Europe Food Flavor Market Size

Statistics for the 2023 & 2024 Europe Food Flavor market size, created by Mordor Intelligence™ Industry Reports. Europe Food Flavor size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Europe Food Flavor Industry

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Europe Food Flavor Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.60 %
Market Concentration Medium

Major Players

Europe Food Flavor Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Food Flavors Market Analysis

The European food flavor market is valued at USD 3,939.1 million in the current year and is projected to register a CAGR of 4.6% during the forecast period.

Since the beginning of the global COVID-19 pandemic, the European food flavor market's year-over-year growth rate has declined. Government restrictions and significant manufacturing and supply chain disruptions followed this. However, the market also saw a slow but steady rise in demand during the period when the lockdowns were lifted as more people throughout the world began to buy more food products, including food and beverages.

Over the years, globalization and modernization have accelerated the need for flavors and food processing industries. Additionally, the rise in the consumption rate of low-fat, low-salt, and low-carbohydrate food is the key driver for the increasing food flavors' consumption/demand. As flavors are region and country-specific, manufacturers are focusing on acquiring a larger market share by producing customized flavors.

The food flavoring industry is highly dependent on the easy availability of raw materials. The market players have set up production bases in the local market to get easy access to the same, which has intensified the competition in the local market. This changing consumer behavior and market dynamics for food flavorings are pushing food manufacturers to quit the application of artificial additives in food products. Major food companies like Kellogg's, General Mills, Nestle, Campbell, and Kraft have further committed to restricting the use of artificial additives and flavors in their product formulations, pointing to a promising future for naturally occurring flavors derived from plants during the forecast period.

Europe Food Flavors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)