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Flavoring Agents Market Trends

Report ID: GMI3234
Published Date: Nov 2023
Report Format: PDF

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Flavoring Agents Market Trends

One of the prominent current trend is a notable shift towards natural and clean-label flavoring agents. Consumers are increasingly seeking products with recognizable and minimal ingredients, driving the demand for flavoring agents derived from natural sources like herbs, spices, and fruits. This trend aligns with the broader health and wellness movement, emphasizing transparency and authenticity in food products. The McKinsey & Company report highlighted that at least 50% of survey respondents, across various age groups, stated that healthy eating is vital for them. As a result, manufacturers are focusing on developing natural flavoring solutions and eliminating artificial additives.

Additionally, there is a growing interest in ethnic and regional flavors. The individuals are increasingly exploring global cuisines and authentic taste experiences which has led to the popularity of diverse flavor profiles. According to Mintel's 2022 report, titled 'A Year of Innovation in Table Sauces, Oils & Seasonings,' 37% consumers in the UK express a keen interest in purchasing condiments that offer distinctive flavors inspired by genuine exotic cuisines.

As a result, there is an influx of flavoring agents that cater to different international culinary traditions, allowing consumers to recreate their favorite global dishes at home. This has encouraged culinary creativity and experimentation among consumers, thereby shaping the industry dynamics.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The market size of flavoring agents is poised to expand at 4.5% CAGR between 2023 and 2032, backed by the changing consumer preferences and a growing inclination toward diverse and exotic flavors.

The natural flavors segment is set to grow at 5% CAGR through 2032, led by the cognizance of plus-sides of consuming products infused with natural ingredients.

Asia-Pacific market is projected to record a notable CAGR of over 5% till 2032. With a burgeoning middle-class population, evolving dietary preferences, and a rich culinary heritage, the region represents a rapidly growing consumer base for flavoring agents.

The main industry players are Givaudan, Firmenich, Symrise, IFF, Takasago, Mane, Robertet, and Kerry Group.