Beverage Flavoring Systems Market: Current Analysis and Forecast (2022-2028)

Beverage Flavoring Systems Market: Current Analysis and Forecast (2022-2028)

Global Beverage Flavoring Systems Market is expected to grow at a significant rate of around 6% during the forecast period. The increased per capita spending of consumers on food worldwide has inclined them towards healthy, organic, and natural beverages which is contributing to the growth of the Beverage Flavoring Systems market. For instance, in 2019, Japan has the highest per capita spending on food that is USD 4,417.5 per person followed by Australia, Canada, and France with per-person spending of USD 3,003.6, USD 2986.9, and USD 2983.4, respectively. This has been an increasing need for healthy beverages from the spots persons and athletes due to which the demand for beverage flavoring systems is also uplifting.

Also, a rise in the café, hotels, and restaurants across in Asia pacific region coupled with the surging awareness about the health benefits of organic beverages is leading to the growth in the beverage flavoring systems market. Moreover, Flavor manufacturers are adopting new technologies particularly to manufacture natural and synthetic flavors for better stability and efficient flavor production. The extraction of flavors from source ingredients is a complex procedure. Hence, manufacturers are adopting various advanced methods such as biotechnology, encapsulation, and emulsion to increase the effectiveness of the flavors.

ADM, Givaudan, Sensient Technologies Corporation, Kerry Group, International Flavors and Fragrances Inc., Firmenich SA, Takasago International Corporation, Flavorchem & Orchidia Fragrances, Tate & Lyle Plc, Döhler, etc., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst beverage type, non-alcoholic category to witness higher CAGR during the forecast period”

Based on the Type, the market is segmented into alcoholic and non-alcoholic. The non-alcoholic segment grabbed the major market share and dominated the market in 2020. Sugging awareness about the health benefits associated with non-alcoholic beverages, especially among the millenniums is contributing to the growth of the segment. Furthermore, the increasing number of health freaks across the globe supports the demand for energy drinks and sports drinks is acting as a growth catalyst to this segment. Additionally, the increasing varieties of non-alcoholic beverages such as energy drinks, flavored milk, flavored water, mocktails, and juices, etc., are further supporting the maximum revenue share of the segment in the market for beverage flavoring systems.
"Amongst form, liquid category to witness higher CAGR during the forecast period”

Based on form, the market is segmented into dry and liquid. The liquid segment grabbed the major market share and dominated the market in 2020. The segment is also projected to maintain its dominance over the forecast period. The ease of processing associated with the liquid flavors is primarily contributing to its dominance in the market for beverage flavoring systems. This easy mixing capability offers increased stability that leads to its preference by beverage manufacturers.
"Amongst ingredients type, flavoring agents to hold a significant share in the market in 2020”

On the basis of ingredients type, the market is categorized into Flavoring agents, Flavoring carriers, Flavor enhancers, and Others. Among these, the flavoring agents segment grabbed the major market share and dominated the market in 2020. Flavoring agents are added to modify, magnify, or complement the taste and aroma of the beverages. The growing experimentation in beverages to offer variety to consumers is contributing to the growth of this segment. Some of the common flavoring agents utilized in the formation of beverages include alcohols, esters, aldehydes, MSG, protein hydrolysates, and ketones.
"Amongst origin, natural category to witness higher CAGR during the forecast period”

On the basis of origin, the market is categorized as Artificial, and Natural. The natural origin segment captured the major market share. The natural-origin flavors are safer for human consumption as compared to their chemical counterparts. Chemically synthesized flavoring ingredients often result in health hazards such as allergies or chronic diseases such as cancers. Additionally, natural-origin ingredients are also eco-friendly because they don’t contribute to severe environmental pollution as compared to artificial flavors while production or disposal. As a result, beverage manufacturers’ focus is inclining towards the use of naturally derived ingredients also owing to the surging consumer demand for environment-friendly products.
"Amongst flavor type, flavoring agents to hold a significant share in the market in 2020”

On the basis of flavor type, the market is segmented into chocolate and browns, dairy, herbs & botanicals, fruits & vegetables, and others. The chocolate and herbs segment grabbed a considerable market share in 2020. Growing demand for cocoa products especially among children and young, millenniums is adding pace to the market growth. However, the herbs & botanicals segment would grow at a robust pace owing to the growing demand for healthy beverages.
"Asia Pacific to hold a significant share in the market”

In 2020, Asia Pacific held a significant share of the global Beverage Flavoring Systems market. A rise in the café, hotels, and restaurants across the region coupled and adoption of western culture is leading to the growing demand for the Beverage Flavoring Systems market. Moreover, the growth of the travel and tourism industry and the rising attractiveness of Quick Service Restaurants (QSRs) among millennials. As per Statista, the number of food service establishments worldwide varied greatly by region in 2020. Asia-Pacific had the most establishments at over 17 million. In comparison, the region with the second highest number of food service establishments was Latin America with over 2.3 million.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• Deep dive regional level analysis of the industry.