North America Food Flavors Market

North America Food Flavors Market Growth and Forecast (2023 - 2028):

North America Food Flavors Market has been estimated at USD 9.16 Million in 2022 and is projected to reach USD 12.43 Million by 2028, at a CAGR of 6.28% during the forecast period from 2023 to 2028.

Market Overview:

Food flavors are added to food products to either deliver a specific flavor or to enhance an existing flavor. Flavor additives mainly include natural and synthesized flavors. They are essential part of the food processing industry to maintain and enhance the taste of a product as perishable foods after processing and preserving tend to lose their flavor over a period of time.

Driers and Restraints:

The market for Food Flavors in North America is mainly driven due to changing lifestyle of consumers, increase in demand for convenience food and development of global beverage industry in terms of packaging and safe logistics. Also, demand for organic and healthy food products and changing consumer preferences is also driving the market for food flavors.  But, the market growth can be constrained due to rising raw material prices, bargaining power of customer and supplier, high entry barriers and price pressure on manufacturers.

North America Food Flavors Market Segmentation Analysis:

North America market for Food Flavors is segmented based on type, source and application. By type, the market is further sub-segmented into Chocolate, Vanilla, Fruits & Nuts. By Origin, the market is further sub-segmented into Natural and Synthetic.  By Application, the market is further sub-segmented into Beverages, Savory & Snacks, Bakery & Confectionery, Dairy & Frozen Products, Others. Beverage flavor products segment is the largest in terms of revenue, closely followed by bakery & confectionery and savory & snacks flavors segments. Growth for dairy and frozen product flavors due to high demand of meat flavor products.

Region Analysis:

Geographically the North America Food Flavors Market is segmented into US, Canada and Rest of North America. North America is the biggest market in terms of market share across the globe. The North American market for food flavors is witnessing a considerable growth due to increase in packaged food consumption in developed economies of U.S. and Canada.

Key Players in the market:

Major Key Players in the North America Food Flavors Market are

• Kerry Group
• Givaudan
• Firmenich
• Sensient Technologies Corporation
• Symrise AG
• Frutarom Industries
• Archer Daniels Midland Company
• DohlerGroup
• AGRANA Group
• SVZ International B.V
• SunOpta, Inc