Flavor Ingredients Market Overview
Flavor Ingredients Market size is forecast to reach $23,349 million by 2026, growing at a CAGR of 3.2% during the forecast period 2021-2026. Flavor ingredients are compounds that improve the flavor of food, drink, or any other material. Essential oils, oleoresins, aroma compounds, and other substances are used in flavoring. Natural or synthetic flavoring components can be used. Natural flavors are generated from natural sources such as vegetables, plant extracts, marine extracts, dairy, and others. It is frequently added to food products to improve flavors that are lost during manufacturing. This is an additional ingredient that enhances the flavor of the dish and makes it more appealing to consumers. Increasing application of Flavor Ingredients in various food products are the major factors driving the growth of the Flavor Ingredients market. Increasing demand for processed food products coupled with rising disposable income of the people is set to further enhance the overall market development of the Flavor Ingredients Market for the period 2021-2026.
Report Coverage
The report: “Flavor Ingredients Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Flavor Ingredients Market.
By Ingredients: Essential Oil, Oleoresins, Aroma Chemicals, Others.
By Source: Vegetable, Plant Extract, Marine Extract, Dairy, Others
By Form: Liquid, Powder, and Paste
By Application: Beverage, Bakery & Confectionery, Savory Foods, Tobacco, Pet Food, Oral Care, Nutraceuticals, Others
By End-User: Pharmaceuticals, Cosmeceuticals, Food & Beverages, Others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)
Key Takeaways
- Asia-Pacific dominated the Flavor Ingredients Market in 2020 owing to rising disposable income of the people coupled with growing demand for convenience food products. The Flavor Ingredients Market scope for different regions will be provided in the final report.
- Increasing demand for natural food ingredient are likely to aid the market growth of the Flavor Ingredients Market report.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Flavor Ingredients Market report.
- Fluctuation in raw material prices is poised to create the hurdles for the Flavor Ingredients Market.
Flavor Ingredients Market Revenue Share, By Geography, 2020(%)
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Flavor Ingredients Market Segment Analysis – By Ingredients
Essential Oil held the largest share in the Flavor Ingredients Market in 2020 and is estimated to grow at a CAGR 3.2% during the forecast period 2021-2026. Essential oils are distilled plant extracts that retain the natural scent and taste of their source. They are obtained by mechanical pressing or distillation. Each essential oil has a unique chemical structure that determines the aroma, absorption, and effects on the body. Essential oil helps in providing and treating a variety of diseases such as sleep problems, stress disorders, depression, and immune system issues.
Flavor Ingredients Market Segment Analysis – By Source
Plant Extract held the largest sharer in the Flavor Ingredients Market in 2020 and is estimated to grow at a CAGR 4.0% during the forecast period 2021-2026. Flavor components are derived from a variety of plant extracts. Plant extracts are naturally occurring chemicals extracted from plants. Plant extraction is the process of separating liquid or solid from plants using an extraction method. These plant extracts are used in a variety of industries, including the food, pharmaceutical, and cosmetic industries. Plant Extract are estimated to register the higher CAGR over the period 2021-2026.
Flavor Ingredients Market Segment Analysis – By Geography
Asia-Pacific dominated the Flavor Ingredients Market with a major share of 28.9% in 2020 and is estimated to grow at a higher CAGR during the forecast period 2021-2026. This is attributed to growing demand for natural food ingredient in this region. Furthermore, as a result of the hectic lifestyle in this region, people's desire for processed food items is growing, which is increasing demand of the market in this region.
Flavor Ingredients Market Drivers
Increasing Demand for Natural Ingredients
Increasing demand of natural ingredients in food products is increasing the growth of the Flavor Ingredients Market. A considerable number of customers have developed an interest in acquiring clean label items, which provide a wide range of naturally produced components, hence increasing the demand for natural food ingredients. Increasing shifting of consumers towards products with natural flavor. Thus, increasing the growth of the Flavor Ingredients Market during the forecast period 2021-2026.
Increasing Application of Flavor Ingredients
Increasing application of flavor ingredients in various application including food and beverage, bakery & Confectionery, nutraceutical and many others is increasing the growth of the Flavor Ingredients Market. Flavor Ingredients is majorly used in food and beverage products to enhance taste, thus increases demand for food products which leads to rise in demand for processed food products.
