Consumer & Retail

According to a market report by Lucintel, the future of the confectionery flavor market looks promising with opportunities in hard & soft candy, chewing gum, popcorn, and meringue applications. The global confectionery flavor market is expected to reach an estimated $6.9 billion by 2028 with a CAGR of 4% from 2023 to 2028. The major drivers for this market are increasing population and food and beverage industry and growing health awareness and product knowledge among consumers.

In this market, sweet flavors, vanilla flavors, fruit flavors, and mint flavors are the major flavor type segments confectionery. Lucintel forecasts that fruit flavors will remain the largest flavor type segment over the forecast period as it provides a wide variety of flavor options, and it is also associated with sweetness and freshness which makes them a popular choice for many consumers.



Within this market, hard & soft candies are expected to remain the largest application segment because they come in a wide variety of flavors and textures, which appeal to all age categories.



Europe will remain the largest region due to increasing number of consumers of confectionery goods and rising preference for confectionery goods among elderly population in the region.

Givaudan, Dohler, FlavorChem, The Edlong Corporation, FONA International Inc., Flavaroma, GOLD COAST INGREDIENTS, INC., Symrise, LorAnn Oils, and Innova Flavors are the major suppliers in the global confectionery flavor market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global confectionery flavor market by flavor type, nature, form, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Confectionery Flavor Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the confectionery flavor market by flavor type, nature, form, application, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global confectionery flavor market by flavor type (sweet flavors, vanilla flavors, fruit flavors, mint flavors, and others), nature (natural and synthetic), form (liquid, powder, and syrup), application (hard & soft candies, chewing gum, popcorns, and meringues), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?