More consumers nowadays are seeking natural ingredient-based food products, which can be seen in their purchasing patterns that are changing continuously with time. Rising demand of butter and cheese flavors for making cookies and cakes is a major factor driving sales in the dairy-derived flavors market. High demand for clean label products can be observed across regions, due to increasing consciousness regarding health & wellness, which creates pressure on dairy producers to provide natural and organic foods or ingredients to suit evolving diet trends. Modern customer thrives on low fat, low calories, and low sugar products, which is providing enormous opportunity for players in the dairy-derived flavors market. Demand for the powder form of dairy-derived flavors is high, due to the convenience factor, besides easy availability. Due to the above-mentioned reasons, the global dairy-derived flavors market is projected to expand at a healthy CAGR of nearly 6% through 2030.
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Key Takeaways from Dairy-derived Flavors Market Study
- Market value for fermented flavor is expected to witness 1.5X growth during the forecast period, and is projected to reach a market volume 140,012 tons by 2030-end, owing to increased use of dairy-derived flavors as nutritionally dense ingredients in different food products.
- Owing to easy availability and higher production volume, the powder form is expected to witness a prominent value CAGR of 5.5% over the forecast period.
- Established regions such as North America and Europe dominate the global dairy-derived flavors market, together accounting for a value share of 50% in 2020, mainly because the bakery industry is flourishing across these regions. Well-established end-use industries, distribution channels, innovation platforms, regulations, and consumer preference for nutritious and natural products also aid growth of the market in these regions.
- With the spread of COVID-19, the dairy-derived flavors market is expected to be moderately impacted, owing to trade restrictions. Lockdowns imposed across several countries around the world are expected to hamper production, thus impacting the overall growth of the dairy-derived flavors market.
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Global Dairy-derived Flavors Market: Manufacturer Strategies
- Manufacturers in the dairy-derived flavors market are observing changing consumers preferences and tastes, and continuously developing innovative ingredients that meet the current and future needs of consumers across the world.
- With the ongoing trend of preference for transparency & traceability for food products, manufacturers are taking innovative and ethical approaches to provide high quality and better visibility of information of ingredients used.
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