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Flavor Compounds Market Size

Report ID: GMI6951
Published Date: Oct 2023
Report Format: PDF

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Flavor compound Market Size

Flavor Compound Market size was valued at USD 24.99 billion in 2022 and is anticipated to grow a CAGR of over 5.9% between 2023 and 2032. Flavor compounds are essential components that provide taste and aroma to various consumer products, including food, beverages, and even pharmaceuticals.

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This market's size has been steadily increasing over the years, driven by changing consumer preferences, the demand for natural and clean label products, and the innovation and research efforts of flavor manufacturers. The growth of the market is the increasing consumer demand for unique and authentic flavor experiences. Consumers today are more adventurous in their culinary preferences, seeking out new and exciting taste profiles. This has led to a surge in the demand for a wide variety of flavor compounds, from traditional options like vanilla and chocolate to more exotic and innovative flavors like matcha, dragon fruit, and lavender.

Flavor Compounds Market Report Attributes
Report Attribute	Details
Base Year:	2022
Flavor Compounds Market Size in 2022:	USD 24.99 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.9%
2032 Value Projection:	USD 44.3 Billion
Historical Data for:	2018 – 2022
No. of Pages:	120
Tables, Charts & Figures:	136
Segments covered:	Flavor, Application & Region
Growth Drivers:	Convenience Foods and Ready-to-Eat Products Growth in the Beverage Industry Natural and Clean Label Trends
Pitfalls & Challenges:	Sustainability Concerns

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the shift towards natural and clean label products. Health-conscious consumers are increasingly looking for products that contain natural ingredients and are free from artificial additives. This has prompted food and beverage manufacturers to reformulate their products using natural flavor compounds derived from sources like fruits, herbs, and spices. As a result, natural flavor compounds have witnessed significant growth and are expected to continue doing so.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Flavor compound market was valued at USD 24.99 billion in 2022 and is anticipated to grow a CAGR of over 5.9% between 2023 and 2032.

Protein bars, driven by the demand for convenient and nutritious on-the-go snacks, held a significant 54.4% market share in 2022 and is projected to grow through 2032 as flavor compounds play a crucial role in enhancing the taste and texture of protein bars.

North America dominated the flavor compound market in 2022, accounting for a major share of around 39.4%, due to the well-established food & beverage sector, innovative product development, and evolving consumer preferences.

Givaudan, Firmenich, Symrise, IFF (International Flavors & Fragrances), Sensient Technologies, Kerry Group, Takasago International Corporation, FONA International, Frutarom (now part of IFF), and Tate & Lyle.