(Entertainment-NewsWire.com, May 11, 2018 ) The global Food Flavor Market size in 2016 was estimated USD 9.2 billion, and it is estimated to increase at a compound annual growth rate of 5.1% during the forecast period (2018 - 2023).
The consumer’s preference for low-fat and low-carbohydrate diet is a key driver in the growth of the consumption of food flavors. Since the flavors are region- and country-specific, the manufacturers are constantly trying to hold a larger share of the demand through rigorous R&D and innovations in the market. Increase in health awareness among consumers is proving to be a major restraint in the artificial flavors market.
Consumers are becoming more conscious about the negative effects of artificial flavors; it subsequently results in a decrease in their demand, thus ticking the demand for natural flavors. Many new entrants face a challenge in the flavor industry, as massive natural resources are needed to extract flavors.
***Beverage Market Holds a Prominent Share :
The food flavors segment is bifurcated into natural food flavors and synthetic food flavors. The food flavors are further segmented by application into dairy, bakery & confectionery, meat & fish products, snacks & savories, beverages, and others. By type, the artificial food flavors are expected to witness a fall in the market due to consumer preference for natural flavors. The major constraint in the natural flavors industry is the need for large amounts of natural resources to extract flavors according to consumer preference.
Europe Dominates the Food Flavors Market;
The major global manufacturing hubs are North America and Europe, which hold a large share in the food flavor market. These regions are followed by Asia-Pacific, South America, and Africa. In Europe, snack and confectionary is leading the market in consumption followed by bakery items and meat. Keeping the consumers’ health in mind, the European market is mature and has several regulatory bodies for different applications of food flavors. Germany constitutes the major share in the Europe market having 23%, followed by the United Kingdom, Spain, The Netherlands, and Italy.
The strong growth in low-fat and low-carbohydrate food and beverages is expected to increase the demand in the North American flavor and fragrance market. However, Asia-Pacific is projected to gradually overtake the North American market, due to an increase in growth estimated for this region. On the other hand, growth of the European market would continue to be moderate, due to market maturity, as well as, consolidation in the industries that use food flavors.
**Cooperative Landscape ;
MAJOR PLAYERS: GIVAUDAN, FIRMENICH, ARIAKE U.S.A. INC., CARGILL INC, KERRY GROUP, CORBION PURAC, ARCHER DANIELS, MIDLAND (ADM), FMC CORPORATION, SYMRISE AG, BASF, INTERNATIONAL FRAGRANCE AND FLAVORS, INC. (IFF), SENSIENT, DUPONT- DANISCO and D.D. WILLIAMSON & CO INC., amongst others.
June 2017: Ajinomoto has started the third stage of its USD 2 billion global acquisition campaign at Europe. The company aims for takeover deals, with specific attention over the United Kingdom, Germany and France.
**Reasons to Purchase Food Flavor Market Report :
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis Market dynamics, which essentially consider the factors which are impelling the present market scenario, along with growth opportunities of the market in the years to come Market segmentation analysis including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players 3 months analyst support along with the Market Estimate sheet (in excel). Customization of the Report:
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Companies Mentioned:
Givaudan, Firmenich, Ariake U.S.A. INC., Cargill Inc, Kerry Group, Corbion Purac, Archer Daniels, Midland (ADM), FMC Corporation, Symrise AG, BASF, International Fragrance and Flavors, Inc. (IFF), Sensient, Dupont- Danisco, D.D. Williamson & Co Inc.
