The global encapsulated flavours market is set to witness growth at a CAGR of 5.4% and is anticipated to reach a valuation of around US$ 5 Billion by 2032.
Despite the rising desire for natural, wholesome products, the food industry still faces several challenges due to the poor quality of these ingredients. Businesses are focusing on putting a variety of safeguards in place to preserve the original flavour of their products in order to prevent such issues. Customers today enjoy flavouring a variety of food items, including cookies, ice cream, and biscuits, so it makes sense that demand for encapsulated tastes would increase. Furthermore, market expansion is likely to be driven by growing time restrictions and health consciousness. These factors will increase customer demand for quick and practical meals.
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Furthermore, customers have begun to favor fizzy and flavored drinks, which is projected to result in an increase in revenue growth for various encapsulate flavors across geographies. Consumers have opted to swap to drinks with natural flavorings due to the recognized negative health impacts of artificial flavoring. As a result, health-conscious consumers are opting for plant-based beverages over other drinks. This is a crucial aspect that is expected to propel the industry forward.
Key Takeaways from Market Study
- The encapsulated flavours industry is segmented based on product type, wherein flavor blends is anticipated to account for a sizeable portion of the market share over the forecast period.
- The North American encapsulated flavours industry is expected to witness a lucrative growth rate of 5.9% during the forecast period.
- North America is inferred to account for a major chunk of the global encapsulated flavours consumption through 2032
- Encapsulated flavours application in bakery and confectionary is expected to hold a market share of over 25% in the forecast period
“Demand for different mixtures of flavors is expected to benefit the growth of the encapsulated flavors market,” says a Future Market Insights analyst.
Competitive Landscape
The global encapsulated flavor market is primarily characterized by the presence of a large number of local and multinational companies operating in the global market, with multinationals accounting for approximately 70% of the market share, allowing them to act as price regulators in the industry. Moreover, key market players are investing heavily in R&D to develop innovative goods and are expanding their efforts to develop high-quality, cost-effective products that can be used in a variety of applications:
- Frutarom Switzerland Ltd, for example, employs cutting-edge technology such as Durarome, which protects flavors from oxidation while still preserving their freshness
- PLT Health Solutions, Inc. introduced a broad-spectrum anti-microbial activity, a new flavor encapsulating technology that helps extend shelf life and enhance flavor in a variety of food and beverage items
