Beverage Flavor Market is anticipated to grow at a CAGR of 5.5% during 2023-2028
The global beverage flavor market is projected to reach $9.9 billion by 2028, at a CAGR of 5.5% during 2023-2028. The growth of beverage flavor market is driven by increasing demand for flavored drink, growing consumer consciousness for exotic flavor, and emergence of favourable regulatory environment for fortified products.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the beverage flavor market by ingredients (flavoring agents, flavoring carriers, and flavor enhancers), form (dry and liquid), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the beverage flavor market?
Q.4 What are some changing demands of customers in the beverage flavor market?
Q.5 What are the new developments in the beverage flavor market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this beverage flavor area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this beverage flavor market?
Market Segmentation:
Based on ingredients, the beverage flavor market is segmented into flavoring agents, flavoring carriers, and flavor enhancers. The flavoring agents segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, as these ingredients are made up of natural and artificial origin substances and are easily available and less expensive.
APAC will remain the largest region due to rapid urbanization and growing demand for packaged and ready-to-drink beverage in countries like China, India, and Indonesia.
Key Players in the beverage flavor market are ADM, Givaudan, Sensient Technologies, Kerry Group, and Firmenich.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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Roy AlmaguerLucintel Dallas, Texas, USA Email: [email protected] Tel. 972.636.5056
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