Market Size of Global Natural Food Flavors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.75 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Natural Food Flavors Market Analysis
Global Natural Food Flavors market is projected to register a CAGR of 6.75% during the forecast period, 2020-2025.
- As per the International Food Information Council Foundation, the overall flavor industry runs due to consumer demand for the most nuanced and subtle flavors in food, with taste being a crucial factor influencing a consumer's purchase decision. The organization reveals that the importance of taste has increased since 2018, with about 86% of consumers choosing taste over other food attributes prior to their purchase. Along with the statement mentioned above, the demand for natural food flavors arises with the general consumer consensus to perceive food products as healthy if derived from natural ingredients.
- Moreover, consumers are greatly fascinated to use products with simple and understandable labels, which pushes food companies to opt for natural flavors that instantly gives a sense of relief to consumers, irrespective of its chemical association during production.
- However, high cost of extraction and expensive raw materials discourage food manufacturers, primarily in developing countries, to be as progressive as big firms and brands that are constantly rooting for healthier food products.
