Market Overview:
The global plant-based flavour 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% during the forecast period. The market growth can be attributed to the increasing demand for plant-based food products owing to their health benefits. In terms of type, the spices segment is expected to account for a major share of the global plant-based flavour market during the forecast period. This can be attributed to the increasing demand for ethnic cuisines across regions. In addition, fruit or fruit juice and vegetable or vegetable juice are also projected to witness significant growth during the forecast period owing to rising awareness about healthy eating habits among consumers. In terms of application, beverages segment is expected dominate the global plant-based flavour market throughoutthe forecast period followed by dairy products and bakery products segments respectively. This can be attributedto changing consumer preferences towards healthier options coupled with rising disposable incomes in developing countries such as India and China .
Product Definition:
A plant-based flavour is a flavouring agent that is derived from plant sources. These agents can be used to impart a variety of different flavours, including fruity, floral, and earthy notes. Plant-based flavours are important for adding natural and authentic flavours to food products. They can also be used to provide health benefits, such as reducing the amount of salt or fat in a product.
Spices:
Spices are the dried, crushed, and ground seeds, roots or fruits of plants. Spices have been used since ancient times as a means to enhance the taste of food products. The modern use of spices is not much different from their traditional usage; however, there has been an increase in their consumption due to changing palettes around the world.
Fruit or Fruit Juice:
Fruit or fruit juice is a concentrated fruit pulp, which is used as a natural flavoring agent in various food products. It offers natural sweetness and aroma to the end product. The major applications of this product are bakery, confectionery & chocolate, dairy products (cheese), beverages (alcoholic and non-alcoholic), meat & poultry products, sauces & dressing and savory snacks.
Application Insights:
Beverages emerged as the leading application segment and accounted for over 40% of the global market share in terms of revenue in 2017. Increasing demand for functional beverages with health benefits is expected to drive the segment growth over the forecast period. Beverages such as smoothies, juices, energy drinks and water bottles are becoming increasingly popular among consumers globally owing to their ability to provide nutrition in a short amount of time along with improved digestion and hydration.
The dairy products segment is projected to witness significant growth during the forecast period on account of rising consumer preference towards vegan food products that comply with dietary requirements without compromising on taste. Dairy alternatives such as cheese made from soy milk or coconut milk have gained immense popularity due to their healthy nature compared to conventional counterparts while also providing essential nutrients like calcium and vitamin B6 which aid neurological function among other things including heart health.
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 meat, seafood, and dairy products. China is one of the largest consumers of plant-based ingredients across all categories owing to increasing awareness about health benefits associated with vegan foods among consumers coupled with rising disposable income levels in the country.
North America accounted for a significant share in terms of revenue as well as volume due to growing demand from key application sectors such as beverages, confectionery & bakery products, and others. The U.S., which was at forefront during development of innovative plant-based flavors due to technological advancements along with an increase in R&D expenditure by companies operating within this industry has witnessed considerable growth since 2012 (according to IFF).
Growth Factors:
- Increasing awareness about the health benefits of plant-based foods is driving the demand for plant-based flavours.
- The trend of veganism and vegetarianism is gaining popularity, which is propelling the growth of the plant-based flavour market.
- Rapid urbanization and changing lifestyles are leading to an increase in demand for convenient and healthy food options, which is benefiting the plant-based flavour market.
- Rising consumer preference for natural and organic products is boosting sales of products containing plant-based flavours. 5) Growing demand from emerging markets such as China and India is providing opportunities for growth in the global Plant Based Flavors market
Scope Of The Report
Report Attributes
Report Details
Report Title
Plant-based Flavour Market Research Report
By Type
Spices, Fruit or Fruit Juice, Vegetable or Vegetable Juice, Herbs, Others
By Application
Beverages, Dairy Products, Confectionery Products, Bakery Products, Meat Products, Frozen Products, Others
By Companies
Givaudan, Sensient, BASF, International Flavours and Fragrances, Corbion, Symrise, Kerry Group, MANE, Takasago, Archer Daniels Midland
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
228
Number of Tables & Figures
160
Customization Available
Yes, the report can be customized as per your need.
Global Plant-based Flavour Market Report Segments:
The global Plant-based Flavour market is segmented on the basis of:
Types
Spices, Fruit or Fruit Juice, Vegetable or Vegetable Juice, Herbs, Others
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
Beverages, Dairy Products, Confectionery Products, Bakery Products, Meat Products, Frozen Products, 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:
- Givaudan
- Sensient
- BASF
- International Flavours and Fragrances
- Corbion
- Symrise
- Kerry Group
- MANE
- Takasago
- Archer Daniels Midland
Highlights of The Plant-based Flavour 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:
- Spices
- Fruit or Fruit Juice
- Vegetable or Vegetable Juice
- Herbs
- Others
- By Application:
- Beverages
- Dairy Products
- Confectionery Products
- Bakery Products
- Meat Products
- Frozen Products
- 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 Flavour 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
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- Consumer Insights
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- Product & Brand Management
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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 flavour is a descriptor for any food or beverage that does not contain animal products. This includes foods like fruits, vegetables, grains, legumes and nuts.
