Floral Flavor Market

Floral Flavor Market Outlook (2023 to 2033)

The global Floral Flavor Market is projected to have a moderate-paced CAGR of 5% during the forecast period. The current valuation of the market is USD 16,390 million in 2023.

The market value of the floral flavor market is anticipated to reach a high of USD 26,827.2 million by the year 2033. A historical CAGR of 2.2% has been recorded by the experts of Future Market Insights for the concerned market. The top three countries’ market share accounts for approximately 35% during the current year.

Attribute	Details
Floral Flavor Market Value (2023)	USD 16,390 million
Floral Flavor Market Anticipated Value (2033)	USD 26,827.2 million
Floral Flavor Projected Growth Rate (2023 to 2033)	5%

The global floral flavor industry has been witnessing an upsurge in recent years owing to the rising propensity of consumers toward purchasing clean-label goods, leading to an uptick in demand for naturally-sourced ingredients like floral flavors.

The demand for floral flavors is rising as they add a distinctive taste to drinks and food. Floral flavors are widely used in the food & beverages industry. This product is known to gain momentum in the global market due to its numerous health benefits, as flowers contain a wide range of antioxidants and other vitamins and minerals.

Besides these aspects, the expert analysts at FMI have revealed that the floral flavors add taste to the food and drinks without adding any extra calories to them, which is beneficial for the consumer’s health. Therefore, it is projected that the global floral flavor industry is likely to have significant growth during the forecast period.

A Contrast with the Existing Market Scenario

The floral flavor industry has gradually expanded over the past few years. There has been a steady rise in CAGR as per the analysis of FMI. The market has grown from a CAGR of 2.2% from 2018 to 2022 to a CAGR of 5% during the current year and is projected to advance at this pace through 2033.

The unprecedented surge in the growth rate can be attributed to the clue of consumer preference for buying products that have functional properties. They are getting more conscious about their health and consuming drinks that boost their energy levels and maintain their metabolism.

Consumers across the globe are inclining toward beverages with low sugar content and once made from natural ingredients.

Furthermore, they are also emphasizing other benefits like increasing their concentration levels, eliminating fatigue, and relaxation of their mind. Flavors like rose and lavender are highly preferred by consumers and are therefore boosting the sales of floral flavors in the food and beverage industry.

Market-o-nomics: Identification of Key Demand Drivers and Deterrents

The experts at FMI have analyzed the market in-depth and have identified the key elements making a major contribution to the expansion of the global floral flavor industry.

Besides the key growth propelling factors, a certain number of curbing elements have also been identified that are likely to inhibit the market's growth in the long run. Let’s take a stroll across the factors jigging up the market dynamics.

DRIVERS

The demand drives prevailing in the market are:

• Rising consumer choice for low-fat and low-sugar beverages is boosting the use of floral flavors in beverages and drinks in the F&B industry.
• Alterations in the regulations controlling permissible fat and sugar content in food products are impacting the demand for floral flavors.
• The food & beverages industry manufacturers are reformulating the recipes to be in tandem with consumer preference for natural ingredients.
• Soft-drink brands are emphasizing clean-label categories and the use of natural sweeteners like stevia.
• The high antioxidant content of flowers imparts numerous health benefits, along with enhancing the taste and aroma of the foods.

The demand for flavored confectionaries is rising, which is also fueling the growth of the floral flavor industry.

RESTRAINTS

Some of the curbing factors identified in the market are:

• Pricing irregularity of the products due to lack of proper regulations and growing competitive rivalry amongst the market players is likely to affect the market negatively during the forecast period.
• The extraction of the ingredients from the flowers is an expensive process, coupled with a higher cost of extraction filters, which is expected to inhibit the growth of the forum to a certain extent.

Category-wise Insights

Domineering Segments in the Floral Flavor Market

Hibiscus Flavor - By Flavor Type

This segment is identified to lead the flavor type category during the estimated period of study. This segment is likely to account for a market share of USD 197.0 million during the forecast period, says the market study conducted by FMI. The hibiscus flavor segment is projected to advance at a CAGR of 7.2% during the forecast period.

Some of the prominent products in hibiscus flavors are yogurt, tea, beer, and more. The gaining momentum of this segment can be attributed to factors like:

• They have properties to lower body temperature and treat heat diseases, coupled with skin healing properties.
• Rising consumer preference for low-sugar content with hibiscus flavor in correlation with healthy products is expected to propel the demand for this flavor further.

Clean-label Segment - By Product Type

The clean-label food or organic food segment is expected to dominate the global floral flavor industry. This segment is anticipated to advance at a CAGR of 7.8% during the forecast period.

The reasons responsible for the rapid propulsion of this segment are:

• Demand for organic food by consumers is wreaking havoc on the food and beverage industry, which is fueling the demand for natural floral flavors.
• Organic variations are gaining traction due to increasing instances of skin allergies and health deterioration due to chemical-based substances in food.

The development of healthier and environment-friendly alternatives by manufacturers is having a positive impact on the clean-label segment.

