Vegan Flavor Market

Vegan Flavor Market Outlook (2024 to 2034)

The global market for vegan flavor will be valued at US$ 9,454.0 million by 2024 and has been forecasted to expand at a noteworthy CAGR of 4.8% to reach US$ 15,108.8 million by 2034. Herbs & Spice will be worth around US$ 2,609.3 million in 2024 and account for a 27.6% share of the global market.

The vegan flavor market is witnessing good growth globally due to the increasing adoption of plant-based diets and consumer awareness of health, sustainability, and animal welfare. The demand for such flavors is growing rapidly because it is derived from natural source, a very important element in making meat and dairy alternatives more attractive the traditional products that are derived from animals.

The major food manufacturers are heavily investing in research and development to create authentic-tasting vegan flavors, especially on umami and savory profiles that replicate meat tastes. Innovation in natural extraction technologies and fermentation processes for clean-label vegan flavors is being observed in the market.

It has shown growth in innovative methods of plant-based extraction, growing demand for meat and dairy alternatives, and substantial investment in R&D by the food majors. The distribution network is growing, regulatory issues are positive, and the more developed segment of young consumers in Asia-Pacific, is developing a prospective food market.

Report Attributes	Details
Vegan Flavor Market Size (2023A)	US$ 9,021.0 Million
Estimated Market Value (2024E)	US$ 9,454.0 Million
Forecasted Market Value (2034F)	US$ 15,108.8 Million
Global Market Growth Rate (2024-2034)	4.8% CAGR
East Asia Market Share (2024)	22.4%
United States Market Growth Rate (2024-2034)	5.2% CAGR
Key Companies Profiled	International Flavors & Fragrances Inc.; Givaudan SA; Sensient Technologies Corporation; Symrise AG; DSM N.V.; Takasago International Corporation; McCormick & Company, Inc.; Kerry Group; Döhler GmbH; Innova Flavors; The Edlong Corporation; Mane SA; Other Prominent Players

Sales Analysis of Vegan Flavor (2019 to 2023) vs. Market Forecasts (2024 to 2034)

The value of the vegan flavor market was US$ 7,409.8 million in 2019 and it will increase to US$ 9,021.0 million by 2023, expanding at a CAGR of 4.0%.

• Short Term (2024 to 2028): Between the years 2024 and 2028, increasing consumer preference for plant-based alternatives and growing health consciousness is bolstering demand, the growth of plant-based meat and dairy alternatives in this age is witnessing rapid expansion and these now demand sophisticated vegan flavoring solutions. Leading food manufacturers are investing in new, advanced flavor technologies to ensure that the taste profiles sound more authentic. Gaining momentum in business through the mainstreaming of veganism, in many areas such as North America and Europe coupled with a great deal of the focus for research and development on clean-label is driving demand for vegan flavors.
• Medium Term (2028 to 2030): Between the years 2028 and 2030, consumers are expected to move towards plant-based diets for health, environmental, and ethical reasons, there is a growing demand in the market for vegan alternatives so flavor manufacturers are providing vegan-friendly innovations. Due to advancements brought about by these factors, many companies have been able to use natural healthy plant-based materials to create flavors that have been traditionally used, that is flavors that not only meet the demands of vegetarians but also bring the traditional flavors to life through their tastes and textures. Major companies in the sector are concentrating on broadening their reach in the product range, especially for vegan flavor applications targeted to the dairy and meat alternative segments, which are high-growth areas.
• Long Term (2030 to 2034): During the period from 2030 to 2034, Dynamic growth is expected in the vegan flavor market due to massive shifts in consumer demand towards sustainable and plant-based products. The mainstreaming of vegan flavor applications will serve as the primary market-centric driver for this period across the food and beverage sectors. As consumers continue seeking alternatives to traditional flavors through a vegan route, food manufacturers are expected to invest highly into developing versatile, plant-based flavor solutions to sustain differentiation. Advances in natural flavor technology will enable companies to better capture authentic, rich taste profiles, especially in the most in-demand areas: snacks, beverages, and prepared foods.

On the back of the aforementioned facts, the add-back flavors market is anticipated to grow at a CAGR of 4.8% during the forecast period from 2024-2034, according to the Fact.MR, a market research and competitive intelligence provider.

Market Dynamics

What are the Key Trends in the Market for Vegan flavors?

“Labeling on Food Products Change Consumer Preference toward Vegan Products.”

