Food Flavors Market boosting the growth Global: Market dynamics and trends, efficiencies forecast to 2023

Market Definition:
Food flavor is a food additives or ingredients, which is commercially used in the food and beverages products and others. It is added to food and drinks to enhance the sensory impression of the food. Food flavor can be segmented into two types: natural flavor and synthetic flavor. It decides the sensual impression of food or other applications such as beverages, cosmetic & personal care, nutraceuticals and other end-use applications. Over the few years, food flavors has gained popularity based on its diverse application in the food industry.

Market Scenario:    
Food flavors are additives, which enhances the overall sensory appearance of food and beverages, and other products. It has a wide range of applications in frozen dairy and confectionary products. The demand for the food flavors is growing mainly in emerging economies owing to increasing awareness about the product and its various usage, thereby, providing opportunities for the manufacturer to expand the market. Regulatory authorities, for instance, FDA has permitted the use of natural food flavors, consisting of oleoresin, essence or extractive, protein hydrolysate, essential oil, which comprises the flavoring element derived from fruit or fruit juice, vegetable or vegetable juice, edible yeast, spice, herb, bark, bud, root, leaf or similar plant material or meat, seafood, poultry, dairy products, eggs. The increasing consumers’ awareness regarding health & wellness and their growing interest to adopt food flavors of natural origin instead of synthetic flavors is driving the market growth.

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Key Players:
The leading market players in the global food flavors market primarily are Givaudan SA (Switzerland), International Flavors & Food flavors, Inc. (U.S.), Firmenich International SA (Switzerland), Symrise AG (Germany), Takasago International Corporation (Japan), V. MANE FILS SA (France), Sensient Technologies Corporation (U.S.)

Key Findings:
Europe is estimated to retain its dominance over the forecast period and to grow at a substantial CAGR of 5.57%. Among the European country, Germany is projected to witness a substantial growth at a CAGR 5.83% during the forecast period of 2017-2023

Global food flavors manufacturers find massive opportunity in the U.S. owing to the huge demand for natural flavors in the food & beverages.

Target Audience:
Global Food Flavors manufacturers

Raw material suppliers

End users

Retailers and wholesalers

E-commerce companies

Traders, importers and exporters

Regional Analysis:
The global food flavors market is segmented into North America, Europe, Asia Pacific, and Rest of the world. Among these, Europe is projected to retain its dominance throughout the forecast period owing to robust economic growth and increasing health conscious population. Europe is estimated to reach USD 6366.20 million by 2023. However, Asia Pacific is projected to expand at highest CAGR of 6.11% during the forecast period 2017-2023. Increasing middle income population group with more disposable income, continuous urbanization in developing economies are anticipated to fuel the sales of food flavors in Asia Pacific region.

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This release was published on openPR.