Floral Flavors Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Floral Flavors Market Analysis
The floral flavors market is projected to register a CAGR of 5.1% over the next five years.
- Floral flavors have found favor among food and beverage manufacturers seeking more natural and botanical ingredients. Some of the most commonly used floral flavors include jasmine, rose, hibiscus, elderflower, lavender, orange blossom, and chrysanthemum, providing exotic tastes that offer a touch of adult sophistication to food and beverage products. Additionally, floral flavors are also increasingly being used with fruit flavors as they tend to complement the sweet and tangy fruit flavors.
- Thus, floral flavors are increasingly being used in food and beverage product launches including yogurt, beer, tea, and other products. Health-conscious consumers across the world are opting for clean-label and natural-based food and beverages, due to which production of natural and organic products is increasing in the market. Owing to this, the demand for floral flavors is increasing in the market.
- In recent years, artificial flavorings, such as benzophenone, ethyl acrylate, pyridine, and styrene, are identified as carcinogens, and thus, are being replaced by natural flavorings across the global market. On the other hand, flavors such as Hibiscus have numerous health benefits and have been used as a medicinal remedy for centuries.
- Additionally, the trend of consumption of flavored tea and coffee is also increasing across the world and the market is also increasingly making use of floral extracts in tea and coffee beverages. The addition of floral flavors in frozen desserts is also a trend as it provides a unique taste to the products. In February 2022, Baskin Robin's launched a rose-flavored ice cream called Secret Admirer in the market. Over the medium term, the demand for floral flavors is expected to increase owing to the increasing demand for processed food and beverages and natural food products.
Floral Flavors Market Trends
Increasing Demand of Natural and Organic Flavors
- The demand for natural floral flavors is on the rise as a significant number of consumers have developed an interest in purchasing clean-label goods that feature naturally sourced ingredients. This trend has led manufacturers to shift toward natural ingredients, particularly floral ones, to cater to the growing demand for natural and organic flavors. Furthermore, some of these floral ingredients are known to offer health benefits as well.
- The demand for foods with exotic floral flavors is one of the driving factors behind the increasing demand for natural flavor blends. In addition, the demand for floral-based beverages is also on the rise worldwide, thanks to new product development and innovation. Market players are inventing new food and beverage products featuring organically extracted flower flavors.
- For example, in February 2021, Monin, a premium flavoring company, launched a syrup with the flavor of strawberry rose. The company claims the syrup is made from natural ingredients and has no artificial preservatives. The market is expected to grow in the medium term due to the increasing demand for organic-based beverages and other products.
North America Emerged as a Leading Region
- The North American region holds the largest share of the floral flavors market, with a significant part being driven by food and beverage manufacturers in the United States. Consumers in the region are constantly seeking new products and innovations, and market players have quickly responded by launching new products featuring floral flavors. This has led to a market demand surge for floral flavors.
- Furthermore, some food service and quick service restaurants in the region have started offering floral-flavored beverages, further contributing to the market's growth. For example, in August 2021, Balzac's Coffee Roasters in Canada collaborated with Ontario's Terre Bleu Lavender Farm to produce a limited-edition Lavender Latte.
- The demand for floral flavors is expected to grow, driven by the increasing demand for clean-label ingredients and product innovations. As consumers become more health-conscious, they are more inclined to choose natural and organic ingredients, including floral flavors, which offer flavor and potential health benefits.
Floral Flavors Industry Overview
The market for floral flavors is highly competitive, with several leading players vying for market share through product innovation, expansion, partnerships, and mergers & acquisitions. Some of the key players in the market include BASF SE, Firmenich SA, Carbery Group (Synergy Flavours), Sensient Technologies Corporation, and International Flavors and Fragrances Inc.
To increase their market penetration in untapped markets, major companies are adopting various strategies, such as developing new products and acquiring or partnering with local players. Other prominent players in the floral flavor market include Firmenich, Symrise, and Abelei. These players are also focusing on innovation to stay competitive in the market.
Floral Flavors Market Leaders
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BASF SE
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Firmenich SA
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Carbery Group (Synergy Flavours)
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Sensient Technologies Corporation
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International Flavors and Fragrances Inc
*Disclaimer: Major Players sorted in no particular order
Floral Flavors Market News
- May 2022: DSM and Firmenich announced they have entered into a business combination agreement to establish the leading creation and innovation partner in nutrition, beauty, and well-being. The combination will combine Firmenich's unique leading Perfumery and Taste businesses, world-class science platforms, and co-creation capabilities with DSM's outstanding health and nutrition portfolio and renowned scientific expertise.
- October 2021: Densient Technologies Corporation announced that it acquired the assets of Flavor Solutions, Inc. The business provides flavors and flavor technologies to the food, beverage, and nutraceutical markets. The acquisition of this business will allow Sensient to expand its flavor portfolio and add key technologies to strengthen its technical solution capabilities.
- July 2021: Symrise signed a purchase agreement to acquire Giraffe Foods, a Canada-based producer of sauces, dips, dressings, syrups, and beverage concentrates for business customers in the home meal replacement, food service, and retail markets. The acquisition will enable Symrise to offer a wider range of taste solutions to an expanded customer base in North America. The move is hoped to drive accelerated regional growth for the company's flavor & nutrition segment.
Floral Flavors Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Application
5.1.1 Beverages
5.1.2 Food
5.1.2.1 Dairy Products
5.1.2.2 Bakery Products
5.1.2.3 Confectionery Products
5.1.2.4 Other Food Applications
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Spain
5.2.2.5 Italy
5.2.2.6 Russia
5.2.2.7 Rest of Europe
5.2.3 Asia Pacific
5.2.3.1 India
5.2.3.2 China
5.2.3.3 Japan
5.2.3.4 Australia
5.2.3.5 Rest of Asia Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East and Africa
5.2.5.1 South Africa
5.2.5.2 Saudi Arabia
5.2.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Major Strategies by Leadng Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 BASF SE
6.3.2 Carbery Group (Synergy Flavours)
6.3.3 Abelei Inc.
6.3.4 Firmenich SA
6.3.5 Sensient Technologies Corporation
6.3.6 Symrise
6.3.7 FONA International Inc.
6.3.8 International Flavors and Fragrances Inc
6.3.9 Royal DSM
6.3.10 Givaudan
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Floral Flavors Industry Segmentation
Floral flavors are ingredients extracted from flowers that can be used in different applications. The floral flavors market is segmented by application into beverage and food products. Food products have been sub-segmented into dairy, bakery, confectionery, and other foods. the market is segmented by geography into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.
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Floral Flavors Market Research FAQs
What is the current Floral Flavors Market size?
The Floral Flavors Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)
Who are the key players in Floral Flavors Market?
BASF SE, Firmenich SA , Carbery Group (Synergy Flavours), Sensient Technologies Corporation and International Flavors and Fragrances Inc are the major companies operating in the Floral Flavors Market.
Which is the fastest growing region in Floral Flavors Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Floral Flavors Market?
In 2024, the North America accounts for the largest market share in Floral Flavors Market.
What years does this Floral Flavors Market cover?
The report covers the Floral Flavors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Floral Flavors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Floral Flavors Industry Report
Statistics for the 2024 Floral Flavors market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Floral Flavors analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Floral Flavors Market Report Snapshots
