Flavors are intense preparations added to food items to rouse or impart a characteristic taste, sustain the flavour after processing, change an already existing character, and show an undesirable flavour.
The global food flavors market was worth US$14,372 million in 2019 and is expected to reach US$20,106 million by 2025, witnessing a CAGR of 5.4% from 2019 to 2025.
In 2017, Firmenich officially released its Protein Shield Flavors, a new line of natural flavour solutions targeted to assist developers in addressing the trials they face when making beverage products with high protein content.
Market Drivers and Restrains
The rise in demand for ready-to-eat, canned and processed foods majorly drives the industry around the globe. Moreover, other aspects, such as the progression of technologies, and full inflow of investment in R&D activities, drive the market growth. Introduction of new and innovative flavours and adoption of technologies increase the growth of the food flavors market.
However, raw material costs, bargaining power of customers and suppliers, cost pressure, and high entry barriers on manufacturers hinder the market growth.
Report is segmented as
- Fruits & Nuts
The market is segmented based on regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. The Asia-Pacific region leads with the highest share of the global Food Flavors Market.
Key market players:
- Kerry Group, Plc.
- Symrise AG
- Frutarom Industries
- Sensient Technologies Corporation
- International Flavors & Fragrances Inc.
- Hasegawa Co. Ltd.
- Wild Flavors
- Takasago International Corporation
- Huabao International.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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