(Food-Beverage-News.Com, January 13, 2018 ) According to the report “Global Food Flavors Market”, published by Market Data Forecast, the Global Market has been estimated at USD 12.75 Billion in 2016 and is projected to reach USD 16.86 Billion by 2021, at a CAGR of 5.75% during the forecast period from 2016 to 2021.
Food flavors are made of three components taste, smell, and color. Flavors can be broadly classified as natural and synthetic flavors. Food and beverage industries require flavor for different purposes such as new product development, to add new product line and to change the taste of the existing product.
The market for food flavors is mainly driven due to the high demand for new flavors from food and beverages industry and continuous innovation is driving the need for bringing up new products to market. Also, rising health awareness among the population, growing demand for organic food products and rise in the purchasing power are some of the other factors that are propelling the market growth. But, the market growth is mainly hindered due to FDA regulating the concentration range of synthetic flavors in food products and awareness among consumers about the risks associated with the intake of synthetic food additives.
The global market for Food Flavors is segmented based on type, source, and application. By type, the market is further sub-segmented into Chocolate, Vanilla, and 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.
Geographically, the Global market for Food Flavors is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe. The North American market for food flavors is witnessing a considerable growth due to increase in packaged food consumption in developed economies. The Food Flavors market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to growing demand for health & wellness foods, technological innovation, and increasing consumer preference towards convenience and ready-to-eat meals.
Global 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.
The Food Flavors Market study offers the following deliverables:
• Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.