GITNUX MARKETDATA REPORT 2024

Flavour Industry Statistics

The flavour industry has experienced steady growth in recent years driven by increasing demand for natural and exotic flavours in food and beverage products.

With sources from: mintel.com, grandviewresearch.com, reportocean.com, researchandmarkets.com and many more

Statistic 1

The global flavors and fragrances market size was estimated at USD 22.37 billion in 2020.

Statistic 2

The flavor and fragrance market is projected to reach USD 28.2 billion by 2025.

Statistic 3

The beverage application dominated 45.2% of the flavors industry in 2020.

Statistic 4

In the year 2018, Asia Pacific flavor market reached a value of USD 3,400.88 million.

Statistic 5

Natural flavors dominated the market with a share of 59% in 2019.

Statistic 6

The packaged food segment is expected to grow at the highest CAGR of 4.6% from 2018 to 2025 in the flavor industry.

Statistic 7

The demand for fruit flavors and vegetable flavors is rising at the highest CAGR of 5.3%.

Statistic 8

Nearly 49% of consumers say they would try a product containing unconventional flavors.

Statistic 9

The global essential oils market dominated by flavor application is projected to reach $12.45 billion by 2027.

Statistic 10

By 2025, the Beverage Flavoring Systems market is expected to reach USD 5.7 billion.

Statistic 11

The Middle East & African flavor market is anticipated to grow at a CAGR of 3.48% during the forecast period 2020 - 2025.

Statistic 12

The demand for natural flavors was three times higher than artificial flavors in 2020.

Statistic 13

The flavoring syrups and concentrates market was valued at approximately USD 36.23 billion in 2020.

Statistic 14

Liquid flavors accounted for more than 67.5% share based on the product form.

Statistic 15

The confectionery application segment was the largest segment in 2020 and accounted for a market share of 23.20% in the global flavoring agents market.

Statistic 16

41% of US consumers opt for food and drink with natural colors and flavors.

Statistic 17

The clean label trend is driving 6.2% CAGR growth in naturally derived food and drink flavorings by 2024.

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In this post, we explore the latest statistics and market trends in the flavor industry, shedding light on key insights such as the market size, dominant applications, consumer preferences, growth projections, and more. Stay tuned to gain a comprehensive understanding of the dynamic landscape of the global flavors and fragrances market.

Statistic 1

"The global flavors and fragrances market size was estimated at USD 22.37 billion in 2020."

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Statistic 2

"The flavor and fragrance market is projected to reach USD 28.2 billion by 2025."

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Statistic 3

"The beverage application dominated 45.2% of the flavors industry in 2020."

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Statistic 4

"In the year 2018, Asia Pacific flavor market reached a value of USD 3,400.88 million."

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Statistic 5

"Natural flavors dominated the market with a share of 59% in 2019."

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Statistic 6

"The packaged food segment is expected to grow at the highest CAGR of 4.6% from 2018 to 2025 in the flavor industry."

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Statistic 7

"The demand for fruit flavors and vegetable flavors is rising at the highest CAGR of 5.3%."

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Statistic 8

"Nearly 49% of consumers say they would try a product containing unconventional flavors."

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Statistic 9

"The global essential oils market dominated by flavor application is projected to reach $12.45 billion by 2027."

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Statistic 10

"By 2025, the Beverage Flavoring Systems market is expected to reach USD 5.7 billion."

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Statistic 11

"The Middle East & African flavor market is anticipated to grow at a CAGR of 3.48% during the forecast period 2020 - 2025."

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Statistic 12

"The demand for natural flavors was three times higher than artificial flavors in 2020."

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Statistic 13

"The flavoring syrups and concentrates market was valued at approximately USD 36.23 billion in 2020."

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Statistic 14

"Liquid flavors accounted for more than 67.5% share based on the product form."

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Statistic 15

"The confectionery application segment was the largest segment in 2020 and accounted for a market share of 23.20% in the global flavoring agents market."

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Statistic 16

"41% of US consumers opt for food and drink with natural colors and flavors."

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Statistic 17

"The clean label trend is driving 6.2% CAGR growth in naturally derived food and drink flavorings by 2024."

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Interpretation

In conclusion, the flavors and fragrances industry continues to experience significant growth and evolution, driven by various factors such as increasing consumer demand for natural and innovative flavors, particularly in segments like beverages, packaged foods, and confectionery. The market is projected to expand substantially in the coming years, with a shift towards natural flavors and clean label products becoming more prominent. With the rising popularity of unconventional and fruit/vegetable flavors, as well as the anticipated growth in essential oils and beverage flavoring systems, companies in this industry have opportunities to capitalize on these trends and cater to consumer preferences for healthier, more authentic flavor experiences.

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