During the forecast period, the worldwide floral flavour market is expected to grow at a moderate pace of 5%. In 2023, the market is currently valued at US$ 16,390 million. The floral flavour market is expected to reach a high of US$ 26,827.2 million by the year 2033. Future Market Insights experts have observed a historical CAGR of 2.2% for the relevant market. During the present year, the top three countries hold around 35% of the market.
The floral flavour market is anticipated to moderately expand during the forecast period. According to our researchers’ findings, the rising proclivity of customers to purchase clean-label goods is expected to contribute to an increase in demand for floral flavours, which are naturally-sourced ingredients.
Flower extraction can be used to obtain floral flavours. Flowers are extracted in a variety of ways. Hibiscus-infused beverages or drinks, such as hibiscus tea, can aid in the battle against cancer, reduce the risk of blood cancer, and reduce the risk of obesity. All of these distinguishing factors are boosting the global floral tastes market forward.
The global floral flavours market is classified into two applications: food and beverage. The beverage segment dominates the global floral flavours market among these two application categories. This is attributed to an increase in the demand for flavoured beverages. Additionally, increased demand for various health and sports drinks is propelling the global floral flavours market.
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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.
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.
FLORAL FLAVOUR MARKET TAXONOMY
The global floral flavour market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Raw Material
- Hibiscus
- Lavender
- Neroli/ Orange Flower
- Rose
- Elderflower
- Jasmine
- Cherry Blossom
- Chamomile
- Violette
Product
- Natural
- Organic
- Artificial
End Use
- Food
- Dairy
- Yogurt
- Ice-cream
- Others
- Bakery
- Sponge Cakes
- Cookies
- Breads
- Confectionary
- Snacks
- Fats and Oils
- Beverages
- Alcoholic
- Non-alcoholic
- Herbal Teas
- Soft Drinks
- Health Drinks
- Flavoured Water
- Others (Cigars, Tobacco, Pharmaceuticals, etc.)
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excl. Japan (APEJ)
- Middle East and Africa
- Japan
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FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL FLORAL FLAVOUR MARKET
How would the global market for floral flavour progress over the following years?
The global floral flavour market is poised for a robust CAGR over the period of forecast, 2019 – 2027. Towards the end of 2022, the market for floral flavours is most likely to surpass the million-dollar market in revenues.
Which trend is the most critical in shaping the growth of floral flavour market?
The food and beverage industry is witnessing an influx of floral flavours, greatly impacted and influenced by the shifting dietary patterns of urban consumer demographic. With the ever-growing concerns about health and wellness, consumers are inclining towards naturally-derived flavours in their food and beverage products.
Which consumer population is particularly the target of floral flavour market players?
Floral flavours are indicative of the micro-trend of premiumisation and sophistication which is prevalently followed by millennials. Food and beverage manufacturers are taking into account the changing preferences of the millennial consumer population.
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