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The biotech flavors industry has undergone a remarkable transformation over the past decade. Once catering to a niche segment of health-conscious consumers, biotech flavors have surged into the mainstream. This shift can be attributed to heightened awareness about the environmental repercussions of sourcing traditional agricultural flavors, like vanilla and citrus, and the implementation of stringent regulations on synthetic flavors. Consequently, major players in the food and beverage sector are now channeling substantial investments into biotech flavor development, aligning with their broader sustainability and innovation agendas.
According to the U.S. Department of Agriculture (USDA), the demand for natural and organic food products has grown by 12% annually over the past five years. Additionally, the European Commission reported a 15% increase in the market share of clean-label products in the EU from 2018 to 2023. These statistics underscore the growing consumer preference for natural ingredients and the subsequent rise of biotech flavors in the market.
Top companies in the industry include Fab Flavour, Firmenich, Flavorchem & Orchidia Fragrances, Garden Flavours Co. Pvt. Ltd, Givaudan, Jeneil Biotech, Kerry Group, Keva Flavours Pvt. Ltd., Sensient Technologies Corporation, and Takasago International Corporation.
The North America biotech flavors market was valued at USD 500 million in 2023 and is expected to grow at a 9.3% CAGR, driven by robust demand for clean-label products and stringent regulations promoting natural ingredients.
The liquid segment held USD 700 million in 2023 and is anticipated to grow at an 8.8% CAGR from 2024 to 2032, primarily due to its seamless integration into diverse applications like beverages, dairy products, and sauces.
The market size of biotech flavors reached USD 1.5 billion in 2023 and is set to grow at an 8.4% CAGR from 2024 to 2032, led by increasing consumer preference for natural and sustainable food products.