Global Flavoring Agents Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3600/- USD | Published Date: May 31, 2021 |

The global flavoring agents market size is expected to witness a significant growth rate of around 5% CAGR during the forecast period 2021 to 2027 and expected to reach around USD 24 billion by 2027. The rising demand for authentic and natural food flavors due to increasing consumption of ready-to-eat, and convenience food around the world is a primary factor to drive the market growth.

The growing consumption of functional beverages among millennials is further expected to drive the market growth over the forecast period. the increasing disposable income per capita and the rising consumer interest in traveling are expected to increase the demand for convenience, organic, and RTE food, which is anticipated to increase the demand for flavoring agents in the next future years. Moreover, the wide use of flavoring agents in various end-use applications such as beverages, bakery, confectionary, and others is projected to fuel the market growth. The increasing interest of manufacturers to launch new products is attributed to uplift the market in next upcoming years.

Market Segment Insights:

The global flavoring agents market is bifurcated into type, application, and geography. On the basis of type, the market is further fragmented into natural and artificial flavors. The artificial flavor segment is accounted to hold the largest revenue share in 2020 owing to the huge demand for artificial flavors by food and beverage companies across the globe. On the other hand, the natural flavor segment is accounted to grow at a significant growth rate due to the increasing consumer preference towards natural products. The increasing consumption of packaged juice and carbonated beverage is expected to increase the demand for natural flavoring agents over the forecast period.

Flavoring Agents Market Size & Growth

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By application, the market is segmented into beverages, bakery, dairy, confectionery, and others. The beverage segment held the largest market share in 2020 by revenue and expected to maintain its dominance over the forecast period. The segment growth is attributed to the increasing consumption of sports drinks, juices, carbonated drinks, alcoholic drinks around the world. The increasing consumption of beverages by the young generation at the workplace, travel, and parties is anticipated to fuel the segment growth over the forecast period.

The flavoring agents comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2020 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The flavoring agents market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2018-19 – Historical Year
  • 2020 – Base Year
  • 2021-2027 – Forecast Period

Global Flavoring Agents Market Segmentation:

By Type:

  • Natural Flavor
  • Artificial Flavor

By Application:

  • Beverages
  • Bakery
  • Dairy
  • Savory & Convenience Foods
  • Confectionery
  • Meat
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Geographic Coverage:

Geographically, Europe dominated the global flavoring agents market in 2020 and accounted to hold the largest market share of over one-fourth of the market in terms of revenue. The rapid growth in modernization and globalization and increasing demand for low-fat and low-carbohydrate foods are accounted to drive the market growth in the region. Furthermore, the presence of some major players such as IFF, Firmenich, Frutarom is expected to fuel the market growth in the region due to their focus to provide more customized flavors. In contrast, the Asia Pacific is expected to grow at a significant growth rate due to the increasing consumption of ready-to-eat snacks, beverages, convenience foods, and bakery products.

Market Competition Assessment:

Some of the major players operating in the global flavoring agents market are International Flavors & Fragrances Inc., Symrise AG, Takasago International Corporation, Mane SA, and Sensient Technologies. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

List of Key Companies:

  • International Flavors & Fragrances Inc.
  • Symrise AG
  • Takasago International Corporation
  • Mane SA
  • Sensient Technologies
  • Robertet S.A.
  • Hasegawa Co., Ltd
  • Givaudan SA
  • Firmenich
  • Haubao

Key Questions Answered by Flavoring Agents Market Report

  • Global flavoring agents market forecasts from 2021-2027
  • Regional flavoring agents market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
  • Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
  • Flavoring agents submarket forecasts from 2021-2027 covering the market by type, by application, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis pertaining to flavoring agents market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level flavoring agents markets from 2021-2027
  • Competitive Landscape and market positioning of top 10 players operating in the flavoring agents market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Flavoring Agents Market Portraiture
2.2. Global Flavoring Agents Market, by Type, 2020 (USD Mn)
2.3. Global Flavoring Agents Market, by Application, 2020 (USD Mn)
2.4. Global Flavoring Agents Market, by Geography, 2020 (USD Mn)

 

3. Global Flavoring Agents Market Analysis


3.1. Flavoring Agents Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. COVID-19 Impact Analysis
3.6.1. V Shaped Recovery
3.6.2. U Shaped Recovery
3.6.3. L Shaped Recovery
3.6.4. W Shaped Recovery

