Liquid flavor are used to add taste, color, and nutritional content to food items. These are commonly water or oil based. They are available in various types such as organic, natural, artificial, kosher, and halal. Major factor driving growth of the global liquid flavor market is increasing consumption of processed food among consumers. However, volatility in prices of raw materials may hamper growth of the target market.

The global liquid flavor market has been segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into artificial flavor liquids, organic flavor concentrates, and flavor extracts. Artificial flavor liquids hold a major share in terms of revenue, owing to increasing use in confectionery, e-cigarettes, and alcoholic beverages. Natural flavors are expected to witness high growth, owing to increasing preference for natural flavors among consumers.

On the basis of application, the market is segmented into processed food, beverages, frozen and dairy foods, and bakery and confectionery. Beverages segment dominates the global market and is expected to witness significant growth over the forecast period, owing to increasing demand for flavored water, carbonated beverages, energy drinks, and alcoholic beverages among individuals.

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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, market in North America dominates the global market in terms of revenue, owing to increasing consumption of convenient food and presence of key food processing companies in this region. Asia Pacific market is expected to witness fastest growth in the near future, owing to increasing preference for various types of regional cuisines in this region. Increasing population, changing food habits, and rising disposable income are also other factors expected to boost growth of the global liquid flavor market in this region. Revenue of Europe market is expected witness lucrative growth over the forecast period, followed by Latin America and Middle East and Africa.

Key players operating in the global liquid flavor market include Symrise AG, Frutarom Industries Ltd., Biosun Flavors and Food Ingredients, International Flavors & Fragrances Inc., Flavors Gourmet, Givaudan SA, Gold Coast Ingredients, Inc., Kerry Group plc, McCormick & Company, and Natures Flavors, Inc.