According to the report “Global Food Flavors Market”, published by Market Data Forecast, the Global Market has been estimated at USD 12.75 Billion in 2016 and is projected to reach USD 16.86 Billion by 2021, at a CAGR of 5.75% during the forecast period from 2016 to 2021.
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Food Flavours are commonly used to improve the taste of food products. Food flavors are made of three components taste, smell and colour. Flavors can be broadly classified as natural and synthetic flavors. Food and beverage industries require flavor for different purposes such as new product development, to add new product line and to change the taste of existing product.
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The market for food flavors is mainly driven due to high demand of new flavors from food and beverages industry and continuous innovation is driving the need for bringing up new products to market. Also, rising health awareness among the population, growing demand for organic food products and rise in the purchasing power are some of the other factors that are propelling the market growth. But, the market growth is mainly hindered due to FDA regulating the concentration range of synthetic flavors in food products and awareness among consumers about the risks associated with the intake of synthetic food additives.
Global market for Food Flavors is segmented based on type, source and application. By type, the market is further sub-segmented into Chocolate, Vanilla, Fruits & Nuts. By Origin, the market is further sub-segmented into Natural and Synthetic. By Application, the market is further sub-segmented into Beverages, Savory & Snacks, Bakery & Confectionery, Dairy & Frozen Products, Others. Beverage flavor products segment is the largest in terms of revenue, closely followed by bakery & confectionery and savory & snacks flavors segments.
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Food Flavors Market is segmented based on Type, Origin and Application into further sub-segments as follows:
- By type
- Fruits & Nuts
- By Origin
- By application
- Savory & Snacks
- Bakery & Confectionery
- Dairy & Frozen Products
- Based on Geography
- North America Food Flavors Market
- Europe Food Flavors Market
- Asia-Pacific Food Flavors Market
- Latin America Food Flavors Market
- Middle East and Africa Food Flavors Market
Kerry Group, Givaudan, Firmenich, Sensient Technologies Corporation, Symrise AG, Frutarom Industries, Archer Daniels Midland Company, DohlerGroup, AGRANA Group, SVZ International B.V. and SunOpta, Inc.are the major players of Global Food Flavors market.
The Food Flavors Market study offers the following deliverables:
- Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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