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The North America food flavors market reached approximately USD 5.10 billion in 2023. The market is projected to grow at a CAGR of 5.0% between 2024 and 2032, reaching a value of around USD 7.91 billion by 2032.
North America Food Flavors Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 5.10 |
Market Size 2032 | USD Billion | 7.91 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 5.0% |
CAGR 2024-2032 - Market by Region | United States | 5.5% |
CAGR 2024-2032 - Market by Region | Canada | 4.5% |
CAGR 2024-2032 - Market by Application | Beverages | 5.7% |
CAGR 2024-2032 - Market by Source | Fruits & Vegetables | 5.5% |
Market Share by Country | United States | XX% |
The market is driven by the growth of the food and beverages sector and the increasing demand for processed food products. The busy lifestyles of people and rising disposable incomes support the consumption of processed foods, contributing to the demand for a range of additives and food flavors. Further, the food flavors demand in North America benefits from the growing popularity of exotic and traditional flavors as a result of the region’s diverse population. In the US, the Asian and Hispanic populations have witnessed a considerable growth, enhancing the popularity of ethnic dishes and various flavor blends.
Moreover, there has been a rapid surge in the demand for natural food products, which is contributing to the demand for high-value additives and natural flavors. The growing health consciousness is driving the demand for sustainable and clean-label products in the region, encouraging manufacturers to offer additives that are plant-based, non-GMO, and sugar-free.
CAGR 2024-2032 - Market by | Application |
Beverages | 5.7% |
Dairy & Frozen Products | 5.4% |
Bakery & Confectionery | 5.1% |
Savory & Snacks | 4.8% |
Others | 4.5% |
These growth rates reflect the evolving consumer preferences and the importance of natural and diverse flavor sources in the food flavors market.
CAGR 2024-2032 - Market by | Source |
Fruits & Vegetables | 5.5% |
Dairy | 5.3% |
Herbs & Spices | 4.8% |
Others | 4.5% |
The United States leads with a CAGR of 5.5% from 2024 to 2032. This growth is driven by the increasing consumer demand for diverse and innovative flavors in food and beverages, as well as the strong presence of food processing industries and continuous product innovation. The rising trend towards natural and organic flavors also contributes to the market expansion in the U.S. Canada, with a CAGR of 4.5%, follows closely, supported by similar trends in consumer preferences for unique and healthy flavors.
CAGR 2024-2032 - Market by | Country |
United States | 5.5% |
Canada | 4.5% |
The growth of North America food flavors market in Canada is further fuelled by the expanding food and beverage industry, increased health consciousness, and the rising demand for clean-label products. These growth rates reflect the dynamic nature of the food flavors market in North America, driven by changing consumer tastes and preferences.
Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the North America food flavors market spanning from 2018 to 2032.
The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the North America food flavors industry.
Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the North America food flavors market.
The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.
Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the North America food flavors market landscape.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Source |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Food Flavors Market Overview
8.1 Key Industry Highlights
8.2 North America Food Flavors Historical Market (2018-2023)
8.3 North America Food Flavors Market Forecast (2024-2032)
9 North America Food Flavors Market by Type
9.1 Natural
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Artificial
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 North America Food Flavors Market by Application
10.1 Beverages
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Dairy & Frozen Products
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Bakery & Confectionery
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Savory & Snacks
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 North America Food Flavors Market by Source
11.1 Fruits & Vegetables
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Dairy
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Herbs & Spices
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 North America Food Flavors Market by Country
12.1 United States
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Canada
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Givaudan
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 International Flavors & Fragrances Inc.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Firmenich SA
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Symrise AG
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Sensient Technologies Corporation
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
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