Global market for flavours in food and drink forecast by RTS to reach $9.0bn by 2015. Our latest research reveals a shift towards natural ingredients. In this free global industry report we highlight the growing markets and key product categories.
The global market for flavours as an ingredient in food and drink is currently worth $7.8bn, according to research by RTS, with natural flavours now worth $3.3bn - a 43% share of the total flavours market. This shift in demand towards natural flavours is increasing the price of natural ingredients, which in turn is driving value growth ahead of the market.
While demand for synthetics has stalled, demand for natural flavours have been growing rapidly at a rate of 9.1% per year as food and drink manufacturers across the world respond to consumer and retailer pressure and replace synthetic flavours with natural alternatives.
How does this impact suppliers to the food industry?
- Consumers are looking for healthier, more natural food products. This trend, together with increased pressure from governments, health organisations and retailers to move towards natural ingredients, has created a significant shift in demand away from synthetic ingredients.
- As a result of this change in demand, many manufacturers are reformulating their products to ‘clean-label’ formulations. Natural flavours offer perceived health benefits in addition to taste, so manufacturers can promote this to health-aware consumers as another reason to buy.
- As demand for natural flavours grows, the resulting rise in value will drive the market.
How can you use this information to benefit your business?
- Consider the key markets - our research has identified the US, followed by China, the UK and Germany as the most significant for natural flavours. But also look at markets where significant growth potential exists, even while demand remains comparatively low - we would recommend Brazil, India and Russia as important growing markets.
- Consider the key product categories for natural flavours - we have identified soft drinks, yoghurts and desserts as the largest market sectors. Do you have a natural ingredient - perhaps herb or spice based - that could take advantage of growth in these categories? For example, if you supply a spice-derived flavour to ready meals, there could be an opportunity for you to expand into the soft drinks sector.
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This global food industry report examines the shift from synthetic to natural flavours and highlights key opportunities and growth areas.
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Other titles in our food industry report series:
We also offer a range of related reports that will provide you with in-depth information on the market for natural ingredients. Click on the links below to find out more.
- Natural and Synthetic Flavours as an ingredient for food and drink
- Seasonings, Herbs and Spices as ingredients for food and drink
- Natural Flavours - Global market data pack
- Synthetic Flavours - Global market data pack
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