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Redding, California - October 16, 2024

Natural Flavors Market to Reach $12.05 Billion by 2031

Natural Flavors Market Size, Share, Forecast, & Trends Analysis by Type (Essential Oils, Extracts, Aroma Chemicals), Source (Fruits & Nuts, Dairy, Vegetables), Technology (Extraction, Fermentation), Form (Liquid, Dry), Application - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Natural Flavors Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the natural flavors market is expected to reach $12.05 billion by 2031, at a CAGR of 7.2% from 2024 to 2031.

The natural flavors market is experiencing growth driven by the rising demand for clean labels and natural products, increased awareness of health and wellness, and robust expansion in the food and beverage industry. However, the high cost of natural flavors constrains market growth.

Additionally, emerging economies in Asia, Latin America, and the Middle East & Africa and the incorporation of flavors in functional foods, present significant opportunities for market participants. However, the market also faces considerable challenges related to compliance with quality and regulatory standards. Furthermore, a rising preference for natural ingredients and the adoption of advanced extraction techniques are prominent trends shaping the natural flavors market.

Key Players:

The natural flavors market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the natural flavors market are International Flavors & Fragrances Inc. (U.S.), DSM-Firmenich AG (Switzerland), Givaudan SA (Switzerland), Symrise AG (Germany), Sensient Technologies Corporation (U.S.), Corbion N.V. (Netherlands), Tate & Lyle PLC (U.K.), Archer-Daniels-Midland Company (U.S.), Kerry Group plc (Ireland), Takasago International Corporation (Japan), Robertet Group (France), Huabao International Holdings Limited (Hong Kong), MANE Group (France), Döhler GmbH (Germany), and Axxence Aromatic GmbH (Germany).

The natural flavors market is segmented based on type, source, technology, form, and application. The report also evaluates industry competitors and analyzes the natural flavors market at the regional and country levels.

Among the types studied in this report, the essential oils segment is anticipated to hold the dominant position, with a share of 69.8% of the market in 2024. The substantial market share of this segment is attributed to the versatile application of these products as aromatic and flavoring agents across various sectors, including food and beverage, healthcare, and wellness industries. Furthermore, essential oils have experienced robust demand as a key raw material in the personal care market, driven by their recognized anti-cancer, anti-depression, antioxidant, and weight loss benefits.

Among the sources studied in this report, the fruits & nuts segment is anticipated to hold the dominant position, with a large share of the natural flavors market in 2024. The substantial market share of this segment is driven by the growing demand for plant-based and functional foods, which has intensified the use of natural flavors derived from fruits and nuts. Fruits deliver refreshing, fruity notes that attract consumers seeking healthier options, while nuts provide rich, earthy flavors that enhance indulgent and wholesome product formulations.

Among the technologies studied in this report, the extraction segment is anticipated to hold the dominant position, with a large share of the natural flavors market in 2024. The substantial market share of this segment is attributed to its benefits, including enhanced extraction yields, reduced extraction times, lower operational costs, efficient heating, and expedited energy transfer.

Among the forms studied in this report, the liquid segment is anticipated to hold the dominant position, with a large share of the natural flavors market in 2024. The substantial market share of this segment can be attributed to its benefits, including improved viscosity, increased product stability, enhanced mouthfeel, and superior texture and visual appeal.

Among the applications studied in this report, the food segment is anticipated to hold the dominant position, with a large share of the natural flavors market in 2024. The substantial market share of this segment is primarily driven by the rising demand for processed foods, a growing consumer preference for natural flavors over synthetic alternatives due to health considerations, continuous innovations in food products, and an increasing popularity of organic and plant-based options.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa).

Geographic Reviews

Asia-Pacific is anticipated to hold the dominant position, with a share of 34.9% of the market in 2024, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific's natural flavors market is estimated to be worth USD 2,590.2 million in 2024. The significant share of this regional market is attributed to several factors, including a growing consumer preference for natural ingredients, strong demand for herbal and plant-based beverages, increasing health concerns regarding synthetic flavors, and a rising demand for clean-label products.

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Key Questions Answered in the Report-

What is the value of revenue generated by the sale of natural flavors?
At what rate is the global demand for natural flavors projected to grow for the next five to seven years?
What is the historical market size and growth rate for the natural flavors market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which type, source, technology, form, and application segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the natural flavors market?
Who are the major players in the natural flavors market? What are their specific product offerings in this market?
What recent developments have taken place in the natural flavors market? What impact have these strategic developments created on the market?

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Redding, California - October 16, 2024

Natural Flavors Market to Reach $12.05 Billion by 2031

Natural Flavors Market Size, Share, Forecast, & Trends Analysis by Type (Essential Oils, Extracts, Aroma Chemicals), Source (Fruits & Nuts, Dairy, Vegetables), Technology (Extraction, Fermentation), Form (Liquid, Dry), Application - Global Forecast to 2031

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