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Asia Pacific Aroma Ingredients for Food and Beverages Market Forecast to 2030 - Regional Analysis - by Type {Synthetic (Terpenes, Aldehydes, Aliphatic, and Others) and Natural (Essential Oils, Herbal Extracts, Oleoresins, and Others)} and Application (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Sweet and Savory Snacks, RTE and RTC Meals, and Others)

August 2024 | 128 pages | ID: A11A9601C17DEN
The Insight Partners

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The Asia Pacific aroma ingredients for food and beverages market was valued at US$ 426.46 million in 2022 and is expected to reach US$ 638.22 million by 2030; it is estimated to register a CAGR of 5.2% from 2022 to 2030.

Rising Demand for Aromas in Plant-Based Food and Beverages Boosts Asia Pacific Aroma Ingredients for Food and Beverages Market

In recent years, the demand for plant-based food and beverages has surged owing to rising consumer awareness about health and wellness, as well as due to environmental and ethical reasons. The raw ingredients of plant-based products such as pea, almond, or soy protein contribute to the characteristics of aroma volatiles, which may not be desirable. For instance, pea protein has been known to impart beany flavor that must be reduced in the final products. Aroma ingredients play a critical role in enhancing the sensory appeal of plant-based food and beverages by imparting familiar and desirable scents, thus making them more palatable.

Aroma ingredients offer a versatile and customized solution for manufacturers seeking to develop a wide range of plant-based products that cater to diverse consumer preferences and dietary needs. By harnessing aroma ingredients derived from natural sources such as fruits, vegetables, herbs, and spices, manufacturers can create authentic and appealing flavors and scents that resonate with health-conscious consumers, thereby contributing to the market growth. Further, the rising sophistication of plant-based culinary offerings, including meat alternatives, dairy alternatives, and plant-based snacks and beverages, presents ample opportunities for aroma ingredients manufacturers to innovate and collaborate with food and beverage companies. Thus, the rising demand for aromas in plant-based food and beverages is expected to fuel the aroma ingredients for food and beverages market growth during the forecast period.

Asia Pacific Aroma Ingredients for Food and Beverages Market Overview

In Asia Pacific, the developed and developing countries are witnessing growth in urbanization, coupled with the rising middle-class population, offering several opportunities to the market players. The region is experiencing demand for diverse and innovative food and beverage options. The diverse and multicultural nature of Asia Pacific has resulted in diverse dietary preferences. The region reports increased demand for plant-based food products coupled with the surge in the vegan population. In addition, the changing consumer preferences toward healthy alternatives and surging environmental concerns post-COVID-19 pandemic have resulted in the demand for plant-based foods. According to the Biospringer, around 24% of consumers in Asia Pacific are limiting their meat consumption for environmental convictions. Aroma ingredients play a crucial role in enabling manufacturers to create plant-based food products with exciting and novel aroma combinations, enhancing the appeal of their products to a wider consumer base.

In addition, the region is experiencing a significant shift toward functional and fortified products, contributing to market growth. The functional and fortified products contain ingredients with strong and undesirable aromas, wherein the aroma ingredients are used to create a desirable product. Further, the increasing demand for ready-to-eat and ready-to-cook products in the region has contributed to the growth of aroma ingredients for food and beverages market.

Asia Pacific Aroma Ingredients for Food and Beverages Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Aroma Ingredients for Food and Beverages Market Segmentation

The Asia Pacific aroma ingredients for food and beverages market is categorized into type, application, and country.

Based on type, the Asia Pacific aroma ingredients for food and beverages market is bifurcated into synthetic and natural. The synthetic segment held a larger market share in 2022. Furthermore, the synthetic segment is further sub segmented into terpenes, aldehydes, aliphatic, and others. Additionally, the natural segment is further sub segmented into essential oils, herbal extracts, oleoresins, and others.

In terms of application, the Asia Pacific aroma ingredients for food and beverages market is categorized into bakery and confectionery, dairy and frozen desserts, beverages, sweet and savory snacks, RTE and RTC meals, and others. The bakery and confectionery segment held the largest market share in 2022.

By country, the Asia Pacific aroma ingredients for food and beverages market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific aroma ingredients for food and beverages market share in 2022.

International Flavors & Fragrances Inc; Sensient Technologies Corp; BASF SE; V MANE FILS SAS; Symrise AG; Firmenich International SA; T. Hasegawa Co., Ltd.; Archer-Daniels-Midland Co; and Kerry Group Plc are some of the leading companies operating in the Asia Pacific aroma ingredients for food and beverages market.
1. INTRODUCTION

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. EXECUTIVE SUMMARY

2.1 Key Market Insights
2.2 Market Attractiveness

3. RESEARCH METHODOLOGY

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. ASIA PACIFIC AROMA INGREDIENTS FOR FOOD AND BEVERAGES MARKET LANDSCAPE

