Global Liquid Flavour Market Size, Share, Opportunities, And Trend By Product (Fresh Extracts, Organic Flavor Concentrates, Artificial Flavor Liquids), By Application (Bakery & Confectionery, Beverages, Processed Foods, Dairy & Frozen Foods, Others), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061611207
  • Pages : 114

The global liquid flavors market is anticipated to reach a market size worth US$15.263 billion by 2029 from US$11.554 billion in 2022. The market is projected to grow at a CAGR of 4.06%.

Liquid flavors are utilized to enrich the aroma and taste of a variety of products at affordable prices. The increasing popularity of packaged items like chips, dips, pretzels, and similar goods is expected to propel the global demand for liquid flavours. Furthermore, liquid flavours are employed in both alcoholic and non-alcoholic carbonated beverages to enhance their flavour and scent. The rising trend of e-cigarettes is also expected to contribute to the consumption of artificial liquid flavours, as they are commonly utilized as e-liquid flavours. Additionally, the growing awareness regarding the adverse effects of chemical additives in processed foods is anticipated to boost the demand for natural and organic liquid extracts in the foreseeable future.

Market Drivers

  • Increasing preference towards convenient and processed food and beverages boosts the market

The market for liquid flavours is experiencing a surge in demand due to shifting consumer lifestyles and the increasing preference for convenience and processed food and beverage options. This trend is driven by the need for quicker meal preparation times and the desire for hassle-free consumption experiences. As customers seek out convenient options that fit into their busy schedules, the demand for liquid flavours continues to rise. This growing market is propelled by consumers' inclination towards ready-to-eat and ready-to-drink products, which offer ease of use and time-saving benefits. Consequently, manufacturers are responding to this demand by incorporating liquid flavours into a wide range of food and beverage products to enhance their taste, aroma, and overall appeal. This trend is expected to persist as consumers prioritize convenience and seek out convenient meal solutions in their increasingly fast-paced lives.

  • New and creative flavors drive the market even further

The market for liquid flavours is experiencing growth propelled by the development of innovative and novel flavour profiles. This advancement in flavour creation is driving increased demand for liquid flavours as consumers seek out unique taste experiences in their food and beverage products. Manufacturers are continually exploring new ingredients and formulations to create exciting flavour combinations that capture consumers' attention and satisfy their evolving preferences. The introduction of creative flavours not only adds variety to products but also enhances their appeal, driving consumer interest and contributing to market expansion. Additionally, the pursuit of new and imaginative flavours reflects the industry's commitment to innovation and consumer-centric product development. As a result, the market for liquid flavours is poised for continued growth as manufacturers continue to push the boundaries of flavour innovation to meet the changing demands of consumers worldwide.

North America is anticipated to hold a significant share of the market-

The expansion of the food processing industry in the United States has propelled the liquid flavor system market to hold the largest share in terms of value, with rapid anticipated growth in the forecast period. The growth is further fueled by the increasing demand for a variety of cuisines, driven by the diverse population in North America. Liquid flavours find application as fillings and toppings in food and beverages, and the rising demand for these components has prompted manufacturers to invest in the development of visually appealing assortments. North America stands out as the leading consumer region for these premium goods globally.

Market Developments

  • In September 2023, Coca-Cola® launched a new futuristic flavour called Coca-Cola® Y3000 Zero Sugar, envisioning the year 3000. This innovative product was developed through a collaborative effort between human creativity and artificial intelligence, incorporating insights into fans' visions of the future, including emotions, aspirations, colors, and flavours. By combining perspectives from global fans with data-driven insights from AI, Coca-Cola® was inspired to create the distinctive taste of Y3000.
  • In October 2023, Symrise introduced SET Flavors™, utilizing advanced enrichment technologies to offer high-quality and genuine taste solutions. These flavours aid in the development of distinctive taste, nutritional, and health solutions. Leveraging innovative separation techniques, SET Flavors™ extract and enhance key attributes from essential food components or valuable by-products. The Selective Enrichment Technologies associated with the SET Flavors™ brand integrate efficient methods and cutting-edge technologies, allowing Symrise and its collaborators to capture the intricacies of nature and craft unique and authentic flavour profiles.

