Portland, OR — The global food flavors market is anticipated to grow at a compounded annual rate of 5.4 percent through 2025, with a projected sales total of $20.11 billion, according to Allied Market Research.
Growing consumer interest in natural food products and breakthroughs in developing natural flavor extracts from exotic fruits are expected to propel the sector, according to the research company. Natural flavors are anticipated to have the fastest growth during the forecast period, with projected gains of 9 percent.
Savory items and snacks are expected to govern the market, with compounded annual growth of 6.3 percent during the period, Allied Market Research reports. Ethnic food and drink products and the westernization of diets in emerging markets are contributing factors for the projected growth.
The research company anticipates Latin America to have the fastest growth among all global regions, at 6.1 percent for the period, thanks in part to increasing demand and growing acceptance of natural flavors.