Global Plant-Based Natural Flavor Market Size To Exceed USD 12.73 Billion By 2033 | CAGR Of 7.46%
Category: Food & BeveragesGlobal Plant-Based Natural Flavor Market Size To Exceed USD 12.73 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Plant-Based Natural Flavor Market Size is expected to Grow from USD 6.2 Billion in 2023 to USD 12.73 Billion by 2033, at a CAGR of 7.46% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 100 Market data tables and figures & charts from the report on the “Global Plant-Based Natural Flavor Market Size, Share, and COVID-19 Impact Analysis By Product Type (Liquid, Powder, ands Paste), By Application (Beverages, Bakery and Confectionery, Dairy and Frozen Desserts, Savory and Snacks, and Others), By Source (Fruits, Vegetables, Herbs and Spices, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/plant-based-natural-flavor-market
The plant-based natural flavor market refers to flavoring substances that is extracted or derived solely from plant materials like fruits, vegetables, herbs, spices, or seeds through natural processes such as pressing, distillation, or fermentation. They are free of synthetic chemicals and animal-derived materials, thus acceptable for clean-label, vegetarian, and vegan food and beverage applications. Product development and innovation are another key opportunity in the market for plant-based natural flavor. Companies are spending money on research and development to develop new and exciting products that meet changing consumer tastes. Exotic and ethnic flavors are driving innovation, with firms trying out different plant sources and blends of flavors. Furthermore, improvements in extraction and processing technologies are allowing for the manufacture of high-quality natural flavors with improved flavor profiles and stability, thereby creating new opportunities for market development. However, the availability and consistency of raw materials can also be influenced by climatic alterations, seasonality, and supply chain disruptions. These problems can interfere with the plant-based natural flavor's pricing and availability, becoming a market growth threat.
The liquid segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on product type, the plant-based natural flavor market is segmented into liquid, powder, and paste. Among these, the liquid segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to their flexibility and the capacity to preserve the original intensity of the flavor without any modification during processing.
The beverage aviation accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on application, the global plant-based natural flavor market is divided into beverages, bakery and confectionery, dairy and frozen desserts, savory and snacks, and other. Among these, the beverage segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by the growth of low-cost carriers, and the growth of established airlines is also contributing to the growing popularity of plant-based drinks like smoothies, juices, and flavored.
The fruits segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the source, the global plant-based natural flavor market is categorized into fruits, vegetables, herbs and spices, and others. Among these, the fruits segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to their broad range of taste profiles, natural sweetness, favored consumer status, and clean-label acceptance.
North America is expected to hold the majority share of the global plant-based natural flavor market during the forecast period.
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North America is expected to hold the majority share of the global plant-based natural flavor market during the forecast period. North Americans dominate the area is also experiencing growth in product innovation as well as the introduction of new tastes by companies trying to accommodate the varied tastes.
Asia-Pacific is anticipated to grow at the fastest pace in the global plant-based natural flavor market during the forecast period. The market is driven by the region is also experiencing growing health awareness and knowledge about the advantages of natural and organic products, which are further boosting market growth.
Major vendors in the global plant-based natural flavor market are Rolls-Royce Holdings plc, Safran S.A., Meggitt PLC, Thales Group, Lufthansa Technik, Embraer S.A., Pratt & Whitney, BAE Systems, Northrop Grumman Corporation, SITAONAIR, Curtiss-Wright Corporation, FLYHT Aerospace Solutions Ltd., GE Aviation, AeroMechanical Services Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In October 2023, Nestle launched three different varieties of fish alternatives in geographies and brands.
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the plant-based natural flavor market based on the below-mentioned segments:
Global Plant-based Natural Flavor Market, By Product Type
- Liquid
- Powder
- Paste
Global Plant-based Natural Flavor Market, By Application
- Beverages
- Bakery and Confectionery
- Dairy and Frozen Desserts
- Savory and Snacks
- Others
Global Plant-based Natural Flavor Market, By Source
- Fruits
- Vegetables
- Herbs and Spices
- Others
Global Plant-based Natural Flavor Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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