Report : Middle East & Africa 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 4.2% CAGR, Middle East & Africa Aroma Ingredients for Food and Beverages Market is Projected to be Worth US$ 84.50 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa aroma ingredients for food and beverages market was valued at US$ 60.65 million in 2022 and is expected to reach US$ 84.50 million by 2030, registering a CAGR of 4.2% from 2022 to 2030. Increasing importance of aroma in food & beverage industry and rising trend for natural aromas are among the critical factors attributed to drive the Middle East & Africa aroma ingredients for food and beverages market growth.
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. This demand 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. Such developments have led to the easy incorporation of aroma ingredients in the food & beverages industry. Thus, the increasing importance of aroma in the food & beverage industry drives market growth.
On the contrary, the regulatory compliances hamper the growth of Middle East & Africa aroma ingredients for food and beverages market.
Based on type, the Middle East & Africa aroma ingredients for food and beverages market is bifurcated into synthetic and natural. The synthetic segment held 58.2% market share in 2022, amassing US$ 35.30 million. It is projected to garner US$ 46.34 million by 2030 to register 3.5% 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 Middle East & Africa 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 34.8% share of Middle East & Africa aroma ingredients for food and beverages market in 2022, amassing US$ 21.11 million. It is projected to garner US$ 27.92 million by 2030 to expand at 3.6% CAGR from 2022 to 2030.
Based on country, the Middle East & Africa aroma ingredients for food and beverages market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 42.1% share of Middle East & Africa aroma ingredients for food and beverages market in 2022. It was assessed at US$ 25.56 million in 2022 and is likely to hit US$ 31.80 million by 2030, registering a CAGR of 2.8% during 2022-2030.
Key players operating in the Middle East & Africa 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.
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