Market Size of Global Natural Food Flavors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.75 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Natural Food Flavors Market Analysis
Global Natural Food Flavors market is projected to register a CAGR of 6.75% during the forecast period, 2020-2025.
- As per the International Food Information Council Foundation, the overall flavor industry runs due to consumer demand for the most nuanced and subtle flavors in food, with taste being a crucial factor influencing a consumer's purchase decision. The organization reveals that the importance of taste has increased since 2018, with about 86% of consumers choosing taste over other food attributes prior to their purchase. Along with the statement mentioned above, the demand for natural food flavors arises with the general consumer consensus to perceive food products as healthy if derived from natural ingredients.
- Moreover, consumers are greatly fascinated to use products with simple and understandable labels, which pushes food companies to opt for natural flavors that instantly gives a sense of relief to consumers, irrespective of its chemical association during production.
- However, high cost of extraction and expensive raw materials discourage food manufacturers, primarily in developing countries, to be as progressive as big firms and brands that are constantly rooting for healthier food products.
Natural Food Flavors Industry Segmentation
The report on the global natural food flavors market (henceforth, referred to as the 'market studied') offers key insights into the latest market developments. It analyzes recent trends, drivers, and challenges affecting the market studied across all the countries analyzed in the study. The global natural food flavors market is segmented by application and geography. By application, the market studied is segmented into bakery, confectionery, dairy and desserts, beverages, savory and snacks, meat and meat products, sauces, soups, and seasonings, and other applications. Furthermore, the report considers the market for meal replacement in established and emerging economies of North America, Europe, Asia-Pacific and rest of the world. The report contains top-line revenues and market share analysis of the key players, highlighting the most adopted strategies of the companies in the market studied
| By Application Type | ||||
| Bakery | ||||
| Confectionery | ||||
| Dairy and Desserts | ||||
| ||||
| Savory and Snacks | ||||
| Meat and Meat Products | ||||
| Sauces, Soups, and Seasonings | ||||
| Other Applications |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Global Natural Food Flavors Market Size Summary
The natural food flavors market is experiencing significant growth, driven by a shift in consumer preferences towards products perceived as healthier due to their natural ingredients. This trend is largely influenced by a growing consumer demand for nuanced and subtle flavors, with taste being a primary factor in purchase decisions. The preference for simple and understandable labels has led food companies to adopt natural flavors, as consumers associate these with safety and health benefits. However, the high cost of extraction and raw materials poses challenges for manufacturers, particularly in developing regions, where smaller firms may struggle to compete with larger brands that are more adept at offering healthier options. The market dynamics are further shaped by consumer behavior, with an increasing number of individuals scrutinizing food labels for natural formulations, thereby encouraging manufacturers to move away from artificial additives.
In the Asia Pacific region, the natural food flavors market is witnessing the highest growth rate, fueled by rising consumer awareness of the negative impacts of synthetic flavors and increased disposable income. The demand for clean label ingredients, such as those with claims of being 100% natural, non-GMO, and organic, is on the rise, particularly in countries like China. This is partly due to the influence of Western cooking styles and a growing import of flavoring products. The COVID-19 pandemic has further accelerated the demand for plant-based and natural products, as consumers prioritize health. Leading companies in the market, such as Givaudan, Firmenich SA, and International Flavors & Fragrances, are focusing on innovation and expanding their production capacities to meet this demand. These companies are also investing in research and development to create new natural flavor formulations, with Givaudan expanding its geographical reach to tap into high-growth markets like Morocco, demonstrating a commitment to expanding their presence in diverse regions.
Global Natural Food Flavors Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porter's Five Forces Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Application Type
-
2.1.1 Bakery
-
2.1.2 Confectionery
-
2.1.3 Dairy and Desserts
-
2.1.4 Beverages
-
2.1.4.1 Alcoholic
-
2.1.4.2 Non-alcoholic
-
-
2.1.5 Savory and Snacks
-
2.1.6 Meat and Meat Products
-
2.1.7 Sauces, Soups, and Seasonings
-
2.1.8 Other Applications
-
-
2.2 Geography
-
2.2.1 North America
-
2.2.1.1 United States
-
2.2.1.2 Canada
-
2.2.1.3 Mexico
-
2.2.1.4 Rest of North America
-
-
2.2.2 Europe
-
2.2.2.1 Germany
-
2.2.2.2 United Kingdom
-
2.2.2.3 France
-
2.2.2.4 Spain
-
2.2.2.5 Italy
-
2.2.2.6 Rest of Europe
-
-
2.2.3 Asia Pacific
-
2.2.3.1 China
-
2.2.3.2 Japan
-
2.2.3.3 India
-
2.2.3.4 Australia
-
2.2.3.5 Rest of Asia-Pacific
-
-
2.2.4 Rest of the World
-
2.2.4.1 South America
-
2.2.4.2 Middle East & Africa
-
-
-
Global Natural Food Flavors Market Size FAQs
What is the current Global Natural Food Flavors Market size?
The Global Natural Food Flavors Market is projected to register a CAGR of 6.75% during the forecast period (2024-2029)
Who are the key players in Global Natural Food Flavors Market?
Givaudan SA, BASF SE, Symrise AG , International Flavors & Fragrances Inc. (IFF Inc.) and Firmenich SA are the major companies operating in the Global Natural Food Flavors Market.
