Aroma Ingredients for Food and Beverages Market is expected to reach US$ 1.67 billion by 2030

Increasing Demand for Convenience Food Drives Aroma Ingredients for Food and Beverages Market Growth

According to the latest market study on “Aroma Ingredients for Food and Beverages Market Forecast to 2030 – Global and Regional Share, Trend, and Growth Opportunity Analysis – by Type and Application,” the market was valued at US$ 1.21 billion in 2022 and is projected to reach US$  1.67 billion by 2030; it is estimated to register a CAGR of 4.1% from 2022 to 2030. The report highlights key factors contributing to the aroma ingredients for food and beverages market growth and prominent players along with their developments in the market.

The aroma ingredients market for food and beverages encompasses a diverse range of natural and synthetic compounds designed to enhance the olfactory experience of consumable products. These ingredients, derived from botanical, animal, or synthetic sources, play a crucial role in shaping the flavor and aroma profile of various food and beverage items, ranging from confectionery and savory snacks to alcoholic and non-alcoholic beverages. Factors such as consumer demand for unique and exotic flavor and aroma experiences, advancements in extraction and synthesis techniques, and stringent regulatory frameworks influencing ingredient sourcing and safety standards are key drivers contributing to the aroma ingredients for food and beverages market share.

Aroma Ingredients for Food and Beverages Market Breakdown – by Region

The increasing adoption of aroma in the food & beverages industry is a significant factor contributing to the growing aroma ingredients for food and beverages market size. In the food & beverages industry, aroma ingredients have become increasingly vital for enhancing the sensory experience. Consumers are becoming more discerning and seeking products that taste good and have an appealing aroma. Moreover, in an industry characterized by huge competition, differentiation is a key to capturing consumers' attention. It has resulted in manufacturers understanding the importance of creating high-quality aroma ingredients for food and beverages to taste delicious and evoke positive sensory responses to attract consumers. Aroma ingredients offer a unique opportunity for manufacturers to differentiate their products. By experimenting with diverse aroma profiles and incorporating novel fragrance combinations, food and beverage companies can create innovative offerings that cater to evolving consumer preferences. This emphasis on differentiation through aroma allows and builds a loyal customer base, thereby driving the demand for a wide array of aroma ingredients.

Further, increasing demand for different aroma profiles has resulted in the development of technology for aroma applications. For instance, in June 2022, BASF SE announced the launch of Virtual Aroma Assistance—an online platform for a unique customer experience—to provide product services, regulatory guidelines, and describe sustainability features to consumers.

The aroma ingredients for food and beverages market trends include rising demand for natural ingredients. Consumers are becoming more conscious of the ingredients in their food and beverages, seeking products made with natural and authentic components. Natural aroma ingredients derived from sources such as fruits, herbs, spices, herbs, and botanicals resonate with growing consumer preferences for clean-label products. Key players in the market are developing natural aroma ingredients to cater to the growing consumer demand. For instance, in June 2021, Firmenich announced the launch of the Firgood collection, a new range of pure, 100% natural extracts obtained by a revolutionary, sustainable proprietary extraction technology. The launch was aimed to cater to the growing demand for natural ingredients.

Further, the preference for natural aroma ingredients extends beyond health considerations to encompass sensory experience and flavor authenticity. Natural aroma ingredients possess complex and nuanced flavor profiles that synthetic ingredients cannot replicate, providing a more authentic and satisfying culinary experience. The prominent players in the market are investing in developing natural aroma ingredients. For instance, in September 2022, Axxence Aromatic GmbH and the Dutch research institute Wageningen Plant Research, part of Wageningen University & Research, announced the long-term strategic research and development collaboration to develop natural ingredients. Thus, the increasing demand for natural aroma ingredients in the food & beverages industry is expected to be a notable trend within the aroma ingredients market in the coming years.

In recent years, the demand for plant-based food and beverages has surged owing to conscious consumerism that encompasses healthy eating habits. The raw ingredients of plant-based products such as pea, almond, or soy protein contribute to the characteristics of aroma volatiles, which may not be desirable. For instance, pea protein has been known to impart beany flavor that must be reduced in the final products. Aroma ingredients play a critical role in enhancing the sensory appeal of plant-based food and beverages by imparting familiar and desirable scents, thus making them more palatable.

The aroma ingredients for food and beverages market analysis is carried out by identifying and evaluating key players in the market across different regions. International Flavors & Fragrances Inc, Sensient Technologies Corp, T Hasegawa Co Ltd, BASF SE, V Mane Fils Sas, Symrise AG, Firmenich International SA, Archer-Daniels-Midland Co, Kerry Group Plc, and Berje Inc are among the key players profiled in the aroma ingredients for food and beverages market report.

The aroma ingredients for food and beverages market is segmented on the basis of type, application, and geography. Based on type, the market is segmented into synthetic and natural. The synthetic segment is further segmented into terpenes, aldehydes, aliphatic, and others. The natural type segment is further categorized into essential oils, herbal extracts, oleoresins, and others. In terms of application, the market is divided into bakery and confectionery, dairy and frozen desserts, beverages, sweet and savory snacks, RTE and RTC meals, and others. The scope of the aroma ingredients for food and beverages market report focuses on North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Asia Pacific accounted for the largest aroma ingredients for food and beverages market share in 2022. In Asia Pacific, the developed and developing countries are witnessing growth in urbanization, coupled with the rising middle-class population, offering several opportunities to the market players. The region is experiencing demand for diverse and innovative food and beverage options. The cultural diversity in Asia Pacific has resulted in varied dietary preferences. The region reports increased demand for plant-based food products due to the surge in vegan population. In addition, the changing consumer preferences toward healthy alternatives and surging environmental concerns post-COVID-19 pandemic have resulted in the demand for plant-based foods. According to Biospringer, around 24% of consumers in Asia Pacific are limiting their meat consumption for environmental convictions. Aroma ingredients play a crucial role in enabling manufacturers to create plant-based food products with exciting and novel aroma combinations, enhancing the appeal of their products to a wider consumer base.

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