(Entertainment-NewsWire.com, September 06, 2018 ) The worldwide market for Natural Flavors is expected to grow at a CAGR of roughly 3.9% over the next five years, will reach 15800 million US$ in 2023, from 12600 million US$ in 2017.
Flavors are used as food additives to enhancing the taste and smell of food products such as beverages, bakery and snacks, dairy products, soups, sauces or confectionary products. While natural flavors is a kind of flavors with raw material of flowers, plant or animals.
Market Segment by Manufacturers, this report covers
Givaudan, Firmenich, IFF, Symrise, Takasago, WILD Flavors, Mane, Frutarom, Sensient, Robertet SA, T. Hasegawa, Kerry, McCormick, Synergy Flavor, Prova, Huabao, Yingyang, Shanghai Apple, Wanxiang International, Boton and others
This report focuses on the Natural Flavors in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
The technical barriers of natural flavor are relatively not high, but the market monopoly is rather serious. The top four enterprises including Givaudan, Firmenich, IFF, and Symrise, occupied about 56.26% market share of total sales revenue in 2016. Other relatively large companied include Takasago, WILD Flavors, Mane, Frutarom, Sensient, Robertet SA, T. Hasegawa, Kerry and Boton.
Natural flavor are widely used in beverage, savoury, dairy and confectionary etc.. The key factors driving the growth of the aforementioned industry are increasingly natural flavor consumption. The expansions of application drive the market growth and support the growth of this market over forecast period. Natural flavor industry will usher in a stable growth space.
In the past few years, the price of natural flavor decreased and we expect the price has pressure to increase in short time. However, the improvement of energy, transportation costs, employee wages, and equipment depreciation will play a significant role in promoting the cost of natural flavor. Therefore, to some extent, the companies face the risk of profit decline.
Market Segment by Regions, regional analysis covers
· North America (United States, Canada and Mexico)
· Europe (Germany, France, UK, Russia and Italy)
· Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
· South America (Brazil, Argentina, Colombia etc.)
· Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
· Animal Flavors
· Plant Flavors
Market Segment by Applications, can be divided into
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