The Global Artificial Flavors Market size is projected to reach USD 15.20 billion from USD 9.27 billion in 2019, delivering a CAGR of 5.3% through 2027. Increasing consumer demands for exotic flavored food beverage is likely to drive global artificial flavors market growth.
The artificial flavors are synthetically made in laboratories but are made in a manner that they taste and smell similar to the natural ingredient. Manufacturers make sure that the synthetic flavor nicely replicates the aroma and taste of the real ingredient in the final food or beverage product. As artificial flavors are made in laboratories, they are governed and labeled by regulatory bodies such as the Food and Drug Administration, European Food Safety Authority, and others. These agencies ensure the safety of artificial flavoring substances for human consumption.
Changing lifestyles with rapid globalization and urbanization trends will fuel the demand for variety in food and beverages, which, in turn, will create lucrative opportunities for the global artificial flavors market growth. Also, increasing consumption of fast-food items, extensive advancements in the synthetic flavoring substances, along with exponential growth of the FB industry in the Asia Pacifica region will foster artificial flavors market share through 2027.
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On the basis of type, the flavoring smell segment accounted for 38.8% of the global artificial flavors market revenue share in 2019 and is forecast to showcase a growth rate of 5.2% through 2027.
The mixed flavoring content segment is estimated to exhibit a CAGR of 4.5% over the analysis period.
Based on the form, the liquid segment is estimated to account for the largest share in the artificial flavors market, delivering a CAGR of 5.4% through 2027.
On the basis of application, the dairy beverages segment accounted for the majority of share in the artificial flavors industry in 2019 and is set to witness the highest growth rate of 6% through 2027.
The meat segment is likely to witness a growth rate of 5.9% over the analysis period.
Based on end-use, the edible artificial flavors segment accounted for significant revenue generation in 2019 and is forecast expected to grow at a CAGR of 5.4% through 2027.
In the regional landscape, Europe is estimated to register a CAGR of 4.7% through 2027 on account of inflating demand for flavored nutraceuticals and dietary supplements in the region. Furthermore, the major presence of key industry players in Switzerland and France will positively impact regional market growth.
North America is estimated to account for 25.7% of share in the artificial flavors market, registering a CAGR of 5.8% over the analysis period. The robust growth can be attributed to the presence of key industry players, along with the massive consumption of fast-food in the region.
Key participants in the global artificial flavors market include International Flavors Fragrances, Firmenich SA, Givaudan, Frutarom Industries Ltd., Robertet Group, T. Hasegawa Co., Ltd., Symrise AG, Takasago International Corporation, MANE, and Robertet Group, among others.
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For the purpose of this report, Reports and Data has segmented the Global Artificial Flavors Market on the basis of the applications, form factor, type, end-use, and region:
Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Dairy Beverages
- Medicine
- Confectionery Snacks
- Meats
- Others
Form Factor Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Liquid
- Powder
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Flavoring Tastes
- Flavoring Smell
- Flavoring Colors
- Mixed Flavoring Content
End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Edible
- Non-Edible
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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Key questions answered by the report
- At what rate will the Artificial Flavors Market grow? What will be the value of the market in 2027?
- What are the key factors driving Artificial Flavors Market?
- Which one is the leading region that adds to the highest market valuation in this market?
- What are the strategies adopted by major players in the industry?
- Who are the key players in the Artificial Flavors Market in different sectors?
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