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Global Flavour Ingredients Market: By Ingredient Type: Aroma Chemicals, Essential Oils, Plant Extract, Functional Ingredients; By Product Type: Nature-Identical, Artificial, Natural; By Form; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Flavour Ingredients Market Outlook
The global flavour ingredients market is being aided by the growing flavour and fragrance ingredients market, which stood at a value of USD 31.2 billion in 2020. The flavour and fragrance ingredients industry is further expected to grow at a CAGR of 6.0% in the forecast period of 2023-2028.
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Increased Utilisation of Nature-Identical Flavour Ingredients to Bolster the Growth of the Flavour Ingredients Industry
On the basis of product type, nature-identical flavour ingredients account for a significant share in the industry. This can be attributed to their increasing demand for beverages, dairy and frozen desserts, and bakery and confectionary applications, among others. The increasing population and rising demand for processed foods have catalysed the food and beverage industry growth, which, in turn, is driving the demand for flavour ingredients. Meanwhile, the demand for natural flavours is anticipated to witness a robust growth in the forecast period owing to the rising health awareness among consumers and changing lifestyle.
North America to Boost the Growth of the Flavour Ingredients Industry
Region-wise, North America accounts for a significant share in the industry. Within North America, the United States accounts for a major market share owing to the thriving food and beverages industry in the region. The stringent safety regulations issued by the government of the United States are likely to compel manufacturers to use natural ingredients in order to avoid adulteration and prevent the ill effects of artificial ingredients on consumer health. Meanwhile, the Asia Pacific is expected to witness a significant growth in the forecast period, owing to the high population in the region and increasing disposable incomes.
Flavour Ingredients: Market Segmentation
Flavour ingredients are the natural or artificial components that are added to food products or beverages to give them a specific flavour. It is often added to food products in order to enhance flavours that get lost during food processing. This is an added content, which makes the food more tasteful and is relished by people.
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Based on ingredient type, the market is divided into:
- Aroma Chemicals
- Essential Oils
- Plant Extract
- Functional Ingredients
Based on product type, the industry can be segmented into:
- Nature-Identical
- Artificial
- Natural
On the basis of form, the industry can be categorised into:
- Liquid
- Dry
On the basis of application, the industry can be segmented into:
- Beverages
- Dairy and Frozen Desserts
- Savouriers and Snacks
- Bakery and Confectionary Products
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Demand in the Food and Beverages Industry and the Growing Preference for Dairy Products to Augment the Growth of the Flavour Ingredients Industry
The thriving food and beverages industry and the increasing demand for flavouring agents in various applications are the major factors contributing to the flavour ingredients industry growth. The rising demand for dairy products, such as flavoured milk and yoghurt, is further propelling the demand for flavour ingredients, which is significantly contributing to the growth of the industry. Furthermore, in the food and beverages sector, there is a constant need to diversify product portfolio and enhance the taste of existing products, which is likely to aid the market growth in the forecast period. This demand is anticipated to be further propelled by the continuous innovation towards the development of new flavours and the growing demand for natural flavour ingredients.
Key Industry Players in the Global Flavour Ingredients Market
The report gives a detailed analysis of the following key players in the global flavour ingredients market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Givaudan
- Firmenich SA
- International Flavour Ingredients and Fragrances Inc.
- Symrise Group
- Takasago International Corporation
- Mane Group
- Sensient Technologies Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Ingredient Type, Product Type, Form, Application, Region |
| Breakup by Ingredient Type | Aroma Chemicals, Essential Oils, Plant Extract, Functional Ingredients |
| Breakup by Product Type | Nature-Identical, Artificial, Natural |
| Breakup by Form | Liquid, Dry |
| Breakup by Application | Beverages, Dairy and Frozen Desserts, Savouries and Snacks, Bakery and Confectionary Products, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Givaudan, Firmenich SA, International Flavour Ingredients & Fragrances Inc., Symrise Group, Takasago International Corporation, Mane Group, Sensient Technologies Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Flavour Ingredients Market Analysis
8.1 Key Industry Highlights
8.2 Global Flavour Ingredients Historical Market (2018-2022)
8.3 Global Flavour Ingredients Market Forecast (2023-2028)
8.4 Global Flavour Ingredients Market by Ingredient Type
8.4.1 Aroma Chemicals
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.1.3 By Type - Historical (2018-2022) and Forecast (2023-2028)
8.4.1.3.1 Natural
8.4.1.3.2 Synthetic
8.4.1.4 By Product - Historical (2018-2022) and Forecast (2023-2028)
8.4.1.4.1 Benzenoids
8.4.1.4.2 Musk Chemicals
8.4.1.4.3 Terpenoids
8.4.1.4.4 Others
8.4.1.5 By Application (%)
8.4.1.6 By Region (%)
8.4.2 Essential Oils
