The U.S. flavors market size is expected to reach USD 4.87 billion by 2025, expanding at a CAGR of 2.2%, according to a new report by Grand View Research, Inc. Increasing consumption of processed & ready-to-eat products has fostered the demand for flavor enhancing additives to offset low food quality and tasteless products.
Increasing
consumer awareness regarding detrimental effects of synthetic chemicals in
artificial food ingredients is expected to promote organic & natural flavor
consumption. Rising consumer disposable income and expanding food &
beverage sector in the U.S are also expected to contribute to natural extracts
demand over the forecast period.
Feed
grains are also being utilized for alternative applications such as bio-fuel
generation, which has diverted food supply to some extent in the U.S. Processed
foods are thus being consumed to a larger extent in order to counterpoise
dwindling fresh food supplies, which has driven flavors consumption to enhance
taste & quality.
Beverages
were the leading application segment for liquid additives with valuation of
over USD 1.39 billion in 2016. Rising demand for these additives in products
such as sports and energy, carbonated and alcoholic drinks to enhance taste and
aroma is expected to drive segment growth.
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Further key
findings from the report suggest:
- U.S. flavor
market size is expected to reach USD 4,868.4 million by 2025, growing at a
CAGR of 2.2% from 2017 to 2025
- Liquid
products are expected to remain the largest segment over the forecast
period owing to high utilization by numerous processed food manufacturers
seeking to lower production costs
- Increasing
demand for natural products and ingredients in food & beverage sector
are anticipated to drive liquid flavor extracts demand. The segment was
estimated at over USD 447 million in 2016 which is projected to grow at
highest CAGR of 3.2% over the forecast period
- Powdered
flavors was the largest category within dry products, owing to high
consumption in beer which utilizes multiple dry malts. These additives are
incorporated to offset the strong aroma & taste of ‘hops’, a key
ingredient in beer production.
- Increasing
consumption of exotic & unique textured products is also driving the
demand for dry herbs & spices. The segment is anticipated to grow at
over 1.7% CAGR over the forecast period.
- Beverages
emerged as the largest application segment in terms of revenue with over
53% volume share in 2016. The segment is also anticipated to emerge as the
fastest growing application with over 2.4% CAGR from 2017 to 2025.
- Major
industry participants include Symrise AG, Frutarom Industries Ltd.,
Givaudan SA and International Flavors & Fragrances Inc. among others
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Grand View Research has
segmented the U.S. flavors market on the basis of product and application:
U.S. Flavor
Product Outlook (Revenue, USD Million, 2014 - 2025)
- Liquid
- Organic Flavor Concentrates
- Flavor extracts
- Artificial flavor liquids
- Dry
- Dry Spices & Herbs
- Powdered Flavors
U.S. Flavor
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Beverages
- Bakery & confectionaries
- Dairy & frozen foods
- Processed foods
- Others (Pet Food, Pharmaceuticals, E-Cigarettes
and Vapor Machines)
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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