U.S. Flavors Market - Expected to Reach $4.8 Billion by 2025
DUBLIN, Dec. 28, 2017 /PRNewswire/ --
The "U.S. Flavors Market Analysis by Product (Liquid & Dry), by Application (Beverages, Bakery, Dairy, Processed Foods, Pet Food, Pharmaceuticals, Vapor Machines) and Segment Forecasts, 2014 - 2025" report has been added to Research and Markets' offering.
The U.S. flavors market is expected to reach USD 4.87 billion by 2025. 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.
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.
Companies Mentioned
- Symrise AG
- Frutarom
- Givaudan
- International Flavors & Fragrances
- Gold Coast Ingredients, Inc.
- Flavors Gourmet
- Natures Flavors
- BioSun Flavors & Food Ingredients
- Takasago International Corporation
- Firmenich S.A.
- Ariake USA
- McCormick & Company
- Kerry Group
- Carmi Flavors
- Sensient Technologies
- Synergy Flavors Inc.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 U.S. Flavors Market Variables, Trends & Scope
Chapter 4 U.S. Flavors Market: Product Estimates & Trend Analysis
Chapter 5 U.S. Flavors Market: Application Estimates & Trend Analysis
Chapter 6 Competitive Landscape
Chapter 7 Company Profiles
Chapter 8 Customer Profiles
For more information about this report visit https://www.researchandmarkets.com/research/m7khhp/u_s_flavors
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Share this article