Food Flavors Market Scope
The food flavor is the extract and essences that are added to foods to enhance their taste and aroma. There are natural food flavors that are derived from herbs, spices, and substances having an exclusively sour or salty taste, and sweet and there are some processed and added flavors. Food flavors are also used to create a flavor for food products that do not have desired flavors such as candies and other snacks this has led to significant growth of the market in the forecast period. Flavors are focused on changing or enhancing the flavors of natural food products such as meats and vegetables, or creating flavor for food products that do not have the desired flavors such as candies and other snacks. Most types of flavor are focused on scent and taste. The aroma and all the sensory characteristics of food represent only a fraction of the phenomena recognized by the individual when the food is consumed.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Vendors having a strong hold in the market are Koninklijke DSM NV, Kerry Group plc, BASF SE, and Archer Daniels Midland (ADM). Research Analyst at AMA estimates that European and United States Vendors will contribute to the maximum growth of Global Food Flavors market throughout the predicted period.
Koninklijke DSM NV (Netherlands), Kerry Group plc (Ireland), BASF SE (Germany), Archer Daniels Midland (ADM) (United States), Symrise AG (Germany), Frutarom Industries Ltd. (Israel), Givaudan SA (Switzerland), International Flavors& Fragrances Inc. (United States), Kerry Group PLC (Ireland) and Sensient Technologies (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Firmenich SA (Switzerland) and Corbion NV (Netherlands).
Segmentation Overview
The study have segmented the market of Global Food Flavors market by Type (Natural Flavor, Synthetic Flavor and Nature Identical Flavoring), by Application (Dairy, Bakery, Confectionery, Snack, Beverage and Other) and Region with country level break-up.
On the basis of geography, the market of Food Flavors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Rising Demand for Natural Ingredients Form the Food and Beverage Industry
Market Growth Drivers:
Rising Demand for Organic Products in Developed and Developing Nations, Increasing Demand From the Food and Beverage Industry and Growing Demand in Various Food Applications, and the Growing Popularity of Exotic Flavors
Restraints:
High-Cost Involved in the Production of Natural Flavors
Opportunities:
Increasing Demand for Processed Foods and Beverages and Rising Disposable Income Creates the Opportunities for Market
Market Leaders and their Expansionary Development Strategies
On 31st Mar 2021 - Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announced that it has reached an agreement to acquire the flavor and fragrance (F&F) bio-based intermediates business of Amyris, Inc. and On 15th Feb 2021 - Kerry Group plc has announced its intention to acquire the Spanish company Biosearch Life.
On 07, February 2019, Givaudan has announced that the company has officially inaugurated a new Flavours manufacturing facility in Pune, India. The CHF 60 million plants are the Company's largest investment in India and further proof of its commitment to leverage growth potential in the Asia Pacific.
As per the Food Safety and Standards (Food Product Standards and Food Additives) Regulations, 2011, the flavors that are added to food items should comply with Good Manufacturing Practices (GMP). Accordingly, the following must be ensured:, The added flavor must be the least amount possible to achieve efficacy., Added flavor should become a part of the food during manufacture, processing or packaging. and Added flavor should be treated in the same way as the food ingredient.
Key Target Audience
Food Flavors Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.