According to the latest market report published by Persistence Market Research titled “Natural and Organic Flavors Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026”, globally, the revenue generated from the sales of natural and organic flavors is estimated to be valued at US$ 7,236.6 Mn by 2018 end, and is expected to increase at a CAGR of 5.7% during the forecast period (2018–2026).
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Increasing health consciousness among consumers, rapid urbanization, introduction of new flavors with more sensational taste, growing disposable income, and increasing emphasis on uniqueness in taste in processed food and beverages products are some of the key trends in the global natural and organic flavors market.
Global Natural and Organic Flavors Market: Segmental Insights
The global natural and organic flavors market is segmented by flavor, product, source, and application type. North America, Latin America, Europe, Asia Pacific (APAC), and Middle East and Africa (MEA) are the key regions covered in this report.
On the basis of source, fruits and fruits juices remain a key source for natural and organic flavors. The segment is expected to dominate the market, accounting for a share of 41.9% in 2018. The vegetables & vegetable sources segment is estimated to be the second-largest in terms of revenues.
On the basis of flavor type, the natural flavor segment is estimated to hold the highest value share in the global natural and organic flavors market, accounting for 90.9% revenue share in 2018. The segment is expected to maintain its dominance throughout the forecast period.
In terms of volume consumption, Asia Pacific is consider to be the fastest growing market, and is expected to witness a growth rate of 9.2% in 2018. This is mainly attributed to factors such as increasing applications in beverages, confectionaries, and savories end use products during the forecast years 2018-2026.
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Global Natural and Organic Flavors Market: Competitive Landscape
Key participants profiled in the global natural and organic flavors market report include Givaudan S.A., International flavors & Fragrances Inc., Firmenich SA, Symrise AG, Takasago International Corporation, Sensient Technologies Corporation, Kerry Group Plc., Frutarom Industries Ltd., Robertet SA, Archer Daniels Midland Company, Döhler GmbH, Huabao International Holdings Limited, T. Hasegawa Co., Ltd, Koninklijke DSM NV, Axxence Aromatic GmbH, Gold Coast Ingredients, Inc., Zymus International Ltd, Treatt Plc, Blue Specific Flavors, Inc., and Unique Flavors and Fragrances Ltd.