Biotech Flavor Market Size To Reach $2.45 Billion By 2030

Biotech Flavor Market Growth & Trends

The global biotech flavor market size is expected to reach USD 2.45 billion by 2030, expanding at a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing awareness regarding nutritional benefits such as stimulation of appetite and content of citric acid to boost immune and rising health consciousness are expected to drive the market in the next few years.

Growing penetration of natural flavoring due to advancement in various types of beverages has been driving the demand for the global market. Beverages infused with biotech flavors help in boosting energy level, metabolism, and other bodily functions. Flavors such as lemon and cucumber help in stimulating liver functions and strengthening veins. Growing trend of convergence between biotech and nutraceuticals driven by increasing application of ingredients claims to have various health benefits. For instance, Robertet introduced Xtreme Flavors with high impact, true fruit, authentic, and natural flavoring that can be infused in various beverage preparations. Some of the flavors include plum and plum sugar, pear, watermelon, and apple.

The powder form held the largest market share and generated a revenue of USD 17.1 billion in 2018. This segment consists of energy drinks powder, yogurt powder, butter powder, and others with features that are applicable in maintaining health. The liquid form is expected to expand at a CAGR of 7.4% over the forecast period. Growing awareness and popularity of liquid form due to its wide usage in beverages such as fruits and vegetables juices, energy drinks, and sodas with the respective taste preference is the key factor driving the segment demand.

Vanilla flavor accounted for the largest market share with a revenue of USD 17.8 in 2018. This flavoring is mostly used in food products due to its benefits such as powerful antioxidant, antibacterial, anti-inflammatory, and cholesterol stabilizers. Fruity flavor is expected to register a CAGR of 7.3% in the forecast period due to increased application in the form of jams and growing research and development expenditure in the respective market. Consumers are demanding healthier options for food spreads and fillings, which, in turn, has driven the demand for fruity flavors.

Major market players have been significantly carrying out research and development to make these products available according to the needs of consumers. For instance, IFF Inc. derives natural ingredients from flowers, fruits, and botanical products with the help of specialized drying technology by eliminating water with best taste, nutrition, and color matrix intact in juice drinks, carbonated beverages, candy chewing gum, yogurt, ice cream, and cheese.

North America was the largest regional market with a revenue of USD 14.2 billion in 2018. The region is expected to maintain its lead over the forecast period. Increasing preference for healthy ready to eat and drink products in U.S. is expected to drive the companies to develop more of biotech flavor infused consumables. Growing consumption of packaged food is another driver for the market growth in the region.

Key players in the global market include Givaudan; Firmenich SA; IFF Inc.; Symrise AG; Wild Flavors; Takasago International Corporation; Mane Flavors; Frutarom; Sensient Technology Ltd.; and Roberetet.

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Biotech Flavor Market Report Highlights

• By type, fruity flavor is expected to register a CAGR of 9.0% from 2024 to 2030

• The powder segment accounted for the largest market revenue share in 2023.

• North America dominated the biotech flavor market with a revenue share of 39.6% in 2023.

• Asia Pacific Biotech Flavors market is anticipated to witness significant growth in the biotech flavor market.

• The biotech flavor market is highly competitive in nature due to presence of the main players including Givaudan

• Various manufacturers are concentrating on new product launches and capacity expansion to estimate existing and future demand patterns from upcoming product segments.

Biotech Flavor Market Segmentation

Grand View Research has segmented the global biotech flavor market on the basis of type, application, form, and region:

Biotech Flavor Type Outlook (Revenue, USD Million, 2018 - 2030)

• Vanilla

• Fruity Flavor

• Others

Biotech Flavor Form Outlook (Revenue, USD Million, 2018 - 2030)

• Liquid

• Powder

• Paste

Biotech Flavor Application Outlook (Revenue, USD Million, 2018 - 2030)

• Dairy

• Bakery and confectionery

• Beverage

• Nutraceuticals

• Others

Biotech Flavor Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • New Zealand

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Arabia

List Of Key Players in the Biotech Flavor Market

• Givaudan SA     

• Firmenich SA     

• Symrise AG        

• International Flavors & Fragrances Inc. (IFF)        

• Takasago International Corporation        

• Sensient Technologies Corporation         

• Kerry Group plc

• Bell Flavors & Fragrances Inc.     

• Flavorchem Corporation              

• T. Hasegawa Co., Ltd.