Market Overview:
The global plant-based flavors market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The market growth can be attributed to the increasing demand for plant-based foods and beverages owing to their health benefits. The global plant-based flavors market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into vegetables source and fruits source. The vegetables source segment dominates the global plant-based flavors market with a share of more than 60%. This can be attributed to the increasing demand for healthy food options across all regions. The fruits source segment is expected to grow at a higher CAGR during the forecast period as consumers are becoming increasingly aware about the health benefits associated with consuming fruit-based products. On the basis of application, food industry accounts for majority share in terms of revenue followed by beverage industry and pharmaceutical industry respectively. However, among these industries, beverage industry exhibits highest growth rate over other two industries during forecast period due rising trend among people towards healthy drinks such as juices & smoothies etc.
Product Definition:
Plant-based flavors are derived from plants, and they are used to enhance the flavor of food. They can be used to replace artificial flavors, and they can also be used to add new flavors to food. The use of plant-based flavors is becoming increasingly popular because they are considered healthier than artificial flavors.
Vegetables Source:
Vegetables source is a natural flavoring agent derived from plant materials. It is also referred to as vegetable extract, which can be obtained from various sources including fruits, vegetables and herbs. The primary function of the product is to provide freshness and flavor to food products without using any animal-derived ingredients such as stock or milk.
Fruits Source:
Fruits source is a natural flavoring agent derived from fresh fruits. It is used as an alternative to artificial flavors such as butterscotch, chocolate, and vanilla in various applications including bakery products, beverages (such as smoothies), dairy products (such as ice cream and yogurt), condiments/savory (such as ketchup and marmalade) and snacks & desserts.
Application Insights:
The food industry accounted for more than half of the global revenue share in 2017. The segment is expected to continue its dominance over the forecast period owing to various factors such as growing population, increasing disposable income, changing lifestyle and rising demand for convenience products.
The beverage industry also has a significant share in the market due to growing consumption of alcoholic and non-alcoholic beverages such as juices, soft drinks and energy drinks across the globe. In addition, milk chocolate is one of the most popular flavors used in various dairy products including ice cream which contributes towards overall consumption by beverage industry participants globally. Moreover, bakery & confectionery items are among some other popular applications that include use in pastries & cakes along with other baked goods like cookies & biscuits on account of their inherent sweetening properties without having any calories or carbohydrates content attached with them (as compared to sugar).
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounts for a large consumer base of processed food products, which has been fueling demand for plant-based flavors in this region. China, India, Japan and South Korea are some of the largest countries that have fueled growth in Asia Pacific regional market owing to increasing product demand from various end-use industries such as pharmaceuticals & medicine; nutraceuticals; confectionery & bakery; and others.
North America accounted for a significant share of revenue on account of growing product adoption across different application segments such as food industry, beverage industry and others. The U.S.
Growth Factors:
- Increasing demand for plant-based foods due to health concerns and ethical considerations
- Rising awareness about the health benefits of plant-based diets
- Growing popularity of vegan and vegetarian lifestyles
- Proliferation of meatless products and plant-based alternatives to animal-derived foods
- Increased investment in research and development of plant-based flavors
Scope Of The Report
Report Attributes
Report Details
Report Title
Plant-based Flavors Market Research Report
By Type
Vegetables Source, Fruits Source
By Application
Food Industry, Beverage Industry, Pharmaceutical Industry, Others
By Companies
International Flavors & Fragrances, Sensient Technologies, Symrise, Givaudan, McCormick & Company, Takasago International, Kerry Group, Dohler Group, The Edlong, Innova Flavors, Firmenich, Flavor Producers, LorAnn Oils, Gold Coast Ingredients, Mane SA
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
207
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Plant-based Flavors Market Report Segments:
The global Plant-based Flavors market is segmented on the basis of:
Types
Vegetables Source, Fruits Source
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food Industry, Beverage Industry, Pharmaceutical Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- International Flavors & Fragrances
- Sensient Technologies
- Symrise
- Givaudan
- McCormick & Company
- Takasago International
- Kerry Group
- Dohler Group
- The Edlong
- Innova Flavors
- Firmenich
- Flavor Producers
- LorAnn Oils
- Gold Coast Ingredients
- Mane SA
Highlights of The Plant-based Flavors Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Vegetables Source
- Fruits Source
- By Application:
- Food Industry
- Beverage Industry
- Pharmaceutical Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Plant-based Flavors Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Plant-based flavors are those that are derived from plants.
