Global Natural Food Flavours Market Size to Grow at a CAGR of 6.3% Between in the Forecast Period of 2022-2027
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The key highlights of the report include:
Market Overview 2017-2027
• Forecast CAGR (2022-2027): 6.3%
Natural food flavours are considered great seasonings as they provide a great aroma to foods. These flavourings decrease the cooking time, bolster shelf stability, and mask unpleasant odour. In this regard, the advantages offered by the natural food flavours are leading to their heightened incorporation in diversified delicacies and cuisines.
Over the forecast period, the increasing demand for natural food flavours in seafood, meat products, soups, and vegan snacks are likely to enhance the global natural food flavours market growth. The increasing sales of packaged bakery and confectionery food products owing to the growing popularity of rich flavoured biscuits, cakes, and muffins are further propelling the demand for natural food flavours.
The increasing incorporation of natural food flavours in alcoholic beverages such as wine and beer are likely to be a major driving factor of the market. Meanwhile, the increasing popularity of non-alcoholic soft drinks with innovative flavours such as strawberry, lemon, and vanilla, among others, is anticipated to offer lucrative opportunities to the natural food flavours market in the forecast period.
In terms of region, North America accounts for a significant share in the market owing to the high demand for meat products such as sausages and hamburgers in which natural food flavours are key ingredients. Moreover, the thriving food and beverage industry across strong economies such as the United States of America and Canada are likely to spearhead the demand for clean-labelled flavoured food and beverage products in the forecast period.
Meanwhile, the Asia Pacific region is estimated to register a high growth in the forecast period, owing to the large population base across countries such as India and China. Furthermore, the growing popularity of Indian and Japanese cuisines such as chicken curries and Shushi, among others, is further bolstering the natural food flavours market demand.
Natural Food Flavours Industry Definition and Major Segments
Natural food flavours refer to the type of flavouring which is derived from the natural sources. For instance, natural lemon flavouring is a type of food flavouring which is 95% natural lemon. Unlike artificial food flavourings, these flavours do not require chemical processing in laboratories. Due to their natural properties, natural food flavourings cost more than the artificial ones.
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Based on application, the market can be segmented into:
• Bakery and Confectionery
• Dairy and Desserts
• Savoury and Snacks
• Meat and Meat Products
On the basis of region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Natural Food Flavours Market Trends
The thriving e-commerce and online food delivery service platforms are propelling the demand for natural food flavours in premium packaged and fresh-made food products.
The growing research and development activities in the soft drinks industry is another key trend in the market which is increasing the demand for natural fragmenting food flavours. Meanwhile, the increasing demand for protein-based bodybuilding beverages are likely to increase the demand for innovative and natural flavouring ingredients.
Moreover, the increasing number of companies entering into the natural food flavours market are anticipated to drive the market growth. In order to gain a competitive edge, these companies are anticipated to invest significantly in the research and development activities, and in the incorporation of modern food processing techniques which are likely to spearhead the manufacturing of superior quality natural food flavours.
The increasing demand for natural food flavours from the household sector, owing to the easy access to innovative recipes and rising standards of living are driving the natural food flavours market growth globally. Further rapid urbanisation, robust development of supermarkets and hypermarkets, and increasing awareness pertaining to the benefits offered by natural food flavours are some of the key factors bolstering the market growth.
Key Market Players
Some major players in the market:
• Firmenich SA
• Archer Daniels Midland Company
• MANE Group
• Kerry Group PLC
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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