 

4. Global Flavoring Agents Market By Type, 2018 – 2027 (USD Mn)


4.1. Overview
4.2. Natural Flavor
4.3. Artificial Flavor

 

5. Global Flavoring Agents Market By Application, 2018 – 2027 (USD Mn)


5.1. Overview
5.2. Beverages
5.3. Bakery
5.4. Dairy
5.5. Savory & Convenience Foods
5.6. Confectionery
5.7. Meat
5.8. Others

 

6. North America Flavoring Agents Market Analysis and Forecast, 2018 – 2027 (USD Mn)


6.1.1. Overview
6.1.2. North America Flavoring Agents Market by Type (2018-2027 USD Mn)
6.1.3. North America Flavoring Agents Market by Application (2018-2027 USD Mn)
6.1.4. North America Flavoring Agents Market by Country (2018-2027 USD Mn)
6.1.4.1. U.S.
6.1.4.1.1. U.S. Flavoring Agents Market by Type (2018-2027 USD Mn)
6.1.4.1.2. U.S. Flavoring Agents Market by Application (2018-2027 USD Mn)
6.1.4.2. Canada
6.1.4.2.1. Canada Flavoring Agents Market by Type (2018-2027 USD Mn)
6.1.4.2.2. Canada Flavoring Agents Market by Application (2018-2027 USD Mn)

 

7. Europe Flavoring Agents Market Analysis and Forecast, 2018 – 2027 (USD Mn)


7.1.1. Overview
7.1.2. Europe Flavoring Agents Market by Type (2018-2027 USD Mn)
7.1.3. Europe Flavoring Agents Market by Application (2018-2027 USD Mn)
7.1.4. Europe Flavoring Agents Market by Country (2018-2027 USD Mn)
7.1.4.1. Germany
7.1.4.1.1. Germany Flavoring Agents Market by Type (2018-2027 USD Mn)
7.1.4.1.2. Germany Flavoring Agents Market by Application (2018-2027 USD Mn)
7.1.4.2. U.K.
7.1.4.2.1. U.K. Flavoring Agents Market by Type (2018-2027 USD Mn)
7.1.4.2.2. U.K. Flavoring Agents Market by Application (2018-2027 USD Mn)
7.1.4.3. France
7.1.4.3.1. France Flavoring Agents Market by Type (2018-2027 USD Mn)
7.1.4.3.2. France Flavoring Agents Market by Application (2018-2027 USD Mn)
7.1.4.4. Italy
7.1.4.4.1. Italy Flavoring Agents Market by Type (2018-2027 USD Mn)
7.1.4.4.2. Italy Flavoring Agents Market by Application (2018-2027 USD Mn)
7.1.4.5. Rest of Europe
7.1.4.5.1. Rest of Europe Flavoring Agents Market by Type (2018-2027 USD Mn)
7.1.4.5.2. Rest of Europe Flavoring Agents Market by Application (2018-2027 USD Mn)

 

8. Asia Pacific Flavoring Agents Market Analysis and Forecast, 2018 – 2027 (USD Mn)


8.1.1. Overview
8.1.2. Asia Pacific Flavoring Agents Market by Type (2018-2027 USD Mn)
8.1.3. Asia Pacific Flavoring Agents Market by Application (2018-2027 USD Mn)
8.1.4. Asia Pacific Flavoring Agents Market by Country (2018-2027 USD Mn)
8.1.4.1. China
8.1.4.1.1. China Flavoring Agents Market by Type (2018-2027 USD Mn)
8.1.4.1.2. China Flavoring Agents Market by Application (2018-2027 USD Mn)
8.1.4.2. Japan
8.1.4.2.1. Japan Flavoring Agents Market by Type (2018-2027 USD Mn)
8.1.4.2.2. Japan Flavoring Agents Market by Application (2018-2027 USD Mn)
8.1.4.3. Rest of Asia Pacific
8.1.4.3.1. Rest of Asia Pacific Flavoring Agents Market by Type (2018-2027 USD Mn)
8.1.4.3.2. Rest of Asia Pacific Flavoring Agents Market by Application (2018-2027 USD Mn)

 

