May 10, 2024 (MENAFN via COMTEX) --
(MENAFN - EIN Presswire)
Rising Demand for Healthy and Natural Products Increasing Use of Fruit Flavors in Food and Beverages and Personal Care Products: Fact Report
ROCKVILLE, MARYLAND, UNITED STATES, May 10, 2024 /EINPresswire / -- The global fruit flavor market is forecasted to reach a valuation of
US$ 782.1 million in 2024, as revealed in a research report by Fact, a market research and competitive intelligence provider. Worldwide sales of fruit flavors are projected to reach
US$ 1.23 billion by the end of 2034.
Growing use of fruit flavors in foods & beverages, including juices, candies, carbonated drinks, baked goods, and ice cream, is attributed to their ability to offer a fruity aroma and flavor profile. In addition, more individuals are becoming health conscious and are adopting healthy ingredients, additives, and flavors.
Consumers' inclination toward natural food products is also projected to lead to a steady increase in the demand for different types of fruit flavors.
Tropical fruit flavors, including pineapple, mango, and coconut, are used commonly in organic smoothies, snacks, and desserts, which is projected to contribute to the increased profit share of players. However, the side effects associated with the consumption of added flavors are projected to act as one of the key restraints for market growth.
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Key Takeaways from Market Study
The global fruit flavor market is estimated at
US$ 782.1 million in 2024. Global demand for fruit flavors is projected to reach a market valuation of
US$ 1.23 billion by the end of 2034. The market is projected to expand at 4.7% CAGR from 2024 to 2034.
The market in China is forecasted to expand at 5.1% CAGR from 2024 to 2034. The food & beverages segment is forecasted to account for 35.12% share of global market revenue by the end of 2034. Demand for stone fruit-based flavors is projected to increase at a CAGR of 4.8% and reach a value of
US$ 238 million by 2034-end.
"Constantly expanding food & beverage industry, cultural influences on culinary trends, and rising consumer preference for healthy and clean-label products are key factors driving the demand for fruit flavors," says a Fact analyst.
Rising Consumer Awareness About Health Benefits of Organic Products
Fruit flavors are increasingly incorporated into various food items and beverages in response to the high demand for functional food and flavored drinks. Bakery, confectionery, and dairy products are among the most widely consumed items that prominently feature fruit flavors as key ingredients. Moreover, the rising consumer awareness regarding the health advantages of organic and wholesome products is driving sales of fruit flavors.
Key Market Players
Some of the leading fruit flavor manufacturers are Givaudan, Archer Daniels Midland Company, DoÌ?hler, Fona International Inc., Kerry Group, Flavaroma, Sensient Technologies, Flavor Producers LLC, Takesago International Corporation, and Citromax Flavors.
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Emerging Trends: Fruit Flavor Market Dynamics Across East Asia, the United States, and China
East Asia is anticipated to capture a 25.7% market share in the fruit flavor industry by 2034, as per a recent research analysis by Fact. The region's increasing health consciousness is driving the demand for fruit flavors in specialty beverages like sugar-free drinks, functional beverages, and juices. Moreover, the preference for natural ingredients in personal care items is another significant trend shaping the fruit flavor market in East Asia.
In the North American market, the United States is projected to dominate with a 73.5% share by 2034. The growing consumer preference for organic products in the U.S. is expected to fuel the adoption of natural fruit flavors across various food and beverage categories. The rising health awareness among Americans is likely to further boost the demand for fruit flavors, thereby contributing to market growth.
China is anticipated to hold a substantial 74.2% share of the East Asian market by 2034. This dominance is attributed to the thriving cosmetics and personal care industry in the country. The increasing use of natural fruit flavors in cosmetics and personal care products aligns with the growing consumer demand for sustainable and natural ingredients. These factors are poised to drive market growth in China over the forecast period.
More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the fruit flavor market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on type (berries, citrus, melons, stone fruits, tropical fruits, apples & pears), form (liquid, powder), application (food & beverages, pharmaceuticals, personal care & cosmetics, nutraceuticals), and sales channel (direct sales [supermarkets/hypermarkets, specialty stores, online retail], retail sales), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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