According to Future Market Insights (FMI), the FTNF flavor market is set to be valued at US$ 3,456.0 million in 2023. It is anticipated to reach US$ 6,481.3 million by 2033. The market is anticipated to rise at a CAGR of 6.5% from 2023 to 2033.
Due to consumers’ growing preference for natural and clean-label products, FTNF flavors have become well-known in the food and beverage industry. These flavors are released onto the market by flavor and fragrance companies that specialize in developing natural flavor profiles.
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The demand for healthier and more natural food and beverage options has fueled the market for FTNF flavors. As consumer preferences and food technology advance, FTNF (from the named fruit) flavors continue to develop and find new applications in contemporary society.
Craft breweries and distilleries that cater to customers looking for artisanal and flavorful alcoholic beverages use FTNF flavors to create distinctive and natural fruit-infused beer, cider, and spirits. FTNF flavors are used in combination with natural sweeteners such as stevia or monk fruit to provide sweetness without the addition of additional sugars in response to the trend toward reducing the amount of sugar in foods and beverages.
Named fruit flavors are a reflection of a trend toward more authenticity, transparency, and natural ingredients in food and drinks. This development in the market is significant as it is driven by consumer needs for healthier and more authentic flavor experiences.
Expanding into emerging markets is providing significant growth opportunities for the FTNF flavor industry. Emerging markets such as Asia, Africa, and Latin America are experiencing rapid economic growth, urbanization, and rising healthcare awareness.
Consumers are looking for products that are perceived as healthier as there is a growing emphasis on health and wellness. Since they are perceived as being more natural and less processed than synthetic flavors, FTNF flavors fit with this trend.
In several nations, regulatory bodies are promoting the use of natural ingredients while restricting the use of artificial additives. The use of FTNF flavors in several food and beverage products has increased as a result of this regulatory support. Expanding into these markets presents an opportunity for companies to tap into new sources of revenue, increase their customer base, and establish a foothold in markets.
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Key Takeaways from the FTNF Flavor Market Report-
- The global FTNF flavor industryis expected to reach a valuation of US$ 3,456.0 million by 2033.
- The market is expected to rise at a CAGR of 5%over the forecast period.
- The United States is projected to hold the leading value share of 7% by 2023 in the FTNF flavor industry globally.
- Japan is projected to hold the leading value share of 9% by 2023 in the FTNF flavor market globally.
- India is estimated to capture a CAGR of 7% during the prediction period.
“The need for natural food ingredients has increased as consumers become more conscious of their diets. Food sustainability is becoming increasingly popular as people depend more on natural resources and are set to eat plant-based diets. Due to their hectic schedules, a lot of people choose foods that can be consumed quickly, which is why the FTNF flavor industry is changing.” – says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
The competitive landscape is set to be fueled by the presence of national and international players. Leading companies are implementing mergers and acquisitions and new product launches as key strategies to compete in the market.
Acquisitions and mergers have facilitated companies to improve product quality and expand product reach. Furthermore, launching new products in the market has supported the companies to offer demanded quality products and meet the changing consumer trends across the industry.
For instance,
- Trailblazers of innovation in the beverage industry, Parle Agro launched SMOODH Fruit Smoothies.
- Cargill makes the global food chain function better for consumers. It facilitates the connection between farmers and markets, clients and ingredients, and families and everyday necessities, ranging from food to flooring.
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Get More Valuable Insights into FTNF Flavor Market Report
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global FTNF flavor market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the FTNF flavor market based on type (natural FTNF flavors, synthetic FTNF flavors) and application (dairy, bakery, confectionery, snack, beverage, other) across regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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