Flavour Market Research Report (India, Bangladesh, Sri Lanka and Nepal)- Forecast to 2027

Flavour Market Information by Product Type (Natural and Synthetic), Application (Food, Beverages, Tobacco, Cosmetic & personal care and Pharmaceuticals) and Country (India, Nepal, Sri Lanka, Bangladesh) - Forecast to 2027

ID: MRFR/F-B & N/2818-CR | August 2017 | Region: Global | 90 pages

Food Flavor Market Overview


The Food Flavor Market is evaluated to grow at a CAGR of 5.5%. Thus, the market value will further reach up to USD 22.5 Billion by the studied forecast period 2021-2028. The colours and flavors contain some additives that are extensively used for adding flavours to beverages and food. It also helps o improve the taste and flavor of the manufactured product. The rising demand for food flavours for various applications is the crucial reason for extensive Food Flavor Market Growth.


North America is evaluated to have the largest market share. Along with that, the Asia-Pacific region is evaluated to experience the fastest CAGR in the Food Flavor Market in the upcoming years. Along with that, the rising demand for synthetic flavors for the production of juices and other aerated drinks will enhance the market growth.


COVID-19 Analysis


The spread of coronavirus disease has a massive impact on the financial condition of various countries. The sales of the company were significantly reduced as the manufacturing of produced was interrupted for several months. However, with the waiver of lockdown, the development to improve the supply chain and improvement in the product has helped the Food Flavor Market to regain its growth.


Market Dynamics


Market Drivers


The significant shift in consumer choices has played a crucial role. The rising health awareness, physical choices, and food choices for vegan and meat are providing immense categories for customers. Thus, to fulfill the demand of the public, the manufacturers in the Food Flavor Market are improving the research and development activities. It is because the synthetic food flavors are made up of amyl acetate that causes chest pain, indigestion, fatigue, and other health problems.


Restraints


The side effects of the flavors bet it synthetic and natural can act as a restraint for the market. Other compounds such as carvacrol, butyric acid, also called health problems. Hence, this can be a huge concern for customers and it can hamper the market growth.


Opportunities


The rising Food Flavor Market Trends is anticipated to offer new opportunities for the market. The wide range of uses of flavor among confectionery, desserts, dairy, beverages, etc. will enhance the market growth. Also, uses of marine sources such as seaweed and others are depicted to offer new opportunities for the market.


Challenges


The strict regulations to meet the necessary stands of regulation can be challenging for the market. These regulations can differ from one country to another that can slow down the market growth to some extent. Also, the rising process of new products can cause product recalls.


Cumulative Analysis


The Compound Annual Growth Rate (CAGR) of the Food Flavor Market is estimated to reach up to 5.5%. According to the MRFR analysis, the Market Value is evaluated to reach up to USD 22.5 Billion by the studied forecast period 2021-2028. The drivers such as the rising demand for organic products and various opportunities are expected to fuel the market.


Value Chain Analysis


The growing development and rising Flavour Market Trends for organic and natural products will boost the market. Also, the growing investments by key players will lead to several advantages. Hence, the improvement in the supply chain will also lead to improving the value chain of the market. 


Market Segmentations


The Food Flavor Market segment is divided into application and source. Based upon the source, the Market is divided into Synthetic and Natural. Based upon application, the market is divided into Frozen and Dairy Desserts, Confectionery and Bakery, Beverages, Savory and Sweet Snacks, and Others.


Regional Analysis


Based on region, the Food Flavor Market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is divided into Canada, Mexico, and the US. Further, the Asia-Pacific region is fragmented into Japan, India, Australia, and New Zealand China, and Rest. Then, Europe is segmented into Spain, France, Italy, Germany, the UK, and the rest. Lastly, the rest of the world segment consists of countries in Africa, Latin America, and the Middle East. According to the Flavour Market Forecast by MRFR, Europe will lead the market with the highest share. The presence of various key players and rapid innovation are the crucial drivers of this region.


After that, North America is depicted to hold the second-largest Flavour Market Share in the studied forecast period. The rising demand for natural ingredients and organic food products is fuelling the growth of the market.


