According to the report “Global Food Flavors Market” published by Market Data Forecast, the global market is projected to reach USD 16.86 billion by 2021, at a CAGR of 5.75% from 2016 to 2021.
Flavors are commonly used to improve the taste of food products. There are mainly two origins of food flavors namely, natural and synthetic. Natural food flavors are animal or plant based products, whereas synthetic flavors are mixture of edible chemicals. Food and beverage industries require flavor for different purposes such as new product development, to add new product line and to change the taste of existing product.
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The market for food flavors is mainly driven due to rampant urbanization, growth of disposable income and availability of convenience goods. Also, additional factors such as awareness among governments and consumers to address specific health and nutritional needs are strongly fuelling the food and beverage markets, which, in turn are boosting the market for food flavors.
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Global market for Food Flavors is segmented as follows:
- Fruits & Nuts
- Savory & Snacks
- Bakery & Confectionery
- Dairy & Frozen Products
Geographically, the market for Food Flavors market is segmented as below:
- North America
- Latin America
- Middle-East and Africa
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Kerry Group, Givaudan, Firmenich, Sensient Technologies Corporation, Symrise AG, Frutarom Industries, Archer Daniels Midland Company, DohlerGroup, AGRANA Group, SVZ International B.V. and SunOpta, Inc.are the major players of Global Food Flavors market.
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