Lucintel Forecasts Beverage Flavor Market to Reach $9.9 Billion by 2028

CITY, Country, 2023-May-18 — /EPR Network/ —

According to the recent study the beverage flavor market is projected to reach an estimated $9.9 billion by 2028 from $7.5 billion in 2023, at a CAGR of 5.5% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for flavored drink, growing consumer consciousness for exotic flavor, and emergence of favourable regulatory environment for fortified products.

A more than 150 – page report is developed to understand trends, opportunities and forecast in beverage flavor market by ingredients (flavoring agents, flavoring carriers, and flavor enhancers), form (dry and liquid), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link https://www.lucintel.com/beverage-flavor-market.aspx

“Flavoring agents market is expected to remain the largest segment during the forecast period.”

Based on ingredients, the beverage flavor market is segmented into flavoring agents, flavoring carriers, and flavor enhancers. Lucintel forecasts that the flavoring agents market is expected to remain the largest segment as these ingredients are made up of natural and artificial origin substances and are easily available and less expensive.

“Within the beverage flavor market, the liquid segment is expected to remain the largest form”

Based on form the liquid segment is expected to witness the highest growth over the forecast period as it can easily be processed into a wide range of beverages, such as carbonated soft drinks, energy drinks, and flavored waters and is convenient and easier to use.

“Asia pacific will dominate the beverage flavor market in near future”

APAC will remain the largest region due to rapid urbanization and growing demand for packaged and ready-to-drink beverage in countries like China, India, and Indonesia.

Download Brochure of this report by clicking on https://www.lucintel.com/beverage-flavor-market.aspx

Major players of beverage flavor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ADM, Givaudan, Sensient Technologies, Kerry Group, and Firmenich are among the major beverage flavor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/beverage-flavor-market.aspx or helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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