The modern technologies allow consumers to enter smart labels, which give them information on tracing the route that goods have taken as well as cross-check it with each of their different qualities. Consumers are requiring that more transparency be instituted into products by food companies and demand more than what status stands for free from, ingredient, and nutritional level. Buyers are always anxious to know the origin-from where and how those ingredients were sourced up till the final product. In the food and beverage industry, it is expected that there will be a major concern like trust and transparency; but governments have not laid strict regulations and guidelines regarding clean labeling.

For instance, companies have started using clean labeling as a catchword for promotional and marketing purposes, and have taken advantage of this to sell their products as clean label products. Manufacturers need to adopt cleaner practices to sell their clean-label food products without alienating the trust of consumers. Therefore, many companies have developed clean-label vegan flavors to attract health-conscious consumers.

“Plant-based Products at a Lucrative Nexus of Both Health and Ethical Consumerism”

Active and influential engagement in social media and information technology has created an awareness among consumers of the impact of their food consumption on the environment. In many cases, cruelty against animals and health concerns have a more pronounced buying power among consumers, particularly in developed regions such as Europe and North America.

People comprehend meat consumption and its contribution to various non-infectious diseases. To prevent the occurrence of such ailments as well as tackle obesity, individuals are excluding meat from their meals, which in the long term will be likely to promote vegetarianism.

From meat substitutes to vegan treats, plant-based products have evolved their scope and presence in various food categories. Hence, even more of these products are expected to spread around the world, especially now with the regulatory support concerning sustainable sourcing and transparency of the product. They embody the principles of health and ethics and in this regard, such options are not only aspirational but also quite clearly the defining trends in the coming years, propelling growth in all sectors of food and beverages markets.

What are the challenges encountered by the processing of vegan flavor?

“Fluctuating supply of plant-based raw materials can lead to disruptions and delays in production timelines”

The vegan flavor sector faces a major obstacle as the availability of plant-based raw materials varies over time, causing delays in production and hindrances in the supply chain. Shortages and price fluctuations are caused by such factors as seasonal patterns, the effects of global warming, and growing consumption demand. In addition, sourcing plant-based materials from different geographies compound the problem as political instability and transport barriers hinder accessibility.

For such challenges, flavor manufacturers typically have other sources of supply apart from the primary one or if possible they seek local alternatives or tend to have binding contracts with suppliers to ensure supply, but these solutions are mostly expensive and require more logistics. Under such environments, a good and prudent approach is required in order to ensure the product quality and pricing as well as stability of the supply chain conducive to the provision of consistent and high quality vegan flavours within growing trend of plant based products.

Country-wise Insights

Why is the United States Emerging as a Significant Player in the Market?

“Adoption of Plant-based Diets Emerges as a Significant Player”

The market in the United States is estimated at US$ 1,005.5 million in 2024 and is projected to expand at a CAGR of 5.2% through 2034. This market is projected to generate a US$ 668.7 million absolute opportunity from 2024 to 2034.

The rising popularity of plant-based diets among consumers is helping the United States to strengthen its standing within the global market for vegan flavors. The whole desire is driven by the modern culture characterized by concerns about healthy living and an intense pledge towards individuals' environmental and ethical treatment. More people are demanding vegan flavors because of this.

It is also in line with the increasing concern about the environmental degradation which is caused by conventional forms of farming and the universal shift to sustainable foods. The emergence and transformation of the United States market are characterized by ever-changing consumer tastes preferences and needs in this case there is also a system of pragmatic food industry that encourages further development of them active. In a similar way to big food corporations, start-ups are turning their attention towards the technology of flavor extraction, innovation of new products, and promotion of health and ethics and such consumers.

What Thrives the Vegan Flavor Market of China to Grow?

“Rise in Demand for Vegan Foods Boosts the China Market”

The plant-based food sector in China is increasing as most consumers, especially those living in metropolises such as Beijing and Shanghai, are becoming more health conscious and taking to plant-based diets. This rise is facilitated by the health-conscious young consumers, the effect of adapted vegetarian cuisines from Chinese traditions, and the concern for the more eco-friendly plant-based diets.

With consideration of increased disposable incomes and better exposure to products, vegans or potential vegans have emerged in the recent economic strata and compelled both local and global firms to create a new range of products. The demand is especially large in towns, where due to the increasing popularity of Chinese foods without meat, chain restaurants and food producers try to incorporate these certain plant products in their menus and offer them for sale.