However, the Asia-Pacific region is evaluated to experience the fastest growth in the studied forecast period. Due to the rapidly developing countries like India as well as China, the Flavour Market will boom in the future years.


Lastly, the Rest of the world segment is estimated to experience slow growth as compared to other regions. However, with gradual development, it is expected that the market will also have notable growth in this region.


Competitive Landscape


The Food Flavor Market consists of various market players. These key players are playing a crucial role in uplifting the Market Growth. They do acquisitions, collaborations, partnerships, new product launches, etc. Some of the notable key players in the Market are listed below.



  • Sensient Technologies (US)

  • Firmeninch International SA (Switzerland)

  • Hasegawa (Japan)

  • Flavoroma Flavors and Fragrances (India)

  • Givaudan SA (Switzerland

  • Takasago International Corporation (Japan)

  • Symrise (Germany)

  • Archer Daniels Midland (US)

  • Kerry Group (Ireland)

  • Taiyo International (Japan)

  • Axxence Aromatic GmbH (Germany)

  • Zymus International Ltd. (New Zealand)

  • Blue Pacific Flavours (US)

  • Unique Flavours and Fragrances USA Inc. (US)

  • Gold Coast Ingredients (US)


 


Recent Developments



  • Givaudan in 2018 announced the acquisition of a company called Ungerer to improve its capability to provide efficient ingredients.

  • Archer Daniels Midland in 2019 acquired a company named Ziegler Group Management. This acquisition will help the company to become the leading provider in Europe.



Report Overview


The overview of the Food Flavor Market Forecast is as follows.



  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development


 


Report Score and Segmentation


The report score is to provide information about the Flavour Market Outlook. It provides information about the CAGR, market value, opportunities, rivers, etc. The information provided in this report is collected from various primary and secondary sources.



  • Study Period- 2021-2028

  • Base Year-2021

  • Forecast Period- 2021-2028

  • Historical Period-2017-2020


 


Segmentation


By Application



  • Frozen and Dairy Desserts

  • Confectionery and Bakery

  • Beverages

  • Savory and Sweet Snacks


By Source



  • Synthetic

  • Natural


By Region



  • Asia-Pacific

  • Europe

  • North America

  • Rest of the World



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Frequently Asked Questions (FAQ) :


The Food Flavor Market is evaluated to grow at a CAGR of 5.5% during the studied forecast period 2021-2028.

The market value of the Food Flavor Market is projected to reach up to USD 22.5 Billion by the studied forecast period 2021-2028.

The Food Flavor Market segment is divided into application and source. Based upon the source, the Food Flavor Market is divided into Synthetic and Natural. Based upon application, the market is divided into Frozen and Dairy Desserts, Confectionery and Bakery, Beverages, Savory and Sweet Snacks, and Others. Based upon the region, the Food Flavor Market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. The North American region is segmented into Canada, the US, and Mexico. Then, the Asia-Pacific region is divided into India, China, New Zealand and Australia, China, Japan, and the rest. After that, Europe is segmented into Italy, Germany, Spain, the UK, France, and the rest. Furthermore, the region of the Rest of the World is fragmented into Africa and the Middle East, and Latin America.

Geographically, the Food Flavor Market is divided into Europe, North America, Asia-Pacific, and the Rest of the World. It is evaluated that the European region will lead the market in the studied forecast period. The presence of various key players and rapid development is the major reason for the significant development. Also, North America is depicted to hold a significant share in the Food Flavor Market. It is due to the rising demand for organic items and natural flavors among consumers in countries such as Canada and the US. Furthermore, Asia-Pacific is evaluated to experience the highest Food Flavor Market Growth in the upcoming years. Countries such as China, India, Japan, and others are playing a major role in boosting market growth.

