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Food Aroma Market Size By Type (Natural, Synthetic), By Product (Benzenoids [Benzoic acid, Benzyl acetate, Vanillin, Cinnamyl, Benzaldehyde], Terpene [Limonene, Pinene, Myrcene, Linalool, Terpineol], Musk Chemicals [Muscone, Musk ambrette, Musk Ketone]), By Application (Beverages, Bakery, Dairy, Confectionery, Snacks), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2022– 2032

  • Report ID: GMI5441
  • Published Date: Feb 2023
  • Report Format: PDF

Industry Drivers

Food Aroma Market size valued at USD 790 million in 2022 and is poised to grow at over 6.5% CAGR from 2023 to 2032. Driven by a surging consumer demand for ready-to-eat convenience food products. 

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Consumers across emerging economies are increasingly paying more attention to sensory appeals such as aroma and taste while making their convenience food choices, fostering the market demand. According to reliable estimates, India’s fast-food industry is expanding at an annual rate of more than 40%, creating a heightened demand for food aromas in the regional market. With convenience food gradually becoming a staple in diets across developed countries such as typical the US is likely to create a stronger growth impetus for the industry.

Harmful effects of synthetic food aroma products to constrain the industry outlook

Food flavorings do not add nutritional value to food products and may sometimes yield negative effects on their nutritional content. Some potential effects of food additives such as food aromas include allergic reactions and food hypersensitivity. Harmful additives and preservatives are also proven to be a leading contributor to obesity, heart difficulties, and other health issues, which may constrain their adoption in the F&B sector.

Antioxidant effects of terpene to augment product segment expansion

Food Aroma Market Size, By Product

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Based on product, the food aroma market size from terpene segment held a valuation of over USD 390 million in 2022, spurred by the surging demand for authentic and natural flavors. Terpene is versatile and imparts a number of health benefits of the food while improving natural flavors present in it. The product further enhances the innate qualities already present in food owing to its aromatic qualities. Certain terpenes such as curcumin possess antioxidant, anticancer, antiseptic, and astringent properties, making their use more alluring.

The segment growth can also be ascribed to the wide availability of terpenes due to the presence of new purification and extraction methods.

Less processing time of synthetic food aromas to foster type segment growth

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of food aroma held a valuation of more than USD 790 million in 2022 and is set to expand at 6.5% CAGR from 2023 to 2032, on account of growing demand for ready-to-eat and convenience food products.

The synthetic segment was valued at over USD 530 million in 2022, driven by its less processing time and ability to replicate natural flavors, the segment is likely to foresee more growth.

The industry for food aroma in Europe is anticipated to grow at 6% CAGR during 2023 to 2032, on account of the region’s growing dairy industry.

Some of the major players partaking in the market include Solvay, Aromatech International, Givaudan, and Symrise AG, Hindustan Mint and Agro Products, and Kao Corporation.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 8
  • Tables & Figures: 658
  • Countries covered: 26
  • Pages: 451

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