Global Food Essence Market – Industry Trends and Forecast to 2031

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Global Food Essence Market – Industry Trends and Forecast to 2031

  • Food & Beverage
  • Upcoming Reports
  • Apr 2024
  • Global
  • 350 Seiten
  • Anzahl der Tabellen: 220
  • Anzahl der Abbildungen: 60

Global Food Essence Market

Marktgröße in Milliarden USD

CAGR :  % Diagram

Diagramm Prognosezeitraum
2024 –2031
Diagramm Marktgröße (Basisjahr)
USD 16.03 Billion
Diagramm Marktgröße (Prognosejahr)
USD 22.80 Billion
Diagramm CAGR
%
Diagramm Wichtige Marktteilnehmer
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Global Food Essence Market, By Source (Vegetable Essence, Fruit Essence), Application (Fruit, Vegetable), Form (Powder, Liquid), Distribution Channel (B2B, B2C), End-User (Food and Beverages, Fragrance Industry, Cosmetics, Pharmaceuticals) – Industry Trends and Forecast to 2031.

Food Essence Market Analysis and Size

The application of flavors in the food industry is essential for product development and consumer satisfaction. Flavors are used to enhance the taste, aroma, and sensory experience of food products across numerous categories. Food essence market play a crucial role in creating signature flavors for various food and beverage items, ranging from bakery goods, confectionery, and beverages to savory dishes and dairy products. Food essences are meticulously formulated to mimic natural flavors or create unique combinations that resonate with consumer preferences. Their versatility extends to functional foods, where flavors are incorporated to improve palatability and promote consumption of health-oriented products.

Global food essence market size was valued at USD 16.03 billion in 2023 and is projected to reach USD 22.80 billion by 2031, with a CAGR of 4.5% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Source (Vegetable Essence), Application (Fruit, Vegetable), Form (Powder, Liquid), Distribution Channel (B2B, B2C), End-User (Food and Beverages, Fragrance Industry, Cosmetics, Pharmaceuticals)

Countries Covered

U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

Market Players Covered

Amrut International. (India), L.liladhar And Co. (India), Synergy Flavors (U.S.), Döhler GmbH (Germany), Lotioncrafter (U.S.), Northwest Naturals. (U.S.), Centritherm(Australia), Ingredion Inc. (U.S.), SEMPIO FOODS COMPANY (South Korea), Kanegrade. (India), Firmenich SA (Switzerland), The Green Labs LLC. (U.S.), Flavor Producers, LLC. (U.S.), citromax(U.S.), Beijing Heronsbill Food Material Co.,Ltd (China), Y&R International (Wuhu) Industrial Limited. (China)

Market Opportunities

  • Enhanced Consumer Engagement Through E-Commerce Activities
  • Escalation of Food Industry Standards Promotes Quality Improvement in Food Products

Market Definition

Food essence refers to concentrated flavoring agents derived from natural sources such as fruits, herbs, spices, or synthetic compounds. These essences are used to impart specific flavors to food and beverages, enhancing their taste and aroma. Often available in liquid form, food essences are utilized in various culinary applications, including baking, confectionery, beverages, and savory dishes, to add depth and character to the final product.

Food Essence Market Dynamics

Drivers

  • Growing Manufacturer Adoption of Food Essence to Meet Consumer Demand for Processed Foods

Processed foods often undergo extensive manufacturing processes that can strip away natural flavors, colors, and nutrients. To compensate for this, food manufacturers rely on food essences to enhance the taste, aroma, and overall sensory appeal of processed products. Consumers seek convenience without compromising on flavor, driving the need for food essences to recreate authentic and appealing taste profiles. This demand extends across various processed food categories, including snacks, ready-to-eat meals, sauces, and packaged goods, driving the growth of the food essence market as manufacturers strive to meet consumer expectations for flavorful and enjoyable products.

  • Increasing Technological Advancements Enhance the Shelf Life of Food Essences

Technological advancements encompass various areas such as flavor extraction, encapsulation, and delivery systems. Improved extraction techniques enable the efficient extraction of flavors from natural sources, preserving their authenticity and quality. Encapsulation technologies enhance the stability and shelf life of food essences, ensuring their longevity and efficacy in food products. Additionally, advancements in delivery systems enable precise control over flavor release, allowing for tailored flavor profiles and enhanced sensory experiences. Technological innovations empower manufacturers to create innovative and high-quality food essences that meet the evolving demands of consumers for authentic, diverse, and exciting flavors.

Opportunities

  • Enhanced Consumer Engagement Through E-Commerce Activities

Digital marketing play a pivotal role in driving the growth of the food essence market by enhancing accessibility, visibility, and consumer engagement. Through online platforms, consumers have greater access to a diverse range of food essence products from various manufacturers and suppliers worldwide. Digital marketing strategies, including social media, email campaigns, and influencer collaborations, enable targeted promotion and branding of food essence products, reaching a wider audience and driving consumer awareness and demand. Moreover, e-commerce platforms facilitate convenient purchasing experiences, enabling consumers to explore and purchase food essence products with ease, thereby expanding market reach and driving sales growth in the competitive food industry landscape.

  • Escalation of Food Industry Standards Promotes Quality Improvement in Food Products

Stringent regulations and quality standards compel manufacturers to utilize high-quality, safe, and compliant flavor ingredients in food production. This emphasis on adherence to standards fosters the adoption of premium food essences known for their consistency, purity, and traceability. Moreover, as consumer awareness regarding food safety and quality increases, there is a growing demand for clean-label and natural flavor solutions, driving the development and use of food essences derived from real fruits, herbs, and botanicals. Consequently, the pursuit of meeting and exceeding industry standards fuels innovation and investment in flavor technologies, enhancing the overall quality and integrity of food products.

