Global Plant-Based Natural Flavor Market Size, Share, and COVID-19 Impact By Product Type (Liquid, Powder, ands Paste), By Application (Beverages, Bakery and Confectionery, Dairy and Frozen Desserts, Savory and Snacks, and Others), By Source (Fruits, Vegetables, Herbs and Spices, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
Industry: Food & BeveragesGlobal Plant-Based Natural Flavor Market Insights Forecasts to 2033
- The Global Plant-Based Natural Flavor Market Size was estimated at USD 6.2 Billion in 2023
- The Market Size is expected to Grow at a CAGR of around 7.46% from 2023 to 2033
- The Worldwide Plant-Based Natural Flavor Market Size is Expected to Reach USD 12.73 Billion by 2033
- Asia-Pacific is expected to Grow the fastest during the forecast period.
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The Global Plant-Based Natural Flavor Market Size Was worth around USD 6.2 Billion in 2023 and is predicted to grow to around USD 12.73 Billion by 2033 with a compound annual growth rate (CAGR) of 7.46% between 2023 and 2033. The market is driven by the growing consumer demand for clean-label and organic food, as well as rising health awareness and the trend towards vegetarianism and veganism.
Market Overview
The plant-based natural flavor market refers to are completely from plant sources like fruits, vegetables, herbs, spices, or other botanicals. They are derived through natural processes such as extraction, distillation, or fermentation and have no synthetic or animal-derived ingredients. Plant-based natural flavor offers great growth potential fueled by demand for clean-label and organic foods. Consumers are increasingly health-focused and actively seeking food and beverage products that do not contain synthetic additives and artificial flavors. Furthermore, the trend is providing a profitable platform for plant-based natural flavors since manufacturers are endeavouring to match the growing requirement for natural and healthy ingredients. The growing numbers of vegan and vegetarian populations, combined with increased sensitization towards plant-based diets owing to health effects, equally stimulate natural flavors. Moreover, as more people are seeking plant-based food, demand for vegan flavorings is growing. This is primarily due to increased demand for health-conscious food, as well as because of the perception that traditional flavorings have bad environmental implications. Consequently, the food industry has been reacting with the launch of a range of vegan flavors as a response to this rising trend.
Report Coverage
This research report categorizes the plant-based natural flavor market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyzes the key growth drivers, opportunities, and challenges influencing the plant-based natural flavor Market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the plant-based natural flavor market.
Global Plant-Based Natural Flavor Market Report Coverage
Report Coverage | Details |
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Base Year: | 2023 |
Market Size in 2023 : | USD 6.2 Billion |
Forecast Period: | 2023-2033 |
Forecast Period CAGR 2023-2033 : | 7.46% |
2033 Value Projection: | USD 12.73 Billion |
Historical Data for: | 2019-2022 |
No. of Pages: | 210 |
Tables, Charts & Figures: | 100 |
Segments covered: | By Product Type (Liquid, Powder, ands Paste), By Application (Beverages, Bakery and Confectionery, Dairy and Frozen Desserts, Savory and Snacks, and Others), By Source (Fruits, Vegetables, Herbs and Spices, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) |
Companies covered:: | Rolls-Royce Holdings plc, Safran S.A., Meggitt PLC, Thales Group, Lufthansa Technik, Embraer S.A., Pratt & Whitney, BAE Systems, Northrop Grumman Corporation, SITAONAIR, Curtiss-Wright Corporation, FLYHT Aerospace Solutions Ltd., GE Aviation, AeroMechanical Services Ltd., and Others |
Pitfalls & Challenges: | COVID-19 Impact, Challenges, Future, Growth, & Analysis |
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Driving Factors
The plant-based natural flavor market is driven by some major trends. The change in food consumption patterns towards natural and healthier food products has largely driven the demand for natural plant-based flavors. Furthermore, with growing awareness of the health hazard posed by artificial ingredients and synthetic additives, there has been an uptrend in moving towards natural alternatives derived from nature. Moreover, natural plant-based flavors, derived from fruits, vegetables, herbs, and spices, are viewed as safer and healthier alternatives, encouraging food and beverage companies to add them to their products. This movement is strongest among millennials and Gen Z, who are most concerned about what they eat and how it affects health and the environment. Additionally, the growing incidence of lifestyle diseases like obesity, diabetes, and cardiovascular diseases has also supported the growth of plant-based natural flavors.
