The aroma ingredients for food and beverages market is expected to grow from US$ 1.21 billion in 2022 to US$ 1.67 billion by 2030; it is expected to record a CAGR of 4.1% from 2022 to 2030.
Aroma ingredients are isolated from naturally sourced ingredients or chemically extracted from petroleum. These ingredients play a crucial role in shaping the flavor and aroma profile of various food and beverage items, ranging from confectionery and savory snacks to alcoholic and non-alcoholic beverages. The growing importance of aroma ingredients in the food & beverages industry and strategic initiatives by key market players are major factors driving the aroma ingredients for food and beverages market. In addition, the increasing consumer demand for unique and exotic flavor and aroma experiences, as well as advancements in extraction and synthesis techniques, further help in shaping the market landscape. However, the regulatory constraints associated with use of aroma ingredients in the food and beverages industry hamper the aroma ingredients for food and beverages market growth.
Based on type, the market is bifurcated into synthetic and natural. The synthetic segment is further segmented into terpenes, aldehydes, aliphatic, and others. The natural segment is further divided into essential oils, herbal extracts, oleoresins, and others. In 2022, the synthetic segment held the largest aroma ingredients for food and beverages market share. The natural segment is expected to register the highest CAGR from 2022 to 2030. Synthetic aroma ingredients are chemical compounds that mimic natural flavors found in foods and beverages. The surge in the demand for these ingredients in the food & beverages industry can be attributed to several factors. First, synthetic aroma ingredients provide consistency in flavor profile, ensuring that products taste the same every time, regardless of variations in natural ingredients. This consistency is crucial for brand identity and consumer satisfaction. Second, they offer cost-effectiveness compared to natural aroma ingredients, making them more accessible to manufacturers, particularly in large-scale production. Additionally, advancements in flavor science have led to the development of synthetic ingredients that closely replicate natural flavors, satisfying consumer preferences for familiar tastes while offering unique flavor combinations. In conclusion, concerns regarding the stability and availability of natural ingredients and regulatory pressures have further propelled the adoption of synthetic aroma ingredients in the food & beverages industry.
By geography, the aroma ingredients for food and beverages market analysis is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Asia Pacific held the largest aroma ingredient for food and beverages market share during the forecast period. Europe accounted the second largest share followed by North America. In Europe, the growing demand for aroma ingredients can be attributed to the region's rich culinary traditions and increasing preference for premium and artisanal products. There is a strong cultural appreciation for culinary traditions and cuisine across Europe. Consumers in Europe value high-quality ingredients and authentic flavors, thereby driving the demand for aroma ingredients that enhance the sensory experience. This emphasis on gourmet excellence has led to a growing market for premium aroma ingredients sourced from natural and sustainable sources, catering to the discerning tastes of European consumers. Additionally, the increasing interest in healthier and more natural food options in Europe contributes to the market growth.
International Flavors & Fragrances Inc, Sensient Technologies Corp, T Hasegawa Co Ltd, BASF SE, V Mane Fils Sas, Symrise AG, Firmenich International SA, Archer-Daniels-Midland Co, Kerry Group Plc, and Berje Inc are among the prominent players profiled in the aroma ingredients for food and beverages market report. Players operating in the market focus on providing high-quality products to fulfill customer demand.
The size of the aroma ingredients for food and beverages market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants - including valuation experts, research analysts, and key opinion leaders - specializing in the market.
Reasons to Buy
Aroma ingredients are isolated from naturally sourced ingredients or chemically extracted from petroleum. These ingredients play a crucial role in shaping the flavor and aroma profile of various food and beverage items, ranging from confectionery and savory snacks to alcoholic and non-alcoholic beverages. The growing importance of aroma ingredients in the food & beverages industry and strategic initiatives by key market players are major factors driving the aroma ingredients for food and beverages market. In addition, the increasing consumer demand for unique and exotic flavor and aroma experiences, as well as advancements in extraction and synthesis techniques, further help in shaping the market landscape. However, the regulatory constraints associated with use of aroma ingredients in the food and beverages industry hamper the aroma ingredients for food and beverages market growth.
Based on type, the market is bifurcated into synthetic and natural. The synthetic segment is further segmented into terpenes, aldehydes, aliphatic, and others. The natural segment is further divided into essential oils, herbal extracts, oleoresins, and others. In 2022, the synthetic segment held the largest aroma ingredients for food and beverages market share. The natural segment is expected to register the highest CAGR from 2022 to 2030. Synthetic aroma ingredients are chemical compounds that mimic natural flavors found in foods and beverages. The surge in the demand for these ingredients in the food & beverages industry can be attributed to several factors. First, synthetic aroma ingredients provide consistency in flavor profile, ensuring that products taste the same every time, regardless of variations in natural ingredients. This consistency is crucial for brand identity and consumer satisfaction. Second, they offer cost-effectiveness compared to natural aroma ingredients, making them more accessible to manufacturers, particularly in large-scale production. Additionally, advancements in flavor science have led to the development of synthetic ingredients that closely replicate natural flavors, satisfying consumer preferences for familiar tastes while offering unique flavor combinations. In conclusion, concerns regarding the stability and availability of natural ingredients and regulatory pressures have further propelled the adoption of synthetic aroma ingredients in the food & beverages industry.
By geography, the aroma ingredients for food and beverages market analysis is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Asia Pacific held the largest aroma ingredient for food and beverages market share during the forecast period. Europe accounted the second largest share followed by North America. In Europe, the growing demand for aroma ingredients can be attributed to the region's rich culinary traditions and increasing preference for premium and artisanal products. There is a strong cultural appreciation for culinary traditions and cuisine across Europe. Consumers in Europe value high-quality ingredients and authentic flavors, thereby driving the demand for aroma ingredients that enhance the sensory experience. This emphasis on gourmet excellence has led to a growing market for premium aroma ingredients sourced from natural and sustainable sources, catering to the discerning tastes of European consumers. Additionally, the increasing interest in healthier and more natural food options in Europe contributes to the market growth.
International Flavors & Fragrances Inc, Sensient Technologies Corp, T Hasegawa Co Ltd, BASF SE, V Mane Fils Sas, Symrise AG, Firmenich International SA, Archer-Daniels-Midland Co, Kerry Group Plc, and Berje Inc are among the prominent players profiled in the aroma ingredients for food and beverages market report. Players operating in the market focus on providing high-quality products to fulfill customer demand.
The size of the aroma ingredients for food and beverages market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants - including valuation experts, research analysts, and key opinion leaders - specializing in the market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global aroma ingredients for food and beverages market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global aroma ingredients for food and beverages market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the aroma ingredients for food and beverages market as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Aroma Ingredients for Food and Beverages Market Landscape
5. Aroma Ingredients for Food and Beverages Market - Key Market Dynamics
6. Aroma Ingredients for Food and Beverages Market - Global Market Analysis
7. Aroma Ingredients for Food and Beverages Market Analysis - by Type
8. Aroma Ingredients for Food and Beverages Market Analysis - by Application
9. Aroma Ingredients for Food and Beverages Market - Geographical Analysis
10. Aroma Ingredients for Food and Beverages Market - Impact of COVID-19 Pandemic
11. Competitive Landscape
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Companies Mentioned
- International Flavors & Fragrances Inc
- Sensient Technologies Corp
- T Hasegawa Co Ltd
- BASF SE
- V Mane Fils Sas
- Symrise AG
- Firmenich International SA
- Archer-Daniels-Midland Co
- Kerry Group Plc
- Berje Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 1.21 Billion |
| Forecasted Market Value ( USD | $ 1.67 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
