In 2021, the global flavors market was strong and is predicted to maintain a high revenue CAGR throughout the forecast period. Flavorings are substances that modify the properties of a solute, giving it a sweet, sour, or tangy taste. While the term is colloquially used to refer to the combined taste and smell sensations, it also encompasses edible chemicals and extracts used in the fragrance and taste industry to affect the flavor of food and beverages through the olfactory senses. The premium quality and natural taste of these flavorings are expected to contribute to the rapid growth of the global flavor industry. Flavorings, also known as flavors, are culinary additives that enhance the taste or fragrance of food and alter the perceptual perception of food, primarily through the olfactory and gustatory system chemoreceptors.
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Top Companies Operating in the Global Flavors Market Report:
- Givaudan SA (Switzerland)
- International Flavors Fragrances, Inc. (U.S.)
- Firmenich SA (Switzerland)
- Symrise AG (Germany)
- Sensient Technologies Corporation (U.S.)
- MANE SA (France)
- Takasago International Corporation (Japan)
- Robertet Group (France)
- Huabao International Holdings Limited (Hong Kong)
- Kerry Group (Ireland)
- Koninklijke DSM N.V. (Netherlands)
- BASF SE (Germany)
- Archer Daniels Midland Company (U.S.)
Major Driving Factors of Flavors Market:
- Increasing demand for convenience foods: With the rise of busy lifestyles, there has been an increase in demand for ready-to-eat and packaged foods. As a result, manufacturers are using different flavorings to enhance the taste of these foods.
- Growing demand for natural and organic flavors: Consumers are becoming more health-conscious and are increasingly opting for natural and organic foods. This has led to a surge in demand for natural and organic flavorings.
- Advancements in technology: Advancements in technology have made it possible to create new and innovative flavors. Manufacturers are using advanced technologies such as gas chromatography and mass spectrometry to identify and create new flavor compounds.
- Increasing disposable income: As disposable income increases, consumers are more likely to spend money on premium and high-quality foods. This has led to a growing demand for premium and exotic flavors.
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An analysis of the Flavors market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Flavors market, a country-by-country analysis of the market is provided in the report.
The global Flavors market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook (Revenue, USD Billion; 2019-2030)
- Natural Flavoring Substances
- Nature-identical Flavoring Substances
Application/End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Hard candy, cookies, and other baked goods
- Soft drinks, beverages, ice cream, and other cold drinks
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