4.1 Overview
4.2 Porter's Five Forces Analysis
  4.2.1 Bargaining Power of Suppliers
  4.2.2 Bargaining Power of Buyers
  4.2.3 Threat of New Entrants
  4.2.4 Competitive Rivalry
  4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
  4.3.1 Raw Material Suppliers
  4.3.2 Manufacturers
  4.3.3 Distributors/Suppliers
  4.3.4 Application
4.4 List of Vendors in the Value Chain
4.5 Qualitative Analysis of the Manufacturing Process of Aroma Ingredients

5. ASIA PACIFIC AROMA INGREDIENTS FOR FOOD AND BEVERAGES MARKET - KEY MARKET DYNAMICS

5.1 Market Drivers
  5.1.1 Increasing Importance of Aroma in Food & Beverage Industry
  5.1.2 Strategic Initiatives by Key Market Players
5.2 Market Restraints
  5.2.1 Regulatory Compliances
5.3 Market Opportunities
  5.3.1 Rising Demand for Aromas in Plant-Based Food and Beverages
5.4 Future Trends
  5.4.1 Rising Trend for Natural Aromas
5.5 Impact of Drivers and Restraints:

6. AROMA INGREDIENTS FOR FOOD AND BEVERAGES MARKET - ASIA PACIFIC ANALYSIS

6.1 Aroma Ingredients for Food and Beverages Market Revenue (US$ Million), 2020-2030
6.2 Aroma Ingredients for Food and Beverages Market Forecast Analysis

7. ASIA PACIFIC AROMA INGREDIENTS FOR FOOD AND BEVERAGES MARKET ANALYSIS - BY TYPE

7.1 Synthetic
  7.1.1 Overview
  7.1.2 Synthetic: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
    7.1.2.1 Terpenes
      7.1.2.1.1 Overview
      7.1.2.1.2 Terpenes: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
    7.1.2.2 Aldehydes
      7.1.2.2.1 Overview
      7.1.2.2.2 Aldehydes: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
    7.1.2.3 Aliphatic
      7.1.2.3.1 Overview
      7.1.2.3.2 Aliphatic: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
    7.1.2.4 Others
      7.1.2.4.1 Overview
      7.1.2.4.2 Others: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
7.2 Natural
  7.2.1 Overview
  7.2.2 Natural: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
    7.2.2.1 Essential Oils
      7.2.2.1.1 Overview
      7.2.2.1.2 Essential Oils: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
    7.2.2.2 Herbal Extracts
      7.2.2.2.1 Overview
      7.2.2.2.2 Herbal Extracts: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
    7.2.2.3 Oleoresins
      7.2.2.3.1 Overview
      7.2.2.3.2 Oleoresins: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
    7.2.2.4 Others
      7.2.2.4.1 Overview
      7.2.2.4.2 Others: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)

8. ASIA PACIFIC AROMA INGREDIENTS FOR FOOD AND BEVERAGES MARKET ANALYSIS - BY APPLICATION

8.1 Bakery and Confectionery
  8.1.1 Overview
  8.1.2 Bakery and Confectionery: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
8.2 Dairy and Frozen Desserts
  8.2.1 Overview
  8.2.2 Dairy and Frozen Desserts: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
8.3 Beverages
  8.3.1 Overview
  8.3.2 Beverages: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Sweet and Savory Snacks
  8.4.1 Overview
  8.4.2 Sweet and Savory Snacks: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
8.5 RTE and RTC Meals
  8.5.1 Overview
  8.5.2 RTE and RTC Meals: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
8.6 Others
  8.6.1 Overview
  8.6.2 Others: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)

9. ASIA PACIFIC AROMA INGREDIENTS FOR FOOD AND BEVERAGES MARKET - COUNTRY ANALYSIS

9.1 Asia Pacific
  9.1.1 Asia Pacific: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast Analysis - by Country
    9.1.1.1 Asia Pacific: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast Analysis - by Country
    9.1.1.2 Australia: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
      9.1.1.2.1 Australia: Aroma Ingredients for Food and Beverages Market Breakdown, by Type
      9.1.1.2.2 Australia: Aroma Ingredients for Food and Beverages Market Breakdown, by Application
    9.1.1.3 China: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
      9.1.1.3.1 China: Aroma Ingredients for Food and Beverages Market Breakdown, by Type
      9.1.1.3.2 China: Aroma Ingredients for Food and Beverages Market Breakdown, by Application
    9.1.1.4 India: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
      9.1.1.4.1 India: Aroma Ingredients for Food and Beverages Market Breakdown, by Type
      9.1.1.4.2 India: Aroma Ingredients for Food and Beverages Market Breakdown, by Application
    9.1.1.5 Japan: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
      9.1.1.5.1 Japan: Aroma Ingredients for Food and Beverages Market Breakdown, by Type
      9.1.1.5.2 Japan: Aroma Ingredients for Food and Beverages Market Breakdown, by Application
    9.1.1.6 South Korea: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
      9.1.1.6.1 South Korea: Aroma Ingredients for Food and Beverages Market Breakdown, by Type
      9.1.1.6.2 South Korea: Aroma Ingredients for Food and Beverages Market Breakdown, by Application
    9.1.1.7 Rest of Asia Pacific: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
      9.1.1.7.1 Rest of Asia Pacific: Aroma Ingredients for Food and Beverages Market Breakdown, by Type
      9.1.1.7.2 Rest of Asia Pacific: Aroma Ingredients for Food and Beverages Market Breakdown, by Application

