The latest report by IMARC Group, titled “India Flavors Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the India flavors market reached a value of INR 3,569 Crore in 2021. Looking forward, IMARC Group expects the market to reach INR 5,978 Crore by 2027, exhibiting at a CAGR of 9.0% during 2022-2027.
India Flavors Market Overview:
Flavors refer to additive substances mainly utilized to enhance the taste and smell of various products, ranging from confectionery items to health supplements. Based on the derivates, they are divided into artificial, natural identical, and natural variants. Some commonly used natural ingredients of flavors include herbs, barks, spices, flowers, etc., whereas chemical additives include diacetyl, ethyl maltol, ethyl propionate, etc. Flavors are extensively utilized in beverages, packaged snack items, baked goods, dairy products, pharmaceuticals, etc. They also find widespread applications in several non-food applications, such as personal care products, cosmetics, pet foods, animal feed, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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India Flavors Market Trends:
The escalating demand for packaged and ready-to-eat (RTE) food items and beverages is among the primary factors driving the India flavors market. Besides this, the growing need for flavoring ingredients in ice creams, smoothies, bakery and confectionery items, energy drinks, etc., is further augmenting the market growth. Apart from this, the elevating popularity of various shelf-stable food products, such as cake mix, RTD tea, coffee, noodles, soups, juices, etc., particularly among Millennial consumers, is also catalyzing the market across India.
Moreover, the implementation of strict regulations by the Food Safety and Standards Authority of India (FSSAI) regarding the quality of flavors used in processed food products is acting as another significant growth-inducing factor. Furthermore, the emerging trend of vegan and organic variants that contain plant-based derivatives is expected to bolster the India flavors market in the coming years.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Doehler India Pvt.Ltd
- Firmenich Aromatics (India) Private Limited
- Flavaroma Flavors and Fragrances Private Limited
- Givaudan (India) Private Limited (Givaudan SA)
- Gupta & Company (P) Limited
- International Flavors and Fragrances India Pvt. Ltd
- Kerry Ingredients India (P) Ltd
- Keva Flavours Pvt. Ltd. (S. H. KELKAR & Co. Ltd.)
- MANE Flavor & Fragrance Manufacturer
- Oriental Aromatics Limited
- Sacheerome Private Limited
- Symrise Private Limited (Symrise AG)
- Synthite Industries Ltd
- Ultra International Limited
Key Market Segmentation Breakup by:
- Nature Identical
- Savouries and Snacks
- Confectionery Products
- Bakery Products
- Dairy and Frozen Desserts
Breakup by Region:
- South India
- North India
- West and Central India
- East India
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Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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