The global food flavor market is anticipated to grow with a significant CAGR during the forecast period. The growth of the food flavor industry is attributed to the increasing demand for new or unique flavors specially by millennial’s and Gen Z across the globe. Moreover, various food and beverage brands in the market are constantly reinventing themselves in order to meet the demand of unique flavor by consumers. This is anticipated to significantly drive the food flavor market during the forecast period.
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The increasing adoption of healthier products especially plant-derived food & beverages is significantly driving the market shares of natural flavors in the market. Moreover, the growing demand for addition of global authentic flavors in the food is also considerably impacting the food flavor market. Moreover, the growing focus of brands on the development of once famous food’s flavor to satisfy the consumers nostalgic appetite is also influencing the growth of food flavor industry.
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The growing interest of global brands in the use of various innovative flavors in the functional foods for providing health benefits and reducing chemically synthesized additives is also expected to fuel the food flavor market.
Besides, artificial flavors are made by combining chemicals which are made from various inedible ingredients such as paper pulp, petroleum and many more. However, artificial flavors smell and taste exactly like natural flavorings. Even though they are passed from stricter safety testing before their marketing, they can still impose a number of health problems. Hence, the associated health risk of artificial flavors is anticipated to significantly hamper the growth of food flavor market growth.
Natural flavors are created from an edible source such as vegetables, fruits, meat, poultry, dairy, herbs and spices by using derivatives of these products. Hence, the adoption of natural flavors will be high in comparison to artificial flavors, which in turn, will contribute significantly to the growth of the food flavor market during the forecast period.
Global Food Flavor Market- Segmentation
By Type
• Natural Flavor
• Synthetic Flavor
By Application
• Beverages
• Dairy & Frozen Products
• Bakery & Confectionery
• Processed & Convenience Food
• Others
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