Northbrook, IL 60062 -- (SBWIRE) -- 10/30/2023 -- The global Food Flavors Market is poised for substantial growth, projected to increase from USD 18.0 billion in 2022 to USD 21.3 billion by 2027, representing a Compound Annual Growth Rate (CAGR) of 3.5% during this period.

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The food flavors market is experiencing rapid growth, driven by the continuous introduction of tailored flavor combinations from global manufacturers. These manufacturers are venturing into novel avenues to expand their revenue streams by providing products uniquely designed to match consumer preferences. For instance, in March 2022, Blue Pacific Flavors unveiled an innovative platform of alcohol-inspired flavors, offering an assortment of natural flavorings.

Technological advancements such as use of artificial intelligence to understand the consumer's perception of flavors and invention of new extraction technologies are creating lucrative growth opportunities. The extraction of flavors is a complicated task. Supercritical carbon dioxide is used to extract flavors and is a harmonized technique adopted by manufacturers. Lycopene, beta-carotenoids, vanilla, essential oils, and several other flavors, are extracted using SLE technology.

Solid-liquid extraction (SLE) is an advanced technology that extracts 90% of the natural flavor. In September 2020, Ireland-based Kerry Group introduced an advanced citrus extraction technology brand called 'New! Citrus Extract' that provides all the citrus products with all their characteristics and is labelled as 'Natural Extract.' The portfolio is developed with a non-thermal liquid/ liquid extraction process, that produces highly concentrated extracts.

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North America harbors some of the leading food and beverage manufacturing companies, such as ADM, Sensient, and Synergy Flavors, continuously upgrading their product portfolios to maintain their position as key players in the food flavors market, boosting the growth of the same. Presence of companies such as ADM (US), International Flavors & Fragrances Inc. (US), Sensient Technologies Corporation (US), Synergy Flavors, Inc. (US) in the North American region contributes to the dominant position of the region.

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