A recent study by Technavio found that the chocolate flavor market is expected to grow by $116.96 million during the forecast period of 2021 to 2025.
Technavio's latest market research report estimates that the chocolate flavor market will progress at a CAGR of 5.24%. This report dives into an analysis of the current market scenario, the latest trends and drivers and the overall market environment.
The growing popularity of chocolate flavor-based baked goods, increasing launch of chocolate flavor-based products and rising demand for organic chocolate flavor will offer immense growth opportunities for companies to expand their offerings and cater to current customer demands.
However, the report also suggests that the stringent food safety regulations and guidelines will hamper the market growth and create challenges for flavor formulators to not only provide quality taste but get creative with flavor innovations while still adhering to regulations.