Food flavors have become an integrated part of the food & beverages industry owing to their wide applications. It plays a vital role in enhancing the flavor of the food and satisfies the taste buds of food loving people. With the changing food habits and the majority of the people looking for different flavors, a wide range of food flavors are popping up in the market.
Changes in consumer trends for food including convenience, healthy food, innovative options, snacking & treats, and on-the-go have led to the growing demand for food flavors. This is majorly fueling the growth of the global food flavors market. Growing demand for natural ingredients from the consumer and expanding bakery & confectionery sector is contributing to the growth of the market. Change in lifestyle, increase in disposable income, and growing purchasing power are some of the additional factors that are fuelling the growth of the market. Moreover, the growing demand for clean label food products, increase in marketing strategies for organic food, and the growing attraction of exotic flavors are also some of the factors that are equally contributing to the growth of the market. Furthermore, advanced technologies used by the manufacturers to launch better varieties of food flavors may lead to lucrative opportunities for the growth of the global market over the forecast period.
The global food flavors market is segregated based on type, form, origin, application, and region. Chocolate & brown, spices & savory, dairy, fruit & nut, vanilla, and others are some of the types of food flavors in the market. The global market is classified based on form as liquid & gel and dry. Food flavor has applications in bakery & confectionery, sauces & dressings, dairy & frozen desserts, beverages, food & nutrition, and others.
Asia Pacific is estimated to be the largest shareholder in the global food flavors market over the forecast period. Growing demand for clean-label, natural, & zero calories products, shift in consumer base, and change in lifestyle & eating habits are the key factors that are propelling the growth of the market in this region. South America is anticipated to be the fastest-growing region owing to growing health-conscious people and an increase in innovative product launches.
International Flavors & Fragrances, Kerry Group, Givaudan, Archer Daniels Midland, DuPont, T. Hasegawa, Taiyo International, MANE, Symrise, and Firmenich are some of the key manufacturers operating in the global food flavor market.
Key Development: In March 2019, Archer Daniels Midland Co. acquired citrus flavor supplier Ziegler Group. The acquisition will position Archer Daniels Midland for growth as the global leader in natural citrus ingredients.