The Food Flavor Market is fragmented into various key players. They are Sensient Technologies, Firmenich International SA (Switzerland), T. Hasegawa (Japan) Flavoroma Flavors and Fragrances (India), Givaudan SA (Switzerland), Takasago International Corporation (Japan), Symrise (Germany), Archer Daniels Midland (US), Kerry Group (Ireland), Taiyo International (Japan), Axxence Aromatic GmbH (Germany), Zymus International Ltd. (New Zealand), Blue Pacific Flavours (US), Unique Flavours and Fragrances USA Inc. (US), Gold Coast Ingredients (US), and others.

Table of Contents

1 Industry Overview of Flavour 10

1.1 Product Overview and Scope of Flavour 10

1.2 Scope of the Study 10

1.2.1 Study Objectives 10

1.3 Assumptions 11

1.4 Limitations 11

1.5 Market Structure 11

2 Premium Insights 12

2.1 Flavour Market: Market Mapping & Research Methodology 12

2.2 Market Overview: Flavour Market 13

2.3 Industry Trends and Market Environment: Flavour Market 14

3 India Flavour Market (2020-2027) 16

3.1 India Flavour Market by Product Type Segment 16

3.1.1 India Flavour Market Sales (USD Million), by Producy Type Segment (2020-2027) 16

3.2 India Flavour Market by Application 17

3.2.1 India Flavour Market Sales (USD Million), by Application (2020-2027) 17

4 Bangladesh Flavour Market (2020-2027) 19

4.1 Bangladesh Flavour Market by Product Type Segment 19

4.1.1 Bangladesh Flavour Market Sales (USD Million), by Product Type Segment (2020-2027) 19

4.2 Bangladesh Flavour Market by Application 20

4.2.1 Bangladesh Flavour Sales (USD Million) by Application (2020-2027) 20

5 Sri Lanka Flavour Market (2020-2027) 22

5.1 Sri Lanka Flavour Market by Product Type Segment 22

5.1.1 Sri Lanka Flavour Market Sales (USD Million), by Producy Type Segment (2020-2027) 22

5.2 Sri Lanka Flavour Market By Application 24

5.2.1 Sri Lanka Flavour Market Sales (USD Million), by Application (2020-2027) 24

6 Nepal Flavour Market (2020-2027) 25

6.1 Nepal Flavour Market by Product Type Segment 25

6.1.1 Nepal Flavour Market Sales (USD Million) by Producy Type Segment (2020-2027) 25

6.2 Nepal Flavour Market by Application 26

6.2.1 Nepal Flavour Sales (USD Million) by Application (2020-2027) 26

7 Market Dynamics 28

7.1 Introduction 28

7.1.1 Drivers: 29

7.1.1.1 Rising demand for clean label products 29

7.1.1.2 Rising demand for convenience food & beverages: 30

7.1.1.3 Increase in disposable income: 30

7.1.2 Restraints: 31

7.1.2.1 Stringent regulatory framework 31

7.1.2.2 Research & Development cost 31

7.1.3 Opportunities: 31

7.1.3.1 Increasing consumption of functional food & beverages: 31

7.1.3.2 Penetration into growing economies: 31

7.1.3.3 Growing population of vegan consumers: 32

7.1.3.4 Technological advancement: 32

7.1.4 Challenges 33

7.1.4.1 Chances of food allergy and intolerance 33

