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Strategy Briefing
Flavours: Tasting Success Through Innovation (Part One)
Jun 2016
US$1,325Added to Cart
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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
About This Report
New Report Guarantee
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Flavour is an essential tool for food and drinks producers, not only in delivering palatability but also in positioning a product or targeting a specific audience. Part One of this 2-part report presents background on the flavour industry and looks at global flavour market trends, quantifying and segmenting the market by region and by major product category.
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Overview
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Consolidating industry creates flavour giants
Consolidation in the international flavours industry has created several flavour giants with the financial wherewithal to continue driving advances.
Focus switches to regional investment
After a number of years of consolidation, the industry now appears to be switching focus to expanding regional coverage and investing in local operations.
A market of almost 1.3 million tonnes
Global demand for food and beverage flavours totalled 1.3 million tonnes in 2015, following a CAGR of 2.1% since2011.A solid CAGR of 2.3% is forecast over 2015-2019, taking volume to 1.4 million tonnes.
Beverages dominate global demand
Alcoholic and soft drinks accounted for a combined share of 62% of global flavour volumes in 2015, well ahead of dairy and ice cream with 16%.
Snacks, sauces and dairy drive growth
The snacks, sauces and dairy categories are forecast to show strongest growth over 2015-2019 and should continue to attract innovation.
Eastern regions drive volume growth…
Regionally, the Middle East and Africa and Asia Pacific will lead the way in flavour growth over 2015-2019, with forecast CAGRs of 4.8% and 4.5%, respectively.
…but the West still delivers on innovation
Although the markets of North America and Western Europe will be relatively static in terms of overall volume, these will continue to drive innovation in flavour choices so remain an important focus for flavour houses.
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Request more informationTable of Contents
Introduction
Scope
Key findings
SWOT: Flavours
Industry Background
Supply drivers
Givaudan leads but competition is fierce among following firms
Five companies register annual flavour sales of US$1 billion+
Industry consolidation slows, but Frutarom keeps buying
The Global Flavours Market
Flavours settle into steady growth
Beverage applications take over 60% of volume
Snacks, sauces and dairy drive flavour growth
Asia Pacific is now the largest market for flavours
Asia and Middle East drive overall flavour volumes
Regional differences in key flavour applications
China adding most volume, followed by the US and Japan
Asia Pacific: Snacks is showing fastest growth rate
North America: Only modest growth but innovation is important
Western Europe: Dairy and snacks are only real growth areas
Latin America: Snacks and dairy are fastest, soft drinks still strong
Category Analysis: Alcoholic Drinks
RTDs and speciality spirits drive flavour use in alcohol
Liqueurs strong; local specialities are important in some regions
Category Analysis: Soft Drinks
New-generation soft drinks drive flavour growth
Carbonates lead but there is regional variation in other applications
Category Analysis: Dairy and Ice Cream
Dairy beverages are strong growth markets for flavours
Yoghurt leads the way for dairy flavours in most regions
Category Analysis: Sauces
Stocks and cooking bases are the dominant sauce applications
North America sees most diversified flavour use in sauces
Category Analysis: Confectionery
Fastest growth in sugar confectionery subcategories
Wide regional variation in the use of confectionery flavours
Category Analysis: Snacks
New concepts and old favourites both see strong flavour growth
Vastly differing regional trends in demand for snack flavours
Recommendations
Different approaches to different regions
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.