Restraints/Challenges

  • Growing Allergen Concerns Limitis the Adoption of Food Essence

With an increasing number of consumers being diagnosed with food allergies and intolerances, there is a heightened awareness and scrutiny regarding the presence of allergens in food products. Manufacturers face the challenge of ensuring that their food essence formulations are free from allergenic substances or clearly labeled to communicate potential allergen risks. This requirement adds complexity to the production process and may limit the availability of certain flavors or ingredients. Moreover, the risk of cross-contamination during manufacturing poses additional challenges, leading to potential liability issues and consumer trust concerns.

  • Challenges Faced by Manufacturers due to Rising Fluctuations in Raw Material Prices

The prices of natural ingredients used in flavor formulations, such as fruits, herbs, and spices, are subject to volatility due to factors such as weather conditions, crop yields, and geopolitical events. These fluctuations can disrupt supply chains and increase production costs for manufacturers, leading to challenges in maintaining competitive pricing and profit margins. Additionally, sudden price spikes may necessitate adjustments in formulation or sourcing strategies, impacting product consistency and availability. Such instability in raw material prices poses risks for manufacturers and may hinder long-term planning and investment in the food essence market.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

  • In 2022, Solvay launched Rhovanil, a natural vanillin flavor, expanding its product range. Available in Delica, Alta, and Sublime variants, Rhovanil offers diverse options for flavor enhancement in various food and beverage applications
  • In 2022, International Taste Solutions launched Vegan Boosts, a line of natural flavor enhancers in liquid and powder forms. Designed specifically for bakery products, these enhancers aim to enhance sensory qualities, catering to the growing demand for plant-based ingredients in the food industry
  • In 2021, Synergy Flavors, Inc. acquired Innova Foods Pty Ltd., a strategic move to broaden its global presence and strengthen its position in the flavor industry. This acquisition aligns with Synergy Flavors' expansion goals and enhances its capability to cater to diverse consumer preferences worldwide
  • In 2021, IFF completed a merger with DuPont’s Nutrition and Biosciences business, a significant step to enrich its product portfolio with natural ingredients. The investment in this merger reinforces IFF's commitment to meeting consumer demands for sustainable and natural products, enhancing its competitiveness in the market

Food Essence Market Scope

The market is segmented on the basis of source, application, form, distribution channel, and end-user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

  • Vegetable Essence
    • Cucumber
    • Tomato
    • Celery
    • Pumpkin
    • Carrot
  • Fruit Essence
    • Watermelon
    •  Black Raspberry
    • Banana
    • Cranberry
    • Cherry
    • Apple
    • Rose
    • Grape

Application

Form

  • Powder
  • Liquid

Distribution Channel

  • B2B
  • B2C
  •  Hypermarkets/ Supermarkets
  •  Convenience Stores
  •  Specialty Stores
  • Online Stores

End-User

  • Food and Beverages
  • Fragrance Industry
  • Cosmetics
  • Pharmaceuticals

Food Essence Market Regional Analysis/Insights

The market is analysed and market size insights and trends are provided by country, source, application, form, distribution channel, and end-user. as referenced above.

The countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the market due to heightened consumer awareness regarding health and wellness. With a growing emphasis on healthy eating habits, consumers in the region seek natural and clean-label ingredients, driving the demand for food essences. The trend towards healthier lifestyles has prompted food manufacturers to incorporate natural flavors and essences into their products to meet consumer preferences. This shift in consumer behavior has propelled North America to the forefront of the food essence market, reflecting the region's focus on health-conscious consumption patterns.

The Asia-Pacific is expected to experience significant growth due to its substantial consumer base. With a growing population and increasing disposable incomes, the region offers immense opportunities for various industries, including food and beverage, consumer goods, and retail. Rapid urbanization and evolving lifestyles further contribute to the demand for diverse products and services, driving growth across sectors. Additionally, advancements in technology and infrastructure facilitate market penetration and distribution, fostering robust economic development throughout the region.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Food Essence Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are

  • Amrut International. (India)
  • L.liladhar And Co. (India)
  • Synergy Flavors (U.S.)
  • Döhler GmbH (Germany)
  • Lotioncrafter (U.S.)
  • Northwest Naturals. (U.S.)
  • Centritherm(Australia)
  • Ingredion Inc. (U.S.)
  • SEMPIO FOODS COMPANY (South Korea)
  • Kanegrade. (India)
  • Firmenich SA (Switzerland)
  • The Green Labs LLC. (U.S.)
  • Flavor Producers, LLC. (U.S.)
  • citromax(U.S.)
  • Beijing Heronsbill Food Material Co.,Ltd (China)
  • Y&R International (Wuhu) Industrial Limited. (China)


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Häufig gestellte Fragen

Increasing Technological Advancements Enhance the Shelf Life of Food Essences and Growing Manufacturer Adoption of Food Essence to Meet Consumer Demand for Processed Foods are the growth drivers of the food essence market.
The major companies in the food essence market are Amrut International. (India), L.liladhar And Co. (India), Synergy Flavors (U.S.), Döhler GmbH (Germany), Lotioncrafter (U.S.), Northwest Naturals. (U.S.), Centritherm(Australia), Ingredion Inc. (U.S.), SEMPIO FOODS COMPANY (South Korea), Kanegrade. (India), Firmenich SA (Switzerland), The Green Labs LLC. (U.S.), Flavor Producers, LLC. (U.S.), citromax(U.S.), Beijing Heronsbill Food Material Co.,Ltd (China), Y&R International (Wuhu) Industrial Limited. (China).
The source, application, form, distribution channel, and end-use are the factors on which the food essence market research is based.
The food essence market size will be worth USD 22.80 billion by 2031.
The food essence market growth rate will be 4.5% by 2031