Flavor Systems Market Forecasts to 2028 – Global Analysis By Form (Liquid, Semi-Liquid, Dry), Application (Beverages, Bakery & Confectionery Products, Dairy & Frozen Desserts, Savories & Snacks) and By Geography
According to Stratistics MRC, the Global Flavor Systems Market is accounted for $6.14 billion in 2020 and is expected to reach $10.00 billion by 2028 growing at a CAGR of 6.3% during the forecast period. Factors such as growing food and beverages industry, increasing disposable income, and changing taste preferences of consumers are driving the growth of the market. However, limitation in extracting natural flavors is hampering the growth of the market.
Flavor system is an additive that is used in food and beverages to add taste and aesthetic appeal. Flavors when added in minimal quantities enhance and alter the taste of the food product, maintain the flavor after processing, modify an already existing flavor, and guise an undesirable flavor.
Based on the form, the liquid segment is anticipated to expand at a rapid pace during the forecast period as liquid flavors can be easily mixed together and can achieve a homogeneous distribution of each component in the finished flavor. By geography, Europe is going to have high growth during the forecast period which can be attributed to the growing consumption of bakery & confectionery products.
Some of the key players profiled in the Flavor Systems Market include Kerry Group, Tate & Lyle, International Flavors & Fragrances (IFF), Symrise, Sensient, Mane SA, Givaudan, Firmenich, T. Hasegawa, Robertet, Takasago, and Frutarom.
Estimated Market Size in 2020:
USD 6.14 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 10.00 billion
Tables, Graphs & Figures
Source, Form, Type, Application, and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Nature-Identical Flavors
• Fruits & Vegetables
• Herbs & Botanicals
• Other Types
• Bakery & Confectionery Products
• Dairy & Frozen Desserts
• Savories & Snacks
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Flavor Systems Market is majorly driven by the growing food and beverages industry, increasing disposable income, and changing taste preferences of consumers.
The beverages segment is growing at a highest CAGR owing to the innovations and customization in beverage products.
Europe dominated with a significant market share due to the increasing consumption of bakery & confectionery products.
Asia Pacific market is growing at a highest CAGR owing to the rising disposable income and increasing demand for processed foods.
Key players in Flavor Systems Market include Kerry Group, Tate & Lyle, International Flavors & Fragrances (IFF), Symrise, Sensient, Mane SA, Givaudan, Firmenich, T. Hasegawa, Robertet, Takasago, and Frutarom.
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