Global Flavors Market Size & Outlook, 2022-2030
Global flavors market, 2017-2030 (US$M)
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Global flavors market highlights
- The global flavors market generated a revenue of USD 18,270.0 million in 2022 and is expected to reach USD 28,540.4 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 5.7% by 2030.
- In terms of segment, food accounted for a revenue of USD 11,888.8 million in 2022.
- Beverages is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2022.
- Country-wise, Canada is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 18,270.0 million |
| Market revenue in 2030 | USD 28,540.4 million |
| Growth rate | 5.7% (CAGR from 2022 to 2030) |
| Largest segment | Food |
| Fastest growing segment | Beverages |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Food, Beverages, Others (Tobacco products, pharmaceuticals, etc.) |
Other key industry trends
- In terms of revenue, the North America accounted for 25.0% of the global flavors market in 2022.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Canada is the fastest growing regional market and is projected to reach USD 452.0 million by 2030.
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Flavors Market Scope
Flavors Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global flavors market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to flavors market will help companies and investors design strategic landscapes.
Food was the largest segment with a revenue share of 65.07% in 2022. Horizon Databook has segmented the Global flavors market based on food, beverages, others (tobacco products, pharmaceuticals, etc.) covering the revenue growth of each sub-segment from 2017 to 2030.
- Global Flavors Application Outlook (Revenue, USD Million, 2017-2030)
- Food
- Dairy Products
- Bakery & Confectionery
- Supplements & Nutrition Products
- Meat & Seafood Products
- Snacks
- Pet Foods
- Sauces, Dressings & Condiments
- Others (plant-based food, baby food, etc.)
- Beverages
- Juices & Juice Concentrates
- Functional Beverages
- Alcoholic Beverages
- Carbonated Soft Drinks
- Others (Smoothies, Coffee, etc.)
- Others (Tobacco products, pharmaceuticals, etc.)
- Food
- Global Flavors Nature Outlook (Revenue, USD Million, 2017-2030)
- Natural
- Synthetic
- Global Flavors Form Outlook (Revenue, USD Million, 2017-2030)
- Powder
- Liquid/Gel
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Target buyers of Global flavors market databook
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Our clientele includes a mix of flavors market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global flavors market , including forecasts for subscribers. This global databook contains high-level insights into Global flavors market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Global flavors market size, by regions, 2017-2030 (US$M)
Top 10 countries: Flavors market size, 2022 (US$M)
Global flavors market share, by application, 2022 & 2030 (%, US$M)
Flavors market: Opportunity assessment by country
Global flavors market, by region, 2022 (US$M)
| Application | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 3,831.6 | 3,955.9 | 4,089.6 | 4,233.3 | 4,390.6 | 4,564.8 | 4,757.9 | 4,972.5 | 5,208.5 | 5,465.7 | 5,741.9 | 6,034.1 | 6,336.5 | 6,647.1 | 4.8% |
| Europe | 3,467.6 | 3,593.4 | 3,728.8 | 3,874.6 | 4,034.1 | 4,210.6 | 4,406.3 | 4,623.5 | 4,862.8 | 5,124.0 | 5,405.6 | 5,704.9 | 6,016.7 | 6,339.5 | 5.3% |
| Asia Pacific | 5,007.2 | 5,256.2 | 5,525.2 | 5,815.4 | 6,133.0 | 6,483.5 | 6,871.6 | 7,302.2 | 7,777.4 | 8,298.9 | 8,865.4 | 9,474.4 | 10,118.3 | 10,795.5 | 6.6% |
| Latin America | 1,479.3 | 1,545.0 | 1,615.6 | 1,691.6 | 1,774.6 | 1,866.0 | 1,967.1 | 2,079.1 | 2,202.4 | 2,337.2 | 2,483.0 | 2,638.9 | 2,802.5 | 2,973.3 | 6.0% |
| MEA | 920.3 | 958.5 | 999.5 | 1,043.7 | 1,091.9 | 1,145.0 | 1,203.7 | 1,268.9 | 1,340.5 | 1,418.7 | 1,503.1 | 1,593.1 | 1,687.2 | 1,785.0 | 5.7% |
| Overall | 14,705.9 | 15,308.9 | 15,958.8 | 16,658.5 | 17,424.1 | 18,270.0 | 19,206.6 | 20,246.2 | 21,391.6 | 22,644.4 | 23,999.0 | 25,445.4 | 26,961.2 | 28,540.4 | 5.7% |
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