Western Europe Food Flavors Market Size By Origin (Synthetic, Natural), By Type (Fruits and Nuts, Chocolate), By Application (Savory and snacks, Dairy and frozen products), And Forecast
Report ID: 369770|No. of Pages: 202
Western Europe Food Flavors Market Size By Origin (Synthetic, Natural), By Type (Fruits and Nuts, Chocolate), By Application (Savory and snacks, Dairy and frozen products), And Forecast
Western Europe Food Flavors Market Size And Forecast
Western Europe Food Flavors Market size was valued at USD 2,512.10 Million in 2023 and is projected to reach USD 3,399.36 Million by 2030, growing at a CAGR of 4.69% from 2024 to 2030.
A growing population, changing consumer preferences, and an increase in the need for packaged and processed foods are all predicted to fuel the global Food Flavors Market’s growth. The Western Europe Food Flavors Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Western Europe Food Flavors Market Market Definition
Flavor includes much more than just how something tastes. it is the whole range of feelings that a person feels while consuming food or liquids. The chemical senses of taste and smell have a major role in flavor, which is the sensory impression of food or another product. As a result, flavors—natural or synthetic—that affect these senses could change how food tastes. Typically, flavorists create the flavorings utilized in food products that are manufactured commercially. These days, tastes are added to the majority of products. They can be used to add taste to foods and drinks that are already naturally flavorful or to develop new flavors.
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Western Europe Food Flavors Market Overview
Flavorings are ingredients added to food in very small amounts to impart a particular flavor to a product (such as yogurt, boiled sweets, or soft drinks) or to compensate for the flavor lost during processing. The food and beverage sector needs flavors for several reasons, such as developing new products, introducing old items, and altering the taste of existing products. A growing population, changing consumer preferences, and an increase in the need for packaged and processed foods are all predicted to fuel the global Food Flavors Market’s growth. The increasing demand for processed foods, frozen meals, snacks, and ready-to-eat and drink foods is one of the main factors propelling the expansion of the food flavor industry.
The demand for processed and packaged foods is rising in both developed and emerging regions of the world due to factors such as an increase in the middle-class and urban population, the number of working women, and an increase in disposable income. Food processing and packaging solutions are becoming more and more necessary as a result. Food additives are therefore frequently employed in convenience and processed foods to maintain the food’s freshness and flavor. The increasing use of compounded tastes in food, the popularity of unusual flavors, and the introduction of new products with distinctive and exotic flavors are all contributing to the rise in demand for these flavors. Concerns about the long-term effects of artificial substances and food additives on one’s health are growing among people worldwide.
However, consumers choose components that support a healthy lifestyle and are derived from plants or products created from plants. The industry is expanding as a result of the rising production of natural flavors since consumers prefer to purchase products that are properly labeled and free of harsh chemicals. Government regulations and bans on the use of synthetic or artificial food additives, such as flavors, have raised consumer awareness of the harmful effects these compounds can have on their health. For instance, ingesting these synthetic substances may result in hyperkinesia, rashes on the skin, migraines, difficulty falling asleep, asthma, and digestive issues. Customers are gravitating toward natural flavors as a result of these health concerns.
Western Europe Food Flavors Market Segmentation Analysis
The Western Europe Food Flavors Market is segmented on the basis of Origin, Type, and Application.
Western Europe Food Flavors Market, By Origin
- Synthetic
- Natural
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Based on Origin, the market is split into Synthetic and Natural. Synthetic accounted for the largest market share of 62.18% in 2022, with a market value of USD 1,528.00 Million and is projected to grow at a CAGR of 3.41% during the forecast period. Natural was the second-largest market in 2022, valued at USD 929.54 Million in 2022; it is projected to grow at the highest CAGR of 6.53%.
Western Europe Food Flavors Market, By Type
- Fruits and Nuts
- Chocolate
- Vanilla
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Based on Type, the market is split into Fruits and Nuts, Chocolate, and Vanilla. Fruits And Nuts accounted for the largest market share of 41.19% in 2022, with a market value of USD 1,012.23 Million and is projected to grow at the highest CAGR of 5.33% during the forecast period. Vanilla was the second-largest market in 2022, valued at USD 785.40 Million in 2022; it is projected to grow at a CAGR of 4.76%.
Western Europe Food Flavors Market, By Application
- Savory and snacks
- Aairy and frozen products
- Beverages
- Bakery and confectionery
Based on Application, the market is divided into Savory and snacks, Dairy and frozen products, Beverages, and Bakery and confectionery.
Key Players
The “Western Europe Food Flavors Market” study report will provide valuable insight with an emphasis on the market. The major players in the market include BASF SE, International Flavors & Fragrances Inc (DuPont), Symrise, Firmenich SA, Givaudan SA, Takasago International Corporation, Kerry Group PLC, Sensient Technologies Corporation, European Flavors & Fragrances Inc and Treatt.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Key Developments
- May 2023: Firmenich SA has completed its merger with DSM, forming DSM-Firmenich AG, the leading innovation partner in nutrition, health, and beauty.
- October 2023: The FoodTech Hub Latam, Givaudan, Bühler, Cargill, ITAL, and the Tropical Food Innovation Lab have opened in Brazil.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2030 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Million) |
| Key Companies Profiled | BASF SE, International Flavors & Fragrances Inc (DuPont), Symrise, Firmenich SA, Givaudan SA, Takasago International Corporation, Kerry Group PLC. |
| Segments Covered |
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| Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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Data Collection Matrix
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Industry Analysis Matrix
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