Berry refers to the small, pulpy, edible fruit that are usually juicy, rounded, sweet or sour in taste. Some of the common examples of berry include blueberries, strawberries, raspberries etc. Natural berry flavor is widely used in jams, cakes, preserves, and pies. Natural berry flavor is gaining high demand in the industry owing to its high anti-oxidant properties. It helps in neutralizing free radicals that may develop cancer, cardiovascular disease, and other age-related conditions. It is also rich in vitamin C which helps in collagen formation and supports healthy immune system. Natural berry flavors market has taken a huge leap forward with the rising demand of fruit flavors in the food & beverage industry. Factors such as changing taste and preferences of consumers, increasing health consciousness, new product developments, and the improved supply chain to ensure product availability, are driving the growth of global natural berry flavor market.
Global Natural Berry Flavor Market: Market Segmentation
The global natural berry flavor market can be segmented on the basis of application, product type, and region. On the basis of application natural berry flavor market can be segmented into functional beverages, confectionary, dairy product, bakery, and others. Others include applications such as cosmetics and toiletries, soaps and detergents etc. Functional beverages is expected to be the largest segment in the global natural berry flavor market followed by bakery segment during the forecast period. On the basis of product type, natural berry flavor market can be segmented into aroma chemical, natural extract, essential oils and other natural flavor.
Global Natural Berry Flavor Market: Regional Outlook
Geographically, the global natural berry flavor market can be segmented into major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, North America is expected to be the largest market for natural berry flavors. Increasing demand of natural flavors that enhance the taste and are free of artificial ingredients, preservatives and high sugar, is one of the major factor contributing to the high market share of natural berry flavor in North America. Asia Pacific region is projected to be the fastest growing market owing to the increased applications of natural berry flavors in the food & beverages industry.
Global Natural Berry Flavor Market: Growth Drivers
Natural Berry Flavor Market is expected to witness modest growth during the next couple of years. Natural berry flavor has gained a significant boost with the high demand of clean label and natural flavors in the food & beverages. The growth is supported by various macro-economic factors such as population growth, recovered GDP, and increased disposable income have played a major role in elevating the demand of natural berry flavors market. In addition, its high demand is attributable to the increased use of berry flavor in beverages and bakery applications. Rapid urbanization coupled with the changing life-style, change in taste and preferences, change in eating habits, along with the growing awareness level regarding health benefits of natural berry flavor are fueling the growth of global natural berry flavor market. However, rising cost of raw materials and the issues pertaining to the stability and sustainability of natural flavors over synthetic flavors are some of the factors affecting the growth of natural berry flavor market. Food technologist and companies in this market are continuously involved in research & development activities to enhance the natural berry profile so as to bring various flavors that can add taste and nutritional value of diets consumed.
Global Natural Berry Flavor Market: Players
Some of the global key players in the natural berry flavor market includes Firmenich SA, Givaudan, Takasago International Corporation, Wild Flavors and Specialty Ingredients, Sensient Technologies Corporation, Symrise AG, Kerry Group PLC, Frutarom Industries Ltd. among others. Companies in the global natural berry flavor market are focusing upon expanding their product portfolio through new product launches.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.