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

March 2023 | 143 pages | ID: F0A397773982EN
IMARC Group

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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?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL FOOD FLAVORS MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY TYPE

6.1 Natural
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Artificial
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY FORM

7.1 Dry
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Liquid
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY END USER

8.1 Beverages
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Dairy and Frozen Products
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Bakery and Confectionery
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Savory and Snacks
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5 Animal and Pet Food
  8.5.1 Market Trends
  8.5.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Archer-Daniels-Midland Company
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
    14.3.1.4 SWOT Analysis
  14.3.2 BASF SE
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
    14.3.2.4 SWOT Analysis
  14.3.3 Corbion N.V.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
  14.3.4 Firmenich SA
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
    14.3.4.3 SWOT Analysis
  14.3.5 Givaudan
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
    14.3.5.4 SWOT Analysis
  14.3.6 International Flavors & Fragrances Inc.
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 Financials
    14.3.6.4 SWOT Analysis
  14.3.7 Kerry Group plc
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
  14.3.8 Koninklijke DSM N.V.
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
    14.3.8.3 Financials
    14.3.8.4 SWOT Analysis
  14.3.9 Robertet Group
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
    14.3.9.3 Financials
  14.3.10 Sensient Technologies Corporation
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11 Symrise AG
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
    14.3.11.3 Financials
    14.3.11.4 SWOT Analysis
  14.3.12 Takasago International Corporation
    14.3.12.1 Company Overview
    14.3.12.2 Product Portfolio
    14.3.12.3 Financials
    14.3.12.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Food Flavors Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Food Flavors Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Food Flavors Market Forecast: Breakup by Form (in Million US$), 2023-2028
Table 4: Global: Food Flavors Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 5: Global: Food Flavors Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Food Flavors Market: Competitive Structure
Table 7: Global: Food Flavors Market: Key Players
 


LIST OF FIGURES

Figure 1: Global: Food Flavors Market: Major Drivers and Challenges
Figure 2: Global: Food Flavors Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Food Flavors Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Food Flavors Market: Breakup by Type (in %), 2022
Figure 5: Global: Food Flavors Market: Breakup by Form (in %), 2022
Figure 6: Global: Food Flavors Market: Breakup by End User (in %), 2022
Figure 7: Global: Food Flavors Market: Breakup by Region (in %), 2022
Figure 8: Global: Food Flavors (Natural) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Food Flavors (Natural) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Food Flavors (Artificial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Food Flavors (Artificial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Food Flavors (Dry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Food Flavors (Dry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Food Flavors (Liquid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Food Flavors (Liquid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Food Flavors (Beverages) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Food Flavors (Beverages) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Food Flavors (Dairy and Frozen Products) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Food Flavors (Dairy and Frozen Products) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Food Flavors (Bakery and Confectionery) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Food Flavors (Bakery and Confectionery) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Food Flavors (Savory and Snacks) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Food Flavors (Savory and Snacks) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Food Flavors (Animal and Pet Food) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Food Flavors (Animal and Pet Food) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: North America: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: North America: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: United States: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: United States: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Canada: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Canada: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia-Pacific: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia-Pacific: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: China: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: China: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Japan: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Japan: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: India: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: India: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: South Korea: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: South Korea: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Australia: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Australia: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Indonesia: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Indonesia: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Others: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Others: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Germany: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Germany: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: France: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: France: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United Kingdom: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United Kingdom: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Italy: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Italy: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Spain: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Spain: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Russia: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Russia: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Food Flavors Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Food Flavors Market: Breakup by Country (in %), 2022
Figure 74: Middle East and Africa: Food Flavors Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Global: Food Flavors Industry: SWOT Analysis
Figure 76: Global: Food Flavors Industry: Value Chain Analysis
Figure 77: Global: Food Flavors Industry: Porter's Five Forces Analysis


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