Food Flavors Market is Growing at a Rapid Pace With Increasing Innovations

The global food flavors market size is estimated to be valued at USD 16.4 billion in 2020 and is projected to reach USD 20.7 billion by 2025, recording a CAGR of 4.8% during the forecast period.

The food flavors market is growing at a rapid pace with increasing innovations to launch customized flavor blends. Thus, manufacturers are exploring new revenue streams by launching customized blends in flavors. These customized flavor blends are being increasingly used to enhance the food & beverage product appearance and flavor. Therefore, the usage of flavors by food & beverage manufacturers to help strengthen their market positioning and create new product strategies is expected to aid the growth of the market further.

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The development of advanced products, such as organic and natural beverage flavors, presents excellent opportunities for the growth of the food flavors market. Further opportunities for the market are seen in emerging economies through expansions and investments by key players. Enhancing the product’s flavor profile is the major purpose of developing innovative flavors. The adverse health effects of synthetic flavors and lower availability & stability of natural flavors are the key restraints of the market.

The Nature-identical segment, by origin, is projected to dominate the market during the forecast period.

Nature-identical is the dominant origin segment of the flavors market. Due to the increase in the demand for sweet dishes and confectioneries, flavors have increased in recent times. Manufacturers largely prefer nature-identical flavors due to the similarity of their sources. Also, they are more stable and less toxic as compared to other options.

The Asia Pacific region dominates the food flavors market with the largest share in 2020.

Asia Pacific is the largest region for food flavors and is also one of the significantly growing markets. The increase in the number of young populations is one of the major reasons for the increase in the investment of consumers of Asia Pacific in innovative products. It elevates the opportunities for various applications for the food flavors market. The leading

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Key players in this market include DuPont (US), Archer Daniels Midland (ADM) (US), Givaudan (Switzerland), Kerry Group (Ireland), International Flavors & Fragrances (US), Firmenich (Switzerland), Symrise (Germany), MANE (France), Taiyo International (Japan), T. Hasegawa (Japan), Synergy Flavors (US), Sensient (US), Bell Flavors and Fragrances (US), Flavorchem (US), Takasago (Japan), Keva Flavours (India), Huabao Flavours & Fragrances (Singapore), Tate & Lyle (UK), Robertet (France), McCormick & Company (US), Wanxiang International (China), Treatt (UK), China Flavors and Fragrances (China), Lucta (Spain), and Solvay (Belgium).

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