The food flavors market is evaluated at US$19.165 billion for 2025, growing at a CAGR of 5.88%, reaching a market size of US$25.505 billion by 2030.
Food flavors are ingredients that are added to food and beverages to enhance their taste. There is a high demand for processed food in both developed and developing economies, playing a key role in supplementing global food flavors market growth. Processed food tends to lose its flavors over time, creating the necessity for using flavoring substances to maintain the flavor throughout the product's shelf life. The market for food flavors is expected to grow nominally over the forecast period, owing to people's hectic and changing lifestyles worldwide, particularly in developing economies due to rapid urbanization and industrialization in countries such as India and China.
This has further amplified the demand for convenience foods and beverages, which is anticipated to positively impact the market growth. The growing participation by food and beverage manufacturers in the form of increased investments in R&D for developing and launching new products is also anticipated to create lucrative business growth opportunities for the manufacturers throughout the forecast period.
By type, the artificial flavors segment is anticipated to hold a notable market share, which is supported by the fact that the costs associated with artificial flavors are comparatively lower. Since they offer similar tastes to natural ingredients, it is also a key factor bolstering their usage in food and beverages.
The natural flavors segment is projected to grow at a noteworthy CAGR because consumer preferences toward natural ingredients are increasing in many countries due to the risk associated with the consumption of artificial ingredients. Moreover, the demand for clean-label products is also increasing globally, particularly in developing economies, primarily due to people's increasing purchasing power and awareness of naturally sourced food.
World milk production is projected to grow at 1.7% p.a. to 1020 Mt by 2030 over the next decade, faster than most other main agricultural commodities. This increased expansion in the dairy sector is propelled by the average growth of herds by 1.1% p.a. This yield growth is expected to contribute more to production increase than herd growth. This increased milk production and its related products would amplify the demand for the food flavors used in producing dairy-related packaged foods and beverages.
By geography, the food flavors market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.
The market size of the food processing sector in India is estimated to reach US$1,274 billion in 2027, backed by the changing lifestyle and food habits due to rising disposable income and urbanization. As of June 2024, the Ministry of Food Processing Industries in India approved 41 mega food parks, 399 cold chain projects, and several agro-processing clusters, food processing units under corresponding schemes of PMKSY (Pradhan Mantri Krishi Sinchayee Yojana).
The European region is anticipated to hold a significant market share throughout the forecast period. The key factors supporting the regional market share include the wide consumption of organic foods and drinks in several countries.
The food flavors market market by application is segmented into dairy, bakery and confectionery, convenience food, and others.
By application, the bakery and confectionery segment is expected to hold a significant share of the flavors market, which is attributable to the fact that there are wide applications of flavoring agents in bakery products. Additionally, the consumption of confectionery products is increasing in both developed and developing economies worldwide, significantly bolstering this segment’s growth during the coming five years.
The beverage segment is also anticipated to hold a promising market share throughout the forecast period. The major factor bolstering the share of this segment includes the applications of various flavors in beverage products. The demand for beverages worldwide is increasing at a significant rate. This, in turn, is positively influencing this segment’s growth until the end of the forecast period.
The major food flavors market leaders are Firmenich SA, Kerry Inc., Givaudan, International Flavors & Fragrances, T. Hasegawa Co., Ltd., Takasago International Corporation, Synergy Flavors, and Robertet Group. The key players in the market implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage. For Instance,
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Food Flavors Market Size in 2025 | US$19.165 billion |
| Food Flavors Market Size in 2030 | US$25.505 billion |
| Growth Rate | CAGR of 5.88% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in the Food Flavors Market |
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| Customization Scope | Free report customization with purchase |