Market Segmentation

  • By Product
    • Fresh Extracts
    • Organic flavor concentrates
    • Artificial flavor liquids
  • By Application
    • Bakery & Confectionery
    • Beverages
    • Processed Foods
    • Dairy & frozen foods
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      •  Japan
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Others

Frequently Asked Questions (FAQs)

Liquid Flavour Market was valued at US$11.554 billion in 2022.
The liquid flavours market is anticipated to reach a market size of US$15.263 billion by 2029.
The global liquid flavours market is anticipated to grow at a CAGR of 4.06% during the forecast period.
North America is anticipated to hold a significant share of the liquid flavour market.
Increasing preference towards convenient and processed food and beverages boosts the liquid flavour market.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Russia-Ukraine War Impact Analysis

5. LIQUID FLAVORS MARKET, BY PRODUCT

5.1. Introduction

5.2. Fresh Extracts

5.2.1. Market Opportunities and Trends

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Organic flavor Concentrates

5.3.1. Market Opportunities and Trends

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Artificial flavor liquids

5.4.1. Market Opportunities and Trends

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

6. LIQUID FLAVORS MARKET, BY APPLICATION

6.1. Introduction

6.2. Bakery and Confectionary

6.2.1. Market Opportunities and Trends

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Beverages

6.3.1. Market Opportunities and Trends

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Processed Foods

6.4.1. Market Opportunities and Trends

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

6.5. Dairy and Frozen foods

6.5.1. Market Opportunities and Trends

6.5.2. Growth Prospects

6.5.3. Geographic Lucrativeness

6.6. Others

6.6.1. Market Opportunities and Trends

6.6.2. Growth Prospects

6.6.3. Geographic Lucrativeness

7. LIQUID FLAVORS MARKET, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Product 

7.2.2. By Application 

7.2.3. By Country

7.2.3.1. United States

7.2.3.1.1. Market Opportunities and Trends

7.2.3.1.2. Growth Prospects

7.2.3.2. Canada

7.2.3.2.1. Market Opportunities and Trends

7.2.3.2.2. Growth Prospects

7.2.3.3. Mexico

7.2.3.3.1. Market Opportunities and Trends

7.2.3.3.2. Growth Prospects

7.3. South America

7.3.1. By Product 

7.3.2. By Application 

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.1.1. Market Opportunities and Trends

7.3.3.1.2. Growth Prospects

7.3.3.2. Argentina

7.3.3.2.1. Market Opportunities and Trends

7.3.3.2.2. Growth Prospects

7.3.3.3. Others

7.3.3.3.1. Market Opportunities and Trends

7.3.3.3.2. Growth Prospects

7.4. Europe

7.4.1. By Product 

7.4.2. By Application 

7.4.3. By Country

7.4.3.1. United Kingdom

7.4.3.1.1. Market Opportunities and Trends

7.4.3.1.2. Growth Prospects

7.4.3.2. Germany

7.4.3.2.1. Market Opportunities and Trends

7.4.3.2.2. Growth Prospects

7.4.3.3. France

7.4.3.3.1. Market Opportunities and Trends

7.4.3.3.2. Growth Prospects

7.4.3.4. Italy

7.4.3.4.1. Market Opportunities and Trends

7.4.3.4.2. Growth Prospects

7.4.3.5. Others

7.4.3.5.1. Market Opportunities and Trends

7.4.3.5.2. Growth Prospects

7.5. Middle East and Africa

7.5.1. By Product 

7.5.2. By Application 

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.1.1. Market Opportunities and Trends

7.5.3.1.2. Growth Prospects

7.5.3.2. Israel

7.5.3.2.1. Market Opportunities and Trends

7.5.3.2.2. Growth Prospects

7.5.3.3. Others

7.5.3.3.1. Market Opportunities and Trends

7.5.3.3.2. Growth Prospects

7.6. Asia Pacific

7.6.1. By Product 

7.6.2. By Application 

7.6.3. By Country

7.6.3.1. China

7.6.3.1.1. Market Opportunities and Trends

7.6.3.1.2. Growth Prospects

7.6.3.2. Japan

7.6.3.2.1. Market Opportunities and Trends

7.6.3.2.2. Growth Prospects

7.6.3.3. India

7.6.3.3.1. Market Opportunities and Trends

7.6.3.3.2. Growth Prospects

7.6.3.4. South Korea

7.6.3.4.1. Market Opportunities and Trends

7.6.3.4.2. Growth Prospects

7.6.3.5. Indonesia

7.6.3.5.1. Market Opportunities and Trends

7.6.3.5.2. Growth Prospects

7.6.3.6. Thailand

7.6.3.6.1. Market Opportunities and Trends

7.6.3.6.2. Growth Prospects

7.6.3.7. Taiwan

7.6.3.7.1. Market Opportunities and Trends

7.6.3.7.2. Growth Prospects

7.6.3.8. Others

7.6.3.8.1. Market Opportunities and Trends

7.6.3.8.2. Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. BioSun Flavors and Food Ingredients

9.2. Firmenich S.A.

9.3. Gold Coast Ingredients Incorporated

9.4. Takasago International Corporation

9.5. McCormick & Company

9.6. Natures Flavors Incorporated

9.7. Kerry Group

9.8. Sensient Technologies

9.9. Symrise AG

9.10. International Flavors and Fragrances Incorporated


BioSun Flavors and Food Ingredients

Firmenich S.A.

Gold Coast Ingredients Incorporated

Takasago International Corporation

McCormick & Company

Natures Flavors Incorporated

Kerry Group

Sensient Technologies

Symrise AG

International Flavors and Fragrances Incorporated