October, 2024
The U.S. flavouring syrup and concentrate manufacturing market is dominated by two leading players, who together made up 73% of the total U.S. market share in 2024, namely The Coca-Cola Company (40%) and PepsiCo, Inc. (33%). The remaining 27% of the market comprised various smaller companies.
These companies come under FEMA or Flavor and Extract Manufacturers Association in the United States. The body was established in 1909 and has been working with the U.S. Food and Drug Administration to meet safety and consumption standards. The FEMA Expert Panel is the primary body for evaluating the safety of food flavouring for the flavour industry and the public through its "generally recognized as safe" assessment of flavouring substances.
The liquid flavours market growth is driven by consumers' growing need for various flavoured drinks and food items and a massive spike in demand for food and beverages. Growing disposable incomes and increased access to markets due to supply chain optimizations and the expansion of e-commerce have also helped the market grow significantly. This market includes various liquid flavour options, both natural and artificial, for different applications such as beverages, candies, dairy products, and baked goods. The increase in healthier living resulted in the rise in the need for natural and organic liquid flavours made from fruits, vegetables, and herbs, as consumers are more inclined towards products with fewer artificial additives and preservatives.
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