At 3.9% CAGR, North America Aroma Ingredients for Food and Beverages Market is Projected to be Worth US$ 393.28 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America aroma ingredients for food and beverages market was valued at US$ 290.62 million in 2022 and is expected to reach US$ 393.28 million by 2030, registering a CAGR of 3.9% from 2022 to 2030. Rising trend for natural aromas and strategic initiatives by key market players are among the critical factors attributed to drive the North America aroma ingredients for food and beverages market growth.

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.

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.

On the contrary, the regulatory compliances the growth of North America aroma ingredients for food and beverages market.

Based on type, the North America aroma ingredients for food and beverages market is bifurcated into synthetic and natural. The synthetic segment held 54.1% market share in 2022, amassing US$ 157.17 million. It is projected to garner US$ 200.72 million by 2030 to register 3.1% CAGR during 2022-2030. Furthermore, the synthetic segment is further sub segmented into terpenes, aldehydes, aliphatic, and others. Additionally, the natural segment is further sub segmented into essential oils, herbal extracts, oleoresins, and others.

By application, the North America aroma ingredients for food and beverages market is categorized into bakery and confectionery, dairy and frozen desserts, beverages, sweet and savory snacks, RTE and RTC meals, and others. The bakery and confectionery segment held 30.7% share of North America aroma ingredients for food and beverages market in 2022, amassing US$ 89.27 million. It is projected to garner US$ 114.93 million by 2030 to expand at 3.2% CAGR from 2022 to 2030.

Based on country, the North America aroma ingredients for food and beverages market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 70.7% share of North America aroma ingredients for food and beverages market in 2022. It was assessed at US$ 205.59 million in 2022 and is likely to hit US$ 260.22 million by 2030, registering a CAGR of 3.0% during 2022-2030.

Key players operating in the North America aroma ingredients for food and beverages market are 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, among others.

• In November 2021, Symrise and Van Aroma, the world's largest supplier of patchouli oil, have launched the Nilampedia platform for Indonesian farmers on YouTube and Facebook. The platform aims to educate farmers on sustainable patchouli cultivation, improve living conditions, and secure high-quality oil supply. It provides interactive opportunities for real-time discussions on agronomical challenges. The platform is part of a Bridging the gap project.
  
  
• In June 2023, Kerry introduced the next-generation Tastesense, an Advanced range of solutions designed to revolutionize the low and zero-sugar food market by providing exceptional sweetness, rich mouthfeel, and sustainability benefits.
  
  

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