Category-wise Insights

Should Vegan Flavor Manufacturers Target the Dairy & Confectionery Industry?

“Rising consumer interest in plant-based dairy alternatives enhances market opportunities for vegan flavors”

Increasing consumer awareness towards plant-based dairy substitutes is substantially bolstering market avenues for vegan flavors. Since many people are switching to plant-based diets due to health, environmental, and ethical reasons, the supply of dairy-like products is on the rise. This change is reflected in the emerging trends of taste-specific products such as flavored almond, oat, and soy milk as well as non-dairy yogurts and cheese. Such changes have created a ready market for flavor manufacturers since these products often call for creative vegan flavors to recreate the essence of dairy products.

Component of food has become highly regarded by many modern-day consumers, they also look for the existing kind of food that goes beyond the health claims. This can be good for plant-based dairy product manufacturers who develop sweeteners and sensory flavors to appeal to as many consumers as possible. Also, the increasing presence of health-focused consumers who are looking for low-calorie and low-sugar dairy alternative products has intensified the need for synthetic vegan flavors.

Why are Fruit Flavors Gaining Popularity in Vegan Flavors?

“Fruits are the natural source of sweetness which lowers the use of added sugar in vegan products”

Fruits have a natural tendency towards sweetness that lessens the probability of using added sugars, especially in vegan formulations, which makes them a favorable dietary option. This inherent sweetness contributes to the taste without diluting the emphasis on a trend that promotes low-sugar and highly processed food-free products. The fact that sweetness comes from fruits enables the fulfillment of the demand for taste without the use of internally or excessively externally manufactured chemical sweetening agents, which most people are averse to.

Besides, the presence of vitamins, minerals, and antioxidants further increases the nutritional value of fruits, thus increasing the marketability of these vegan products to the health-conscious population. By using fruit flavors, in the case of such designs, the brands can bake ‘unhealthy’ tasting products but sell them as potent or healthy, thus fruit flavors are a logical option for these oriented customers.

What Drives the Steady Expansion of the Fusion Segment?

“Unique and Diverse Taste Experiences Drive the Steady Expansion of the Segment”

The category of vegan fusion cuisine is increasingly thriving as people mix different cuisines and plan their menus around only plant-based ingredients to create unique flavors. This increase is driven by social media trends, enhanced flavor development technologies as well as cultural consumers being less restrictive towards unorthodox flavors while chefs and food producers work even harder to create vegan options that have more local and global influences.

It is also important to note that the focal attraction of the urban segment helps to illustrate the success of the segment integration which is that a large population of residents encourages the multiculturism-created plant-based food experiences that also cut across the local culture there by giving rise to fusion flavors within the wider plant-based market architecture.

Competitive Landscape & Market Developments

• Givaudan SA: In Oct 2024, Givaudan, the world leader in Taste & Wellbeing, announced the construction of a new production plant in Cikarang-Indonesia, underlining the company’s engagement to the Southeast Asia region.
• Symrise AG: In Aug 2023, Symrise AG is broadening its conventional citrus flavor solution offerings. The inclusion of new citrus flavor ingredients enhances supply chain security and further helps in the cushioning of price options. In this way, the organization is also offering a non-fruit optimized for the above taste enhancement which helps in retaining original taste profiles and helps the company in further strengthening its stand in taste, nutrition and health solutions.
• McCormick & Company, Inc.: Apr 2023, McCormick and Tabitha Brown deepen their collaboration by introducing five new complimentary seasoning products that are all total vegan has salt free compositions, they include blends for all purposes, taco and burger seasoning mixes as well as one for sautéing vegetables.

Fact.MR has provided detailed information about the price points of key manufacturers of add-back flavors positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Vegan Flavor Market Research

• By Source :

  • Vegetables
  • Fruits
  • Algae
  • Herbs & Spice
  • Fusion

• By Form Type :

  • Powder
  • Blended
  • Liquid
  • Oil
  • Others

• By Applications :

  • Food Bakery Products
  • Confectionery Items
  • Dairy & Desserts
  • Processed Food
  • Beverage Industry
  • Dietary Supplements
  • Pharmaceutical Industry
  • Others

• By Sales Channel :

  • B2B / HoReCa
  • B2C
    • Hypermarkets /Supermarkets
    • Convenience Stores
    • Food Specialty Stores
    • Online Retail
    • Other Retail Formats

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa