Increasing demand for liquid natural & artificial flavors, coupled with high investment in the R&D of natural & artificial flavors, are fueling the market growth.
New York, NY -- (SBWIRE) -- 04/22/2021 -- The Global Natural & Artificial Flavors Market is forecast to reach USD 35.07 Billion by 2027, according to a new report by Reports and Data. The natural & artificial flavors are the high-performance additives used in edible and non-edible end-use applications derived from natural or artificial sources such as flowers, fruits, animals, plants, herbs, spices and others as the natural sources and proprietary synthetic chemical formulas owned by the flavor companies as the artificial ones. Formulas created by the natural derivatives enhance the flavor and contribute to the nutritional value to the food items as well. The artificial flavors only help in flavoring the final product. Chemists or flavorists from different flavor manufacturing companies who make the formulations, try to innovate unique flavors with distinctive odors or tastes. The continuous expansion of the food scent & coloring agents and high demand for new kinds of tastes with the enormous innovation in the flavoring agents are expected to drive the growth for the food flavor market.
North America is expected to hold a significant position in the market due to a vast usage of the natural & artificial flavors in the beverage & other food applications. The United States has the highest number of market players, while China has the highest market share worldwide.
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Further key findings from the report suggest
Dairy & beverages application sub-segment is expected to be the fastest-growing segment during the forecast period 2019-2026 with a CAGR of 6.4% due to an increase in the consumption of dairy-based products and natural & artificial flavors mixed beverages, especially in the emerging nations. This sub-segment also had the highest market share in 2018.
Natural & artificial flavors are utilized in the pharmaceutical industries to adapt fragrance, color, and tastes of various natural ingredients. Both the orally consumed products and external use of medicated products such as syrups, chewable tablets, and suspensions, gums, and spray, among others, require natural & artificial flavors in the processing. The medicated products sub-segment had a significant market share in 2018.
It takes considerable time and resources in the research and development of the food & beverage industry to find the perfect flavor that will be widely accepted worldwide and increase the revenue of the company while expanding its customer base. It is very important to adopt an appropriate research method for understanding the preferences of people.
The manufacturers of foods and beverages are expanding their business to enable the easy availability of their products worldwide. For example, in April 2019, New Age Beverages Corporation, a Colorado-based beverage company, announced its distribution agreement with Hudson News. The objective of this agreement was to expand the brand's portfolio nationally.
Europe is growing at a CAGR of 5.2% in the forecast period and is expected to retain a significant position in the market by 2027. Switzerland and France have some of the valuable players in this region.
North America is forecasted to witness significant growth in the overall market, growing with a CAGR of 6.3% during the forecast period.
Key participants include International Flavors & Fragrances, Givaudan, Frutarom Industries Ltd., Firmenich SA, Robertet Group, T. Hasegawa Co., Ltd., Takasago International Corporation, Symrise AG, Robertet Group, and MANE, among others.
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For the purpose of this report, Reports and Data have segmented the global Natural & Artificial Flavors market on the basis of the applications, form factor, type, End-Use, and region:
Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
Dairy & Beverages
Medicated Products
Confectionery & Snacks
Scent & Perfumes
Others
Form Factor Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
Liquid
Powder
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
Flavoring Tastes
Flavoring Smell
Flavoring Colors
Mixed Flavoring Content
End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
Edible
Non-Edible
Regional Outlook (Revenue in USD Billion; 2017–2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Natural & Artificial Flavors Market Segmentation & Impact Analysis
4.1. Natural & Artificial Flavors Market Material Segmentation Analysis
4.2. Industrial Outlook
……………
Chapter 10. Competitive Landscape
10.1. Market Revenue Share By Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Market positioning
10.5. Strategy Benchmarking
10.6. Vendor Landscape
Chapter 11. Company Profiles
11.1. International Flavors & Fragrances
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Technology Insights
11.1.4. Strategic Initiatives
11.2. Givaudan
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Technology Insights
11.2.4. Strategic Initiatives
11.3. Frutarom Industries Ltd.
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Technology Insights
11.3.4. Strategic Initiatives
11.4. Firmenich SA
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Technology Insights
11.4.4. Strategic Initiatives
11.5. Robertet Group
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Technology Insights
11.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Natural & Artificial Flavors market and its competitive landscape.
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