Report : Europe Aroma Ingredients for Food and Beverages Market Forecast to 2030 - Regional Analysis - by Type {Synthetic (Terpenes, Aldehydes, Aliphatic, and Others) and Natural (Essential Oils, Herbal Extracts, Oleoresins, and Others)} and Application (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Sweet and Savory Snacks, RTE and RTC Meals, and Others)
At 2.6% CAGR, Europe Aroma Ingredients for Food and Beverages Market is Projected to be Worth US$ 420.32 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe aroma ingredients for food and beverages market was valued at US$ 341.43 million in 2022 and is expected to reach US$ 420.32 million by 2030, registering a CAGR of 2.6% from 2022 to 2030. Rising demand for aromas in plant-based food and beverages and rising trend for natural aromas are among the critical factors attributed to drive the Europe aroma ingredients for food and beverages market growth.
In recent years, the demand for plant-based food and beverages has surged owing to rising consumer awareness about health and wellness, as well as due to environmental and ethical reasons. 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.
Aroma ingredients offer a versatile and customized solution for manufacturers seeking to develop a wide range of plant-based products that cater to diverse consumer preferences and dietary needs. By harnessing aroma ingredients derived from natural sources such as fruits, vegetables, herbs, and spices, manufacturers can create authentic and appealing flavors and scents that resonate with health-conscious consumers, thereby contributing to the market growth. Further, the rising sophistication of plant-based culinary offerings, including meat alternatives, dairy alternatives, and plant-based snacks and beverages, presents ample opportunities for aroma ingredients manufacturers to innovate and collaborate with food and beverage companies. Thus, the rising demand for aromas in plant-based food and beverages is expected to fuel the global aroma ingredients for food and beverages market growth during the forecast period.
On the contrary, the regulatory compliances hamper the growth of Europe aroma ingredients for food and beverages market.
Based on type, the Europe aroma ingredients for food and beverages market is bifurcated into synthetic and natural. The synthetic segment held 56.1% market share in 2022, amassing US$ 191.56 million. It is projected to garner US$ 229.49 million by 2030 to register 2.3% 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 Europe 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 32.0% share of Europe aroma ingredients for food and beverages market in 2022, amassing US$ 109.21 million. It is projected to garner US$ 131.97 million by 2030 to expand at 2.4% CAGR from 2022 to 2030.
Based on country, the Europe aroma ingredients for food and beverages market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 38.4% share of Europe aroma ingredients for food and beverages market in 2022. It was assessed at US$ 131.14 million in 2022 and is likely to hit US$ 148.32 million by 2030, registering a CAGR of 1.6% during 2022-2030.
Key players operating in the Europe aroma ingredients for food and beverages market are International Flavors & Fragrances Inc, Sensient Technologies Corp, BASF SE, V MANE FILS SAS, Symrise AG, Firmenich International SA, Archer-Daniels-Midland Co, and Kerry Group Plc, among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com