10. COMPETITIVE LANDSCAPE

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. INDUSTRY LANDSCAPE

11.1 Overview
11.2 New Product Development
11.3 Partnerships, Expansions, and Mergers and Acquisitions

12. COMPANY PROFILES

12.1 International Flavors & Fragrances Inc
  12.1.1 Key Facts
  12.1.2 Business Description
  12.1.3 Products and Services
  12.1.4 Financial Overview
  12.1.5 SWOT Analysis
  12.1.6 Key Developments
12.2 Sensient Technologies Corp
  12.2.1 Key Facts
  12.2.2 Business Description
  12.2.3 Products and Services
  12.2.4 Financial Overview
  12.2.5 SWOT Analysis
  12.2.6 Key Developments
12.3 T. HASEGAWA CO., Ltd.
  12.3.1 Key Facts
  12.3.2 Business Description
  12.3.3 Products and Services
  12.3.4 Financial Overview
  12.3.5 SWOT Analysis
  12.3.6 Key Developments
12.4 BASF SE
  12.4.1 Key Facts
  12.4.2 Business Description
  12.4.3 Products and Services
  12.4.4 Financial Overview
  12.4.5 SWOT Analysis
  12.4.6 Key Developments
12.5 V. MANE Fils SAS
  12.5.1 Key Facts
  12.5.2 Business Description
  12.5.3 Products and Services
  12.5.4 Financial Overview
  12.5.5 SWOT Analysis
  12.5.6 Key Developments
12.6 Symrise AG
  12.6.1 Key Facts
  12.6.2 Business Description
  12.6.3 Products and Services
  12.6.4 Financial Overview
  12.6.5 SWOT Analysis
  12.6.6 Key Developments
12.7 Firmenich International SA
  12.7.1 Key Facts
  12.7.2 Business Description
  12.7.3 Products and Services
  12.7.4 Financial Overview
  12.7.5 SWOT Analysis
  12.7.6 Key Developments
12.8 Archer-Daniels-Midland Co
  12.8.1 Key Facts
  12.8.2 Business Description
  12.8.3 Products and Services
  12.8.4 Financial Overview
  12.8.5 SWOT Analysis
  12.8.6 Key Developments
12.9 Kerry Group Plc
  12.9.1 Key Facts
  12.9.2 Business Description
  12.9.3 Products and Services
  12.9.4 Financial Overview
  12.9.5 SWOT Analysis
  12.9.6 Key Developments

13. APPENDIX

13.1 About The Insight Partners

LIST OF TABLES

Table 1. Asia Pacific Aroma Ingredients for Food and Beverages Market Segmentation
Table 2. List of Vendors
Table 3. Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Table 4. Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Type
Table 5. Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Application
Table 6. Asia Pacific: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Country
Table 7. Australia: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Type
Table 8. Australia: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Application
Table 9. China: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Type
Table 10. China: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Application
Table 11. India: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Type
Table 12. India: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Application
Table 13. Japan: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Type
Table 14. Japan: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Application
Table 15. South Korea: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Type
Table 16. South Korea: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Application
Table 17. Rest of Asia Pacific: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Type
Table 18. Rest of Asia Pacific: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million) - by Application
Table 19. Heat Map Analysis by Key Players

LIST OF FIGURES

Figure 1. Asia Pacific Aroma Ingredients for Food and Beverages Market Segmentation, by Country
Figure 2. Aroma Ingredients for Food and Beverages Market - Porter's Analysis
Figure 3. Ecosystem: Aroma Ingredients for Food and Beverages Market
Figure 4. Aroma Ingredients for Food and Beverages Market - Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Aroma Ingredients for Food and Beverages Market Revenue (US$ Million), 2020-2030
Figure 7. Aroma Ingredients for Food and Beverages Market Share (%) - by Type (2022 and 2030)
Figure 8. Synthetic: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 9. Terpenes: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 10. Aldehydes: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 11. Aliphatic: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 12. Others: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 13. Natural: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 14. Essential Oils: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 15. Herbal Extracts: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 16. Oleoresins: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 17. Others: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 18. Aroma Ingredients for Food and Beverages Market Share (%) - by Application (2022 and 2030)
Figure 19. Bakery and Confectionery: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 20. Dairy and Frozen Desserts: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 21. Beverages: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 22. Sweet and Savory Snacks: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 23. RTE and RTC Meals: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 24. Others: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 25. Asia Pacific Aroma Ingredients for Food and Beverages Market, by Key Countries - Revenue (2022) (US$ Million)
Figure 26. Asia Pacific: Aroma Ingredients for Food and Beverages Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 27. Australia: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 28. China: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 29. India: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 30. Japan: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 31. South Korea: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 32. Rest of Asia Pacific: Aroma Ingredients for Food and Beverages Market - Revenue and Forecast to 2030 (US$ Million)
Figure 33. Company Positioning & Concentration


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