Sugar & Dessert Craving at Wee Hours to Prompt Europe Food Flavor Manufacturers to Introduce Innovative Food Flavors: Sales in U.K. to Surge at Robust Pace

The global food flavors market is projected to grow at a steady CAGR of 6.2% during the forecast period from 2022 to 2032. Sales of food flavors in the market are anticipated to reach a valuation of US$ 10.2 Bn by the end of 2022.

Increasing usage of food flavorings in bakery goods such as cookies and cakes is the key driving force behind the flourishing food flavors market in Europe. Consumers are increasingly demanding more variety of bakery goods. Hence, manufacturers are utilizing various food flavors during preparation of bakery items.

Growing popularity of cupcakes and cake pops over traditional birthday cakes is a key trend that is creating prospects for food flavors market across Europe. People in countries like the U.K., Germany, and France consume products like cupcakes, cake, and several exotic items to satiate their appetite.

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In addition to this, product innovation has also driven growth in Europe food flavor market. Thanks to easy availability of a wide range of food flavors including pistachio, pumpkin spice, and tres leches, bakers have the freedom to use any specific type for making novel products.

As these flavors become more popular, manufacturers will increase production to meet the growing demand. It is no coincidence that many bakeries begin to offer vegan options alongside dairy-based items on their menus.

Consumers are increasingly demanding baked goods with unique flavors and high-quality ingredients, which is boosting the need for sweeteners, colorants, preservatives and other additives to be used in their production. Consequently, this factor will continue to have a positive impact on the Europe food flavor market over the next ten years.

Key Takeaways from the Food Flavors Market

The Europe food flavors and enhancers market is anticipated to reach a valuation of around US$ 4.2 Bn by 2027.
The food flavor market in U.K. is likely to witness a steady growth rate during the forecast period.
In 2021, food flavor market in U.K. accounted for a significant market valuation.
Increasing adoption of food flavors in bakery products is likely to drive the demand for food flavors in Germany.

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"Increasing demand for food flavors to produce bakery items such as cupcakes and cake pops will drive the sales in the Europe food flavors market. Key companies are thus anticipated to manufacture vegan, clean-label flavors to meet the demand,"- Says an FMI Analyst.

Competition Landscape in the Food Flavors Market

Key players are using strategies such as new product launches, partnerships, mergers, and acquisitions to solidify their position. Besides this, they are investing in research & development to introduce new flavors in the market.

Givaudan SA, Symrise, and Tate & Lyle plc are the leading giants in the Europe food flavors market.

Recent Developments

In June 2022, Givaudan in collaboration with Manus Bio, a well-known bio manufacturer of natural goods launched BioNootkatone, a sustainable, natural, clean-label citrus flavor component. The new product offers a refreshing, natural citrus taste that can be used in a variety of food and beverages.

In May 2020, Symrise spent US$ 23.64 Mn in the development of a new flavorings and fragrances manufacturing plant in Nantong, China.
In November 2019, Givaudan SA announced the acquisition of Ungerer & Company, the U.S based manufacturer of flavor, fragrances, and specialty ingredients company. This will enable the company to expand its global flavor business.

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Food flavors Market by Category

By Form, Food Flavors Market is Segmented as:

Powder
Liquid

By Product, Food Flavors Market is Segmented as:

Natural
Artificial

By Application, Food Flavors Market is Segmented as:

Food & Nutrition
Bakery & Confectionery
Beverages
Sauces & Dressings
Dairy & Frozen Desserts
Snacks

By Region, Food Flavors Market is Segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.