Some of the major companies in the plant-based flavors market are International Flavors & Fragrances, Sensient Technologies, Symrise, Givaudan, McCormick & Company, Takasago International, Kerry Group, Dohler Group, The Edlong, Innova Flavors, Firmenich, Flavor Producers, LorAnn Oils, Gold Coast Ingredients, Mane SA.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Plant-based Flavors Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Plant-based Flavors Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Plant-based Flavors Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Plant-based Flavors Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Plant-based Flavors Market Size & Forecast, 2018-2028
4.5.1 Plant-based Flavors Market Size and Y-o-Y Growth
4.5.2 Plant-based Flavors Market Absolute $ Opportunity
Chapter 5 Global Plant-based Flavors Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Plant-based Flavors Market Size Forecast by Type
5.2.1 Vegetables Source
5.2.2 Fruits Source
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Plant-based Flavors Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Plant-based Flavors Market Size Forecast by Applications
6.2.1 Food Industry
6.2.2 Beverage Industry
6.2.3 Pharmaceutical Industry
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Plant-based Flavors Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Plant-based Flavors Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Plant-based Flavors Analysis and Forecast
9.1 Introduction
9.2 North America Plant-based Flavors Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Plant-based Flavors Market Size Forecast by Type
9.6.1 Vegetables Source
9.6.2 Fruits Source
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Plant-based Flavors Market Size Forecast by Applications
9.10.1 Food Industry
9.10.2 Beverage Industry
9.10.3 Pharmaceutical Industry
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Plant-based Flavors Analysis and Forecast
10.1 Introduction
10.2 Europe Plant-based Flavors Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Plant-based Flavors Market Size Forecast by Type
10.6.1 Vegetables Source
10.6.2 Fruits Source
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Plant-based Flavors Market Size Forecast by Applications
10.10.1 Food Industry
10.10.2 Beverage Industry
10.10.3 Pharmaceutical Industry
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Plant-based Flavors Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Plant-based Flavors Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Plant-based Flavors Market Size Forecast by Type
11.6.1 Vegetables Source
11.6.2 Fruits Source
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Plant-based Flavors Market Size Forecast by Applications
11.10.1 Food Industry
11.10.2 Beverage Industry
11.10.3 Pharmaceutical Industry
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Plant-based Flavors Analysis and Forecast
12.1 Introduction
12.2 Latin America Plant-based Flavors Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Plant-based Flavors Market Size Forecast by Type
12.6.1 Vegetables Source
12.6.2 Fruits Source
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Plant-based Flavors Market Size Forecast by Applications
12.10.1 Food Industry
12.10.2 Beverage Industry
12.10.3 Pharmaceutical Industry
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Plant-based Flavors Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Plant-based Flavors Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Plant-based Flavors Market Size Forecast by Type
13.6.1 Vegetables Source
13.6.2 Fruits Source
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Plant-based Flavors Market Size Forecast by Applications
13.10.1 Food Industry
13.10.2 Beverage Industry
13.10.3 Pharmaceutical Industry
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Plant-based Flavors Market: Competitive Dashboard
14.2 Global Plant-based Flavors Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 International Flavors & Fragrances
14.3.2 Sensient Technologies
14.3.3 Symrise
14.3.4 Givaudan
14.3.5 McCormick & Company
14.3.6 Takasago International
14.3.7 Kerry Group
14.3.8 Dohler Group
14.3.9 The Edlong
14.3.10 Innova Flavors
14.3.11 Firmenich
14.3.12 Flavor Producers
14.3.13 LorAnn Oils
14.3.14 Gold Coast Ingredients
14.3.15 Mane SA
