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Beverage Flavoring System Industry Overview
The global beverage flavoring system market size was estimated at USD 4.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2020 to 2028.
The availability of a wide variety of beverages such as sparkling drinks, juices, energy drinks, flavored milk, mocktails, smoothies, tonic water, beer, wine, cider, cocktails, hard alcohol, alcohol-free cocktails, spiked sodas, alcohol-free beers, and spirits and their increasing consumption is driving the demand for beverage flavoring system.
A flavoring system refers to the combination of varied ingredients such as flavoring agents, flavor carriers, flavor enhancers, preservatives, emulsifiers, and stabilizers among others. These ingredients enhance the flavor or taste of alcoholic and non-alcoholic beverages. The increasing awareness about the various ingredients among manufacturers along with their respective functionalities is driving the market.
Gather more insights about the market drivers, restrains and growth of the Global Beverage Flavoring System Market
The U.S. market was dominated by non-alcoholic beverages in 2020 attributed to availability of variety of non-alcoholic beverages in the country such as juices, mocktails, smoothies, refreshing drinks, and nourishing drinks. The country has high consumption rates of beverages and the increasing manufacturing capability of a variety of beverages from the manufacturers in order to meet the changing consumer demand for non-alcoholic drinks.
The demand for drinks that can complement or satisfy the need for well-being is projected to create potential demand in efforts to boost immunity against coronavirus. These drinks consist of ingredients that contribute to a healthy lifestyle. Holistic product solutions that promote long-term benefits for mental, physical, and emotional well-being are estimated to exhibit potential growth over the forecast period from 2020 to 2028.
The continuously rising stress level of people across the globe are boosting demand for drinks that can provide relief or boost mind and mood are projected to create potential growth in the near future. The ingredients such as botanicals, adaptogens, CBD, and L-theanine are used in manufacturing relaxation drinks. The calming effect of these drinks on the body and mind is estimated to create potential opportunities over the forecast period from 2020 to 2028.
The rising trend of marketing drinks and food on social media in an effort to inspire others is anticipated to create growth over the forecast period from 2020 to 2028. Increasing experiments for unusual combinations to create evolved taste and appearance are boosting the market for beverage flavoring systems. Particularly, in the non-alcoholic section, mocktails range including fruity, floral, sour, and spicy flavors are gaining demand across meals to complement exquisite dishes.
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Beverage Flavoring System Market Segmentation
Grand View Research has segmented the global beverage flavoring system market based on ingredients, beverage type, flavor type, form, origin, and region:
Beverage Flavoring System Ingredients Outlook (Revenue, USD Million, 2017 - 2028)
- Flavoring agents
- Flavoring carriers
- Flavor enhancers
- Others
Beverage Flavoring System Beverage Type Outlook (Revenue, USD Million, 2017 - 2028)
- Alcoholic
- Non-alcoholic
Beverage Flavoring System Flavor Type Outlook (Revenue, USD Million, 2017 - 2028)
- Chocolate and browns
- Dairy
- Herbs botanicals
- Fruits vegetables
- Others
Beverage Flavoring System Form Outlook (Revenue, USD Million, 2017 - 2028)
- Dry
- Liquid
Beverage Flavoring System Origin Outlook (Revenue, USD Million, 2017 - 2028)
- Artificial
- Natural
Beverage Flavoring System Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Central South America
- Middle East Africa (MEA)
Market Share Insights
- November 2019: The company opened a new extension to its Nantong, China manufacturing facility particularly to support the production capacity of liquid flavors for dairy, beverages, and sweet goods.
- August 2018: ADM has opened a new regional office and state-of-the-art flavor and ingredient creation, application, development, and customer innovation center in Shanghai, China.
Key Companies profiled:
Some of the prominent players in the beverage flavoring system market include:
- ADM
- Givaudan
- Sensient Technologies Corporation
- Kerry Group
- International Flavors and Fragrances Inc.
- Firmenich SA
- Takasago International Corporation
- Flavorchem Orchidia Fragrances
- Tate Lyle
- MANE
- Döhler
- Symrise
Order a free sample PDF of the Beverage Flavoring System Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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