7.1.4.2 Contamination of food and beverages products 33

7.1.5 Trends 33

7.1.5.1 Merger & Acquisitions 33

7.1.5.2 Increasing demand of natural flavours over synthetic flavours 34

7.1.5.3 Huge investments in R&D and new product developments 34

8 Flavour Manufacturers Profile 35

8.1 Company Market Share Analysis in Indian Flavour Market 35

8.2 Givaudan SA 36

8.2.1 Company Profile 36

8.2.2 Product Specifications 37

8.2.2.1 Flavour 37

8.2.3 Givaudan SA Revenue (USD Million) 37

8.3 Firmenich SA 38

8.3.1 Company Profile 38

8.3.2 Product Specifications 39

8.3.2.1 Flavour 39

8.3.3 Firmenich SA Revenue 39

8.4 International Flavors & Fragrances Inc. 40

8.4.1 Company Profile 40

8.4.2 Product Specifications 41

8.4.2.1 Flavour 41

8.4.3 International Flavors & Fragrances Inc.Revenue 41

8.5 Symrise AG 42

8.5.1 Company Profile 42

8.5.2 Product Specifications 43

8.5.2.1 Flavour 43

8.5.3 Symrise AG Revenue 43

8.6 Takasago International Corporation 44

8.6.1 Company Profile 44

8.6.2 Product Specifications 45

8.6.2.1 Flavour 45

8.6.3 Takasago International Corporation Revenue 45

8.7 Wild Flavors, Inc. 46

8.7.1 Company Profile 46

8.7.2 Product Specifications 47

8.7.2.1 Flavour 47

8.7.3 Wild Flavors, Inc. Revenue 47

8.8 Mane SA 48

8.8.1 Company Profile 48

8.8.2 Product Specifications 49

8.8.2.1 Flavour 49

8.8.3 Mane SA Revenue 49

8.9 Robertet Group 50

8.9.1 Company Profile 50

8.9.2 Product Specifications 51

8.9.2.1 Flavour 51

8.9.3 Robertet Group Revenue 51

8.10 Sensient Technologies Corporation 52

8.10.1 Company Profile 52

8.10.2 Product Specifications 53

8.10.2.1 Flavour 53

8.10.3 Sensient Technologies Corporation 53

8.11 T. Hasegawa Co., LTD. 54

8.11.1 Company Profile 54

8.11.2 Product Specifications 55

8.11.2.1 Flavour 55

8.11.3 T. Hasegawa Co.,Ltd. Revenue 55

8.12 Kerry Group 56

8.12.1 Company Profile 56

8.12.2 Product Specifications 57

8.12.2.1 Flavour 57

8.12.3 Kerry Group Revenue 57

8.13 Synergy Flavors, Inc. 58

8.13.1 Company Profile 58

8.13.2 Product Specifications 59

8.13.2.1 Flavour 59

8.14 Huabao International 60

8.14.1 Company Profile 60

8.14.2 Product Specifications 61

8.14.2.1 Flavour 61

8.14.3 Huabao International Revenue 61

8.15 S H Kelkar and Company Limited 62

8.15.1 Company Profile 62

8.15.2 Product Specifications 63

8.15.2.1 Flavour 63

9 Marketing Channel Analysis 64

9.1 Marketing Channel 64

9.1.1 Direct Marketing 64

9.1.2 Indirect Marketing 64

9.1.3 Marketing Channel Development Trend 64

10 Market Factor Analysis 67

10.1 Introduction 67

10.2 Value Chain Analysis 67

10.3 Supply Chain Analysis 69

10.4 Porter's 5 Forces Analysis 70

10.4.1 Threat of New Entrants 71

10.4.2 Threat of Substitutes 71

10.4.3 Bargaining Power of Buyers 72

10.4.4 Bargaining Power of Suppliers 72

10.4.5 Intensity of Rivalry 73

