The Report “Natural Flavors Market: By Source (Vegetables, Fruits, Dairy, Meat and Others); By Application (Dairy products, Savory Foods, , Beverages, Bakery & Confectionery and others) & By Geography – Forecast (2015 – 2020) published by IndustryARC, estimates the market to reach $6,295.3 Million by 2020.
Natural Flavors are used to add flavor and aroma to food products, drinks, supplements and pharmaceuticals. These ingredients are derived from natural sources such as orange, lemon, grape, onion, beef and others according to the desired taste profile of the product. Natural flavors have extensive usage in Packaged Food Industry. The natural flavors market is segmented based on source, product type and geographic perspective. The market is forecast to reach $6,295.3 Million by 2020.
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The consumers in developed nations such as Japan, U.S., U.K. and France are becoming increasingly cautious on the food items they consume; this is due to wide exposure to blogs and articles which claim the side effects related to artificial flavors consumption. In addition, consumers’ shift towards consumption of organic and natural food products which contain minimum added chemicals drives the natural flavors market.
Major product types which use natural flavors derived from various sources are beverages, confectionery, bakery, snacks, dietary supplements, dairy and other packaged food. Beverage is the most dominant segment in the natural flavors market. Some of the health conscious consumers are purchasing beverages flavored with natural flavors derived from exotic fruits and vegetables as they are rich in anti-oxidants. The rising demand for addition of healthier and nutritious ingredients in major food categories propels the market for natural flavors.
APAC is the fastest growing market for natural flavors which is estimated to reach $1,857.1 Million by 2020 at a CAGR of 10.5% during 2015- 2020. With heightened awareness and wide availability of natural products in the U.S., North America is the most dominant market for natural flavors. The rising organized retail and the exposure of consumers to premium quality products in countries such as South Africa, Brazil, and India will drive the natural flavors market in these emerging economies.
The Major Players in this Market Include
- Givaudan S.A. (Switzerland)
- Firmenich International SA (Switzerland)
- International Flavors & Fragrances, Inc. (U.S.)
- Takasago International (Japan)
- Symrise AG (Germany)
The key players continue to channelize funds towards R&D and expansion of production facilities in emerging economies. These players account for approximately 60% of the total market. The mid-sized players such as Frutarom (Israel) are fervently making acquisitions with plans to expand market share in developing countries which offer huge growth prospects for natural flavors in near future.
The Global Natural Flavors Market Report provides detailed analysis of the different sources, and end-use product segments.
Various product types included in the report are:
- Bakery & Confectionery
- Savory Foods
- Pharmaceuticals & Dietary Supplements
- Dairy Products
- Other Packaged Goods
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry.
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