NEWARK, Del, June 22, 2023 (GLOBE NEWSWIRE) -- According to a recent study published by Future Market Insights, around US$ 3.99 billion was the estimated size of the global encapsulated flavors and fragrances market in 2022. The market growth may be attributed to the increase in demand for encapsulated flavors and fragrances within the food & beverage, cleaning goods, and other end-use industries. By 2023, it is expected to have generated US$ 7.1 billion, with a CAGR of 5.5% from 2023 to 2033.
Fruit and vegetable components may be used to generate flavors without sacrificing their nutritional content, giving them a more organic appearance than their chemically manufactured counterparts. Increased interest from processors, retailers, and their private-label brands has caused encapsulated flavor and fragrance providers to have smaller profit margins. There is a need for low-cost flavors within the food and beverage business, even if the market for encapsulated flavors and perfumes is expanding as a result of the trend toward high-quality ingredients.
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The market has become more well-known in recent years as a result of the rising demand for natural and authentic flavors and fragrances in an assortment of end-use applications, including laundry detergents, home care products, and the food and beverage sector, including beverages, instant desserts (frozen food), and household care products. Many different meals and drinks contain flavoring agents. According to an FMI study, the market for beverage flavorings is predicted to develop strongly over the next ten years. Sales of encapsulated flavors and fragrances will increase along with beverage flavoring sales as a result of the soaring demand for packaged along with sports & energy beverages.
Key Takeaways from this Market Study:
- Over the five-year period from 2018 to 2022, the market for encapsulated flavors and fragrances expanded at a CAGR of 4.2%.
- The most popular product category in 2022 will be flavor mixes of encapsulated tastes and scents, which will have a commanding share of around 57.1%.
- The most popular manufacturing technique is mechanical, with a dominating share of over 78.7% in 2022.
- In 2022, the market for encapsulated flavors and fragrances saw a maximum share of about 68.8% from the manufacturing of food and beverages.
- In 2033, it is expected that the United States would have more than 88.5% of the market in North America.
- In 2023, it is anticipated that the market for encapsulated tastes and fragrances in Germany will be worth US$ 475.9 million.
“The global market for encapsulated tastes is expected to develop as a result of rising health consciousness and the popularity of ethnic cuisine and beverages, which integrate the demand for spicier, hotter, and more dramatic flavors,” - remarks an analyst at FMI.
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Competitive Landscape:
Manufacturers in the global market for encapsulated flavors and fragrances are concentrating on enhancing their online presence to reach a larger audience of customers. They spend money on research and development to find solutions that are affordable.
Prominent players in this market are:
- Cargill Inc.
- Firmenich Incorporated
- Givaudan
- Ingredion Incorporated
- International Flavors and Fragrances (IFF)
- Kerry Group
- Royal DSM
- Sensient Technologies
- Symrise AG
- Tate & Lyle PLC
- Others
Some key developments of the leading companies in this market are:
- EnVantec microencapsulation is employed by AIDP Inc., a firm that manufactures food and beverages. Non-GMO as well as vegetarian starch-based technology is used in this process. EnVantec is a clean label solution with outstanding stability over a 2-3 year period since the designed composition is devoid of preservatives as well as antioxidants.
- Symrise inaugurated its largest single investment in May 2020 and also invested US$23.64 million in the development of a new flavoring and fragrance production facility in Nantong, China. Symrise is clearly indicating future expansion in the area with this investment.
