Dublin, Oct. 08, 2024 (GLOBE NEWSWIRE) -- The "Liquid Flavors Market Size, Share & Trends Analysis Report By Product (Organic Flavor Concentrates, Artificial Flavor Liquids, Flavor Extracts), By Application (Beverages, Bakery & Confectionaries), By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global liquid flavors market is projected to witness significant growth, with expectations to exceed USD 14.29 billion by the year 2030. The market is estimated to flourish at a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2024 to 2030. The expansion is primarily attributed to the robust development of major end-use industries, notably beverages and processed foods.
Consumer Preferences Shifting Towards Organic and Natural Options
Amid growing health consciousness and worries concerning the adverse effects of synthetic additives, consumers are increasingly inclined towards organic and natural liquid flavors. This demand shift is elevating the provision of organic flavor concentrates, which align with evolving preferences for healthier and safer food ingredients.
Regional Market Insights
Within the global marketplace, North America has emerged as a dominant region. The market's growth in this region is propelled by a heightened demand for diverse flavors across the bakery, food, and beverage sectors. In addition, rapidly changing consumer lifestyles and a rise in disposable income in emerging countries such as China, India, Vietnam, and Indonesia are bolstering the overall market development.
Segmentation and Trend Analysis
Artificial flavor liquids witnessed a prominent market share in 2023, capturing 42.5% of the market. These flavors emulate a variety of tastes to meet consumer demand and play an integral role in innovating new products. Furthermore, the versatility and reliability of artificial flavors in enhancing the sensory appeal of a variety of products remain appealing to food manufacturers. Simultaneously, beverages have captured the largest revenue share within the application sector, signaling the enduring preference for flavor-infused beverages that offer an enhanced mood and wellness experience to consumers.
Market Prospects and Strategic Implications
This upward market trend indicates promising potential for industry stakeholders. It suggests opportunities for manufacturers to innovate and diversify flavor offerings, particularly in the natural segment, to cater to the health-conscious consumer base. Overall, the liquid flavors market is evolving, shaped by consumer preferences, product innovation, and regional growth opportunities. It stands as a significant component of the food and beverage industry that reverberates with shifting consumer trends and market dynamics.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $11.46 Billion |
| Forecasted Market Value (USD) by 2030 | $14.29 Billion |
| Compound Annual Growth Rate | 3.1% |
| Regions Covered | Global |
Companies Featured
- Givaudan
- International Flavors & Fragrances Inc.
- Gold Coast Ingredients
- Nature's Flavors, Inc.
- Takasago International Corporation
- McCormick & Company, Inc.
- Kerry Group plc.
- Sensient Technologies Corporation
- Firmenich SA.
For more information about this report visit https://www.researchandmarkets.com/r/le9vm3
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