What is Global Food Flavour Market?
The Global Food Flavour Market is a vast and dynamic sector that plays a crucial role in the food and beverage industry worldwide. It encompasses a wide range of flavours used to enhance the taste and aroma of various food products. The market is driven by the increasing demand for a variety of food flavours from consumers who are constantly seeking new and unique taste experiences. The global food flavour market is not just limited to the food industry but also extends to other sectors such as beverages, confectionery, bakery, dairy, and others. The market is further segmented based on the type of flavours into natural and synthetic. The increasing awareness about health and wellness among consumers has led to a surge in demand for natural food flavours. However, synthetic flavours continue to hold a significant share in the market due to their cost-effectiveness and longer shelf life.
Synthetic Food Flavour, Natural Food Flavour in the Global Food Flavour Market:
The Global Food Flavour Market is divided into two main categories: Synthetic Food Flavour and Natural Food Flavour. Synthetic Food Flavours are chemically produced and are often used to mimic natural flavours. They are cost-effective and have a longer shelf life, making them a popular choice for many food manufacturers. On the other hand, Natural Food Flavours are derived from plants, animals, and microbes. They are perceived as healthier and safer by consumers, leading to their increasing popularity. However, they are more expensive and have a shorter shelf life compared to synthetic flavours. Despite these challenges, the demand for natural food flavours is expected to grow in the coming years due to the increasing health consciousness among consumers.
Snacks, Beverage, Dairy Products, Desserts, Others in the Global Food Flavour Market:
The Global Food Flavour Market finds its application in a variety of areas including Snacks, Beverages, Dairy Products, Desserts, and others. In the Snacks sector, food flavours are used to enhance the taste and aroma of chips, popcorn, and other snack items. In the Beverage sector, they are used in soft drinks, juices, and alcoholic beverages to provide a unique taste. In the Dairy Products sector, food flavours are used in products like ice cream, yogurt, and cheese. In the Desserts sector, they are used in cakes, pastries, and chocolates. Other applications of food flavours include sauces, dressings, and condiments. The use of food flavours in these sectors is expected to grow in the coming years due to the increasing demand for flavoured food products.
Global Food Flavour Market Outlook:
Looking at the market outlook, the Global Food Flavour Market was valued at a significant US$ 19480 million in 2023. The market is expected to witness substantial growth, reaching an estimated value of US$ 30230 million by 2030. This growth represents a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period from 2024 to 2030. The market is primarily divided into natural food flavour and synthetic food flavour. In 2019, natural food flavour dominated the market with an approximate share of 80%, while synthetic food flavour held a share of around 20%. The top five companies in the market accounted for nearly 57% of the total market share in 2019. This data indicates the competitive nature of the market and the dominance of a few key players.
| Report Metric | Details |
| Report Name | Food Flavour Market |
| Accounted market size in 2023 | US$ 19480 million |
| Forecasted market size in 2030 | US$ 30230 million |
| CAGR | 6.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Givaudan, Firmenich, Symrise, IFF, Roberte, Frutarom, Sensien, WILD Flavors, T-Hasegawa, Takasago Inter, Mane, Huabao Flavours & Fragrances, Boton, Zhonghua Chemical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