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.2.3 By Type - Historical (2018-2022) and Forecast (2023-2028)
8.4.2.3.1 Clove Oil
8.4.2.3.2 Orange Oil
8.4.2.3.3 Mentha Oil
8.4.2.3.4 Lemon Oil
8.4.2.3.5 Eucalyptus Oil
8.4.2.3.6 Lavender Oil
8.4.2.3.7 Spearmint oil
8.4.2.3.8 Rosemary Oil
8.4.2.3.9 Others
8.4.2.4 By Application (%)
8.4.2.5 By Region (%)
8.4.3 Plant Extract
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.3.3 By Source - Historical (2018-2022) and Forecast (2023-2028)
8.4.3.3.1 Vegetables
8.4.3.3.2 Fruits
8.4.3.3.3 Herbs and Spices
8.4.3.3.4 Others
8.4.3.4 By Application (%)
8.4.3.5 By Region (%)
8.4.4 Functional Ingredients
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.4.3 By Product - Historical (2018-2022) and Forecast (2023-2028)
8.4.4.3.1 Pectin
8.4.4.3.2 Protein
8.4.4.3.3 Modified Starch
8.4.4.3.4 Maltodextrin
8.4.4.3.5 Probiotics
8.4.4.3.6 Others
8.4.4.4 By Application (%)
8.4.4.5 By Region (%)
8.5 Global Flavour Ingredients Market by Product Type
8.5.1 Nature-Identical
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Artificial
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Natural
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Flavour Ingredients Market by Form
8.6.1 Liquid
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Dry
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Flavour Ingredients Market by Application
8.7.1 Beverages
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Dairy and Frozen Desserts
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Savouries and Snacks
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Bakery and Confectionary Products
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Others
8.8 Global Flavour Ingredients Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Spain
9.2.3.6 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 South Korea
9.3.3.5 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Company Profiles
12.3.1 Givaudan
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.1.3 Demographic Reach and Achievements
12.3.1.4 Certifications
12.3.2 Firmenich SA
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Demographic Reach and Achievements
12.3.2.4 Certifications
12.3.3 International Flavour Ingredients & Fragrances Inc.
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.3.3 Demographic Reach and Achievements
12.3.3.4 Certifications
12.3.4 Symrise Group
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.4.3 Demographic Reach and Achievements
12.3.4.4 Certifications
12.3.5 Takasago International Corporation
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
12.3.5.3 Demographic Reach and Achievements
12.3.5.4 Certifications
12.3.6 Mane Group
12.3.6.1 Company Overview
12.3.6.2 Product Portfolio
12.3.6.3 Demographic Reach and Achievements
12.3.6.4 Certifications
12.3.7 Sensient Technologies Corporation
12.3.7.1 Company Overview
12.3.7.2 Product Portfolio
12.3.7.3 Demographic Reach and Achievements
12.3.7.4 Certifications
12.3.8 Others
13 Industry Events and Developments
Key Questions Answered in the Report
In 2020, the global flavour ingredients market attained a value of nearly USD 31.2 billion.
The market is projected to grow at a CAGR of 6.0% between 2023 and 2028.
The major drivers of the market include the rising demand for dairy products, continuous innovation towards the development of new flavours, growing demand for natural flavour ingredients, increasing population, rising demand for processed foods, and increasing disposable incomes.
The thriving food and beverages industry and the increasing demand for flavouring agents in various applications are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific with North America accounting for the largest share in the market.
Based on ingredient type, the market is divided into aroma chemicals, essential oils, plant extract, and functional ingredients.
Based on product type, the industry can be segmented into nature-identical, artificial, and natural.
The forms of flavour ingredients are liquid and dry.
Flavour ingredients find their major application in beverages, dairy and frozen desserts, savouriers and snacks, and bakery and confectionary products, among others.
The major players in the industry are Givaudan, Firmenich SA, International Flavour Ingredients and Fragrances Inc., Symrise Group, Takasago International Corporation, Mane Group, and Sensient Technologies Corporation, among others.
Analyst Review
The global flavour ingredients market attained a value of nearly USD 31.2 billion in 2020, driven by the thriving food and beverages industry. Aided by rising demand for dairy products and growing demand for natural flavour ingredients, the market is expected to witness further growth in the forecast period of 2023-2028, growing at a CAGR of 6.0%.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on ingredient type, the market is divided into aroma chemicals, essential oils, plant extract, and functional ingredients. Based on product type, the industry can be segmented into nature-identical, artificial, and natural. The forms of flavour ingredients are liquid and dry. Flavour ingredients find their major application in beverages, dairy and frozen desserts, savouriers and snacks, and bakery and confectionary products, among others. The major regional markets for flavour ingredients market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa with North America accounting for the largest share in the market. The major players in the industry are Givaudan, Firmenich SA, International Flavour Ingredients and Fragrances Inc., Symrise Group, Takasago International Corporation, Mane Group, and Sensient Technologies Corporation, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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