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Food Aroma Market Size

Report ID: GMI5441
Published Date: Feb 2023
Report Format: PDF

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Food Aroma Market Size

Food Aroma Market size valued at USD 853.3 million in 2023 and is poised to grow at over 6.1% CAGR from 2024 to 2032. Driven by a surging consumer demand for ready-to-eat convenience food products.

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Consumers across emerging economies are increasingly paying more attention to sensory appeals such as aroma and taste while making their convenience food choices, fostering the market demand. According to reliable estimates, India’s fast-food industry is expanding at an annual rate of more than 40%, creating a heightened demand for food aromas in the regional market. With convenience food gradually becoming a staple in diets across developed countries such as typical the US is likely to create a stronger growth impetus for the industry.

Food Aroma Market Report Attributes
Report Attribute	Details
Base Year:	2023
Food Aroma Market Size in 2023:	USD 835.3 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.1%
2032 Value Projection:	USD 1.4 Billion
Historical Data for:	2018 to 2021
No. of Pages:	451
Tables, Charts & Figures:	658
Segments covered:	Type, Product, Application and Region
Growth Drivers:	Growing consumer demand for convenience and ready-to-eat products. Increasing demand for dairy products Expanding retail sector will boost the food & beverage industry
Pitfalls & Challenges:	Negative effects of synthetic food aroma products may hamper the product demand

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Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of food aroma held a valuation of more than USD 853.3 million in 2023 and is set to expand at 6.1% CAGR from 2024 to 2032, on account of growing demand for ready-to-eat and convenience food products.

The synthetic segment was valued at over USD 530 million in 2022, driven by its less processing time and ability to replicate natural flavors, the segment is likely to foresee more growth.

The industry for food aroma in Europe is anticipated to grow at 6% CAGR during 2023 to 2032, on account of the region’s growing dairy industry.

Some of the major players partaking in the market include Solvay, Aromatech International, Givaudan, and Symrise AG, Hindustan Mint and Agro Products, and Kao Corporation.