No doubt flavour is one of the most important attributes of the food products we eat in our daily life. Man does not eat simply to live but even more so lives to eat. Flavourings are focused on altering or enhancing the flavours of natural food product or creating flavour for food products that do not have the desired flavours for example bakery goods and other snacks. Flavour is generally defined in terms of three components; odour, taste and texture. Its characterization is concern with the similarities in human flavour perception using methods that designed to average out the differences. The flavour of foods may be classified as natural flavour (preexisting in diet particularly in fruits, vegetables and spices), process flavour (arising in end products as a result of conventional processes), compounded flavour (intentionally added flavouring), taste modifiers and abnormal taste and taints. Some of the flavouring materials produced by processing are chocolate, cheese, blue cheese, yogurt, wine, aroma chemicals etc. The flavour industry has become a vital element in the growth and success of food and beverage industries worldwide. The flavours industry remains very country specific and complex, with product formulations and flavours varying from country to country, as well as from region to region within countries. Processed foods, their flavours and textures, are adapted to local consumer preferences. Local or traditional foods have unique flavours evolving from the indigenous climate, land, etc. Generally speaking, trends in flavours closely mirror those in the packaged food and drink market. This includes the trends toward premium quality, savoury, natural and authentic, and health and wellness. The global flavour industry can be characterized as highly technical, specialized, and innovative. This industry is highly competitive and concentrated, compared to other product categories within the food and beverage market. The global flavours market is predicted to grow at a Compound Annual Growth Rate (CAGR) of 2% per annum.
A flavor is a very important entity of the food industry. It is primarily utilized to enhance and accelerate the taste, smell, and color of the products.
The major driving factor of global flavors market is growing demand for convenience food across the globe. Secondly, the demand for various flavors is increasing from the beverages industry which is expected to fuel the demand for flavors during the years to come. However, stringent rules and regulations imposed by regulatory bodies on flavors are likely to hinder the growth of the market. Furthermore, new raw material sources are projected to open new opportunities for flavor market in coming years.
The global market size in 2016 was estimated USD 9.2 billion and is estimated to increase at a compound annual growth rate (CAGR) of 3.5% and reach nearly USD 12 billion by 2022.
India flavor market is primarily considered as a fragmented market, owing to the presence of a large number of organizations ranging from multinational companies to domestic companies and small scale industrial units. Flavor market in India has enhanced at a substantial CAGR of around 10% in the last 5 years. The market is diversified across several
Fragrance families such as vanilla, butterscotch, exotic flavors, blackcurrant, kesar and others. The market was dominated by vanilla flavor which remained the largest demanded flavor of the flavor market in India. Flavor market in India has been segmented on the basis of types of applications which comprise beverages, bakery, confectionery, dairy, pharmaceuticals, tobacco and others.
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