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Functional Flavour Market

Market Insights on Functional Flavour covering sales outlook, demand forecast & up-to-date key trends

Functional Flavour Market by Application, Type & Region - Forecast 2022 - 2032

Functional Flavour Market Outlook (2022 - 2032)

According to the research of Future Market Insights, the market for Functional Flavour is anticipated to expand at a CAGR of 3.9% over the forecasted time period. According to projections, the industry would be worth US$ 22.3 Bn by 2032, up from US$ 15.2 Bn in 2022. At the end of 2021, the Functional Flavour Market was valued at US$ 14.6 Bn.

Market Size Value in 2022

US$ 15.2 Bn

Market Forecast Value in 2032

US$ 22.3 Bn

Global Growth Rate (2022-2032)

3.9%

Forecast Period

2022-2032

Global Market Share of US, Germany, Japan, and Australia

72.5%

Functional taste refers to flavours that contain functional substances such as green barley, aloe vera, spirulina, co-enzyme Q10, and so on. Nutraceuticals, acids, colours, antioxidants, essential oils, extracts, sugar(s), fortifications, texture-related compounds, sugar substitutes, and salt substitutes are examples of substances that are used in Functional Flavours.

Demand for Functional Flavours is expected to increase during the forecast period as a result of factors such as increasing health awareness, on-the-go lifestyle, changing consumer tastes and preferences, increasing health awareness, and new product advancements.

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Historical Outlook versus Future Projections for Functional Flavour Market

The Global Market for Functional Flavour increased from US$ 12.3 Bn to US$ 14.6 Bn between 2017 and 2021 with a CAGR of 4.4%.

The Functional Flavours market is estimated to expand rapidly throughout the period under consideration. The market for Functional Flavours is expected to expand due to the growing trend of increasing demand for functional foods and beverages.

The demand for Functional Flavours is expected to increase during the forecast period as a result of factors such as expanding health consciousness, on-the-go lifestyle, changing consumer tastes and preferences, increasing health awareness, and new product advancements.

During the forecast period, the global Functional Flavour Market is anticipated to grow from US$ 15.2 Bn in 2022 to US$ 22.3 Bn by 2032 with a healthy CAGR of 3.9%.

Country-wise Insights

Which region leads in of Functional Flavour Market?

North America is expected to be the largest market for Functional Flavours worldwide. The growth of the Functional Flavour market in Asia Pacific is driven by the increasing demand for natural and healthy food products in the region. The Europe region is expected to grow at a slow pace during the forecast period.

How is the U.S Functional Flavour Market Shaping?

US accounted for 30% of the global market with a value of US$ 4.6 Bn in 2022. The U.S Functional Flavour market is shaping in a very particular way. First and foremost, the market is being driven by an increase in health-consciousness among consumers.

This is evident in the growing popularity of plant-based and natural ingredients, as well as products that are free from artificial flavours. In addition, the trend for clean label products is also having an impact on the Functional Flavour market.

Furthermore, the growth of the e-commerce channel is also playing a role in how the U.S Functional Flavour market is shaping. This is because online shopping gives consumers more choice and flexibility when it comes to purchasing products. As such, they are more likely to seek out products that meet their specific needs and requirements.

Finally, another key trend that is impacting the U.S Functional Flavour market is the rise of health food delivery services.

How is India performing in the Functional Flavour market?

India has a large number of small and medium enterprises (SMEs) that produce Functional Flavours for the food and beverage industry. These SMEs have been able to capitalise on the growing demand for Functional Flavours by innovating and developing new products that cater to the needs of their customers.

The India Functional Flavour Market will grow at 3.9% CAGR between 2022 and 2032.

Nandini Roy Choudhury
Nandini Roy Choudhury
Principal Consultant
LinkedIn
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Category-wise Insights

Which industries use Functional Flavours the most?

During the forecast period, functional beverages are expected to be in high demand, followed by the baking segment. Functional Flavours are becoming increasingly popular in functional beverages as consumers seek out products that offer more than just hydration.

These flavours can provide a boost of energy, help with weight loss or management, and even improve cognitive function. While some of these flavours may be familiar, others are new and innovative.

Why are Natural Flavours becoming more popular?

Natural flavours are becoming increasingly popular in the food industry. This is because they provide a more natural and healthier option for consumers. Natural flavours can be made from fruits, vegetables, herbs, and spices. They can also be made from essential oils and extracts.

Competitive Landscape

The competitive landscape in the Functional Flavour market is intense with all the major players striving to gain a larger share of the pie. Innovation and new product launches are some of the key strategies adopted by these players to stay ahead of the competition.

The thorough evaluation of the report provides the growth potential, upcoming trends and statistics of the Global Functional Flavour Market size and what it predicts for the future. The report also analyses the market trend drivers and challenges and the competitive evaluation of the existing market.

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Functional Flavour Market Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2022

Market Analysis

USD Bn for Value and Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

Key Countries Covered

  • India
  • US
  • Germany
  • China
  • Japan
  • Denmark
  • Canada
  • Mexico
  • Poland
  • UK
  • Turkey
  • France
  • Italy
  • Spain
  • South Korea
  • Russia
  • Australia
  • Brazil
  • Argentina
  • South Africa

Key Segments Covered

  • Application
  • Type
  • Region

Key Companies Profiled

  • Ungerer Limited
  • Frutarom Industries Ltd
  • Wild Flavors and Specialty Ingredients
  • Excellentia International Firmenich SA
  • Symrise AG
  • Takasago International Corporation
  • Sensient Technologies Corporation

Report Coverage

DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Functional Flavour Market by Category

By Application, Functional Flavour Market is segmented as:

  • Functional Beverages
  • Confectionery
  • Functional Food
  • Bakery
  • Dairy Product
  • Others
    • Soups
    • Condiments
    • Sauces
    • Dressings

By Type, Functional Flavour Market is segmented as:

  • Synthetic Flavours
    • Citrus Flavour
    • Savoury Flavour
    • Fruit Flavour
    • Others
  • Natural Flavours
    • Essential Oils
    • Aroma Chemical
    • Botanical Extract

By Region, Functional Flavour Market is segmented as:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

Frequently Asked Questions

The Functional Flavour Market will reach nearly US$ 15.2 Bn by 2022.

The Functional Flavour Market is expected to rise at a CAGR of 3.9%.

US, China, UK, and Germany are the major countries driving the demand for Functional Flavour Market.

The China Functional Flavour Market will grow at 4.0% CAGR between 2022 and 2032.

The India Functional Flavour Market will grow at 3.9% CAGR between 2022 and 2032.

The UK Functional Flavour Market will grow at 6.2% CAGR between 2022 and 2032.

Ungerer Limited, Excellentia International Firmenich SA, and Sensient Technologies Corporation are the companies dominating the Functional Flavour Market.

The global demand for Functional Flavour Market is forecasted to surpass US$ 22.3 Bn by the year 2032.

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Nandini Roy Choudhury
Principal Consultant
LinkedIn
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Functional Flavour Market