Market Size of Food Flavor & Enhancer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.75 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Food Flavor & Enhancer Market Analysis
The food flavor and enhancer market is projected to record a CAGR of 4.75% over the next five years.
The market is driven by changing lifestyles, increasing demand for healthy ingredients, and influential trends for new exotic and ethnic flavors. With the rising preference for premium-quality products, including premium lines of seasonings and sauces, the market is growing rapidly across the world. The consumer demand for clean labels and natural flavors is increasing as they become aware of synthetic ingredients' adverse effects. Consumer demand for foreign cuisines and international flavors is also increasing, due to which market players are launching new products.
The governments of some countries have banned the use of artificial flavors in food and beverage products. For instance, the FDA has banned seven different artificial flavors for use in ice creams and candies as they were found to be carcinogenic. Consumer demand for vegan flavors is also increasing worldwide due to the increased consumption of vegan food. The demand for multiple cuisines is also increasing across the world. The market players are launching new flavors and cuisines to cater to consumer demand. For instance, in January 2023, International Flavors and Fragrances Inc. launched Choozit Vintage for flavor development in cheddar cheese. Over the medium term, the market is expected to grow due to the increasing demand for natural and clean-label flavors and product innovation among market players.
