Natural Flavors Market Size – USD 11.47 Billion in 2018, Natural Flavors Market Growth - CAGR of 6.3%

NEW YORK CITY, NEW YORK, UNITED STATES, March 20, 2020 /EINPresswire.com/ -- The Global Natural Flavors Market is forecast to reach USD 20.04 Billion by 2027, according to a new report by Reports and Data. The natural flavors are the high-performance additives used in edible and non-edible end-use applications, derived from natural sources such as flowers, fruits, animals, plants, herbs, spices, and others. Formulas created by those derivatives enhance the flavor and contribute to the nutritional value to the food items as well. The unique formulations are kept top secret by the manufacturing companies and are typically used in the process of numerous product line-ups. The global natural flavors market is projected to drive significantly as the demand for natural flavors in various edible & non-edible applications are being propelled substantially. The continuous expansion of the natural food scent & coloring agents and high demand for new kinds of tastes with enormous innovation in the flavorings agents processing aids are expected to drive the growth for the food flavor market.

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Asia Pacific region is forecasted to grow the fastest with a CAGR of 6.1% in the period 2019 – 2027. North America is expected to hold a significant position in the market due to a vast usage of the natural flavors in the beverage & other food applications. The United States has the highest number of market players, while China has the highest market share worldwide.

Further key findings from the report suggest

• Dairy & beverages application sub-segment is expected to be the fastest-growing segment during the forecast period 2019-2026 with a CAGR of 6.9% due to an increase in the consumption of dairy-based products and natural flavors mixed beverages especially in the emerging nations. This sub-segment also had the highest market share in 2018.
• Natural flavors are utilized in the pharmaceutical industries to include fragrance, color, and tastes of various natural ingredients. Both the orally consumed products and external use medicated products such as syrups, chewable tablets, and suspensions, gums, and spray, among others, require natural flavors in the processing. The medicine sub-segment had a significant market share in 2018.
• It takes considerable time and resources in the research and development of the food & beverage industry to find the perfect flavor that will be widely accepted worldwide and increase the revenue of the company while increasing its customer base. This is very important to adopt an appropriate research method for understanding the preferences of people.
• The manufacturers of foods and beverages are expanding their business to enable the easy availability of their products worldwide. For example, in April 2019, New Age Beverages Corporation, a Colorado-based beverage company, announced its distribution agreement with Hudson News. The objective of this agreement was to expand the brand’s portfolio nationally.
• Europe is growing at a CAGR of 5.7% in the forecast period and is expected to retain a significant position in the market by 2027. Switzerland and France have some of the valuable players in this region.
• North America is forecasted to witness a significant growth in the overall market growing with a CAGR of 6.8% during the forecast period.
• Key participants include International Flavors & Fragrances, Givaudan, Frutarom Industries Ltd., Firmenich SA, Robertet Group, T. Hasegawa Co., Ltd., Takasago International Corporation, Symrise AG, Robertet Group, and MANE, among others.

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For the purpose of this report, Reports and Data have segmented the global Natural Flavors market on the basis of the applications, form factor, type, End-Use, and region:

Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)

• Dairy & Beverages
• Medicine
• Confectionery & Snacks
• Scent & Perfumes
• Others

Form Factor Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)

• Liquid
• Powder

Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)

• Flavoring Tastes
• Flavoring Smell
• Flavoring Colors
• Mixed Flavoring Content

End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)

• Edible
• Non-Edible

Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)

• North America
o U.S
• Europe
o U.K
o France
• Asia Pacific
o China
o India
o Japan
• MEA
• Latin America
o Brazil

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