Global Dairy Flavors Market Analysis and Forecast To 2028 – Market Set to Reach $5.67 Billion by 2028, Key Players like Kerry Group and IFF Innovate

DUBLIN, Dec. 6, 2023 /PRNewswire/ — The “Global Dairy Flavors Market: Analysis By Flavor Type, By Form, By Nature, By Application, By Region Size, Trends And Forecast To 2028” report has been added to  ResearchAndMarkets.com’s offering.

The global dairy flavor market, valued at US$4.12 billion in 2022, is poised for significant growth, with projections indicating it will reach US$5.67 billion by 2028. This robust growth is driven by several key factors, including increasing disposable income, changing lifestyles, and a rising awareness of health and wellness. Consumers are increasingly seeking premium and value-added food products, such as gourmet ice cream and cheese, which naturally fuel the demand for dairy flavors.

The application areas for dairy flavors are diverse and include bakery and confectionery, dairy and frozen desserts, beverages, soups, sauces, dressings, dips, snacks, ready-to-eat meals, yogurt, and more. Dairy flavors have gained popularity worldwide due to their ability to enhance taste while promoting health and longevity.

Key Market Trends:

Artificial Intelligence in Flavor Development: The use of artificial intelligence in flavor development is on the rise, allowing for the creation of unique and innovative dairy flavors that cater to consumer preferences.Introduction of Plant-Based Flavors: With the growing popularity of veganism and lactose intolerance, the market is witnessing a surge in non-dairy alternatives to milk-based flavors, such as plant-based and nut-based flavors like soy milk and almond milk.Clean-Label and Natural Flavors: Consumers are increasingly seeking natural and minimally processed products. Natural dairy flavors, which provide an authentic and true-to-source taste, are in high demand, promoting health and wellness.Enzyme-Modified Dairy Flavors: Enzyme-modified dairy flavors, known for their intense taste and creamy texture, are gaining traction, particularly in South and East Asia, where dairy-based beverages are on the rise.

Market Segmentation Analysis:

Flavor Type: The global dairy flavor market is segmented into five segments based on flavor type: cheese flavor, milk flavor, butter flavor, cream flavor, and other flavors. The cheese flavor segment dominates the market due to its widespread application and popularity in snack foods.Form: The market is divided into three forms: liquid, powder, and paste. Liquid dairy flavors are favored for their ease of mixing and blending. The powdered dairy flavor segment is expected to grow rapidly due to its longer shelf life and use in instant beverages.Nature: The market distinguishes between natural and artificial dairy flavors. Natural dairy flavors are preferred by consumers seeking genuine dairy experiences and minimally processed products.Application: The dairy flavor market encompasses applications in bakery and confectionery, dairy and frozen desserts, beverages, soups and sauces, dressings and dips, and more. Bakery and confectionery hold the majority share, while beverages are expected to experience the fastest growth.Region: Geographically, the Asia Pacific region leads the dairy flavor market, driven by economic development, disposable income, and a preference for healthy, protein-rich food. China and India are particularly strong markets within the region. North America is also a major market, with the US at the forefront.

Global Dairy flavors Market Dynamics:

Growth Drivers: Rising disposable income, urbanization, e-commerce growth, increased consumer awareness, a wide scope of application, and the growth of the food and beverage industry are driving the dairy flavor market’s expansion.

Challenges: The complexity in extracting and processing dairy flavors, fluctuations in the availability of raw materials, and potential side effects associated with dairy flavors pose challenges to the industry.

Key Players: Major players in the global dairy flavor market include

International Flavors & Fragrances, Inc.Jeneil BiotechnologyEdlong CorporationSynergy FlavorsBluegrass IngredientsFlavorade IndiaButter Buds Inc.FlavorjenH.E. Stringer Flavours Ltd.HL Commodity Foods Ltd.Flaverco

These companies are investing in new technologies, emerging markets, collaboration, and innovative product offerings.

The global dairy flavor market is expected to grow at a compound annual growth rate (CAGR) of 5.5% during the forecast period of 2023-2028.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis

4. Regional Market Analysis

5. Impact of COVID-19

6. Market Dynamics

6.1 Growth Drivers
6.1.1 Rise in Disposable Income
6.1.2 Urbanization and Changing Lifestyle
6.1.3 E-Commerce Growth
6.1.4 Rising Consumer Awareness
6.1.5 Wide Scope of Application
6.1.6 Growth in Food & Beverage Industry

6.2 Challenges
6.2.1 Complexity in Extraction and Processing of Dairy Flavors
6.2.2 Fluctuations in Raw Material Availability
6.2.3 Side Effects Associated With Dairy Flavors

6.3 Market Trends
6.3.1 Artificial Intelligence (AI) in Flavor Development
6.3.2 Plant-Based and Non-dairy Dairy Flavors
6.3.3 Clean Label and Natural Flavors
6.3.4 Enzyme-Modified Dairy Flavors
6.3.5 Global and Exotic Flavors
6.3.6 Rising Popularity of Yogurt

7. Competitive Landscape

7.1 Global Dairy Flavor Market Players: Product Comparison

8. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/5vvm5g

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