(Food-Beverage-News.Com, July 27, 2017 ) Food Flavors are commonly used to improve the taste of food products. Food flavors are made of three components taste, smell and color. Flavors can be broadly classified as natural and synthetic flavors. 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.
The Global Food Flavors Market has been estimated at USD 12.75 Billion in 2016 and is projected to reach USD 16.86 Billion by 2021, at a CAGR of 5.75% during the forecast period from 2016 to 2021.
Browse market data tables and in-depth TOC of the Global Food Flavors Market to 2021 @
The market for food flavors is mainly driven due to high demand of new flavors from food and beverages industry and continuous innovation is driving the need for bringing up new products to market. Also, rising health awareness among the population, growing demand for organic food products and rise in the purchasing power are some of the other factors that are propelling the market growth. But, the market growth is mainly hindered due to FDA regulating the concentration range of synthetic flavors in food products and awareness among consumers about the risks associated with the intake of synthetic food additives.
Global market for Food Flavors is segmented based on type, source and application. By type, the market is further sub-segmented into Chocolate, Vanilla, Fruits & Nuts. By Origin, the market is further sub-segmented into Natural and Synthetic. By Application, the market is further sub-segmented into Beverages, Savory & Snacks, Bakery & Confectionery, Dairy & Frozen Products, Others. Beverage flavor products segment is the largest in terms of revenue, closely followed by bakery & confectionery and savory & snacks flavors segments.
Geographically, Global market for Food Flavors is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe. The North American market for food flavors is witnessing a considerable growth due to increase in packaged food consumption in developed economies. The Food Flavors market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to growing demand for health & wellness foods, technological innovation, and increasing consumer preference towards convenience and ready-to-eat meals.
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