Global Fruit Flavors Market by Flavor Type (Berries Flavor, Citrus Flavor, Melons Flavor, Stone Fruits Flavor, Tropical Fruits Flavor, Apples and Pears Flavors, Others)
Industry: Food and Beverages
Published Date: March-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP30894
Newly-released Market analysis report by Persistence Market Research reveals that global sales of the Fruit Flavors Market in 2023 were held at US$ 0.76 billion. With a projected CAGR of 4.7% from 2024 to 2033, the market is expected to reach a valuation of US$ 1.2 Billion by the end of the forecast period. Powder-based fruit flavors are expected to be the highest revenue-generating type with a CAGR of over 4.6% from 2024 to 2033.
|
Attributes |
Details |
|
Global Market Size 2024 |
US$ 0.76 billion |
|
Global Market Size at End of Forecast (2033) |
US$ 1.2 billion |
|
Global Market CAGR (2024 to 2033) |
4.7% |
|
U.S. Fruit Flavors Market CAGR (2024 to 2033) |
3.6% |
|
Key Companies Covered |
|
As per the research of the Fruit Flavors Market by Persistence Market Research- a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 5.6% CAGR. With an absolute dollar opportunity of US$ 451 million, the market is projected to reach a valuation of US$ 1.2 billion by 2033.
Fruit flavors can be used in a wide range of food and beverage products, including carbonated drinks, juices, ice cream, candies, and baked goods, to provide a fruity taste and aroma. These flavors can be derived from natural sources such as fruits themselves, or they can be created artificially using synthetic flavoring compounds.
In 2020, global food flavors sales were around US$ 14.3 billion. The market is projected to reach US$ 20.1 billion by 2028, growing at a CAGR of 4.6%. Consumers are more health conscious and they are using healthy ingredients, flavors, and additives for the manufacturing of food. With the rise in the demand for food flavors, the market for fruit flavors is projected to expand during the assessment period.
The organic food market has been growing steadily in recent years, driven by increasing consumer demand for natural and healthy food products. Tropical fruit flavors such as mango, pineapple, and coconut are commonly used in organic smoothies, desserts, and snacks. In 2019, global organic food sales were around US$ 95 billion, which is expected to grow at a CAGR of 9.4% during the forecast period. Increasing demand for organic foods influences the market growth in the upcoming years.
Which Region is Projected to offer Significant growth in Fruit Flavors?
North America is a prominent market for fruit flavors with a market size of US$ 291.8 million in 2022 and is projected to become a market worth US$ 489.6 million by 2033.
Consumers in the region are becoming more health conscious with the use of healthy ingredients, and additives for the manufacturing of food and beverages. This also influences the market growth in the region.
United States Market Analysis:
The market in the U.S. is expected to grow to be worth US$ 381.9 million by 2033, with an absolute dollar growth of US$ 114.3 million from 2024 to 2033. The market in the country has grown at a CAGR of 4.1% from 2018 to 2022 and is expected to grow at a CAGR of 3.6% from the year 2024 to 2033.
According to the Organic Trade Association, the sales of organic food products in the United States had steady growth between 2018 and 2019. In 2018, organic food sales reached about US$ 47.9 billion, an increase of 5.9% from the previous year. In 2019, organic food sales continued to grow, reaching over US$ 55.1 billion, a 15.7% increase from 2018. Fruit flavors are commonly used in organic foods to enhance the taste and aroma of the products. The market in the United States is expected to continue growing in the coming years, as consumers become more health-conscious.
United Kingdom Fruit Flavors Market Analysis:
The market in the United Kingdom is expected to grow to be worth US$ 56.6 million by 2033, with an absolute dollar growth of US$ 18.1 million. The market in the country has grown at a CAGR of 4.4% from 2018 to 2022 and is expected to grow at a CAGR of 3.9% from 2024 to 2033.
According to research, in 2018, the total sales of bakery products in the UK were around US$ 12.3 billion, which was a 2.3% increase from the previous year. And in 2019, the total sales of bakery products in the UK were about USD 12.4 billion, which was a 0.8% increase from the previous year. The growing demand for bakery products such as fruit bread, cakes, muffins, and scones which are further expected to drive the market growth.
China Fruit Flavors Market Analysis:
In China, the market is expected to grow to be worth US$ 104.3 million with an absolute dollar growth of US$ 44.4 million till 2033. The market in China has grown at a CAGR of 7.1% from 2018 to 2022 and is expected to grow at a CAGR of 5.7% from 2024 to 2033.