Flavor Ingredients Market Challenges
Strict Regulation Policies
Strict regulation policies of government that norms delay the new product launch by manufacturers further limiting the Flavor Ingredients market. Furthermore, fluctuation in raw material prices which are among the challenges for the Flavor Ingredients also set to hinder the growth of the market.
Flavor Ingredients Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Flavor Ingredients Market. In 2020, the Flavor Ingredients Market share is consolidated by the top ten players present in the market. The Flavor Ingredients Market, top 10 companies are Givaudan, MANE SA, Firmenich, International Flavors & Fragrances, Inc. (IFF), Symrise, Huabao International Holdings Limited, Takasago, Sensient Flavors, Robertet SA, and T.Hasegawa.
Relevant Titles:
Report Code: FBR 0095
1. Flavor Ingredients Market - Overview
1.1 Definitions and Scope
2. Flavor Ingredients Market - Executive Summary
2.1 Market Revenue and Key Trends
2.2 Key trends by Ingredient
2.3 Key trends by Source
2.4 Key trends by Form
2.5 Key trends by Application
2.6 Key trends by End User
2.7 Key trends by Geography
3. Flavor Ingredients Market – Comparative Analysis
3.1 Product Benchmarking – Key Companies
3.2 Financial Analysis – Key Companies
3.3 Market Value Split by Key Companies
3.4 Patent Analysis –
3.5 Pricing Analysis
4. Flavor Ingredients Market - Startup Companies Scenario Premium
4.1 Key Startup Company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Venture Capital and Funding Scenario
5. Flavor Ingredients Market – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case Studies of Successful Ventures
6. Flavor Ingredients Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Flavor Ingredients Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Flavor Ingredients Market - By Ingredient (Market Size –$Million/$Billion)
8.1 Essential Oil
8.2 Oleoresins
8.3 Aroma Chemicals
8.4 Others
9. Flavor Ingredients Market - By Source (Market Size –$Million/$Billion)
9.1 Vegetable
9.2 Plant Extract
9.3 Marine Extract
9.4 Dairy
9.5 Others
10. Flavor Ingredients Market - By Form(Market Size –$Million/$Billion)
10.1 Liquid
10.2 Powder
10.3 Paste
11. Flavor Ingredients Market - By Application(Market Size –$Million/$Billion)
11.1 Beverage
11.2 Bakery & Confectionery
11.3 Savory Foods
11.4 Tobacco
11.5 Pet Food
11.6 Oral Care
11.7 Nutraceuticals
11.8 Others
12. Flavor Ingredients Market - By End User(Market Size –$Million/$Billion)
12.1 Pharmaceuticals
12.2 Cosmeceuticals
12.3 Food & Beverages
12.4 Others
13. Flavor Ingredients Market - By Geography(Market Size –$Million/$Billion)
13.1 North America
13.1.1 U.S.
13.1.2 Mexico
13.1.3 Canada
13.2 Europe
13.2.1 U.K.
13.2.2 France
13.2.3 Germany
13.2.4 Italy
13.2.5 Spain
13.2.6 Russia
13.2.7 Rest of Europe
13.3 Asia Pacific
13.3.1 China
13.3.2 India
13.3.3 Japan
13.3.4 South Korea
13.3.5 Australia & New Zealand
13.3.6 Rest of APAC
13.4 South America
13.4.1 Brazil
13.4.2 Argentina
13.4.3 Others
13.5 Rest of the World
13.5.1 Middle East
13.5.2 Africa
14. Flavor Ingredients Market - Entropy
15. Flavor Ingredients Market – Industry/Segment Competition Landscape Premium
15.1 Market Share Analysis
15.1.1 Global Market Share – Key Companies
15.1.2 Market Share by Region – Key companies
15.1.3 Market Share by Countries – Key Companies
15.1.4 Competition Matrix
15.1.5 Best Practices for Companies
16. Flavor Ingredients Market – Key Company List by Country Premium Premium
17. Flavor Ingredients Market Company Analysis
17.1 Company 1
17.2 Company 2
17.3 Company 3
17.4 Company 4
17.5 Company 5
17.6 Company 6
17.7 Company 7
17.8 Company 8
17.9 Company 9
17.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.