In the world economic growth, the Artificial Flavors industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Artificial Flavors market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2019, SMI analysts believe that in the next few years, Artificial Flavors market size will be further expanded, we expect that by 2024, The market size of the Artificial Flavors will reach XXX million $.
Artificial flavors are chemically synthesized flavors that are used to amplify or modulate the sensory experience associated with the existing qualities of a product. Rapid growth in the retail food sector is expected to propel the growth of the global artificial flavors market over the forecast period. For instance, according to India Brand Equity Foundation, the retail food sector in India is expected to increase from around US$ 70 billion in 2008 to US$ 150 billion by 2025.
Increasing the launch of new beverages is expected to boost the growth of the global artificial flavors market. For instance, in January 2020, The Coca-Cola Company launched Coca-Cola Energy, Coca-Cola Energy Cherry, and their zero-calorie counterparts in the U.S.
Increasing the number of quick-service restaurants (QSRs) and coffee shops are expected to offer lucrative growth opportunities for players in the global artificial flavors market. For instance, the number of McDonald’s restaurants worldwide increased from over 36,000 in 2016 to over 38,600 as of March 2020. Moreover, the number of Starbucks coffee outlets worldwide increased from over 29,000 in 2018 to over 31,000 in 2019.
However, increasing the consumption of organic food and natural flavors is expected to hinder the growth of the global artificial flavors market. For instance, according to the 2019 Organic Industry Survey by the Organic Trade Association, Organic food sales in the U.S. increased 5.9% in 2018 to reach US$ 47.9 billion, and organic food sales made up 5.7% of overall food sales, which rose 2.3% in 2018.
Moreover, the launch of drinks with no artificial flavors is also expected to limit the growth of the market. For instance, in April 2020: Barfresh Food Group, Inc., a manufacturer of frozen, ready-to-blend, and ready-to-drink beverages, launched a ready-to-drink bottled smoothie with no added sugars, no preservatives, artificial flavors or colors.
Key Takeaways:
- Rapid growth in the retail food sector to growth of the global artificial flavors market over the forecast period
- Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance,
- March 2020: Firmenich entered into exclusivity with Ardian, Tikehau Capital and family shareholders to acquire Les Dérivés Résiniques et Terpéniques, producer of renewable ingredients
- September 2019: Givaudan acquired Golden Frog, a Vietnam-based flavor company
- Major players operating in the global artificial flavors market include, Givaudan, Firmenich, IFF, Symrise, Takasago, Sensient Flavors, Mane SA, T. Hasegawa, Frutarom, Robertet SA, WILD, McCormick, Synergy Flavor, and Hodia Flavor
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution, etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume, and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment, etc. cover different segment market size, both volume, and value. It also covers different industries' clients information, which is very important for manufacturers. If you need more information, please contact SMI
Section 1: Definition
Section (2 3): Manufacturer Detail
- Givaudan
- Firmenich
- IFF
- Symrise
- Takasago
- Sensient Flavors
- Mane SA
- T.Hasegawa
- Frutarom
- Robertet SA
- WILD
- McCormick
- Synergy Flavor
- Hodia Flavor
Section 4: Region Segmentation
- North America Country (United States, Canada)
- South America
- Asia Country (China, Japan, India, Korea)
- Europe Country (Germany, UK, France, Italy)
- Other Country (Middle East, Africa, GCC)
Section (5 6 7): Segmentation
Product Type Segmentation:
- Petroleum Source
- Coal Source
- Agroforestry Products Source
Industry Segmentation:
- Home
- Restaurant
- Food manufacture
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2019-2024)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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