Global Herbs Flavor Market – Outlook
Natural food consumption is becoming a norm, and the food industry is trying to incorporate new sources of Flavors. Awareness of the biogenesis of plant volatiles, their enzymes and genes will pave the way for new food Flavors to be developed. Demand of food flavor is high due to increase per capita income of the consumers which is boosting the demand of herb flavors.
Demand for food flavor is created by rising demand for processed and comfort foods as well as increased consumption of confectionery products. The consumption of flavors is growing with the advancement of new technology and groundbreaking experiments in the food & beverage industry. The wild authentic aroma of herbs is widely used in various beverages.
In beverages such as fruit juices, soda, energy drinks, and flavored water, herb extracts are increasingly being used to provide the authentic flavor of herbs. Consumers actively prefer herb flavors to enhance taste and smell of the beverages, thereby driving the growth of herbs flavor market globally.
Unique Flavor demand to boost the Herbs flavor market
Robust demand of unique flavors by food manufacturers is boosting the demand of herb flavors. The growth of the flavours market is driven by changed customer lifestyles, higher demand for convenient food and the advancement of the global beverage industry in terms of safe logistics and packaging, such as self-chilling beverage cans. Globally expanding food and beverages industry, demands more natural and organic ingredients to cater the demand of the consumers as consumer’s preference is shifting towards organic flavors extracted from herbs owing to health consciousness.
Rapid urbanization and high disposable income has increased the spending of consumer on premium products which is expected to increase the sales of herbs flavors globally. Awareness among the consumer about the negative impact of artificial flavors used in various food and beverages is impacting the sales of herbs flavor across all regions.
Global Herbs Flavor Market - Segmentation
Based on type, global herbs flavor market is segmented as
Based on Application the global herbs flavor market is segmented as
Based on region the global herbs flavor markets is segmented as
Global Herbs Flavor Market - Key Players
Some of the key player operating in global herbs flavor market are FONA International Inc., Monin Incorporated, WildFlavors, Bickford Flavors, and others .Flavor manufacturers are investing in research and developments of new and unique natural flavors to offer the consumers.
COVID-19 impact on Herbs Flavor Market
The coronavirus pandemic affected all the sectors across all the regions. The widespread of coronavirus has triggered unprecedented instability and restriction throughout the world food system. Since food is a basic need, the level of food demand will be less affected by the crisis than other goods and services requirements. There has, however, been a significant change in the demand structure, with a fall in demand from restaurants, hotels and catering, the closing of open markets, and an increase in supermarket demand. The closing of restaurants and other foodservice establishments has decreased the market for herbs flavors considerably.
Hard hit of coronavirus in high potentials markets such as Europe and America has also affected food ingredient and additives manufacturers.
Global Herbs Flavor Market – Opportunity
Food & Beverages companies are increasingly using herb flavors their products with the growing popularity of unique and natural flavors. Customers willing to pay more for natural ingredients are making innovations and new formulations that will create space for manufacturers of herb flavors. The natural flavor industry, in particular, has performed remarkably well over compare to artificial flavors.
Increased health awareness, multiple health benefits of herbs as ingredient, and increased need for natural & organic products have fuelled demand for herbs flavors in recent years, propelling Herbs flavor market growth. In addition, factors such as living a healthy life, increasing demand for organic foods, as well as medicinal formulations, are also boosting the overall market in all regions.
Global Herbs Flavor Market – Regional Presence
North America is expected to be the dominating market owing to high per capita income of consumers and established food and beverage industry in the region. Consumption of beverages with unique flavors is favorable among the millennial in developed economies which a factor for high demand in high potential markets like Europe and North America. Emerging countries of Asia Pacific and Latin America is anticipated to show high growth for the herbs flavor owing to increasing population and disposable income. Rapid growth of urban lifestyle in these regions is providing opportunity to the herb flavor manufacturers.