The global Food Flavors Market size is expected to grow from USD 18.0 billion in 2022 to USD 21.3 billion by 2027 at a CAGR of 3.5 % from 2022 to 2027
The food flavors market is growing rapidly with the increasingly new launches of customized flavor blends by global manufacturers. The manufacturers are exploring new revenue streams by offering products customized to consumer preferences. In March 2022, Blue Pacific Flavors launched an alcohol-inspired flavors platform which is a collection of various natural flavors. Through this platform, the company aims to recreate the tastes of alcoholic beverages and spirits without the use of alcohol, which is inspired by alcohol, and replicates the popular flavors of alcoholic beverages and spirits, without the use of alcohol. The product was introduced by considering the consumer preference for no or low-alcohol beverages.
In June 2022, Givaudan and Manus Bio, a leading biomanufacturer of natural products, launched an advanced ingredient named “BioNootkatone,” which offers a natural and reviving citrus flavor. Launching this novel ingredient will help Givaudan meet the growing demand for sustainable, natural, clean-label citrus flavor without the cost and supply volatility of traditional citrus extracts. In March 2022, the company also launched a new flavor named NaNino+, combining plant-based ingredients and natural flavoring. It acts as a substitute for nitrite in processed meat, ensuring safe meat production with additional health benefits. These customized flavor blends are being increasingly used to enhance the food & beverage product appearance and flavor.
North America dominated the food flavors market in 2021
North America is the largest market for food flavors owing to the growing demand for processed and functional food products influenced by the hectic lifestyle and changing eating habits of the consumers in this region. The growth could be attributed to its ever-expanding food & beverage processing industry and the increasing popularity of functional foods. North America harbors some of the leading food and beverage manufacturing companies, such as ADM, Sensient, and Synergy Flavors, continuously upgrading their product portfolios to maintain their position as key players in the food flavors market, boosting the growth of the same. Presence of companies such as ADM (US), International Flavors & Fragrances Inc. (US), Sensient Technologies Corporation (US), Synergy Flavors, Inc. (US) in the North American region contributes to the dominant position of the region.
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