Europe Food Flavor Market Outlook 2031
The Europe food flavor market size was USD 3.90 Billion in 2022 and is projected to reach USD 5.85 Billion by 2031 expand at a CAGR of 4.6% during the forecast period, 2023-2031. The growth of the market is attributed to increasing demand for ready-to-eat food products and fast foods.
The food flavoring industry is highly dependent on the easy availability of the raw materials. The industry players have set up production bases in the local market to easily get access to the same. This step has intensified the competition amongst the players in the local market. Globalization and modernization have further increased the requirement of flavors and food processing facilities.
Europe Food Flavor Market Drivers, Restraints, Trends, and Opportunities
- Increasing food demand owing to rising population is expected to propel the market growth.
- Growing consumption of low fat, low salt, and low carbohydrate food products is one of the key drivers of the growth of the market during the forecast period.
- The COVID-19 pandemic disrupted the supply chain owing to closedown of manufacturing facilities across the globe. However, the market is anticipated to recover soon in Europe.
- Rising demand for flavors that are free of synthetic additives in the Europe-based countries. Moreover, increasing requirement of clean label or green food products is expected to stimulate the growth of the market
Scope of The Europe Food Flavor Market Report
The report on the Europe food flavor market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Food Flavor Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Natural Flavor, Synthetic Flavor, and Nature Identical Flavoring), Applications (Dairy, Bakery, Confectionery, Snacks and Savories, Beverages, and Others)
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Regional Scope
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UK, Germany, France, Russia, Italy, Spain, and Rest of Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Givaudan, Kerry Group plc, European Flavours and Fragrances, BASF, and Firmenich
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Europe Food Flavor Market Segment Insights
Natural flavor segment to account a major market share
Based on types, the market is divided as natural flavor, synthetic flavor, and nature identical flavoring. The natural flavor segment is projected to account for a large market share during the forecast period. Rising trend of naturally sourced ingredients is expected to propel the segment growth. Germany, France, and Spain are one of the major markets for the natural food flavor products
Food and beverage companies have been forced to remove artificial flavors and additives from their product lines. The natural flavor segment has affected the global flavor market; however, producers have responded with high innovation and investments in R&D activities. Rising consumer concerns regarding the usage of food additives and preservatives have led to the demand for natural flavors across the region.
Bakery segment to dominate the market
In terms of applications, the market is segregated as dairy, bakery, confectionery, snacks and savories, beverages, and others. The bakery segment is anticipated to dominate the market during the forecast period. The segment growth is attributed to the increasing number of bakeries in the region. Moreover, rising number of home bakers due to the COVID-19 pandemic has boosted the segment growth. On the other hand, the snacks and savories segment is expected to expand at a robust CAGR in the projected timeline.
The market in Spain is projected to exhibit a high CAGR
On the basis of geographies, the market is categorized as UK, Germany, France, Russia, Italy, Spain, and Rest of Europe. The market in Spain is projected to expand at a high CAGR during the forecast period. Spain is the sixth-highest food and drink exporter in Europe and comes in top 10 list globally. In Spain, natural food flavors derived from spices and herbs are in high demand, which is expected to continue in the projected timeline.
Consumers in Spain are seeking healthier food ingredients and natural food flavors, which is anticipated to drive the market growth in the region.
Segments
The Europe food flavor market has been segmented on the basis of
Types
- Natural Flavor
- Synthetic Flavor
- Nature Identical Flavoring
Application
- Dairy
- Bakery
- Confectionery
- Snack and Savories
- Beverages
- Others
Geographies
- UK
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
Key players
- Givaudan
- Kerry Group plc
- European Flavours and Fragrances
- BASF
- Firmenich
Competitive Landscape
Some of the key players in the market are Givaudan, Kerry Group plc, European Flavours and Fragrances, BASF, Firmenich.
Major companies are adopting strategies, such as introducing clean labels and organic flavor ranges and acquiring and partnering with local players to increase their market penetration in the untapped markets.