Food Flavor Market, By Category (Synthetic, Natural), By Flavor Type (Chocolate, Vanilla, Fruit & Nut, Spices, Others), By Application (Beverages, Food), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : Jun 2023

Code : CMI5899

Pages :150

Formats :

Excel and PDF

Industry : Food Ingredients

Food Flavor MarketSize and Trends

The global food flavors market size was valued at US$ 16.90 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030.

Global Food Flavors Market Trends:

Functional beverages is a growing trend

Growing consumption of functional beverages, bakery products, and confectionery is augmenting growth of the global food flavor market. Moreover, increasing cases of diabetes, high blood pressure, obesity, and other metabolic disorders is again fueling the demand for functional beverages products. This is helping to expand the market for various food flavors used in beverage products such as sports drinks, fruit juices, and sugar-free drinks.

Growing number of partnership in the market

Key players are adopting various growth strategies to in order expand their market presence and this trend is expected to continue in the near future. For instance, in April 2023, Doehler has signed a new deal with Ixora Scientific to commercialize natural taste modulators derived from botanicals and plants. The two partners will explore new frontiers and bring novel solutions to the market in this significant collaboration geared toward natural ingredient systems and integrated solutions for F&B.