Restraining Factors
The plant-based natural flavor market encounters certain difficulties that would restrain its development. The high production and procurement cost of plant-based natural flavors is one of the major limiting factors. Natural flavors, which are plant-based, tend to be processed and extracted using specialized procedures, resulting in a higher production cost than synthetic flavorings.
Market Segmentation
The plant-based natural flavor market share is classified into product type, application, and source.
- The liquid segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on components, the plant-based natural flavor market is segmented into liquid, powder, and paste. Among these, the liquid segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is due to the marketplace, through their simplicity of inclusion in many food and beverage commodities. Plant-based natural flavors in liquid form are extensively utilized for use in beverages, dairy foods, and savory foods because they can be incorporated into a product without changing the taste itself.
- The beverage aviation segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on application, the global plant-based natural flavor market is divided into beverages, bakery and confectionery, dairy and frozen desserts, savory and snacks, and other. Among these, the beverage segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by the growing need for natural and healthy beverages. Additionally, the trend towards functional beverages that provide health benefits such as energy enhancement, detoxification, and relaxation further drives the demand for natural flavors.
- The fruits segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the source, the global plant-based natural flavor market is categorized into fruits, vegetables, herbs and spices, and others. Among these, the fruits segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segment's growth is attributed mainly to their natural sweetness and extensive variety. Natural flavors derived from fruits are extensively utilized in dairy products, bakery goods, and beverages to enhance their flavor and create a refreshing taste profile.
Regional Segment Analysis of the Plant-Based Natural Flavor Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is anticipated to hold the largest share of the plant-based natural flavor market over the predicted timeframe.
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North America is anticipated to hold the largest share of the plant-based natural flavor market over the predicted period. The dominance is due to the high levels of consumer understanding and the visibility of top food and beverage industry players. Furthermore, the region includes Canada and the United States, driven by a heavy emphasis on well-being and wellness. Rising interest in clean-label products and strong growth in interest in plant-based diets are both major drivers in the North American market growth.
Asia-Pacific is expected to grow rapidly in the plant-based natural flavor market during the forecast period. The market in the region is driven by the increasing disposable incomes, shifting dietary habits, and growing urbanization. Markets like China, India, and Japan are among the major markets in this region. The increased popularity of international food trends and Western food trends are driving demand for plant-based natural flavors in Asia Pacific.
Competitive Analysis:
The report offers an appropriate analysis of the key organization markets/companies involved within the plant-based natural flavor market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, business strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Rolls-Royce Holdings plc
- Safran S.A.
- Meggitt PLC
- Thales Group
- Lufthansa Technik
- Embraer S.A.
- Pratt & Whitney
- BAE Systems
- Northrop Grumman Corporation
- SITAONAIR
- Curtiss-Wright Corporation
- FLYHT Aerospace Solutions Ltd.
- GE Aviation
- AeroMechanical Services Ltd.
- Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In March 2022, Givaudan introduced PrimeLock+, a patent-pending, natural, vegan-friendly complete solution that replicates animal fat cells, allowing food manufacturers to bring plant-based product development and consumer satisfaction to the next level.
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the plant-based natural flavor market based on the below-mentioned:
Global Plant-based Natural Flavor Market, By Product Type
- Liquid
- Powder
- Paste
Global Plant-based Natural Flavor Market, By Application
- Beverages
- Bakery and Confectionery
- Dairy and Frozen Desserts
- Savory and Snacks
- Others
Global Plant-based Natural Flavor Market, By Source
- Fruits
- Vegetables
- Herbs and Spices
- Others
Global Plant-Based Natural Flavor Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
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1. What is the CAGR of the plant-based natural flavor market over the forecast period?The global plant-based natural flavor market is projected to expand at a CAGR of 7.46% during the forecast period.
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2. What is the market size of the plant-based natural flavor market?The global plant-based natural flavor market size is expected to grow from USD 6.2 billion in 2023 to USD 12.73 billion by 2033, at a CAGR of 7.46% during the forecast period 2023-2033.
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