it comes to food, leading to a rise in the popularity of exotic and ethnic flavors. Unique and authentic tastes from different regions around the world are finding their way into mainstream food products.
4. Plant-Based and Vegan Flavors: The growing trend toward plant-based and vegan lifestyles has influenced the food flavors market. Plant-based flavors, especially those mimicking meat and dairy, are in high demand as consumers seek alternatives that align with their dietary choices.
5. Innovation in Savory Flavors: There has been significant innovation in savory flavors, with a focus on umami and bold taste profiles. This extends to snack foods, ready meals, and other savory applications.
6. Customization and Personalization: Companies are increasingly offering customizable and personalized flavor options to cater to individual preferences. This can include the ability to mix and match flavors or even create unique blends.
7. Clean Label and Transparency: Consumers are becoming more conscious of the ingredients in their food, leading to a demand for clean label products. Brands are responding by providing transparent information about the sourcing and composition of their flavorings.
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A shift in demand for natural and sustainable flavors
The consumer demand for international flavors has been sparked by aggressive marketing tactics, globalization, and market liberalization. Consumers want to experience a variety of flavors and cuisines that claim to be “natural” and “safe” without expending excessive time and effort. As a result, there is a greater demand for natural flavors, which has led to the introduction of new flavor-infused goods. Many consumers express interest in unexpected flavors presented in well-known forms and are willing to test new flavors accompanied by detailed label descriptions. According to the International Food Information Council’s (IFIC) June 2021 survey, 64% of adults in the US claim that they tend to prioritize foods made with clean ingredients, and 63% of adults report that the ingredients in a food or beverage have a moderate influence on their purchasing decision. The report further reveals that 48% of consumers seek foods that contain natural flavors. Based on the IFIC’s 2021 Food and Health Survey, 20% of American consumers also report routinely purchasing foods and beverages that claim clean ingredients on the food label. The demand for natural flavors is rising as customers increasingly choose meals and beverages with natural tastes and product formulations for health advantages, from blueberry-flavored protein drinks to chocolate- and rose-flavored teas.
The key players in the food flavors industry include Givaudan (Switzerland), International Flavors and Fragrances (IFF) (US), Symrise (Germany), Firmenich (Switzerland), and Mane (France).
North America dominated the food flavors market in 2021
North America is the largest market for food flavors owing to the growing demand for processed and functional food products influenced by the hectic lifestyle and changing eating habits of the consumers in this region. The growth could be attributed to its ever-expanding food & beverage processing industry and the increasing popularity of functional foods. North America harbors some of the leading food and beverage manufacturing companies, such as ADM, Sensient, and Synergy Flavors, continuously upgrading their product portfolios to maintain their position as key players in the food flavors market, boosting the growth of the same. Presence of companies such as ADM (US), International Flavors & Fragrances Inc. (US), Sensient Technologies Corporation (US), Synergy Flavors, Inc. (US) in the North American region contributes to the dominant position of the region.
Key Questions Addressed by Food Flavors Market Report:
1. Which region is projected to account for the largest share of the food flavors market?
2. What is the forecasted size of the global food flavors market?
3. Which food flavor types are considered in the study and which segments are projected to have promising growth rates in the future?
4. Which are the key players in the food flavors market?
5. What kind of information is provided in the competitive landscape section?
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