(Entertainment-NewsWire.com, February 07, 2017 ) According to the report Middle-East and Africa Food Flavors market has been estimated at USD 1.02 Billion in 2016 and is projected to reach USD 1.34 Billion by 2021, at a CAGR of 5.60% during the forecast period from 2016 to 2021.
Flavors are a type of food additives added to food and beverages to make products tastier and more appealing. Flavors can be broadly classified as natural and synthetic flavors, where natural flavors are produced from edible substances such as fruits, vegetables, leaves; and synthetic flavors are prepared by the mixture of volatile chemicals. They are essential part of the food processing industry to maintain the taste of a product.
The market for food flavors in Middle-East and Africa is mainly driven due to new technologies that are pioneered the outgrowth of advanced ingredients derived from fruits & vegetables, which are used as food flavors. Also, growing demand for health & wellness foods, technological innovation, and increasing consumer preference towards convenience and ready-to-eat meals are driving the food flavors market. But, the market growth can be hampered due to rising health awareness in people, high costs of food flavor raw materials and regulations on the amount of consumption.
Middle-East and Africa market for Food Flavors is segmented based on type, source and application. By type, the market is further sub-segmented into Chocolate, Vanilla, Fruits & Nuts. By Origin, the market is further sub-segmented into Natural and Synthetic. By Application, the market is further sub-segmented into Beverages, Savory & Snacks, Bakery & Confectionery, Dairy & Frozen Products, Others. Beverage flavor products segment is the largest in terms of revenue, closely followed by bakery & confectionery and savory & snacks flavors segments. Growth for dairy and frozen product flavors due to high demand of meat flavor products.
Geographically, Middle-East and Africa market for Food Flavors is segmented into Middle-East region and Africa region. MEA region is mainly growing in the market due to high penetration of global market players into the untapped regions. Also, increased consumption of fitness and wellness flavor solutions is also driving the market in these regions.
Kerry Group, Givaudan, Firmenich, Sensient Technologies Corporation, Symrise AG, Frutarom Industries, Archer Daniels Midland Company, DohlerGroup, AGRANA Group, SVZ International B.V. and SunOpta, Inc.are the major players of Middle-East and Africa Food Flavors market.
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