Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "Food Flavors - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Food Flavors Market to Reach $24.9 Billion by 2030
The global market for Food Flavors estimated at US$19.4 Billion in the year 2023, is projected to reach a revised size of US$24.9 Billion by 2030, growing at a CAGR of 3.2% over the analysis period 2023-2030.
The report begins with an introduction to food flavors, underscoring their significance within the broader context of the global food additives market. A snapshot of the current economic landscape sets the stage for understanding market dynamics. A competitive landscape analysis follows, detailing the global key competitors' percentage market share in 2021 and assessing their market presence categorized as strong, active, niche, or trivial.
The report then delves into the global market prospects and outlook for food flavors, identifying salient drivers such as rising income levels, growing health awareness, and increasing applications in the food and beverage industry. It highlights the high demand for processed foods and consumer preferences for natural ingredients, with a specific focus on the growing popularity of liquid-form food flavors. Market trends reveal a dominance of beverages and rapid growth in the savory and snacks segment.
Natural Food Flavors, one of the segments analyzed in the report, is projected to record 3.6% CAGR and reach US$12.2 Billion by the end of the analysis period. Growth in the Synthetic Food Flavors segment is estimated at 2.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $5.1 Billion, While China is Forecast to Grow at 4.5% CAGR
The Food Flavors market in the U.S. is estimated at US$5.1 Billion in the year 2023.
The Asia-Pacific region emerges as a key player, enjoying a significant revenue share in the global food flavors market. Finally, recent market activities are examined to provide insights into ongoing developments in the industry.
China, the world's second largest economy, is forecast to reach a projected market size of US$4.4 Billion by the year 2030 trailing a CAGR of 4.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 2.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.
Exciting New Report Features
- Full access to influencer engagement stats
- Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
- Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
- Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
- Complimentary report updates for one year
- Competitor coverage with global market shares of major players
- Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
- Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 664 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $19.4 Billion |
| Forecasted Market Value (USD) by 2030 | $24.9 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- Food Flavors - A Prelude
- Flavors - The Largest Segment of the Global Food Additives Market
- Global Economic Update
- Competitive Landscape
- Food Flavors - Global Key Competitors Percentage Market Share in 2021 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2021 (E)
- Global Market Prospects and Outlook
- Salient Drivers for the Global Food Flavors Market
- Rising Income & Health Awareness Push Market Growth
- Increasing Applications in Food & Beverage Industry
- High Demand for Processed Foods
- Consumer Attention on Natural Ingredients
- Liquid-Form Food Flavors to Enjoy Immense Demand
- Beverages Rule while Savory & Snacks Post Fastest Growth
- Asia-Pacific Enjoys Scoop-Full of Revenue Share on Global Food Flavors Market
- Natural and Savory & Snacks: Segments Hitting Perfect Spot in Food Flavors Market
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Growing Food & Beverage Industry and Robust Application Opportunity in Beverages Drive Demand for Food Flavors
- Demand Rises for Healthy and All-Natural Flavors
- Flavor: An Ever-Changing Variable
- Rising Demand for Ethnic Flavors in Packaged Food Products
- Confectionery Category Favors Intense, Complex Flavors
- Savory: A Flavor to Savor
- New, Emerging Flavors in Major Food Categories
- Increasing Demand for Citrus Flavors
- Growing Appeal of Dairy-based Food Flavors
- Immense Gains for Vegan & Plant-based Flavors
- Innovative Flavors & Sustainability as Key Influencers in Snacks Market
- New Omnichannel Eating
- In-Tune with Immune
- Newstalgia and Nostalgia
- Flavor Mashups
- Innovations in Flavor Science and Technology are Serving Healthier Desserts and Confections
- Tapping into the Nostalgia Power
- Better-for-you-and-your-Taste Buds
- Spicy and Earthy
- Giving Classics a Twist
- Sweet Plus
- Fermented Foods Witness Increased Popularity
- Street Food
- Rise of Health Megatrends Bolsters the Use of Natural Food Enhancers in Bakery Products
- Surging Eclectic Flavor Combination Demand Encourages Flavor Manufacturers in North America to Adopt New Flavor Profiles
- Flavors Deep Dive
- Surging Demand for Sustainable and Natural Flavors
- Use of Cannabis as a Natural Ingredient to Develop Flavors
- Favorable Economic and Demographic Trends Strengthen Market Prospects
- Ballooning Global Population
- World Population by Geographic Region (2018-2050) (in Thousands)
- Expanding Urban Population
- World Urban Population in Thousands: 1950-2050P
- Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 2000, 2020 & 2050
FOCUS ON SELECT PLAYERS(Total 145 Featured)
- A&B Ingredients, Inc.
- Archer-Daniels-Midland Company (ADM)
- Ajinomoto Group
- Bell Flavours & Fragrances
- Cargill, Incorporated
- DPO International Sdn. Bhd.
- Firmenich SA
- Givaudan SA
- Huabao International Holdings Limited
- International Flavors & Fragrances Inc.
- Kerry Group plc
- Koninklijke DSM N.V.
- Mane SA
- Robertet Group
- S.H. Kelkar & Company Limited (Keva)
- Sensient Technologies Corporation
- Symrise AG
- T. Hasegawa Co., Ltd.
- Takasago International Corporation
For more information about this report visit https://www.researchandmarkets.com/r/4wm461
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