Botanical flavors are extracts from fruits, leaves, flowers, seeds, barks, spices and from many other plant materials. Botanical flavors have wide application in food and beverage industry as it used to enhance the flavor, taste and richness of products including bakery, dairy, savory, confectionery, juices, drinks and alcoholic drinks. Increasing demand of health conscious consumers in the global level market regarding consumption of healthy and nature-based products are expected to drive the market growth of botanical flavors over the forecast period. Currently, the majority of demand for botanical flavors accounts to North American and European market.
Botanical Flavors: Growth Drivers
Some of the key drivers which are influencing the demand for botanical flavors in the global level market are from the side of food and beverage manufacturers as they used these flavors as natural ingredients and functional ingredient in their food recipes. Botanical flavors have wide application in the beverage industry, companies are offering new beverages and using botanical flavors to make improvement in their existing products. Moreover, it has healthy attributes that help the companies to meet consumers demand related to healthy and organic food products. In the global level market, the beverage industry is facing tough competition due to innovation and formulation of nutritional beverages as companies are focusing on offering health benefit and flavored drinks.
Usage of botanical flavors in food and beverage offers great taste and natural flavor and enriched the nutritional value of products. On the other side, the demand for botanical flavors is also increasing among the consumers who are seeking for enhanced health benefit and nature based products. Botanical flavors have nutritional value including protein, vitamin, and other minerals. Moreover, consumers are experiencing distinctive natural taste while eating and drinking.
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Botanical Flavors: Market Segmentation
Botanical flavors market segment has been segmented on the basis of different segments. On the basis of extraction, the botanical flavor market is segmented by extraction which includes fruits, leaves, seeds, barks and others (herbs and roots). Among this segment, fruits and leaves segment are expected to show robust growth over the forecast period. Another segment is on the basis of form and it is segmented in form of solid, fluid and powdered form. The further botanical flavor market is also segmented on the basis of application which is segmented in food, beverage and personal care industry. On analyzing the demand for botanical flavor on graph, it shows that majority of the demand for botanical flavor is from food and beverage industry.
Further market segment of the food industry is sub-segmented into the bakery, dairy, savory and confectionery products and beverages is sub-segmented into alcoholic and non-alcoholic beverages as in beverage industry it is used in preparing juices, tea, energy drinks, wines, beer etc. Using of botanical flavors in food and beverages is one of the natural ways to enhance the flavor and taste of food recipes. Further in the personal care industry, botanical flavors have application in cosmetics, hair care, and skin care products. Currently, in cosmetics and personal care product market, the demand for products which includes natural ingredient and flavor has increased due to skin care problems. Adding botanical flavors in personal care products, makes the quality of product better and offer benefits such as healthier hair and softer skin.
Botanical Flavors: Regional Outlook
On the basis of regional segment, market of botanical flavors is segmented in five different regions: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, japan and Middle East and Africa. It is expected that North America and Europe account to highest growth in terms of both volume and value over the forecast period.
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Botanical Flavors: Key Players
Some of the key players that are operating in the botanical flavor market: Synergy Flavors, Bell Flavors & Fragrances GmbH, Parker Flavors, Inc., Archer Daniels Midland Company, Kanegrade Limited, Carrubba Incorporated and Sapphire Flavors & Fragrances.