The flavors and fragrances market is set to expand at a CAGR of 5.1% between 2021 and 2026.
The flavors and fragrances market is set to reach $37.3 billion by 2026 and expand at a CAGR of 5.1% between 2021 and 2026, according to a recent report released by MarketsandMarkets Research.
A key driver for the market growth is increasing consumer preference toward convenience foods.
Highlights of report:
- Synthetic is the largest ingredient of flavors and fragrances for the market in 2020.
- APAC is expected to be the largest flavors and fragrances market during the forecast period.
- Natural ingredient is projected to record a higher growth rate than synthetic between 2021 and 2026.
