Natural Food Flavors Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Source (Animal, Plant), By Application (Dairy, Beverages, Bakery And Confectionery, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Jun 2022
- Report Code : KSI061613966
- Pages : 140
The Natural Food Flavours Market is evaluated at US$6.047 billion for the year 2020, growing at a CAGR of 5.63%, reaching the market size of US$8.872 billion by the year 2027.
Natural food flavours are flavouring ingredients extracted from natural sources such as plants and animals. These flavouring agents are used in various foods to enhance and balance the taste. The market for natural food flavours is anticipated to witness healthy growth during the next five years, which may be attributed to the demand for clean labelled products increasing in both developed and developing economies owing to the growing awareness among consumers regarding the consumption of organic products. There has been an inclination of consumers toward consuming naturally sourced food products. Food manufacturing companies are increasingly using naturally sourced flavours, which is one of the prime factors propelling the market growth during the next five years. This, combined with the changing lifestyle of the people, particularly across the developing economies due to rapid industrialization and urbanization, has further created a significant demand for processed food, thus playing a significant role in shaping the market growth over the next five years. However, the market is projected to be restrained by the presence of substitutes such as artificial and natural-identical food flavouring substances that will harm the market growth during the forecast period.
Covid-19 Impact on Natural Food Flavors Market
The outbreak of the novel coronavirus disease will have a moderate negative impact on the market growth that too during a short period of six to eight months. The key factors, such as a halt in manufacturing activities across the food and beverage industry and a slump in the bakery and confectionery sector globally, are projected to inhibit growth in the short run.
However, the COVID-19 disease outbreak has had an impact on consumer behaviour and is helping to stretch the scope of organic and natural food flavour brands. Consumers are becoming more concerned with their personal health and are attempting to intake natural and organic items, which is driving the natural food flavors market demand during the forecast period. Furthermore, because people's physical movement was constrained outside during the disease outbreak, consumers began or increased their in-house cooking during the pandemic. Another factor that has fueled market growth is the increase in household cooking during the Covid-19.
Growing demand for clean, labelled products
One of the prime factors that are playing a significant role in bolstering the demand for natural food flavours is the constantly growing demand for clean, labelled, and natural food products, particularly in the emerging economies owing to the increasing purchasing power of the people and the growing awareness regarding the intake of healthy and nutritious food. Thus, manufacturers across the food and beverages sectors are continuously working to enhance their product portfolios with naturally sourced products as the demand is high. Since there has been a growing health-savvy population globally, the demand for organic food has been positively impacted, which in turn is also propelling the natural food flavours market growth during the next five years.
Rising demand for convenience products
The additional factor supporting the demand for natural food flavours is the globally growing demand for convenience food and beverage products. In emerging economies such as India, China, and Vietnam, rapid urbanization and industrialization further enhanced the purchasing power of the people living across these economies. Thus, the improvements in living standards have further propelled the demand for processed and ready-made foods due to the changing hectic lifestyle of the people.
Bakery and Confectionery to witness a healthy growth
The natural food flavours market has been segmented into dairy, beverages, bakery, Confectionery, etc. The bakery and confectionery segment is anticipated to grow significantly during the next five years due to the increasing usage of natural flavours in bakery products. Additionally, the growing bakery and confectionery sector globally will further support the growth of this segment during the next five years. The beverages segment is expected to hold a good market share over the next five years owing to the wide applications of natural flavours across the beverage industry. Moreover, the growth of this segment is attributed to the increased focus of the consumers on natural beverages coupled with the increased focus of the manufacturing companies to launch products with reduced fat, sugar, and salt content. In addition, the growing concerns regarding the maintenance and reduction of weight and the management of diabetes are considered the prime factors are driving the demand for low-calorie food and beverages.
APAC to witness the fastest growth
Geographically, the global market distribution has been done in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific region is anticipated to witness healthy growth during the next five years, which may be attributed to the increased purchasing power of the people in countries like India and China, among others. Moreover, the increased demand for convenience food further drives the market growth in the APAC region throughout the forecast period. Hence, the European region is expected to hold a significant share in the global market during the next five years because of a high number of health-savvy people.
June 2019-Associated British Foods plc and Yihai Kerry Arawana Holdings Co., Ltd, a division of Wilmar International Limited, had agreed to form a 50:50 joint venture in China for the sale, manufacture, and distribution of yeast and bakery substances. The joint venture will obtain AB Mauri's established Chinese yeast and bakery ingredients operations, as well as Yihai Kerry Arawana's extensive sales, supply chain, and distribution system, and local market knowledge in China. The joint venture had also constructed and operated a new yeast plant in the Taha industrial zone in Qiqihar City, China, alongside Wilmar's processing facility, dramatically increasing potential.