11 India Flavour Market Size Forecast (2020-2027) 74

11.1 India Flavour Market Value, (USD million) by Product Type Forecast (2020-2027) 74

11.2 India Flavour Market Value, (USD million) by Application Forecast (2020-2027) 76

12 Bangladesh Flavour Market Size Forecast (2020-2027) 78

12.1 Bangladesh Flavour Market Value, (USD million) by Product Type Forecast (2020-2027) 78

12.2 Bangladesh Flavour Market Value, (USD million) by Application Forecast (2020-2027) 80

13 Sri Lanka Flavour Market Size Forecast (2020-2027) 82

13.1 Sri Lanka Flavour Market Value, (USD million) by Product Type Forecast (2020-2027) 82

13.2 Sri Lanka Flavour Market Value, (USD million) by Application Forecast (2020-2027) 84

14 Nepal Flavour Market Size Forecast (2020-2027) 86

14.1 Nepal Flavour Market Value, (USD million) by Product Type Forecast (2020-2027) 86

14.2 Nepal Flavour Market Value, (USD million) by Application Forecast (2020-2027) 88

15 Conclusion 90


List of Tables

TABLE 1 INDIA FLAVOUR SALES (USD MILLION) BY PRODUCT TYPE SEGMENT (2020-2027) 16

TABLE 2 INDIA FLAVOUR SALES (USD MILLION) BY APPLICATION (2020-2027) 17

TABLE 3 BANGLADESH FLAVOUR SALES (USD MILLION) BY PRODUCT TYPE SEGMENT (2020-2027) 19

TABLE 4 BANGLADESH FLAVOUR MARKET SALES (USD MILLION), BY APPLICATION (2020-2027) 20

TABLE 5 SRI LANKA FLAVOUR SALES (USD MILLION) BY PRODUCT TYPE SEGMENT (2020-2027) 22

TABLE 6 SRI LANKA FLAVOUR SALES (USD MILLION), BY APPLICATION (2020-2027) 24

TABLE 7 NEPAL FLAVOUR SALES (USD MILLION) BY PRODUCT TYPE SEGMENT (2020-2027) 25

TABLE 8 NEPAL FLAVOUR SALES (USD MILLION) BY APPLICATION (2020-2027) 26

TABLE 9 GIVAUDAN SA INFORMATION LIST 36

TABLE 10 FIRMENICH SA INFORMATION LIST 38

TABLE 11 INTERNATIONAL FLAVORS & FRAGRANCES INC. INFORMATION LIST 40

TABLE 12 SYMRISE AG INFORMATION LIST 42

TABLE 13 TAKASAGO INTERNATIONAL CORPORATION INFORMATION LIST 44

TABLE 14 WILD FLAVORS, INC. INFORMATION LIST 46

TABLE 15 MANE SA INFORMATION LIST 48

TABLE 16 ROBERTET GROUP INFORMATION LIST 50

TABLE 17 SENSIENT TECHNOLOGIES CORPORATION INFORMATION LIST 52

TABLE 18 T. HASEGAWA CO., LTD. INFORMATION LIST 54

TABLE 19 T. HASEGAWA CO., LTD. INFORMATION LIST 56

TABLE 20 SYNERGY FLAVORS, INC. INFORMATION LIST 58

TABLE 21 HUABAO INTERNATIONAL INFORMATION LIST 60

TABLE 22 S H KELAKAR AND COMPANY LIMITED INFORMATION LIST 62

TABLE 23 DISTRIBUTOR/ TRADERS LIST OF FLAVOUR IN BANGLADESH 65

TABLE 24 DISTRIBUTOR/ TRADERS LIST OF FLAVOUR IN INDIA 65

TABLE 25 DISTRIBUTOR/ TRADERS LIST OF FLAVOUR IN SRI LANKA 66


List of Figures

FIGURE 1 MARKET SEGMENTATION: FLAVOUR MARKET 13

FIGURE 2 PRODUCT LIFECYLE HYPOTHESIS: FLAVOUR MARKET 14

FIGURE 3 PRODUCT LIFECYLE HYPOTHESIS: FLAVOUR MARKET, BY COUNTRY 15

FIGURE 4 INDIA FLAVOUR MARKET AND GROWTH RATE (2020-2027) 16

FIGURE 5 INDIA FLAVOUR MARKET, BY PRODUCT TYPE (%) IN 2020 17

