Rockville, July 06, 2023 (GLOBE NEWSWIRE) -- According to this new Fact.MR’s industry research, the Culinary Essence Market is valued at US$ 938.77 million in 2023 and is forecasted to expand at a CAGR of 3.8% from 2023 to 2033.
Culinary essences, also known as food essences or food flavors, are concentrated liquid or powdered forms of natural or artificial flavors that are added to enhance the taste and aroma of various food and beverage products. They are commonly utilized in the production of bakery goods, confectionery items, dairy products, beverages, sauces, dressings, and snacks, among others. Culinary essences are available in a wide range of flavors, including fruits & nuts; herbs & spices; and alcohol.
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Rising demand for processed and convenience foods is increasing the need for flavor enhancements to improve the taste of such products. Changing consumer lifestyles and an increasing interest in international cuisines are also contributing to the growth of the culinary essence market.
Consumers are seeking diverse and unique flavors in their food and beverages, which has led to the demand for a wide variety of culinary essences from different parts of the world. Foodservice establishments often rely on culinary essences to create signature dishes and unique flavor combinations to attract customers.
North America is a significant marketplace for culinary essence suppliers. The region is characterized by a well-established food and beverages industry and a diverse consumer base with a high demand for processed and convenience foods. Europe represents a mature market for culinary essence producers. The region has a rich culinary heritage and places a strong emphasis on high-quality and authentic flavors.
Key Takeaways from Market Study
- The global culinary essence market is projected to reach US$ 1.36 billion by 2033.
- Demand for culinary essence products in the United States is forecasted to increase at a CAGR of 3.6% during the next 10 years.
- The United Kingdom market is valued at US$ 38.5 million in 2023.
- Sales of culinary essences in China are estimated to reach US$ 325.78 million by 2033-end.
- Demand for fruit and nut flavor essences is estimated to increase at a CAGR of 4.1% over the coming decade.
“Rapid growth of the foodservice industry, including restaurants, cafes, and hotels, is boosting the sales of culinary essences,” says a Fact.MR analyst.
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Competitive Landscape
Key suppliers of food essence products are focusing on continuous product innovation and are expanding their culinary essence portfolios. They are investing in research and development initiatives to introduce new flavors, unique blends, and specialized formulations that cater to changing consumer preferences.
By offering a wide range of culinary essences, they aim to capture a larger market share and cater to diverse customer needs. Effective marketing and branding is also playing a crucial role in attracting a larger consumer base.
- In 2021, Givaudan introduced a brand-new line of all-natural food essence flavors under the name Tastepoint by Givaudan. These food essence flavors are intended to improve both the nutritional value and taste of plant-based protein products.
Key Companies Profiled
- Foster Clark Products Ltd.
- Dutch Heritage Gardens
- Peddler’s Son
- Gogia Chemical Industries Pvt. Ltd
- S-world Flavours & Fragrances
- Nielsen-Massey Vanillas, Inc.
- Lochhead Manufacturing Company
Winning Strategies
Key players in the culinary essence market are concentrating on product innovation to introduce new flavors, enhance existing formulations, and cater to changing consumer preferences. They are also expanding their presence into new geographic markets to tap into emerging opportunities.
- In 2020, Firmenich introduced a brand-new collection of natural flavors known as Naturals Together. This innovative range is specifically formulated to elevate the flavor and aroma of food and beverage offerings, while simultaneously catering to the increasing consumer preference for natural and sustainable ingredients.
Key Segments of Culinary Essence Industry Research
- By Flavor:
- Fruits & Nuts
- Strawberry
- Pineapple
- Vanilla
- Orange
- Rose
- Almond
- Others
- Herbs & Spices
- Saffron
- Cinnamon
- Clove
- Others
- Alcoholic
- Fruits & Nuts
- By Application:
- Bakery Products
- Confectionery
- Sweets
- Jams & Jellies
- Syrups
- Desserts
- Meat & Fish
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global culinary essence market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on flavor (fruits & nuts, herbs & spices, alcoholic) and application (bakery products, confectionery, sweets, jams & jellies, syrups, desserts, meat & fish), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Flavor Enhancers Market: Fact.MR, in its recently published research report, reveals that, expanding at a CAGR of 5.2%, the global flavor enhancers market is projected to rise from a valuation of US$ 3.66 billion in 2023 to US$ 6.08 billion by 2033-end.
Flavored Milk Market: The global flavored milk market is forecasted to progress at a CAGR of 7% from 2023 to 2033. The market stands at US$ 6 billion in 2023 and is predicted to reach US$ 12 billion by 2033-end.
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