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global encapsulated flavors and fragrances market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the encapsulated flavors and fragrances market, the market is segmented on the basis of encapsulated flavors and fragrances by product type (flavor blends, fragrance blends, essential oils & natural extracts), technology (mechanical, chemical), wall material (maltodextrin, corn syrup solid, modified cellulose), end-use (consumer goods, food, and beverage) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segmentation:
By Product Type:
- Flavor Blends
- Fragrance Blends
- Essential Oils & Natural Extracts
- Aroma Chemicals
By Technology:
- Mechanical
- Emulsification
- Spray Drying
- Spray-Chilling/Cooling
- Fluidized-Bed Coating
- Centrifugal Extrusion
- Chemical
- Coacervation
- Freeze Drying
- Supercritical Fluid Technique
- Nano Precipitation
- Others
By Wall Material:
- Maltodextrin (DE<20)
- Corn syrup solid (DE>20)
- Modified cellulose
- Gum Arabic
- Modified starch
- Gelatin
- Cyclodextrin
- Lecithin
- Whey protein
- Hydrogenated fat
- Others
By End-Use:
- Consumer Goods
- Laundry Detergents
- Fabric Softeners and Scent Boosters
- Household Care
- Deodorants
- Oral Care
- Skin Cleansing & Care
- Hair Care (Shampoo & Conditioner)
- Food and Beverage
- Chewing gum
- Baked Foods
- Confectionery
- Dairy Products
- Instant Desserts (Frozen Food)
- Food Flavors (Snack Food, Cereal, Oatmeal, etc.)
- Beverage & Instant Drinks & Tea
- Others
By Encapsulated Form:
- Powder
- Paste
- Granules
By Process:
- Micro-encapsulation
- Nano-encapsulation
- Hybrid-encapsulation
- Macro-encapsulation
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-2745
About the Food and Beverage Division at Future Market Insights (FMI):
The food and beverage team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
Flavors and Fragrances Market Size: The flavors and fragrances market is anticipated to expand its roots at an average CAGR of 4.67% during the forecast period. The market is likely to hold a share of US$ 28.94 billion in 2023, while it is anticipated to cross a value of US$ 45.68 billion by 2033.
Flavors for Pharmaceutical & Healthcare Applications Market Share: The flavors for pharmaceutical and healthcare applications market is likely to be worth more than US$ 1.2 Billion in 2023 and is estimated to expand at a CAGR of 5.5% from 2023 to 2033 due to the increasing incidence of medical problems worldwide.
Natural Flavors Market Trends: A 6.6% compound annual growth rate (CAGR) is projected for the global natural flavors market from 2022 to 2032, with 2022 revenues of US$ 6400 Million and 2032 revenues of US$ 12070.20 Million.
Citrus Flavors Market Growth: Research from Future Market Insights predicts that the global citrus flavors market is expected to expand at a CAGR of 4.9% over the forecast period. By 2032, the market value is anticipated to reach US$ 19.4 billion.
Feed Flavors Market Forecast: The Feed Flavor market is expected to grow at a CAGR of 5.1%. The market value projected to increase is from USD 2,912.9 Million in 2022 to USD 4,790.2 Million by 2032.
Dairy Flavors Market Types: The global dairy flavors market is poised to accumulate a market value of US$ 20 billion by the end of 2023, and will eventually reach US$ 48 billion in 2033, accelerating at a CAGR of 9.1%.
Food Flavors Market Analysis: The global food flavors market size is expected to increase at a CAGR of about 4.9% between 2023 to 2033, taking the total market valuation to US$ 17,181 million by 2033. In 2023, total food flavor sales worldwide are forecast to total revenue of US$ 10,608 million.
Chocolate Flavors Market Outlook: The global chocolate flavors market is projected to proliferate exhibiting a CAGR of 4.7% from 2023 to 2033. The market is estimated to be valued at US$ 411.58 million in 2023 and is projected to reach US$ 651.50 million by 2033.
Chocolate Flavoring Compounds Market Overview: The global Chocolate Flavoring Compounds market is expected to reach a market valuation of USD 35,837.72 Million by the year 2023, accelerating with a CAGR of 5.0% by 2023 to 2033.
Flavors and Fragrances Market Demand: The flavors and fragrances market is anticipated to expand its roots at an average CAGR of 4.67% during the forecast period. The market is likely to hold a share of US$ 28.94 billion in 2023, while it is anticipated to cross a value of US$ 45.68 billion by 2033.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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