Flavor and color solutions industry leader Flavorchem Corp. has released a report detailing the top trending flavors in home baking.
Based on retail sales data from IRI, the list, with comments from Flavorchem, includes:
#5 Coconut – With a 318% increase in the number of products launched with coconut flavor from 2010 to 2016, the rise in coconut flavoring in bakery products is predominantly due to Millennials perception of coconut as a better-for-you ingredient. 
#4 Peppermint – The seasonal appeal of peppermint keeps it at the top of the list. While it did see a slight decline in sales of from 2017 to 2018, peppermint extract still has appeal in a variety of recipes for home bakers.
#3 Lemon – As tart and tangy flavors temper sweetness in bakery items, lemon continues to be a popular extract flavor with limitless creative opportunities for at-home recipes.
#2 Almond – The tendency for almond flavor to carry and enhance other flavors from lemon and honey to ginger and cherry has consistently kept this flavor in the #2 position for the past three years.
#1 Vanilla - Vanilla continues to be the top selling baking extract in North America. Despite the increased cost of the vanilla crop in recent years, vanilla extracts have seen a steady increase in sales from 2016 to 2019.