Food Flavors Market to Record CAGR of 5% Over 2025-2032; Rising Preference for Floral and Botanical Flavors to Fuel Market Growth

The food flavors market size was valued at USD 16.06 billion in 2024 and is predicted to reach USD 16.70 billion in 2025. The market is anticipated to touch USD 23.50 billion by 2032, recording a CAGR of 5% over 2025-2032.

Fortune Business Insights™ presents this information in its latest report titled “Food Flavors Market Size, Share & Industry Analysis By Type (Natural and Synthetic), By Form (Liquid & Gel and Dry), By Flavor (Chocolate, Fruit & Nut, Vanilla, Spices & Savory, and Others), By Application (Bakery, Beverages, Confectionery, Dairy, Convenience Foods, Snacks, and Others), and Regional Forecast, 2025-2032”.

Manufacturers in the food flavors industry produce, distribute, and sell a wide range of products that play a key role in enhancing or changing the flavor of foods and drinks. The industry includes several products, such as artificial and natural flavors that are derived from different sources, such as vegetables, herbs, fruits, and spices. The growing demand for exotic flavors among customers across the world will fuel the demand for food flavors.

The COVID-19 pandemic had a negative impact on the food flavors market growth as the market witnessed severe supply chain disruptions, which led to a major shortage of key raw materials. This scenario caused a major decline in the production and distribution of food flavors. Moreover, lockdowns imposed by governments across the world led to business closures, which stopped the manufacturing and sales of these products, thereby slowing the market’s growth.

Rising Preference for Floral and Botanical Flavors to Fuel Market Growth

Floral and fruity flavors have gained immense popularity in recent years due to their unique yet appealing flavor profile. Many of the fruity and floral flavors are popularly used in baked goods to give them a natural taste and aroma. Some of the key examples of botanical and floral flavors used in bakery products include honey-lavender gelato, lemon-lavender cookies, and blackberry-rose marshmallows. The willingness of customers to spend more on foods and drinks with natural flavorings will fuel the demand for food flavors.

However, there are several stringent rules and regulations that have been imposed by the regulatory bodies to improve the overall quality and flavor of the food items. Adhering to these regulations can restrain the market’s growth as they can cause delays in the development and launch of new food flavors.

Givaudan Taste & Wellbeing Unveiled New Production Plant in Indonesia to Expand Business in Southeast Asia

Givaudan Taste & Wellbeing announced that it had established a new manufacturing factory in Cikarang, Indonesia. This move was aimed at helping the company increase its presence in Southeast Asia. The new facility is expected to produce a wide range of products, which include sweet, savory, and snack powders. The production plant will also manufacture infant nutrition solutions. Givaudan revealed that it had invested USD 58.31 million in the plant, which will cover 24,000 square meters within a total land area of 50,000 square meters, thereby enabling future expansions.

Key Market Players to Engage in Mergers & Acquisitions to Launch New Products

The market is moderately consolidated as a small number of major companies are dominating the market, whereas the smaller firms are operating in certain niche segments. These market players are focusing on various strategies, such as mergers, partnerships, and acquisitions to introduce novel food flavors.

Notable Industry Development:

• September 2024: Air Wick, a brand that operates under Reckitt Benckiser, announced the launch of its new portable and cordless Essential Mist Diffuser. The company revealed that the new product provides users with a multi-sensorial experience by releasing scents that are infused with natural essential oils.

List of the Companies Profiled in the Report:

• Givaudan SA (Switzerland)
• International Flavors and Fragrances (U.S.)
• Symrise AG (Germany)
• Sensient Technologies Corp (U.S.)
• Firmenich (Switzerland)  
• Archer-Daniels-Midland Co. (U.S.)
• Kerry Group Plc (Ireland)
• Corbion NV (Netherlands)
• Koninklijke DSM NV (Netherlands)
• BASF SE (Germany)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/food-flavors-market-102745

Further Report Findings

• Asia Pacific held the largest global food flavors market share in 2023 due to the increasing consumption of processed foods and drinks. Moreover, the growing population of working professionals has further increased the consumption of ready-to-eat and convenience foods. This will fuel the demand for authentic food flavors to enhance the overall taste of these products.
• North America also might capture the second-biggest market share due to the growing population of migrants, which has paved the way for diverse ethnic cuisines. This will also boost the demand for food flavors.
• Based on form, the liquid segment might capture the biggest market share as food flavors in liquid form are easy to mix and distribute, which makes them suitable for several food applications.

Table of Segmentation