Natural Flavors & Fragrances Demand in Food to Reach $960 Million in 2020

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Nov 03, 2016, 11:20 ET

CLEVELAND, Nov. 3, 2016 /PRNewswire/ -- The food market was the leading outlet for natural flavors and fragrances in 2015, accounting for nearly 34 percent of total demand at $760 million. Many variables affect the food industry and, in turn, demand for natural flavor blends, essential oils and natural extracts, and natural aroma chemicals. Demographics pertaining to age and ethnicity, as well as health and wellness trends, play an important role in shaping food preferences that affect flavor demand. These and other trends are presented in Natural Flavors & Fragrances, a new study from The Freedonia Group, a Cleveland-based industry research firm.

The study is available here http://www.freedoniagroup.com/industry-study/3476/natural-flavors-fragrances.htm

Flavor demand in the food market is forecast to advance 4.8 percent per year through 2020. Consumer preferences have a significant impact on the outlook for this market. Additionally, consumer attention to healthy eating, reinforced by the release of the 2015-2020 Dietary Guidelines for Americans by the USDA and the US Department of Health and Human Services, will continue to stimulate the development of more nutrient-rich, lower calorie foods. "Demand for natural flavors that can compensate for reduced sodium, sugar, and fat in foods will continue to be strong," states analyst Christine O'Keefe.

Dairy products represented the largest application for natural food flavors in 2015, supported by consumer preference for natural flavors in ice cream and yogurts, as well as growing popularity of yogurt products among American consumers. Demand in processed food will expand at a rate just above the average of the overall market, fueled by the increasing consumption of ready-to-eat meals and other convenience items that require added flavors to replace or enhance taste lost during processing. Recent efforts by food manufacturers to improve productivity have in some cases led to the use of techniques that can affect taste; manufacturers are forecast to shift their focus back to flavors now that they have achieved productivity goals.

Related studies:
#3424 Industrial & Institutional (I&I) Cleaning Chemicals (June 2016)
http://www.freedoniagroup.com/industry-study/3424/industrial-and-institutional-iandi-cleaning-chemicals.htm
#3397 World Flavors & Fragrances (March 2016)
http://www.freedoniagroup.com/industry-study/3397/world-flavors-and-fragrances.htm

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

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SOURCE The Freedonia Group