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PUBLISHER: IMARC | PRODUCT CODE: 1287635

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PUBLISHER: IMARC | PRODUCT CODE: 1287635

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

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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?

Product Code: SR1623A393_Report

Table of Contents

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
Product Code: SR1623A393_Report

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

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
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