Some of the key players operating in the plant-based flavour market are Givaudan, Sensient, BASF, International Flavours and Fragrances, Corbion, Symrise, Kerry Group, MANE, Takasago, Archer Daniels Midland.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Plant-based Flavour 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 Flavour Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Plant-based Flavour 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 Flavour 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 Flavour Market Size & Forecast, 2018-2028
4.5.1 Plant-based Flavour Market Size and Y-o-Y Growth
4.5.2 Plant-based Flavour Market Absolute $ Opportunity
Chapter 5 Global Plant-based Flavour 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 Flavour Market Size Forecast by Type
5.2.1 Spices
5.2.2 Fruit or Fruit Juice
5.2.3 Vegetable or Vegetable Juice
5.2.4 Herbs
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Plant-based Flavour 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 Flavour Market Size Forecast by Applications
6.2.1 Beverages
6.2.2 Dairy Products
6.2.3 Confectionery Products
6.2.4 Bakery Products
6.2.5 Meat Products
6.2.6 Frozen Products
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Plant-based Flavour 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 Flavour 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 Flavour Analysis and Forecast
9.1 Introduction
9.2 North America Plant-based Flavour 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 Flavour Market Size Forecast by Type
9.6.1 Spices
9.6.2 Fruit or Fruit Juice
9.6.3 Vegetable or Vegetable Juice
9.6.4 Herbs
9.6.5 Others
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 Flavour Market Size Forecast by Applications
9.10.1 Beverages
9.10.2 Dairy Products
9.10.3 Confectionery Products
9.10.4 Bakery Products
9.10.5 Meat Products
9.10.6 Frozen Products
9.10.7 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 Flavour Analysis and Forecast
10.1 Introduction
10.2 Europe Plant-based Flavour 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 Flavour Market Size Forecast by Type
10.6.1 Spices
10.6.2 Fruit or Fruit Juice
10.6.3 Vegetable or Vegetable Juice
10.6.4 Herbs
10.6.5 Others
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 Flavour Market Size Forecast by Applications
10.10.1 Beverages
10.10.2 Dairy Products
10.10.3 Confectionery Products
10.10.4 Bakery Products
10.10.5 Meat Products
10.10.6 Frozen Products
10.10.7 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 Flavour Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Plant-based Flavour 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 Flavour Market Size Forecast by Type
11.6.1 Spices
11.6.2 Fruit or Fruit Juice
11.6.3 Vegetable or Vegetable Juice
11.6.4 Herbs
11.6.5 Others
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 Flavour Market Size Forecast by Applications
11.10.1 Beverages
11.10.2 Dairy Products
11.10.3 Confectionery Products
11.10.4 Bakery Products
11.10.5 Meat Products
11.10.6 Frozen Products
11.10.7 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 Flavour Analysis and Forecast
12.1 Introduction
12.2 Latin America Plant-based Flavour 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 Flavour Market Size Forecast by Type
12.6.1 Spices
12.6.2 Fruit or Fruit Juice
12.6.3 Vegetable or Vegetable Juice
12.6.4 Herbs
12.6.5 Others
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 Flavour Market Size Forecast by Applications
12.10.1 Beverages
12.10.2 Dairy Products
12.10.3 Confectionery Products
12.10.4 Bakery Products
12.10.5 Meat Products
12.10.6 Frozen Products
12.10.7 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 Flavour Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Plant-based Flavour 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 Flavour Market Size Forecast by Type
13.6.1 Spices
13.6.2 Fruit or Fruit Juice
13.6.3 Vegetable or Vegetable Juice
13.6.4 Herbs
13.6.5 Others
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 Flavour Market Size Forecast by Applications
13.10.1 Beverages
13.10.2 Dairy Products
13.10.3 Confectionery Products
13.10.4 Bakery Products
13.10.5 Meat Products
13.10.6 Frozen Products
13.10.7 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 Flavour Market: Competitive Dashboard
14.2 Global Plant-based Flavour Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Givaudan
14.3.2 Sensient
14.3.3 BASF
14.3.4 International Flavours and Fragrances
14.3.5 Corbion
14.3.6 Symrise
14.3.7 Kerry Group
14.3.8 MANE
14.3.9 Takasago
14.3.10 Archer Daniels Midland
