Food Flavors Market Industry Share, Size, Future Demand, Global Research, Top Leading Players, Emerging Trends, Region by Forecast to 2027
According to a recently published report by Fortune Business Insights™ titled, “ Food Flavors Market Size, Share & Industry Analysis, By Type (Natural, Synthetic, and Naturally-identical), By Application (Bakery, Beverages, Confectionery, Dairy, Convenience Food, Snacks, and Others), and Regional Forecast, 2020 – 2027 ,” the market stood at USD 14.12 billion in 2019 and is anticipated to rise at a CAGR of 4.36 % between 2020 to 2027. The global flavor market size is prophesized to reach USD 19.28 billion by 2027 on account of the increasing popularity of packaged food products worldwide. The rapidly changing lifestyle of people with industrialization and modernization has led to rising inclination towards packaged and ready-to-eat food products. With the growing competition among manufacturers, new flavors in food have augmented the overall food and beverage industry. This stands as the major factor in promoting the food flavor market growth. The emergence of COVID-