Market Size of North America Flavors & Fragrances Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | High |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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North America Flavors & Fragrances Market Analysis
The North American flavor and fragrance market is anticipated to register a CAGR of 4.5% in the upcoming five years.
- The growing demand for processed foods with new and exotic flavors drives the market. Players in the industry are bringing in various innovative flavors to attract a wider consumer base. Clean-label, free-from, and GMO-free claims have always been popular in the region, where the food industry is booming with innovations. Now that flavors and extracts are included in the clean-label trend, natural herbs and spices are gaining enormous popularity.
- The beverage segment is the major application area of flavors attributed to the constant innovations and developments acknowledging the market. Food manufacturers in the region are increasingly introducing beverages with different flavors to attract consumers.
- With the increasing popularity of Asian recipes in the region, flavors often used in Asian recipes are gaining importance in the market for their novel taste. Moreover, consumers are willing to taste and explore new tastes resulting in increasing demand for flavors that are extensively used in various recipes such as curries, sushi, and other traditional recipes.
