Increasing demand for natural and clean label products, increasing awareness regarding the ill-effects of artificial colors & flavors, additional health benefits of certain natural colors & flavors have played a major role in boosting the natural food colors & flavors market globally. The market is projected to reach USD 7.79 Billion by 2020 at a CAGR of 7.0% from 2015 to 2020. The beverage and functional food and dietary supplement manufacturers form the target audience for this report, along with dietary supplements, frozen products, and bakery producers particularly in developed regions.
This report provides a full analysis of key companies and competitive analysis of developments recorded in the industry since 2010. In the report, market drivers, restraints, opportunities, and challenges have been discussed in detail. Leading players of the market such as Sensient Technologies Corporation (U.S.), Chr. Hansen Holding A/S (Denmark), Symrise AG (Germany), International Flavors & Fragrances Inc. (U.S.), Kerry Group Plc. (Ireland), Givaudan SA (Switzerland), Royal DSM N.V. (The Netherlands), Archer Daniels Midland Company (U.S.), and FMC Corporation (U.S.) have been profiled to provide an insight of the competitive scenario in the natural food colors & flavors market. Strategic expansions and new product launches have been the key strategies adopted by leading companies. Companies have also adopted strategies such as acquisitions, partnerships, joint ventures, and investments.
The caramel segment accounted for around 63% of the market share in 2014. The beverages segment accounted for around 21% of the market share in 2014. The beverages segment held around 48% of the market share in 2014.
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The global market was valued at USD 5.19 Billion in 2014 and is projected to grow at a CAGR of 7.0% from 2015 to 2020 to reach a value of USD 7.79 Billion. North America dominated the market in 2014 and accounted for the largest share in the total natural food colors & flavors market in 2014. The caramel segment was the largest for natural food color type whereas the essential oils segment accounted for the largest market share in natural food flavors market. Beverages accounted for the largest market in both, natural food colors as well as flavors market in terms of application, in 2014.
The global market is characterized by intense competition due to the presence of a large number of both large and small-scale firms. Numerous manufacturers, mainly small-to medium-sized, exist worldwide and have been producing natural food colors & flavors products similar in quality and quantity for decades.
Expansions, acquisitions, and new product launches are the key strategies adopted by market players to ensure their growth in the market. The market is dominated by players such as Sensient Technologies Corporation (U.S.), Chr. Hansen Holding A/S (Denmark), Symrise AG (Germany), International Flavors & Fragrances Inc. (U.S.), and Kerry Group Plc. (Ireland).
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