Food Flavors Market Size, Share, Growth Analysis, By Labelling/Regulation(Natural Flavors (Chocolate & Brown, Vanilla, Fruit & Nut, Dairy), By Form(Liquid & Gel, Dry), By Type(Chocolate & Brown (Dark Chocolate, Milk Chocolate, White Chocolate, Caramel)), By Application(Food (Dairy Products, Confectionery Products, Supplements & Sports Nutrition, Bakery Products), By Region - Industry Forecast 2024-2031

Global Food Flavors Market size was valued at USD 17.00 billion in 2022 and is poised to grow from USD 17.71 billion in 2023 to USD 24.62 billion by 2031, at a CAGR of 4.2% during the forecast period (2024-2031). 

The global food flavors market is experiencing rapid growth due to the rising demand for processed and comfort foods. The market is also being driven by increased consumption of confectionary items. As the food and beverage industry continues to improve through new technology and innovative experimentation, flavor consumption is increasing. Companies are using new technologies to create better kinds of natural and synthetic flavors for improved stability and appropriateness. However, tropical fruit tastes are often lost during processing, prompting manufacturers to develop new technology to preserve the flavor.

The demand for natural food consumption is also on the rise, and the food industry is working to provide new taste sources. For instance, castoreum extract, a natural flavoring derived from a beaver's anal glands, is now being used in beverages, confectionery, dairy, and desserts as a natural flavoring. This extract, among other natural flavoring compounds, presents many opportunities for food flavoring companies. Apart from providing better taste, flavors also offer health benefits such as improved immunity and organ health. In addition, they can be used to mask off-flavors in certain foods. As the global food flavors market continues to expand, manufacturers are expected to invest in research and development to create new and unique flavor profiles that meet the changing needs and preferences of consumers. Recently, the FDA has focused on the safety of flavors that contain diacetyl, a chemical commonly used to add buttery flavor to popcorn, baked goods, and other products. Inhaling diacetyl has been linked to a serious lung disease known as "popcorn lung" in workers at popcorn factories. As a result, the FDA has recommended that manufacturers of food and flavor products take steps to reduce or eliminate the use of diacetyl in their products. The FDA has also issued guidance on the use of natural and artificial flavors in food products. The agency requires that flavor ingredients are safe for consumption and are properly labeled on food packaging. Additionally, the FDA provides guidance on the use of flavorings in specific food categories such as soft drinks, chewing gum, and candy.