Beverage Flavoring System Market size is expected to reach USD 7.0 billion by 2028
Beverage Flavoring System Industry Overview The global beverage flavoring system market size was estimated at USD 4.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2020 to 2028. The availability of a wide variety of beverages such as sparkling drinks, juices, energy drinks, flavored milk, mocktails, smoothies, tonic water, beer, wine, cider, cocktails, hard alcohol, alcohol-free cocktails, spiked sodas, alcohol-free beers, and spirits and their increasing consumption is driving the demand for beverage flavoring system. A flavoring system refers to the combination of varied ingredients such as flavoring agents, flavor carriers, flavor enhancers, preservatives, emulsifiers, and stabilizers among others. These ingredients enhance the flavor or taste of alcoholic and non-alcoholic beverages. The increasing awareness about the various ingredients among manufacturers along with their respective functionalities is drivi...