Northbrook, IL -- (SBWIRE) -- 11/26/2020 -- According to MarketsandMarkets, the food flavors market 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%, in terms of value. The growing demand for processed and comfort food as well as the increased consumption of confectionery items, are creating the demand for food flavor. With the advancement of new technologies and innovative experiments in the food & beverage sector, the consumption of flavors is increasing. The Asia Pacific segment is poised to dominate the market due to its high production of processed food, whereas the South American region is projected to be the fastest-growing, owing to new technologies and an increase in the export of food & beverages.

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By type, the food application is projected to account for the largest share in the market during the forecast period

Recent trends in the food industry witness consumers leaning toward natural flavors because of the many health benefits associated with them. Due to an increase in dairy production, the food sector is facing tremendous growth, especially in Asian countries. Apart from that, the meat processing industries are also flourishing, thus driving the market. The bakery and confectionery demands are also surging, which is pushing the food flavors market all across the globe.

By application, the fruit & nut segment is projected to account for the largest share in the food flavors market by type during the forecast period

Fruit flavors are present as fruit concentrates, syrups, extracts, which are used across industries such as food, beverage, dairy, confectionery, pharmaceutical, nutritional food, and vitamin supplement industries. Various fruits are quite popular such as apple, mango, banana, pineapple, grapes, berries, pomegranate, and citrus fruits. They are processed to make syrups and fruit extracts, which are later added to various food & beverage items to alter or add taste, smell, or color.

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The nuts are known to provide essential oil and the necessary fiber in the recipe. It is also known to provide a rich feel to the final product; therefore, it is quite popular among the manufacturers.

The Asia Pacific region dominated the food flavors market with the largest share in 2019, whereas South America is expected to witness the highest growth rate.

The food flavors market in Asia Pacific is estimated to be dominant due to the increasing demand for processed food, because of the shift in lifestyle trends. People are looking for several healthy ready-to-eat options without compromising on taste. The production of dairy and meat processed food has also been increasing, which is again increasing the demand for food flavors.

The fastest-growing market is projected to be South America. As consumers have shown an inclination toward clean-label and organic products, this has enabled manufacturers to consider organic ingredients as major components of the products. Due to this, the food flavors market in the region is rising due to the demand for organic flavors.

Key Market Players:
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 Flavors & Fragrances (Singapore), Tate & Lyle (UK), Robertet (France), McCormick & Company (US), Wanxiang International (China), Treatt (England), China Flavors and Fragrances (China), Lucta (Spain), and Solvay (Belgium).

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