The dairy flavors market size is expected to grow from US$ 1,962.45 million in 2022 to US$ 2,552.19 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2022 to 2028.
Dairy flavors are flavoring agents added to various food products and beverages to impart the flavor of dairy products such as butter, cheese, cream, and milk. Dairy flavors are gaining traction in the food & beverages industry as they aid in imparting dairy flavor without adding to the calories or fat content of the product. Dairy flavors are processed and manufactured from dairy products such as milk, butter, cheese, and cream and are available in liquid, powder, and paste formats. These flavors are intended to enhance the taste and intensity of various food products by providing them with an array of flavor profiles such as buttery, cheesy, creamy, and several other sweet and savory tastes. Dairy flavors are used in various food products such as bakery & confectionery, sweet & savory snacks, soups & sauces, dips & dressings, and frozen desserts.
In 2021, Asia Pacific held the largest share of the dairy flavors market and is estimated to register the highest CAGR during the forecast period. The market growth in this region is mainly attributed to rising health awareness and increasing focus on tasty food in countries such as India, China, and Japan due to the growing disposable incomes. Consumers are willing to pay higher prices for dairy flavor products in these countries. India stands as one of the fastest-growing markets in Asia Pacific, where consumers are not willing to compromise on the taste and health factors of the food. There is a massive demand for regional and traditional flavors from the Indian subcontinent, which is fueling the market growth.
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Dairy Flavors Market: Strategic Insights
Market Size Value in US$ 1,962.45 million in 2022 Market Size Value by US$ 2,552.19 million by 2028 Growth rate CAGR of 4.5% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Dairy Flavors Market: Strategic Insights
| Market Size Value in | US$ 1,962.45 million in 2022 |
| Market Size Value by | US$ 2,552.19 million by 2028 |
| Growth rate | CAGR of 4.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Dairy Flavors Market
Before the pandemic, the growing demand for processed food and the increasing consumer requirement for a variety of flavors and tastes of the product were the key factors that boosted the growth of the dairy flavors market. The dairy flavors market was driven by the food & beverages industry incorporating a variety of flavors in its products. Moreover, consumer shift toward natural flavors and increased consumption of ready-to-eat products among the population were among the other factors positively influencing the market growth. However, industries experienced unprecedented challenges after the onset of the COVID-19 pandemic in 2020, including supply chain constraints caused by nationwide lockdowns, trade bans, and travel restrictions. The supply chain disruptions created a shortage of raw materials, which affected the production and distribution of various products, leading to increased prices.
In 2021, various economies resumed operation as governments of various countries announced the relaxation of the previously imposed restrictions, which boosted the global marketplace. Further, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. As numerous citizens of many countries were fully vaccinated by 2021, the dairy flavor manufacturers focused on increasing their production to revive their businesses.
Dairy Flavors Market Breakdown, by Region
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Strategic Developments by Key Players Favor Dairy Flavors Market Growth
In June 2020, Edlong expanded its dairy-based natural flavors segment by including a line of high-intensity cheese and cultured profiles for use in sauces, dressings, and dips. In May 2021, Synergy Flavors Acquires Innova Flavors from Griffith Foods Worldwide. This acquisition provides considerable benefits to Synergy customers by giving them access to a proven variety of flavors to address the growing demand for natural flavors and savory ingredients. Such strategic developments by key players in the market are expected to surge the growth of the dairy flavors market. In addition, some of the key players in the region are involved in strategies such as mergers and acquisitions to expand their geographical presence.
Flavor Profile Insights
Based on flavor profile, the dairy flavors market is segmented into cheese, butter, cream, and others. The cheese segment held the largest market share in 2021 and is expected to register the highest CAGR during the forecast period. The popularity of cheese flavor is based on its use in popcorn, potato chips, cookies, crackers, dips & spreads, and sauces, among other products. Elevating demand for food products, growing retail outlets, and increasing preference for fast food are bolstering the requirement for cheese flavors.
Dairy Flavors Market, by Flavor Profile – 2022 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Application Insights
Based on application, the dairy flavors market is segmented into bakery and confectionery; dairy and frozen desserts; soups and sauces; dressings, dips, and spreads; beverages; and others. Bread, cookies, cakes, and fillings are among the primary bakery and confectionery applications of dairy flavors. Confectionery manufacturers are increasingly using natural flavors in their products. Dairy-based flavors are increasingly being used in bakery products such as cookies and cakes.
Jeneil, Flavorjen, The Edlong Corporation, Givaudan S.A., Kerry Group, Sensient Technologies, Symrise, Synergy Flavors, Bluegrass Ingredients Inc., and Flavorade India are among the major players operating in the dairy flavors market. These companies mainly focus on product innovation to expand their market size and follow emerging market trends.
Report Spotlights
- Progressive industry trends in the dairy flavors market to help companies develop effective long-term strategies
- Business growth strategies adopted by the dairy flavors market players in developed and developing countries
- Quantitative analysis of the market from 2022 to 2028
- Estimation of global demand for dairy flavors
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the dairy flavors market
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the dairy flavors market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
- Size of the dairy flavors market at various nodes
- Detailed overview and segmentation of the market and growth dynamics of the dairy flavors industry
- Size of the dairy flavors market in various regions with promising growth opportunities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Flavor Profile, Form, Category, Nature, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, UK, United Arab Emirates, United States
Frequently Asked Questions
Dairy flavors are processed and manufactured from dairy products such as milk, butter, cheese, and cream and are available in liquid, powder, and paste formats. These flavors are intended to enhance the taste and intensity of various food products by providing them with an array of flavor profiles such as buttery, cheesy, creamy, and several other sweet and savory tastes. Dairy flavors are used in various food products such as bakery & confectionery, sweet & savory snacks, soups & sauces, dips & dressings, and frozen desserts. Thus, the growth of the food & beverages industry, coupled with an increase in the utilization of dairy flavors in a wide range of food products, is significantly driving the dairy flavors market globally
Asia Pacific accounted for the largest share of the global dairy flavors market. Asia Pacific is one of the most significant regions for the dairy flavors market owing to rising health awareness and increasing focus on tasty food in countries such as India, China, and Japan due to the growing disposable incomes.
Based on the category, natural segment is projected to grow at the fastest CAGR over the forecast period. Rising health concerns among consumers and increasing number of product launches has surged the growth of natural dairy flavors segment.
The major players operating in the global dairy flavors market are Jeneil, Flavorjen, The Edlong Corporation, Givaudan S.A., Kerry Group, Sensient Technologies, Symrise, Synergy Flavors, Bluegrass Ingredients Inc., and Flavorade India.
Consumers are shifting their preferences toward more natural and organic food products. They are highly concerned about the ingredients used in processed foods and beverages and are preferring simpler ingredients, free from chemical additives and genetically modified organisms (GMOs). Clean label and organic food products have gained significant traction among the consumers in the region since they are perceived to be healthier than conventional foods. Consumers are willing to pay a higher price for clean label and organic foods. The product development coupled with surging popularity of clean label and organic food products is projected to offer significant growth opportunities to the manufacturers of dairy flavors over the forecast period.
Based on flavor profile, cheese segment mainly has the largest revenue share. The growth of the segment is attributed to availability of variety of flavors and its wide application in various food and beverages application.
The List of Companies - Dairy Flavors Market
- Jeneil
- Flavorjen
- The Edlong Corporation
- Givaudan S.A.
- Kerry Group
- Sensient Technologies
- Symrise
- Synergy Flavors
- Bluegrass Ingredients Inc.
- Flavorade India
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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