FOOD FLAVORS MARKET | KEY CHALLENGE | RECENT DEVELOPMENTS

The global Food Flavor 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.

Growing consumer knowledge of their eating habits is a direct cause of the rising demand for food flavors for a key innovative trend in the food space, such as plant-based meat alternatives, plant-based dairy, plant-based ice creams, etc. One of the biggest consumer concerns and a key reason why individuals are thinking about integrating plant-based meals into their diet is environmental well-being, wherein the key challenge of manufacturers is to retain the familiar taste of traditional products that consumers are habitual, this, in turn, is driving demand for the food flavors to rope in to address the challenge, ultimately driving the demand.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93115891

KEY CHALLENGE:

Changing standards and regular modifications in existing regulations corresponding to the latest scientific knowledge may challenge the growth of the food flavors market.

KEY RECENT DEVELOPMENTS

- 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. The launch of 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 May 2022, DSM and Firmenich SA, a Swiss fragrance and flavor company, announced a EUR 41 billion (USD 40.51 billion) merger to form a "global powerhouse" in the specialized items required for the burgeoning alternative food and nutrition sector.

- In March 2022, Blue Pacific Flavors launched an alcohol-inspired flavors platform which is a collection of various natural flavors.

- In February 2022, ADM acquired Comhan, a leading South African flavor distributor, to strengthen the nutrition business in the high-growth African market.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=93115891

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.

Read more: https://www.marketsandmarkets.com/Market-Reports/food-flavors-market-93115891.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.