Regional Outlook

Market Dynamics in the Varied Regions Across the Globe

Region	North America
Statistics	North America accounted for the largest share during the base year. Leading Country: The United States (Market Share: 21.3%) The United States is expected to lead the North American floral flavor market through 2033. This current valuation of the United States market is more than USD 2.8 Billion in 2023.
Description	The responsible factors behind the dominance are as follows: The easy availability of artificial aromatics, essential oils, and plant extracts to enrich the flavor of foods and beverages is expected to boost the sale of floral flavors in this region. Manufacturers are launching new organic variants that substitute synthetic flavors and are projected to boost the market size for floral flavors.

Region	Asia Pacific
Statistics	The Asia Pacific region is expected to remain one of the key markets. Leading Country: India Forecast CAGR of India: 22.3% CAGR India is expected to lead the Asia Pacific floral flavor market through 2033. The current valuation of the Indian market is more than USD 1.4 billion in 2023.
Description	The responsible factors behind the propelling demand for floral flavors in India are: Natural flavors are being industrially produced by key players. Extracts from roses are used in multiple cuisines in India. Customers are willing to spend largely on good quality food with natural flavors, which is propelling the market size of floral flavors in the region.

Start-up Ecosystem

New Entrants Adding a New Edge to the Floral Flavor Market

The startups in the floral market are adding a new edge to the properties of an exquisite range of food and beverages by curating innovations beyond the imagination.

They are continually innovating the drinks consumed globally for inclining with taste buds of the consumers and the rising awareness about the health benefits obtained from floral extracts and flavors.

• The new entrants in the market are using floral flavors in niche applications such as hot beverages like chamomile tea, lavender lattes, soups, and tobacco products.
• They are paying keen attention and focus to organic variants and altering the mainstream flavors to strengthen their foothold in the global floral flavor market.

Top Start-Ups to Watch For

Flavor Solutions Inc. - This firm is a custom product and flavor development company that is combining the art and science of flavor technology with other food science technologies. They are adding more savory reaction flavors to diversify their product portfolio and increase the natural shelf-life of products.

McCormick Flavor Solutions - This start-up firm is extending a playfully experimental approach to the preservation of ingredients and enhancing the floral flavor profiles. They are offering new taste experiences by pickling and fermenting the natural extracts.

Competitive Landscape

How are the Biggies of the Industry Revolutionizing the Market?

Floral flavor manufacturers are exploring new technologies that fulfill the rising consumer demand for healthy food. Key manufacturers are developing new varieties of fat replacers with varying levels of fat content.

They are continually indulging in mergers and acquisitions and collaborations with prominent players in the market to gain a competitive advantage in the forum and further bolster the floral flavor market.

Recent Developments

• In 2018, Whole Foods declared floral flavors as one of the top trends with functional mushrooms and super powders, which has attracted more consumers to floral flavors.
• In December 2021, Givaudan completed the acquisition of DDW, the Color House, a USA-based natural color company, to expand the portfolio of its Global Taste and Wellbeing business. The acquisition was done as a part of the 2025 expansion strategy in the natural colors business.
• Corbion, a Netherlands-based firm that is popular for bioingredient-based foods, declared in 2021 that it has successfully acquired Granolife, a Mexican bakery functional blend provider. With this acquisition, the former company appreciated its geographical reach in the Mexican market.
• In July 2021, Wisconsin revealed that it had successfully obtained different assets from New Jersey, which is a United States-based food supplier. The transaction has enhanced the flavor portfolio of Sensient.

Some of the key companies proliferating in the market are

• Givaudan S.A.
• Symrise AG
• International Flavors & Fragrances Inc.
• Firmenich SA
• Sensient Technologies Corporation
• Takasago International Corporation
• Frutarom Industries Ltd.
• Robertet SA
• S H Kelkar and Company Limited
• International Taste Solutions Ltd.
• Dohler GmbH
• Blue Pacific Flavors, Inc.
• Others

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
• 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Raw Material
  • 5.1. Hibiscus
  • 5.2. Lavender
  • 5.3. Orange Flower
  • 5.4. Rose
  • 5.5. Jasmine
  • 5.6. Cherry Blossom
  • 5.7. Chamomile
  • 5.8. Violette
  • 5.9. Others
• 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
  • 6.1. Organic
  • 6.2. Synthetic
• 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
  • 7.1. North America
  • 7.2. Latin America
  • 7.3. Western Europe
  • 7.4. Eastern Europe
  • 7.5. South Asia and Pacific
  • 7.6. East Asia
  • 7.7. Middle East and Africa
• 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. Givaudan S.A.
  • 17.2. Symrise AG
  • 17.3. International Flavors & Fragrances Inc.
  • 17.4. Firmenich SA
  • 17.5. Sensient Technologies Corporation
  • 17.6. Takasago International Corporation
  • 17.7. Frutarom Industries Ltd.
  • 17.8. Robertet SA
  • 17.9. S H Kelkar and Company Limited
  • 17.10. International Taste Solutions Ltd.
  • 17.11. Dohler GmbH
  • 17.12. Blue Pacific Flavors, Inc.
• 18. Assumptions & Acronyms Used
• 19. Research Methodology