Global Plant Based Flavors Market- By End-Use (Food Industry (Processed Food, Dairy, Bakery, Confectionery) Beverage Industry (Flavored Drinks, Energy Drinks, Fruit Juices), Pharmaceutical Industry, Others), By Natural Sources (Spices, Fruit, Vegetable, Herbs or similar plant materials), By Application (Aroma Chemical, Essential Oil & Natural Extract, Fragrance Blends, Flavors Blends), and By Region (North America, Europe, Asia Pacific, South America, and Middle East, & Africa)- Global forecast from 2020-2027.
Global Plant Based Flavors Market Overview:
The flavor defined as the combination of taste and odor used for flavoring and seasoning to enhance the quality of beverages, foods, and drugs. Plant-based characteristics are influenced by other sensations such as pain, heat cold, and tactile sensations, often referred to as the texture of foods.
Global Plant Based Flavors Market Insights
The global plant-based flavors market expected to increase market value by USD 18.36 million with significant CAGR in the forecast period from 2020-2027. The market demand for the plant-based flavors is growing due to rising awareness for the use of natural and animal-free products and coupled with emerging knowledge for the side-effects of the antibiotics and hormones in animals’ products.
The demand for plant-based flavors increases as the consumers are now conscious of their health and shifting to plant-based products. The benefit of consuming plant-based products helps in reducing the risk of cancer, heart diseases, diabetes, and mental illness. Therefore, plant-based flavors used to enhance the taste of the vegan consumer without compromising on their micronutrients.
Further, many food manufacturers and other end-use industries are opting to use vegan flavors in products to fuel sales among health-conscious consumers. Thus, the emerging awareness and easy availability of vegan products in the market will help estimate the rise of the growth of the plant-based flavors market in the forecast period.
Moreover, the rising disposable income, urbanization, and developing countries are increasing the demand for organic and plant-based products. Besides, the change in people’s eating habits helps to update and modify food products and their inventories. Thus, catering to consumer trends and altering consumption patterns.
Besides, governments across various regions have regulated policies and guidelines to reduce the consumption of meat products to minimizes health-related problems. Therefore, government support increases the propensity of consumers for the use of plant-based products.
Therefore, companies are trying to develop various vegan meat replacement that can fulfill the requirements of consumers. These can be used by manufacturers across the food industry to create innovative products, based on which, the demand for plant-based flavors is estimated to increase during the forecast period.
Growth Driver
Changing Lifestyle of the People
Change in people’s lifestyles across various regions of the world due to the increase in disposable income, rising awareness, and increasing inclination toward healthy products have brought about a change in consumer lifestyles. Also, changing consumer habits create an opportunity for bringing in innovative products.
Increasing awareness among consumers
The rising awareness among consumers for the consumption of plant-based flavors in the diet is increasing the market share for the global plant-based product. Thus, the food industry manufacturer is also making changes in the food industry and rising in the market demand for the plant-based flavors product.
By End-Use Segmental Analysis
Based on the End-use, the global plant-based flavors market segmented into Food Industry (Processed Food, Dairy, Bakery, Confectionery) Beverage Industry (Flavored Drinks, Energy Drinks, Fruit Juices), Pharmaceutical Industry, Others. The food industry segment estimated to dominate the maximum share of the global plant-based flavors market. It is mainly due to the emerging demand for vegan food products to reduce the consumption of animal-based products as they have side effects on the body. Moreover, rising contamination in the food has deteriorated the quality of dairy products and other animal-based food. Additionally, the pharmaceutical industry will also grow at a lucrative rate in the forecast period. The government regulation in various pharmaceutical sectors is fueling plant-based flavors’ demand to reduce animal use in making medicines.
By Natural Source Segmental Analysis
Based on the natural source, the global plant-based flavors market classified into Spices, Fruit, Vegetable, herb, or similar plant materials. The spices segment contributes the largest share in the global plant-based flavors market. It is mainly due to the different flavors and aroma of the spices, such as turmeric, ginger, garlic, cayenne, and seaweed, in the diet. Moreover, it provides excellent nutrition and medicinal benefits to the food and reduces the risk of health problems.
By Application Segmental Analysis
Based on the application, the global plant-based flavors market categorized into Aroma Chemical, Essential Oil & Natural Extract, Fragrance Blends, Flavors Blends. The flavors blend segment dominates the global plant-based flavors market. It is mainly due to the rising market demand for the flavors blends used in food and beverage, tobacco, pharmaceutical industries, and others to provide pleasant scents. With emerging organic beauty products, market use flavors blend to enhance the fragrances of the beauty care products.
By Region Segmental Analysis
Based on geography, the global plant-based flavors market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe is the world’s fastest-growing global plant-based flavors market, accounting for the largest share. It is mainly due to the changing people’s lifestyle; awareness among people for the benefits of consuming plant-based products fuels the market demand in the European region.
