Worldwide Food Flavors Market Expected to Grow at CAGR of 5.60% by Forecast to 2023
Food Flavors Market Information: by Type (Natural, Synthetic), Application (Beverages, Dairy & Frozen Products, Bakery & Confectionery, Savory & Snacks and others), and Region (North America, Europe, Asia Pacific and Rest of the World) – Forecast till 2023
pune, India – April 27, 2018 /MarketersMedia/ —
Market Overview:
Food Flavors Market is expected to grow at a CAGR of 5.57%. In recent years, food flavors market has witnessed substantial innovation in terms of new product launches along with the research & development and collaboration. Also, the overall disposable income of the consumer has been increasing over the past few years, which, in turn, leads to surge in the sales of food flavors during the forecast period.
Food flavor are commercially used in food and beverages and others. The food flavors are added to food and drinks to enhance the sensory impression of food or any other substance that is determined by chemical senses of taste and smell. They decides the sensual impression of food or other applications such as beverages, cosmetic & personal care, nutraceuticals and other end-use applications. Food flavor can be segmented into two types such as natural flavor and synthetic flavor.
Various types of food additives are commercially available in the market that are added to food and beverages to make it tastier and more appealing. Flavors are prepared by the mixture of volatile chemicals. According to FDA, the term natural flavor means that, the oleoresin, essence or extractive, protein hydrolysate, essential oil which comprises the flavoring element derived from fruit or fruit juice, vegetable or vegetable juice, edible yeast, spice, herb, bark, bud, root, leaf or similar plant material or meat, seafood, poultry, dairy products, eggs. Clean label trend has evolved beyond ingredients and indicates that the food is prepared by the natural flavors. The increasing consumer awareness on health and wellness and their growing interest to adopt global natural food flavors instead of synthetic flavors.
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Major Key Players:
This report includes a study of strategies used in the market, mergers, and acquisitions in food flavors, multiple product launch by food flavors market players. It further includes product portfolios and developments of leading major players which includes
Givaudan SA (Switzerland)
International Flavors & Food flavors, Inc.(U.S.)
Firmenich International SA (Switzerland)
Symrise AG (Germany)
Takasago International Corporation (Japan)
MANE FILS SA (France) and
Sensient Technologies Corporation (U.S.)
Segments:
The global food flavors market has been segmented on the basis of type such as synthetic and natural. The synthetic segment is projected to account for maximum market proportion and projected to grow at CAGR of 5.03% during the forecast period. On the basis of applications, the global food flavors market is segmented into beverages, dairy & frozen products, bakery & confectionery, savory & snacks, and others. Among all the applications, beverages segment is estimated to witness the highest growth at a CAGR of 6.07% during the forecast period 2017-2023.
Target Audience:
Global Food Flavors manufacturers
Raw material suppliers
End users
Retailers and wholesalers
E-commerce companies
Traders, importers and exporters
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Key Findings:
Europe is estimated to retain its dominance over the forecast period and to grow at a substantial CAGR of 5.57%. Among the European country, Germany is projected to witness a substantial growth at a CAGR 5.83% during the forecast period of 2017-2023
Global food flavors manufacturers find massive opportunity in the U.S. owing to the huge demand for natural flavors in the food & beverages.
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Source: MarketersMedia
Release ID: 337890
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