Press release
Global Natural Flavors Market Expected to Witness a Sustainable Growth over 2023
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.
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Global Natural Flavors Market: Forecast by Type / Application / Region
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.
Over the next five years, LPI(LP Information) projects that Natural Flavors will register a 3.9% CAGR in terms of revenue, reach US$ 15800 million by 2023, from US$ 12600 million in 2017.
Global Natural Flavors Market: Key Players
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
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Related Information:
United States Natural Flavors Market Research Report 2018
Europe Natural Flavors Market Research Report 2018
North America Natural Flavors Market Research Report 2018
Asia-Pacific Natural Flavors Market Research Report 2018
China Natural Flavors Market Research Report 2018
EMEA Natural Flavors Market Research Report 2018
Global Natural Flavors Market Research Report 2018
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