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- Number of pages : 30 pages
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- Last update : 03/02/2022
Summary and extracts
1 Market Overview
1.1 Definition and presentation
A food flavor is an ingredient that provides a specific taste and/or smell to the food in which it is incorporated in very small doses. Food flavorings can be natural or artificial.
The global flavorings market is projected to grow at a sustained rate of 4.8 percent per year between 2020 and 2025. This increase is driven by emerging countries, with Asia already the leading continent of consumption for food flavorings, but also South America, which is expected to experience the strongest growth during this period.
The market situation in Italy is not as dynamic. In fact, the Italian market only grew by 0.8 percent in terms of value and 1.4 percent in terms of volume compared to 2018. Moreover, the flavorings market represents only 15 percent of the broader spices and flavorings market, which is instead dominated by herbs and spices.
In terms of distribution, large-scale retail accounts for about 80 percent by value and 70 percent by volume. However, the channel that is experiencing the most growth is Discount (which includes grocery and convenience stores), up 7 percent in both value and volume, mainly due to private labels dominating the channel. Private labels account for 26.5% of the market.
The Italian flavor market is mainly characterized by consumer attraction to naturalness . This trend is leading to a strong interest in natural flavors, sought after both for their health and environmental benefits and their ability to add flavor to modern, healthy and natural cuisine. Companies in the market are therefore working to expand their offerings to meet these new needs and anticipate future trends.
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the market for food flavourings | Italy
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