In 2020, the cosmetics and personal care industry in China was valued at about US$ 57 billion. This market size represents a growth rate of around 6.1% compared to the previous year. The use of natural fruit flavors in personal care and cosmetics products has increased in recent years due to consumer demand for natural and sustainable ingredients. This is expected to influence market growth in the upcoming years.
Japan Fruit Flavors Market Analysis:
In Japan, the market is expected to grow to be worth US$ 88.1 million with an absolute dollar growth of US$ 29.6 million. The market in Japan has grown at a CAGR of 4.8% from 2018 to 2022 and is expected to grow at a CAGR of 4.2% from 2024 to 2033.
According to research, in 2019, the beer market in Japan had a sales volume of around 2.7 billion liters and the total sales volume of wine was about 47 million liters. Fruit flavors are commonly used in alcoholic beverages to enhance their taste and appeal to consumers. Citrus fruits such as lemon, lime, and orange are commonly used in alcoholic beverages such as cocktails, beer, and wine. The increase in the demand for alcoholic beverages influences the market growth in the future.
South Korea Fruit Flavors Market Analysis:
The market in South Korea is expected to grow to be worth US$ 49.1 million by 2033, with an absolute dollar growth of US$ 19.3 million. The market in South Korea has grown at a CAGR of 6.3% from 2018 to 2022 and is expected to grow at a CAGR of 5.1% from 2024 to 2033.
According to research, the natural flavors market in South Korea was valued at about US$ 1.2 billion in 2019, with a compound annual growth rate (CAGR) of 5.2% during the forecasted period. Consumers are becoming more health conscious and they prefer specialty beverages such as fruit juices, sugar-free beverages, sports drinks, and functional drinks. An increase in the demand for natural flavors influences the market growth in the upcoming years.
Which form of Fruit Flavors is Projected to Witness Significant Growth?
The powder form of fruit flavors is projected to witness the fastest growth with a CAGR of 4.6% from 2024 to 2033.
Powdered fruit flavors are easy to use and convenient, as they can be quickly dissolved in water or other liquids to create flavored beverages or added to food products as flavoring agents. They can be more cost-effective compared to other forms of fruit flavors, as they are easier to transport and store, and have a longer shelf life. Thus, the powder form of fruit flavors is projected to witness significant growth in the market.
Through which Application Market is Projected to Witness Significant Growth?
Fruit flavors demand through food & beverages is projected to witness the fastest growth with a CAGR of 4.5% from 2024 to 2033. Fruit flavors have a variety of applications in food and beverages, as well as in other industries such as pharmaceuticals, cosmetics, and personal care.
This growth can be attributed to several factors, including increasing consumer demand for natural and healthy products, as well as the growing popularity of flavored and functional beverages. Fruit flavors are a key ingredient in a wide range of food and beverage products, including carbonated drinks, juices, dairy products, confectionery, and bakery products. Overall, the market is expected to continue to grow in the coming years, driven by increasing consumer demand for natural and healthy products, as well as advancements in technology and product innovation.
Key players in the market are Archer Daniels Midland Company, Givaudan, DÖHLER, MANE, Fona International Inc., Flavaroma, Kerry Group, Sensient Technologies, Takasago International Corporation, FLAVOR PRODUCERS LLC, and Citromax Flavors.
A few of the recent developments in the fruit flavors market are:
By Flavor Type:
By Form:
By Application:
By Sales Channel:
By Region:
To know more about delivery timeline for this report Contact Sales
The global market size is estimated to be valued at US$ 767 million in 2023.
The market was reported at US$ 726 million in 2022.
The market is expected to reach a valuation of US$ 1.2 billion in 2033.
The market registered a CAGR of 5.6% over the last 4 years.
The market is projected to witness a CAGR of 4.7% from 2023 to 2033.
Demand for powder-based fruit flavors is projected to witness a significant surge with expected growth at a CAGR of 4.6% by 2033.
Food & Beverages is the top application of fruit flavors and revenue through this application is projected to witness a CAGR of 4.5% by 2033.
The market in the United States is projected to witness a market size of US$ 381.9 million and is expected to grow at a 3.6% CAGR from 2023 to 2033.
Key players in the market are Archer Daniels Midland Company, Givaudan, DÖHLER, MANE, Fona International Inc., Flavaroma, Kerry Group, Sensient Technologies, Takasago International Corporation, FLAVOR PRODUCERS LLC, and Citromax Flavors.
