The thrives on different factors such as increasing demand for natural and clean-label products (due to adulteration of food and harmful effects of adulterated food on the human body). Artificial flavors are made of harmful chemicals, these chemicals have ill effect on human body, the products should be made considering health benefits and maintaining the taste of the food product. The major factor restraining the food flavor market is lacking stability and higher cost.
Flavors made of natural ingredients are expensive because of their quality and the products used to prepare them. However, this market has opportunities for growth during the forecast period, in terms of new source of raw materials, Greenfield ventures in Asia Pacific and Latin America, and increasing number of color shades and multifunctional flavors, maintaining the taste and quality of the flavors used. Yet, this market still has to deal with challenges related to lack of transparency in patent protection laws.
The food flavor market is segmented by type, application, and region. Segmentation of the market by type includes caramel, carotenoids, anthocyanins, natural extracts, aroma chemicals, and essential oils and other types. These flavors are used for various purposes and in various sectors of the food industry, in beverages such as soft drinks and artificial juices, in bakeries, confectionery, dairy and frozen products, meat products, and savories and snacks, for example instant noodles, soups, salad, condiments, dressings, and sauces and chips. Furthermore, the market is segmented by regions into North America, Europe, Asia Pacific, South America, and Middle Eas& Africa.
Key players in the food flavor market are Archer Daniels Midland Company, Royal DSM N.V., Kerry Group PLC, FMC Corporation, International Flavors & Fragrances Inc, Symrise AG, Sensient Technologies Corporation, Takasago International Corporation, Givaudan SA, and Chr. Hansen Holding A/S.
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