The liquid flavour system market is estimated to secure a valuation of US$ 5.5 Billion in 2023 and is estimated to rise to US$ 9.6 Billion by 2033. The market is anticipated at a CAGR of 5.8% during the forecast period. The factors accelerating the demand for liquid flavour systems are as follows-
The liquid flavours are mainly used to increase the flavour of the products like beverages, confectionary products, dairy and frozen food, and processed food. The increased consumer awareness and increased consumption of bakery, confectionary and savoury snacks products resulted in increased growth of the liquid flavour system.
Other factors supporting the market growth include increased disposable income, and increased spending on flavoured drinks. The growing urbanization and increased consumer inclination towards organic liquid flavours drive market growth.
On the regional end, the liquid flavour system market in North America is expected to account for the maximum share during the analysis period. The regional market is expected to grow in coming years, driven by increasing demand for fillings, toppings and the rapidly growing food & beverage industry.
Europe dominates the liquid flavour system market with the growth of processed food, dairy products and beverage industry in the region. Asia Pacific is the most significant region that secures a relevant global market share during the forecast period. the increased consumption of bakery and confectionary items in the region propels the market growth.
Some of the market players operating in the liquid flavour system market include flavour gourmet, Givaudan, Archer Daniels Midland Company, Bio Sun Flavours & Food Ingredients, Cargill Corporation, tate & lyle Plc, Gold Coast Ingredients Inc, Associated British Foods Inc, International Flavors & fragrance, Hanan Products, Olam International Limited, Kerry Group, Ingredion Corporation, McCormick & Company, Barry Callebaut, Bake & Joy, among others
The key manufacturers focus on developing liquid flavours to enhance the quality and shelf life of the product. The rising innovations and launching of liquid flavours as per consumers’ choices propels the market growth further. Liquid flavours manufacturers are doing mergers, and acquisitions, and expanding their business capabilities to capture the maximum share of the market globally
For instance, in November 2022- Olam food ingredients opens its new customer solution centre in Singapore. The new facility will enable OFI to collaborate with Brands, grocery retailers, and food service companies to create their next delicious and nutritious products for customers.
The liquid flavours system market is expected to gain traction in the coming years with the growing consumption of soft drinks and beverages. The increased application of liquid flavour systems in end-use industries stimulated market growth Start-ups are coming up with various strategies through research and development in the market.
For instance, founded in 2014 - Blue Sapphire Commodities is a manufacturer of food flavours that are used in various industries like bakery, confectionery and beverages.
| Data Point | Key statistics |
|---|---|
| Expected Market value in 2023 | US$5.5 Billion |
| Projected Market Value in 2033 | US$ 9.6 Billion |
| Growth Rate (2023 to 2033) | CAGR of 5.8% |
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According to the latest research by Future Market Insights, the liquid flavour system market is set to witness steady growth from 2021 to 2031. Liquid flavours are relatively inexpensive to store and have good solubility and dispersion in beverages. Therefore, these factors will help in the growth of the liquid flavour system market in the coming years.
Increasing demand for convenience and processed food and beverages as a result of changing customer lifestyles and shorter meal preparation times will help in boosting the demand for a liquid flavour system. Liquid flavour also adds nutritional value to foods, and an increase in consumer awareness regarding the consumption of natural ingredients and nutrition is likely to surge the demand for liquid flavour systems in niche applications.
In developing countries, ethnic drinks and food products are becoming more popular. Furthermore, the rise in demand for new flavours, as well as rare flavour combinations such as exotic and classic fruits, is expected to boost product demand.
The demand is expected to expand due to the advancement of new and creative flavours. Increased use of these flavours in a variety of food items as a result of the production process, as well as increased popularity and high demand from customers, are expected to propel its demand.
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Liquid flavour system is increasingly being used in beverages such as energy drinks, fruit juices and beer. Consumers are constantly selecting liquid flavours that smell and taste like fruits and also Liquid flavours are highly used in hotels, cafes and restaurants for making food products delicious and eye-catching and thus propelling their sales in the coming years.
Liquid flavours are applied to food and beverages to enhance the product's quality and taste. It gives the food a different flavour and makes it more filling for the customer. Organic and artificial liquid flavours are all being used more in food formulations to enhance nutritional aspects, shelf-life, and other properties. Thus, these factors are driving its sale across the globe.
It also has several applications in industries such as bakery and confectionaries, dairy and frozen foods, beverages, processed foods and others. These factors will also help in driving its sale.
The growth of the food processing industry in the USA has led the liquid flavour system market in the USA to account for the largest share in terms of value and is expected to expand rapidly over the forecast period. Increasing demand for various types of cuisines, owing to the presence of a diverse population in the USA and Canada, is also fueling the liquid flavour system market's growth.
Liquid flavours are used as fillings and toppings in food and beverages. And because of the increased demand for fillings and toppings, manufacturers are investing in creating visually appealing assortments. USA and Canada are the most heavily consuming area of these high-end goods in the world.
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Factors such as the increase in disposable income and rising preference for liquid flavours will help in driving the demand for liquid flavour systems in the coming years in Europe. Also, the strategic pricing of food products containing liquid flavours has enticed consumers with innovative selling concepts and has made a significant contribution to the liquid flavour system industries in Europe.
The expanding retail and e-commerce sectors are also expected to contribute to the liquid flavour system market's growth in Europe to some extent.
Some of the key market players involved in the liquid flavour system market are
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Liquid Flavour System Market
