Food Flavor Market Report: Trends, Forecast and Competitive Analysis to 2030

Food Flavor Trends and Forecast

The future of the global food flavor market looks promising with opportunities in the beverage, dairy and frozen product, bakery and confectionery, savory and snack, and animal and pet food markets. The global food flavor market is expected to reach an estimated $20.19 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are rise in demand for plant-based foods and change in consumer preference towards natural and sustainable flavors.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Food Flavor by Segment

The study includes a forecast for the global food flavor by type, form, end use, and region.

Food Flavor Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Natural
• Artificial

Food Flavor Market by Form [Shipment Analysis by Value from 2018 to 2030]:

• Dry
• Liquid

Food Flavor Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Beverages
• Dairy and Frozen Products
• Bakery and Confectionery
• Savory and Snacks
• Animal and Pet Food

Food Flavor Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Food Flavor Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies food flavor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the food flavor companies profiled in this report include-

• Archer-Daniels-Midland Company
• BASF
• Corbion
• Firmenich
• Givaudan
• International Flavors & Fragrances
• Kerry

Food Flavor Market Insights

Lucintel forecasts that artificial will remain larger segment over the forecast period due to increasing consumer preference for clean-label and healthier products.

Within this market, beverage will remain the largest segment due to changing customer preference towards different flavors.

APAC will remain the largest region over the forecast period due to rapid population growth, urbanization, and evolving dietary preferences.

Features of the Global Food Flavor Market

Market Size Estimates: Food flavor market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Food flavor market size by type, form, end use, and region in terms of value ($B).

Regional Analysis: Food flavor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, forms, end uses, and regions for the food flavor market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the food flavor market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the food flavor market size?

Answer: The global food flavor market is expected to reach an estimated $20.19 billion by 2030.

Q2. What is the growth forecast for food flavor market?

Answer: The global food flavor market is expected to grow with a CAGR of 3.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the food flavor market?

Answer: The major drivers for this market are rise in demand for plant-based foods and change in consumer preference towards natural and sustainable flavors.

Q4. What are the major segments for food flavor market?

Answer: The future of the food flavor market looks promising with opportunities in the beverage, dairy and frozen product, bakery and confectionery, savory and snack, and animal and pet food markets.

Q5. Who are the key food flavor market companies?

Answer: Some of the key food flavor companies are as follows:

• Archer-Daniels-Midland Company
• BASF
• Corbion
• Firmenich
• Givaudan
• International Flavors & Fragrances
• Kerry

Q6. Which food flavor market segment will be the largest in future?

Answer: Lucintel forecasts that artificial will remain larger segment over the forecast period due to increasing consumer preference for clean-label and healthier products.

Q7. In food flavor market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rapid population growth, urbanization, and evolving dietary preferences.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the food flavor market by type (natural and artificial), form (dry and liquid), end use (beverages, dairy and frozen products, bakery and confectionery, savory and snacks, and animal and pet food), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?