Surpassing global market revenues of US$ 850 Mn in 2019, sales of floral flavours will see momentous growth over the course of following years. During 2019 – 2027, global floral flavour market is poised for a CAGR of over 7%, as projected by a new Future Market Insights (FMI) study.
Floral Flavors Market
Consumers are showing interest in unconventional and authentic flavours in their food and beverage products offering unique mouthfeel. The number of products containing floral flavours has increased multifold from 2015-2018, as they account for a sensorial effect and deliver novel and interesting taste experiences to consumers.
Key Takeaways – Floral Flavour Market Study
- Consumers seek products that have their roots in a pre-industrialized food system that is centered around whole, natural, and unrefined ingredients. Floral flavours match the growing consumer’s interests in authenticity of their products. Thus, floral flavours are witnessing a surge in demand.
- In 2019, Firmenich SA, a privately-owned flavour and fragrance company, declared hibiscus as the Flavour of the Year, based on the increasing appeal of usage of hibiscus in food and drinks. Hibiscus is gaining traction in the flora flavour industry due to its appealing attributes, like the pleasant aroma coupled with a touch of tangy profile.
- Besides, the hibiscus-based floral flavour is gaining popularity in applications such as beer, yogurt, chocolates, and tea, especially in the United States, Mexico, Brazil, and Denmark, with growth also taking place in Italy and Spain.
- Beverages sector contributes more than half of the total floral flavour market share. Floral flavours are appearing in revitalizing, healthy product launches. Lavender, rose, jasmine, elderflower, and hibiscus flavours are witnessing significant demand, predominantly for use in soft drinks.
- Frequent new launches in the alcoholic beverages category are progressively featuring floral flavours to gain greater consumer traction and achieve marketing differentiation.
- Europe and North America will be significant in the global floral flavours market over the forecast period. The demand for floral flavours has especially impacted the European flavour industry.
Consumers are increasingly looking for healthier, authentic, and natural-tasting infused beverages, fusion drinks, and floral-infused RTD coffee. Thus, new entrants seeking to establish their position in the floral flavours market must focus their efforts on the beverage industry.
Botanicals Trending Floral Flavour Space
New floral flavours are emerging to witness increasing demand from the food and beverage industry. With an increasing assortment of floral flavoured mixers and edible flowers, food and beverage manufacturers are experimenting with amalgamation of floral flavours to eventually create unique recipes. The increase witnessed in manufacturers’ investments into floral flavours is indicative of the fact that the botanical flavour trend is here to stay in the long run.
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Europe Remains Important Market for Investors
European markets are rapidly witnessing new product launches featuring infused floral flavours in vast products ranging from chocolates, snacks, yogurts, beverages, and many more. In the United Kingdom, Rowntree released fruit and flower-infused pastilles, whereas, in Germany, Alpro launched orange blossom-flavoured apricot soy yogurt. Fermè, an Italian fruit supplier company, launched vegan cheese with fermented cashews preparation, infused with flowers and herbs in the U.K.
Manufacturers Augmenting R&D Investments to Develop Application-specific Flavours
Key players operating in the flavour industry are investing more in research and development activities to upscale their floral flavour production capacity and to provide consumers with unique blends of floral flavours. Flavour manufacturers are strengthening their partnership with end-user industries to meet the growing demand for innovation in food and drink offerings.
- In April 2016, Givaudan S.A., a leading flavour manufacturing company in Switzerland invested US$ 126Mn to open an innovation center in Switzerland.
- In July 2016, Takasago International Corporation invested towards a new development center for flavours and fragrances in Mexico, to enhance its product portfolio and presence in Latin America.