The market for powdered flavors is projected to expand from US$ 9,940.36 million in 2022 to US$ 13,841.10 million by 2030, reflecting a compound annual growth rate (CAGR) of 4.2% during this period.
Powdered flavors are essentially dehydrated versions of liquid extracts. They are produced through processes such as spray drying or freeze drying, transforming purees, pastes, or liquid emulsions into fine, concentrated powders that can easily blend into various formulations while maintaining shelf stability. These flavors find applications across a diverse array of food products, including baked goods, confectionery items, dairy products, frozen desserts, savory snacks, soups, sauces, dressings, ready-to-eat meals, nutraceuticals, and both meat and meat alternative products.
The sports nutrition sector is experiencing significant growth worldwide. This surge is largely attributed to the increasing prevalence of obesity, diabetes, and cardiovascular diseases, prompting consumers to engage in physical activities and seek out products that offer functional benefits. Additionally, the number of recreational sports enthusiasts is on the rise as individuals focus more on their health and wellness. These trends are fueling the demand for sports nutrition products, including protein supplements, energy drinks and mixes, creatine, and other performance-enhancing items.
Common flavors in sports nutrition products include vanilla, chocolate, strawberry, and banana. However, as the sports nutrition market continues to expand, there is a growing demand for unique flavor ingredients. Recently, manufacturers have begun to incorporate innovative flavors such as cinnamon, mango, cherry, and cookie powders into their sports nutrition offerings to appeal to a broader consumer base.
Furthermore, manufacturers are adding nut powders to protein supplements to lower fat content while enhancing flavor. For example, defatted almond powder serves as a low-calorie flavoring agent in protein powders, improving the nutritional profile and providing a clean taste along with a smooth mouthfeel. Consequently, the increasing use of creative powdered flavors in sports nutrition supplements is anticipated to significantly boost the powdered flavors market throughout the forecast period.
The powdered flavors market is categorized by application into several segments: bakery and confectionery; dairy and frozen desserts; soups, sauces, and dressings; meat and meat substitutes; snacks and ready-to-eat (RTE) meals; nutritional supplements; and others. In 2022, the snacks and RTE meals segment dominated the global powdered flavors market. Snacks are typically small portions of food consumed between meals, while RTE meals are pre-packaged meals that offer convenience. The rising demand for high-quality convenience foods is a major trend in the food industry today. Savory powdered flavors are utilized in these products to enhance their overall quality. With busy lifestyles, millennials are increasingly opting for efficiency over time-consuming cooking, leading them to invest in convenience foods, which in turn drives the popularity of RTE meals and snacks. These dynamics are expected to propel the powdered flavors market within this segment during the forecast period.
From a geographical perspective, the powdered flavors market is divided into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Asia Pacific accounted for the largest share of the powdered flavors market, while South & Central America is anticipated to experience the highest CAGR from 2022 to 2030. Urbanization has resulted in busier lifestyles, which in turn has increased the demand for packaged foods, snacks, and ready-to-eat options. Powdered flavors are generally more economical to produce and transport compared to their liquid counterparts, making them attractive to manufacturers. Therefore, the combination of rising urbanization and cost-effectiveness is driving the growth of the powdered flavors market in South & Central America.
The overall size of the powdered flavors market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants to validate the findings and gain deeper analytical insights. Participants included industry experts such as vice presidents, business development managers, market intelligence managers, national sales managers, and external consultants, including valuation experts, research analysts, and key opinion leaders specializing in the powdered flavors market.