The global flavor systems market is estimated to account for a value of USD 5.64 billion in 2018 and is projected to grow at a CAGR of 4.3% from 2018, to reach a value of USD 6.96 billion by 2023. The creation of novel flavors driven by favorable consumer reception and cross-product usage of flavors are some of the key factors driving the growth of the flavor systems market.
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On the basis of type, the fruits vegetables segment is projected to grow at the highest rate from 2018 to 2023. Rising awareness amongst consumers regarding health and flavor popularity have led many manufacturers to include fruit vegetable flavors in their products. As a result, the market is experiencing the highest growth rate. Furthermore, fruits vegetables find their application in a range of food beverage products such as beverages, savories, desserts, and bakery confectionery products, which makes this segment a preferred one among consumers and manufacturers alike.
On the basis of source, the nature-identical flavors segment is projected to grow at the highest rate during the forecast period. These flavoring substances are characterized as being obtained from chemical synthesis or isolation by chemical processes, which makes them more economical in nature. Most of the commercial flavorants are also nature-identical substances, as these tend to be more stable in nature than natural flavoring extracts while being a more cost-effective option. Although nature-identical substances are formulated in a laboratory, the human body cannot distinguish between natural and nature-identical substances, which makes them safer than synthetic flavors.
On the basis of application, the beverages segment is projected to account for the largest share in the market during the forecast period while also being the fastest-growing one. The usage of various types of flavors in this application is largely attributed to the introduction and combination of different flavors to create elegant and aromatic combinations. Additionally, this category also includes novel flavor combinations such as flavors of fruits vegetables and spices blended with beverages such as coffee and chocolate shake to create sweet spicy and warm fall flavors, which makes the category the fastest-growing one.
On the basis of form, the liquid segment is estimated to occupy the majority of the share of the global flavor systems market. The major advantage associated with the usage of liquid flavors systems is that these flavors can be easily mixed together to achieve a homogeneous distribution of each component in the finished flavor. Due to this, the liquid segment accounts for a larger favorability among food beverage manufacturers.
Flavor systems or customized blending systems for flavors, targeted to achieve mass customization goals, have garnered significant favor from manufacturers and consumers alike. Various manufacturers and quick service restaurants (QSRs) are now looking at providing consumers with highly customizable products to help create a differentiated opportunity. For instance, Starbucks uses its website “frappucino.com” to allow consumers to create new beverage options. They could add new flavors such as raspberry or strawberry or new ingredients such as protein powder to help create products that they prefer. While this allows Starbucks to analyze consumer preferences and the popularity of different flavors and ingredients, it also helps them to understand the popular blends that the company could look forward to investing in.
Customization in any form remains associated with increased cost of products and their premiumization aspects. As a result, customized blends of flavors or flavor systems inherently remain highly priced and affect the final cost of products. These high costs of flavor systems could be attributed to flavor extraction procedures, technological developments associated with the blending of flavors, and the extent of customization executed for the creation of a unique flavor blend. This eventually results in huge costs being incurred by manufacturers when investing in different flavor blends. Furthermore, the inclusion of these customized flavor blends in a number of different end products, in accordance with proper formulations, enhances manufacturers’ product portfolio.
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In Europe, the growth of flavor systems is attributed to the growth in the. Beverages, bakery, and dairy frozen desserts industry, with growing demand for flavor enhancers in confectionery products. Soft drinks, dairy products, frozen products, and other alcoholic and non-alcoholic beverages are the most innovative food sectors in the region, offering significant opportunities for the growth of flavoring systems.
Furthermore, the growing consumption of bakery confectionery products, and savories snack products, and the demand for their product variety has resulted in intensifying demand for flavor systems in these food products. The innovation in food applications, with the use of flavor systems in these industries, has resulted in new product development and increased consumption of flavor systems in different food applications in this region.