9. Latin America (LATAM) Flavoring Agents Market Analysis and Forecast, 2018 – 2027 (USD Mn)


9.1.1. Overview
9.1.2. Latin America Flavoring Agents Market by Type (2018-2027 USD Mn)
9.1.3. Latin America Flavoring Agents Market by Application (2018-2027 USD Mn)
9.1.4. Latin America Flavoring Agents Market by Country (2018-2027 USD Mn)
9.1.4.1. Brazil
9.1.4.1.1. Brazil Flavoring Agents Market by Type (2018-2027 USD Mn)
9.1.4.1.2. Brazil Flavoring Agents Market by Application (2018-2027 USD Mn)
9.1.4.2. Mexico
9.1.4.2.1. Mexico Flavoring Agents Market by Type (2018-2027 USD Mn)
9.1.4.2.2. Mexico Flavoring Agents Market by Application (2018-2027 USD Mn)
9.1.4.3. Rest of Latin America
9.1.4.3.1. Rest of Latin America Flavoring Agents Market by Type (2018-2027 USD Mn)
9.1.4.3.2. Rest of Latin America Flavoring Agents Market by Application (2018-2027 USD Mn)

 

10. Middle East and Africa Flavoring Agents Market Analysis and Forecast, 2018 – 2027 (USD Mn)


10.1.1. Overview
10.1.2. MEA Flavoring Agents Market by Type (2018-2027 USD Mn)
10.1.3. MEA Flavoring Agents Market by Application (2018-2027 USD Mn)
10.1.4. Middle East and Africa Flavoring Agents Market, by Country (2018-2027 USD Mn)
10.1.4.1. GCC
10.1.4.1.1. GCC Flavoring Agents Market by Type (2018-2027 USD Mn)
10.1.4.1.2. GCC Flavoring Agents Market by Application (2018-2027 USD Mn)
10.1.4.2. Rest of MEA
10.1.4.2.1. Rest of MEA Flavoring Agents Market by Type (2018-2027 USD Mn)
10.1.4.2.2. Rest of MEA Flavoring Agents Market by Application (2018-2027 USD Mn)

 

11. Company Profiles


11.1. International Flavors & Fragrances Inc.
11.1.1. Business Description
11.1.2. Financial Health and Budget Allocation
11.1.3. Product Positions/Portfolio
11.1.4. Recent Development
11.1.5. SWOT Analysis
11.2. Symrise AG
11.2.1. Business Description
11.2.2. Financial Health and Budget Allocation
11.2.3. Product Positions/Portfolio
11.2.4. Recent Development
11.2.5. SWOT Analysis
11.3. Takasago International Corporation
11.3.1. Business Description
11.3.2. Financial Health and Budget Allocation
11.3.3. Product Positions/Portfolio
11.3.4. Recent Development
11.3.5. SWOT Analysis
11.4. Mane SA
11.4.1. Business Description
11.4.2. Financial Health and Budget Allocation
11.4.3. Product Positions/Portfolio
11.4.4. Recent Development
11.4.5. SWOT Analysis
11.5. Sensient Technologies
11.5.1. Business Description
11.5.2. Financial Health and Budget Allocation
11.5.3. Product Positions/Portfolio
11.5.4. Recent Development
11.5.5. SWOT Analysis
11.6. Robertet S.A.
11.6.1. Business Description
11.6.2. Financial Health and Budget Allocation
11.6.3. Product Positions/Portfolio
11.6.4. Recent Development
11.6.5. SWOT Analysis
11.7. T. Hasegawa Co., Ltd.
11.7.1. Business Description
11.7.2. Financial Health and Budget Allocation
11.7.3. Product Positions/Portfolio
11.7.4. Recent Development
11.7.5. SWOT Analysis
11.8. Givaudan SA
11.8.1. Business Description
11.8.2. Financial Health and Budget Allocation
11.8.3. Product Positions/Portfolio
11.8.4. Recent Development
11.8.5. SWOT Analysis
11.9. Firmenich
11.9.1. Business Description
11.9.2. Financial Health and Budget Allocation
11.9.3. Product Positions/Portfolio
11.9.4. Recent Development
11.9.5. SWOT Analysis
11.10. Haubao
11.10.1. Business Description
11.10.2. Financial Health and Budget Allocation
11.10.3. Product Positions/Portfolio
11.10.4. Recent Development
11.10.5. SWOT Analysis
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