The global encapsulated flavors and fragrances market surged from US$ 3.99 billion in 2022 to an estimated US$ 7.1 billion by 2023, growing at a 5.5% CAGR till 2033. Increased demand from various industries, particularly food and beverage, fueled this rapid expansion due to the enhancement of flavor and preservation of nutritional value.
A recent report by Future Market Insights anticipated that the global market for encapsulated flavours and fragrances would be worth US$ 3.99 billion in 2022. The need for encapsulated flavours and fragrances in the food and beverage, cleaning products, and other end-use industries may be the reason for the market’s growth. It is anticipated to have produced US$ 7.1 billion by 2023, growing at a CAGR of 5.5% between 2023 and 2033.
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Chemically produced foods can have the flavours of fruit and vegetable sections without sacrificing their nutritional value, giving them a more natural appearance. Encapsulated flavour and fragrance manufacturers’ profit margins have shrunk as a result of increased demand from processors, retailers, and their private-label brands. Even though the market for encapsulated flavours and scents is growing as a result of the trend towards high-quality ingredients, there is still a demand for inexpensive tastes in the food and beverage industry.
The market has recently grown more well-known due to the rising demand for natural and authentic flavours and fragrances in a variety of end-use applications, including laundry detergents, home care products, and the food and beverage industry, including beverages, instant desserts (frozen food), and household care products. A wide range of meals and drinks contain flavouring additives. According to an estimate by FMI, the market for beverage flavourings is expected to expand dramatically over the next ten years. Sales of encapsulated tastes and scents will increase alongside those of beverage flavouring due to the rising demand for packaged beverages as well as sports and energy drinks.
Key Takeaways from this Market Study:
- Over the five-year period from 2018 to 2022, the market for encapsulated flavors and fragrances expanded at a CAGR of 4.2%.
- The most popular product category in 2022 will be flavor mixes of encapsulated tastes and scents, which will have a commanding share of around 57.1%.
- The most popular manufacturing technique is mechanical, with a dominating share of over 78.7% in 2022.
- In 2022, the market for encapsulated flavors and fragrances saw a maximum share of about 68.8% from the manufacturing of food and beverages.
- In 2033, it is expected that the United States would have more than 88.5% of the market in North America.
- In 2023, it is anticipated that the market for encapsulated tastes and fragrances in Germany will be worth US$ 475.9 million.
“The global market for encapsulated tastes is expected to develop as a result of rising health consciousness and the popularity of ethnic cuisine and beverages, which integrate the demand for spicier, hotter, and more dramatic flavors,” – remarks an analyst at FMI.
Competitive Landscape:
Manufacturers in the global market for encapsulated flavors and fragrances are concentrating on enhancing their online presence to reach a larger audience of customers. They spend money on research and development to find solutions that are affordable.
Prominent players in this market are:
- Cargill Inc.
- Firmenich Incorporated
- Givaudan
- Ingredion Incorporated
- International Flavors and Fragrances (IFF)
- Kerry Group
- Royal DSM
- Sensient Technologies
- Symrise AG
- Tate & Lyle PLC
- Others
Some key developments of the leading companies in this market are:
- EnVantec microencapsulation is employed by AIDP Inc., a firm that manufactures food and beverages. Non-GMO as well as vegetarian starch-based technology is used in this process. EnVantec is a clean label solution with outstanding stability over a 2-3 year period since the designed composition is devoid of preservatives as well as antioxidants.
- Symrise inaugurated its largest single investment in May 2020 and also invested US$23.64 million in the development of a new flavoring and fragrance production facility in Nantong, China. Symrise is clearly indicating future expansion in the area with this investment.
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More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global encapsulated flavors and fragrances market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the encapsulated flavors and fragrances market, the market is segmented on the basis of encapsulated flavors and fragrances by product type (flavor blends, fragrance blends, essential oils & natural extracts), technology (mechanical, chemical), wall material (maltodextrin, corn syrup solid, modified cellulose), end-use (consumer goods, food, and beverage) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segmentation:
By Product Type:
- Flavor Blends
- Fragrance Blends
- Essential Oils & Natural Extracts
- Aroma Chemicals
By Technology:
- Mechanical
- Emulsification
- Spray Drying
- Spray-Chilling/Cooling
- Fluidized-Bed Coating
- Centrifugal Extrusion
- Chemical
- Coacervation
- Freeze Drying
- Supercritical Fluid Technique
- Nano Precipitation
- Others
By Wall Material:
- Maltodextrin (DE<20)
- Corn syrup solid (DE>20)
- Modified cellulose
- Gum Arabic
- Modified starch
- Gelatin
- Cyclodextrin
- Lecithin
- Whey protein
- Hydrogenated fat
- Others
By End-Use:
- Consumer Goods
- Laundry Detergents
- Fabric Softeners and Scent Boosters
- Household Care
- Deodorants
- Oral Care
- Skin Cleansing & Care
- Hair Care (Shampoo & Conditioner)
- Food and Beverage
- Chewing gum
- Baked Foods
- Confectionery
- Dairy Products
- Instant Desserts (Frozen Food)
- Food Flavors (Snack Food, Cereal, Oatmeal, etc.)
- Beverage & Instant Drinks & Tea
- Others
By Encapsulated Form:
- Powder
- Paste
- Granules
By Process:
- Micro-encapsulation
- Nano-encapsulation
- Hybrid-encapsulation
- Macro-encapsulation
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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