Competitor Analysis
Companies such as International Flavors & Fragrances, Inc., Sensient Technologies Corporation, Symrise AG, Givaudan SA, McCormick & Company, Inc., Takasago International Corporation, Kerry Group, Döhler Group SE, The Edlong Corporation, Innova Flavors, Flavor Producers, LLC, LorAnn Oils, Gold Coast Ingredients, Inc. and others are key players in the global plant-based flavors market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global plant-based flavors manufacturing companies
- Research organizations and consulting companies’ plant-based flavors
- Regulatory bodies
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By End-User
- Food Industry
- Processed Food
- Dairy
- Bakery
- Confectionery
- Beverage Industry
- Flavored Drinks
- Energy Drinks
- Fruit Juices
- Pharmaceutical Industry
- Others
By Natural Sources
- Spices
- Fruit
- Vegetable
- Herbs or similar plant materials
By Application
- Aroma Chemical
- Essential Oil & Natural Extract
- Fragrance Blends
- Flavor Blends
By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Economic Factor Analysis
- Global Plant Based Flavours Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Market Share & Forecast, 2016-2027
- By End-User
- Food Industry
- Processed Food
- Dairy
- Bakery
- Confectionery
- Beverage Industry
- Flavored Drinks
- Energy Drinks
- Fruit Juices
- Pharmaceutical Industry
- Others
- Food Industry
- By Natural Sources
- Spices
- Fruit
- Vegetable
- Herbs or similar plant materials
- By Application
- Aroma Chemical
- Essential Oil & Natural Extract
- Fragrance Blends
- Flavour Blends
- By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By End-User
- Demand
- Market Size & Forecast, 2016-2027
- Europe Plant Based Flavours Market Overview
- Europe Plant Based Flavours Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Europe Plant Based Flavours Market Share & Forecast, 2016-2027
- By End-User
- Food Industry
- Processed Food
- Dairy
- Bakery
- Confectionery
- Beverage Industry
- Flavored Drinks
- Energy Drinks
- Fruit Juices
- Pharmaceutical Industry
- Others
- Food Industry
- By Natural Sources
- Spices
- Fruit
- Vegetable
- Herbs or similar plant materials
- By Application
- Aroma Chemical
- Essential Oil & Natural Extract
- Fragrance Blends
- Flavour Blends
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Plant Based Flavours Market
- By End-User
- Demand
- Europe Plant Based Flavours Market Size & Forecast, 2016-2027
- North America Plant Based Flavours Market Overview
- North America Plant Based Flavours Products Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- North America Plant Based Flavours Market Share & Forecast, 2016-2027
- By End-User
- Food Industry
- Processed Food
- Dairy
- Bakery
- Confectionery
- Beverage Industry
- Flavored Drinks
- Energy Drinks
- Fruit Juices
- Pharmaceutical Industry
- Others
- Food Industry
- By Natural Sources
- Spices
- Fruit
- Vegetable
- Herbs or similar plant materials
- By Application
- Aroma Chemical
- Essential Oil & Natural Extract
- Fragrance Blends
- Flavour Blends
- By Country
- US
- Canada
- Mexico
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Plant Based Flavours Market
- By End-User
- Demand
- North America Plant Based Flavours Products Market Size & Forecast, 2016-2027
- Asia Pacific Plant Based Flavours Market Overview
- Asia Pacific Plant Based Flavours Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Asia Pacific Plant Based Flavours Market Share & Forecast, 2016-2027
- By End-User
- Food Industry
- Processed Food
- Dairy
- Bakery
- Confectionery
- Beverage Industry
- Flavored Drinks
- Energy Drinks
- Fruit Juices
- Pharmaceutical Industry
- Others
- Food Industry
- By Natural Sources
- Spices
- Fruit
- Vegetable
- Herbs or similar plant materials
- By Application
- Aroma Chemical
- Essential Oil & Natural Extract
- Fragrance Blends
- Flavour Blends
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Company Market Share (Top 3-5)
- Economic Plant Based Flavours Market Overview
- By End-User
- South America Plant Based Flavours Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- South America Plant Based Flavours Market Share & Forecast, 2016-2027
- By End-User
- Food Industry
- Processed Food
- Dairy
- Bakery
- Confectionery
- Beverage Industry
- Flavored Drinks
- Energy Drinks
- Fruit Juices
- Pharmaceutical Industry
- Others
- Food Industry
- By Natural Sources
- Spices
- Fruit
- Vegetable
- Herbs or similar plant materials
- By Application
- Aroma Chemical
- Essential Oil & Natural Extract
- Fragrance Blends
- Flavour Blends
- By Country
- Brazil
- Argentina
- Rest of South America
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Plant Based Flavours Market
- By End-User
- Demand
- Demand
- Asia Pacific Plant Based Flavours Market Size & Forecast, 2016-2027
- Middle East & Africa Plant Based Flavours Market Overview
- Middle East & Africa Plant Based Flavours Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Middle East & Africa Plant Based Flavours Market Share & Forecast, 2016-2027
- By End-User
- Food Industry
- Processed Food
- Dairy
- Bakery
- Confectionery
- Beverage Industry
- Flavored Drinks
- Energy Drinks
- Fruit Juices
- Pharmaceutical Industry
- Others
- Food Industry
- By Natural Sources
- Spices
- Fruit
- Vegetable
- Herbs or similar plant materials
- By Application
- Aroma Chemical
- Essential Oil & Natural Extract
- Fragrance Blends
- Flavour Blends
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Plant Based Flavours Market
- By End-User
- Demand
- Middle East & Africa Plant Based Flavours Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- International Flavors & Fragrances, Inc.
- Sensient Technologies Corporation
- Symrise AG
- Givaudan SA
- McCormick & Company, Inc.
- Takasago International Corporation
- Kerry Group
- Döhler Group SE
- The Edlong Corporation
- Innova Flavors
- Flavor Producers, LLC
- LorAnn Oils
- Gold Coast Ingredients, Inc.
- Other players