FIGURE 6 INDIA FLAVOUR MARKET, BY APPLICATION (%) IN 2020 18

FIGURE 7 BANGLADESH FLAVOUR MARKET AND GROWTH RATE (2020-2027) 19

FIGURE 8 BANGLADESH FLAVOUR MARKET, BY PRODUCT TYPE (%) IN 2020 20

FIGURE 9 BANGLADESH FLAVOUR MARKET, BY APPLICATION (%) IN 2020 21

FIGURE 10 SRI LANKA FLAVOUR MARKET AND GROWTH RATE(2020-2027) 22

FIGURE 11 SRI LANKA FLAVOUR MARKET, BY PRODUCT TYPE (%) IN 2020 23

FIGURE 12 SRI LANKA FLAVOUR MARKET, BY APPLICATION (%) IN 2020 24

FIGURE 13 NEPAL FLAVOUR MARKET AND GROWTH RATE (2020-2027) 25

FIGURE 14 NEPAL FLAVOUR MARKET, BY PRODUCT TYPE (%) IN 2020 26

FIGURE 15 NEPAL FLAVOUR MARKET, BY APPLICATION (%) IN 2020 27

FIGURE 16 IMPACT ANALYSIS- DRIVERS 29

FIGURE 17 VALUE CHAIN ANALYSIS OF FLAVOUR MARKET 66

FIGURE 18 SUPPLY CHAIN ANALYSIS OF FLAVOUR MARKET 68

FIGURE 19 PORTER'S 5 FORCES ANALYSIS OF FLAVOUR MARKET 69

FIGURE 20 INDIA FLAVOUR MARKET VALUE (USD MILLION) BY PRODUCT TYPE FORECAST (2020-2027) 73

FIGURE 21 INDIA FLAVOUR MARKET COMPARISON BY PRODUCT TYPE (2020-2027) 74

FIGURE 22 INDIA FLAVOUR MARKET GROWTH RATE (%) BY PRODUCT TYPE (2020-2027) 74

FIGURE 23 INDIA FLAVOUR MARKET VALUE (USD MILLION) BY APPLICATION FORECAST (2020-2027) 75

FIGURE 24 INDIA FLAVOUR MARKET COMPARISON BY APPLICATION (2020-2027) 76

FIGURE 25 INDIA FLAVOUR MARKET GROWTH RATE (%) BY APPLICATION (2020-2027) 76

FIGURE 26 BANGLADESH FLAVOUR MARKET VALUE (USD MILLION) BY PRODUCT TYPE FORECAST (2020-2027) 77

FIGURE 27 BANGLADESH FLAVOUR MARKET COMPARISON BY PRODUCT TYPE (2020-2027) 78

FIGURE 28 BANGLADESH FLAVOUR MARKET GROWTH RATE (%) BY PRODUCT TYPE (2020-2027) 78

FIGURE 29 BANGLADESH FLAVOUR MARKET VALUE (USD MILLION) BY APPLICATION FORECAST (2020-2027) 79

FIGURE 30 BANGLADESH FLAVOUR MARKET COMPARISON BY APPLICATION (2020-2027) 80

FIGURE 31 BANGLADESH FLAVOUR MARKET GROWTH RATE (%) BY APPLICATION (2020-2027) 80

FIGURE 32 SRI LANKA FLAVOUR MARKET VALUE (USD MILLION) BY PRODUCT TYPE FORECAST (2020-2027) 81

FIGURE 33 SRI LANKA FLAVOUR MARKET COMPARISON BY PRODUCT TYPE (2020-2027) 82

FIGURE 34 SRI LANKA FLAVOUR MARKET GROWTH RATE (%) BY PRODUCT TYPE (2020-2027) 82

FIGURE 35 SRI LANKA FLAVOUR MARKET VALUE (USD MILLION) BY APPLICATION FORECAST (2020-2027) 83

FIGURE 36 SRI LANKA FLAVOUR MARKET COMPARISON BY APPLICATION (2020-2027) 84

FIGURE 37 SRI LANKA FLAVOUR MARKET GROWTH RATE (%) BY APPLICATION (2020-2027) 84

FIGURE 38 NEPAL FLAVOUR MARKET VALUE (USD MILLION) BY PRODUCT TYPE FORECAST (2020-2027) 85

FIGURE 39 NEPAL FLAVOUR MARKET COMPARISON BY PRODUCT TYPE (2020-2027) 86

FIGURE 40 NEPAL FLAVOUR MARKET GROWTH RATE (%) BY PRODUCT TYPE (2020-2027) 86

FIGURE 41 NEPAL FLAVOUR MARKET VALUE (USD MILLION) BY APPLICATION FORECAST (2020-2027) 87

FIGURE 42 NEPAL FLAVOUR MARKET COMPARISON BY APPLICATION (2020-2027) 88

FIGURE 43 NEPAL FLAVOUR MARKET GROWTH RATE (%) BY APPLICATION (2020-2027) 88