Food Aroma Market Analysis

Food Aroma Market Analysis

The food aroma market from the synthetic segment exceeded USD 530 million revenue in 2022. The artificial flavors are less expensive and entail less processing, making them an affordable investment for food companies. Synthetic aroma chemicals can easily replicate the fragrance of natural aroma chemicals for snacks, carbonated sodas, candies, and can also be used to impart flavors to dairy items such as milkshakes, ice creams, and yogurts. They are also commonly used in the baked goods sector to replicate natural flavors or formulate new ones. 
 

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.  
 

On a regional spectrum, the Europe food aroma market is slated to witness 6% CAGR through 2032, on account of the region’s growing dairy industry. According to reliable estimates, the region produced over 161 million tonnes of raw milk in 2021, which represents a year-on-year increase of 0.7 million tonnes. Global consumers have shown a rising interest in exotic flavors and international cuisines, particularly from Europe. This has increased the use of food aromas for the creation of distinctive as well as appealing flavors from Europe.
 

In 2021, wine, confectionary, chocolate, and cereal-based products had the highest export values and held over 18% of total EU agri-food exports. Meanwhile, the strong presence of industry players such as BASF and Solvay coupled with the wide availability of aromas, for creating complex and distinctive flavor profiles. 
 

With respect to application, food aroma market from the beverages segment crossed USD 290 billion revenue in 2022, attributed to the growing popularity of different aroma compounds in the food and beverages sector to produce novel taste experiences, to set the products apart from rivals and improve flavors. In fact, in September 2022, Solvay, a Belgian multinational chemical firm, launched new natural vanillin flavors for the food and beverages industry.
 

Furthermore, increasing use of musk chemicals such as ambrette are widely in alcoholic and non-alcoholic beverages is also proliferating the market growth.