May 2022- Symrise expands its wellbeing expertise with the introduction of a new line of Aronia health activities. The collection includes an Aronia extract and an Aronia juice powder that are both high in polyphenols and anthocyanins. This product line adds to the Diana food portfolio of healthy active ingredients, which is part of the Nutrition, Taste, and Health component. Aronia, also known as black chokeberry, contains a high amount of polyphenols, particularly anthocyanins, which are powerful antioxidants.
The natural food flavours market players are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players have been covered along with their relative competitive strategies. The report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered, and these important players' recent deals and investments in the natural food flavours market.
Natural Food Flavors Market Scope:
|Market size value in 2020||US$6.047 billion|
|Market size value in 2027||US$8.872 billion|
|Growth Rate||CAGR of 5.63% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Source, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Givaudan S.A., Associated British Foods plc, ADM, Firmenich SA, DSM, Kerry Inc., Symrise, Sensient Technologies Corporation, International Flavors & Fragrances Inc., Takasago International Corporation, Apple Flavor & Fragrance Group Co., Ltd., Robertet Group, T.Hasegawa Inc., MANE|
|Customization scope||Free report customization with purchase|
- By Source
- By Application
- Bakery and Confectionery
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the natural food flavors market size by 2027?
A1. The natural food flavors market is projected to reach a total market size of US$8.872 billion by 2027.
Q2. What is the size of the global natural food flavors market?
A2. Natural Food Flavors Market is evaluated at US$6.047 billion for the year 2020.
Q3. What are the growth prospects for the natural food flavors market?
A3. The global natural food flavors market is projected to grow at a CAGR of 5.63% over the forecast period.
Q4. What factors are anticipated to drive the natural food flavors market growth?
A4. There has been an inclination of consumers towards the consumption of naturally sourced food products due to which food manufacturing companies are increasingly using naturally sourced flavours which is one of the prime factors propelling the natural food flavors market growth.
Q5. Which region holds the largest market share in the natural food flavors market?
A5. The Asia Pacific region is anticipated to witness healthy growth in the natural food flavors market which may be attributed to the increased purchasing power of the people in countries like India and China among others.
1.1. Market Overview
1.2. COVID-19 Impact
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
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
5. Natural Food Flavors Market Analysis, by Source
6. Natural Food Flavors Market Analysis, by Application
6.4. Bakery and Confectionery
7. Natural Food Flavors Market Analysis, by Geography
7.2. North America
7.2.1. North America Natural Food Flavors Market, By Source, 2020 to 2027
7.2.2. North America Natural Food Flavors Market, By Application, 2020 to 2027
7.2.3. By Country
7.3. South America
7.3.1. South America Natural Food Flavors Market, By Source, 2020 to 2027
7.3.2. North America Natural Food Flavors Market, By Application, 2020 to 2027
7.3.3. By Country
7.4.1. Europe Natural Food Flavors Market, By Source, 2020 to 2027
7.4.2. Europe Natural Food Flavors Market, By Application, 2020 to 2027
7.4.3. By Country
7.5. Middle East and Africa
7.5.1. Middle East and Africa Natural Food Flavors Market, By Source, 2020 to 2027
7.5.2. Middle East and Africa Natural Food Flavors Market, By Application, 2020 to 2027
7.5.3. By Country
220.127.116.11. Saudi Arabia
7.6. Asia Pacific
7.6.1. Asia Pacific Natural Food Flavors Market, By Source, 2020 to 2027
7.6.2. Asia Pacific Natural Food Flavors Market, By Application, 2020 to 2027
7.6.3. By Country
18.104.22.168. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Givaudan S.A.
9.2. Associated British Foods plc
9.4. Firmenich SA
9.6. Kerry Inc.
9.8. Sensient Technologies Corporation
9.9. International Flavors & Fragrances Inc.
9.10. Takasago International Corporation
9.11. Apple Flavor & Fragrance Group Co., Ltd.
9.12. Robertet Group
9.13. T.Hasegawa Inc.
Associated British Foods plc
Sensient Technologies Corporation
International Flavors & Fragrances Inc.
Takasago International Corporation
Apple Flavor & Fragrance Group Co., Ltd.
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