The global food flavor market is forecas to grow at a CAGR of 5.8% over the forecast period of 2017-2022. Flavour and flavour ingredients, when added in minimal quantities, enhance and alter the taste of the food product. Flavor represents a significant share in the highly innovative, specialized, and competitive food additive market.
The increased demand for natural ingredients in a food product is the primary factor driving the market. Globally, consumers are becoming more concerned about the long-term health effects of artificial ingredients and additives in food products. Other major drivers in the markets are – increasing demand for processed foods & beverages with growing disposable incomes, rising demand in various food applications, and growing popularity of exotic flavors. However, the high costs involved in the production of natural flavours is the major restraining factor for the market.
Additionally, natural flavours are less stable, thereby decreasing the shelf life of products. The nature identical flavorings segment is a great opportunity for flavour manufacturers, as it is less expensive than natural flavors. Moreover, the emerging economies are anticipated to have a great potential for the market. With the rise in the number of food chain restaurants, the sale of flavors has increased in the food service sector. The industrial food processing sector accounts for 57% of the total flavor sales, while 30% of the contribution is from the food service sector. Retail sale accounts for only 13% of the total flavor market.
• Givaudan
• Firmenich
• Iff
• Symrise
• Adm (Wild Flavors)
• Takasago
• Mane
• Frutarom
• Sensient Technologies Corp.
• Robertet
• T. Hasegawa
• Kerry Ingredients & Flavors
• Basf
• Dohler Group
1. Introduction
2. Research Approach and Methodology
3. Market Overview
4. Market Dynamics
5. Market Segmentation
6. Competitive Landscape
7. Company Profiles
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