The continuous developments in biotechnology, particularly in the fields of fermentation and microbial engineering, are driving the manufacturing of natural flavors.
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The global biotech flavor market is expected to grow at a compound annual growth rate of 7.2% over the next ten years, according to a new report from market intelligence provider Fact.MR.
Report Highlights
- The global biotech flavor market is estimated at $34.4 billion in 2024.
- The North American region leads the market with a 23.9% market share in 2024.
- Demand for biotech flavors in South Korea is expected to rise 8% from 2024 to 2034.
- The application of biotech flavors in beverages is expected to increase by 7.2% through 2034.
“Prominent biotech flavor companies are investing in R&D activities to generate new and advanced microbial flavors that enhance product offerings and meet evolving customer expectations for distinctive flavors and health benefits,” said an analyst with Fact.MR.
