The global Beverage Flavoring System market size is expected to be worth around US$ 17.0 billion by 2030, according to a new report by Vision Research Reports.
The global Beverage Flavoring System market size was valued at US$ 7.7 billion in 2020 and is anticipated to grow at a CAGR of 10.3% during forecast period 2021 to 2030.
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Beverage Flavoring System Market (By Ingredients: Flavoring agents, Flavor enhancers, Others; By Beverage Type: Alcoholic, Non-alcoholic; By Flavor Type: Chocolate and browns, Dairy, Fruits & vegetables, Others; By Form: Dry, Liquid; By Origin: Artificial, Natural) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
The increasing demand for both alcoholic and non-alcoholic beverage across the globe especially among the adult population is primarily driving the market growth. The developing economies are majorly supporting the growth through their economic development and growing purchasing power of residents.
Based on ingredients, the flavor enhancers segment is anticipated to experience a CAGR of 10.4% over the forecast period from 2020 to 2030. The flavor enhancers improve the original taste of a flavor without imparting its own flavor. Salt is the primary flavor enhancer but excess consumption may increases the risk of heart disease, as a result, the consumers’ preference is shifting towards the other types of enhancers. Additionally, the rising awareness about the other enhancers such as isopropyl mercaptan, malic acid, disodium guanylate, and beta-alanin is further supporting market growth.
The flavoring agents segment dominated the market for beverage flavoring systems and held the largest revenue share of 91.4% in 2020. These agents are also estimated to maintain their dominance throughout the forecast period. These agents are added to modify, magnify, or complement the taste and aroma of the beverages. Some of the common flavoring agents utilized in the formation of beverages include alcohols, esters, aldehydes, MSG, protein hydrolysates, and ketones.
The non-alcoholic segment dominated the market for beverage flavoring systems and held the largest revenue share of about 85.9% in 2020. The wide range of products under the non-alcoholic segments such as energy drinks, flavored milk, flavored water, mocktails, and juices, among others are contributing to the dominating share of the segment. The increasing varieties of aforementioned product types under non-alcoholic beverages are further supporting the maximum revenue share of the segment in the market for beverage flavoring systems.
The liquid form segment dominated the market for beverage flavoring systems and held the largest revenue share of about 83.7% in 2020. The segment is also projected to maintain its dominance over the forecast period. The ease of processing associated with the liquid flavors is primarily contributing to its dominance in the market for beverage flavoring systems. This easy mixing capability offers increased stability that leads to its preference by the beverage manufacturers.
The natural origin segment dominated the market for beverage flavoring systems and held the largest revenue share of about 67.5% in 2020. The health benefits associated with the natural flavors since they are sourced from naturally available products such as parts of plants or animals is the primary factor contributing to the maximum revenue share. Commonly, these flavors are extracted from varied sources like fruits, leaves, pods, or the roots of plants. Some of the ingredients used to derive natural flavors include orange, mango, rose, coffee, and ginger.
Asia Pacific dominated the market for beverage flavoring systems and accounted for the largest revenue share of 47.9% in 2020. Countries such as China, India, and Indonesia are highly populous. The high population base contributes to the increased demand for packaged and ready-to-drink beverages. Rising urbanization in these countries is further supporting the demand for the increased alcoholic, as well as non-alcoholic beverages
- Sensient Technologies Corporation
- Kerry Group
- International Flavors and Fragrances Inc.
- Firmenich SA
- Takasago International Corporation
- Flavorchem & Orchidia Fragrances
- Tate & Lyle
|Market Size||US$ 17.0 billion by 2030|
|Growth Rate||CAGR of 10.3% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Ingredients, Beverage Type, Flavor Type, Form, Origin|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||ADM; Givaudan; Sensient Technologies Corporation; Kerry Group; International Flavors and Fragrances Inc.; Firmenich SA; Takasago International Corporation; Flavorchem & Orchidia Fragrances; Tate & Lyle; MANE; Döhler; Symrise|
- Flavoring agents
- Flavoring carriers
- Flavor enhancers
- Beverage Type
- Carbonated soft drinks
- Functional Drinks
- Flavor Type
- Chocolate and browns
- Herbs & botanicals
- Fruits & vegetables
- North America
- Asia Pacific
- Central & South America (CSA)
- Middle East & Africa (MEA)
- South Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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